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www.idx.co.id
LAMPIRAN I
Data Perusahaan sub Sektor Makanan dan Minuman yang terdaftar di Bursa Efek Indonesia 2010-2014
No Kode Saham Nama Perusahaan Tanggal IPO
1 ADES PT.AkashaWira Internasional Tbk 13 Jun 1994
2 AISA PT. Tiga Pilar Sejahtera Food Tbk 11 Jun 1997
3 ALTO PT. Tri Banyan Tirta Tbk 10 Jul 2012
4 CEKA PT. Wilmar Cahaya Indonesia tbk 09 Jul 1996
5 DLTA PT. Delta Djakarta Tbk 12 Feb 1984
6 ICBP PT. Indofood CBP Sukses Makmur Tbk 07 Okt 2010
7 INDF PT. Indofood Sukses Makmur Tbk 14 Jul 1994
8 MLBI PT. Multi Bintang Indonesia Tbk 17 Jan 1994
9 MYOR PT. Mayora Indah Tbk 04 Jul 1990
10 PSDN PT. Prasidha Aneka Niaga Tbk 18 Okt 1994
11 ROTI PT. Nippon Indosari Corporindo Tbk 28 Jun 2010
12 SKBM PT. Sekar Bumi Tbk 05 Jan 1993
13 SKLT PT. Sekar Laut Tbk 08 Sep 1993
14 STTP PT. Siantar Top Tbk 16 Des 1996
15 ULTJ PT. Ultrajaya Milk Industry Tbk 02 Juli 1990
LAMPIRAN II
Data Perputaran Piutang, Periode Penagihan Piutang, Perputaran Persediaan dan Rasio Lancar Perusahaan sub Sektor Makanan dan
Minuman yang terdaftar di Bursa Efek Indonesia 2010-2014
Nama Perusahaan Tahun Perputaran Piutang Periode Penagihan Piutang Perputaran Persediaan Rasio Lancar PT. Akasha Wira International Tbk 2.010 3,20 158 12,20 151,14 PT. Akasha Wira International Tbk 2.011 2,27 86 6,61 170,88 PT. Akasha Wira International Tbk 2.012 4,43 54 2,68 194,16 PT. Akasha Wira International Tbk 2.013 4,51 57 1,89 180,96 PT. Akasha Wira International Tbk 2.014 4,38 66 2,14 153,53 PT. Tiga Pilar Sejahtera Food Tbk 2.010 3,10 83 1,17 128,50 PT. Tiga Pilar Sejahtera Food Tbk 2.011 4,38 97,00 2,25 189,35 PT. Tiga Pilar Sejahtera Food Tbk 2.012 3,54 79,00 3,38 126,95 PT. Tiga Pilar Sejahtera Food Tbk 2.013 3,84 80,00 2,82 175,03 PT. Tiga Pilar Sejahtera Food Tbk 2.014 3,26 94,00 2,49 266,33 PT. Wilmar Cahaya Indonesia Tbk 2.010 5,65 56 1,86 167,23 PT. Wilmar Cahaya Indonesia Tbk 2.011 6,47 46,00 1,60 168,69 PT. Wilmar Cahaya Indonesia Tbk 2.012 4,64 54,00 1,75 102,71 PT. Wilmar Cahaya Indonesia Tbk 2.013 8,18 40,00 4,67 163,22 PT. Wilmar Cahaya Indonesia Tbk 2.014 8,38 31,00 5,76 146,56
PT. Delta Djakarta Tbk 2.010 2,31 135 1,74 633,08 PT. Delta Djakarta Tbk 2.011 1,82 133,00 1,36 600,90 PT. Delta Djakarta Tbk 2.012 5,60 41,00 7,27 526,46 PT. Delta Djakarta Tbk 2.013 3,36 50,00 1,36 470,54 PT. Delta Djakarta Tbk 2.014 3,82 89,00 0,98 447,32 PT. Indofood CBP Sukses Makmur Tbk 2.010 7,21 41 1,50 260,00 PT. Indofood CBP Sukses Makmur Tbk 2.011 6,09 39,00 6,23 276,25 PT. Indofood CBP Sukses Makmur Tbk 2.012 6,97 37,00 5,75 241,06 PT. Indofood CBP Sukses Makmur Tbk 2.013 7,50 35,00 5,13 218,32 PT. Indofood CBP Sukses Makmur Tbk 2.014 6,92 38,00 5,40 232,60 PT. Indofood Sukses Makmur Tbk 2.010 10,55 25 5,07 204,00 PT. Indofood Sukses Makmur Tbk 2.011 9,25 25,00 3,50 200,32 PT. Indofood Sukses Makmur Tbk 2.012 9,68 31,00 3,66 166,73 PT. Indofood Sukses Makmur Tbk 2.013 8,92 25,00 3,76 180,74 PT. Indofood Sukses Makmur Tbk 2.014 9,29 29,00 3,81 170,53 PT. Multi Bintang Indonesia Tbk. 2.010 8,73 44 4,73 94,50 PT. Multi Bintang Indonesia Tbk. 2.011 5,26 51,00 5,04 99,42 PT. Multi Bintang Indonesia Tbk. 2.012 4,49 39,00 3,61 58,05 PT. Multi Bintang Indonesia Tbk. 2.013 10,75 33,00 6,26 97,05 PT. Multi Bintang Indonesia Tbk. 2.014 5,78 46,00 4,30 51,39 PT. Mayora Indah Tbk 2.010 4,68 66 7,80 258,08
PT. Mayora Indah Tbk 2.011 4,33 65,00 6,68 221,87 PT. Mayora Indah Tbk 2.012 3,85 70,00 5,79 276,11 PT. Mayora Indah Tbk 2.013 3,48 84,00 10,36 244,34 PT. Mayora Indah Tbk 2.014 3,25 78,00 4,77 208,99 PT. Nippon Indosari Corporindo Tbk 2.010 6,73 44 23,29 229,91 PT. Nippon Indosari Corporindo Tbk 2.011 6,38 46,00 24,44 128,35 PT. Nippon Indosari Corporindo Tbk 2.012 6,92 41,00 22,98 112,46 PT. Nippon Indosari Corporindo Tbk 2.013 6,60 44,00 19,75 113,64 PT. Nippon Indosari Corporindo Tbk 2.014 6,49 41,00 17,20 136,64 PT. Sekar Laut Tbk 2.010 6,40 43 3,59 192,51 PT. Sekar Laut Tbk 2.011 5,66 49,00 3,71 169,74 PT. Sekar Laut Tbk 2.012 5,53 47,00 4,00 141,48 PT. Sekar Laut Tbk 2.013 6,37 47,00 4,61 123,38 PT. Sekar Laut Tbk 2.014 5,91 43,00 4,92 118,38 PT. Siantar Top Tbk 2.010 6,45 53 3,40 170,92 PT. Siantar Top Tbk 2.011 6,04 40,00 3,74 103,48 PT. Siantar Top Tbk 2.012 5,98 56,00 3,66 99,75 PT. Siantar Top Tbk 2.013 5,32 50,00 3,59 114,24 PT. Siantar Top Tbk 2.014 5,76 47,00 4,00 148,42 PT. Ultrajaya Milk
Industry and Trading Company Tbk
2.010
PT. Ultrajaya Milk Industry and Trading Company Tbk
2.011
6,49 45,00 2,72 152,09
PT. Ultrajaya Milk Industry and Trading Company Tbk
2.012
6,77 40,00 3,56 201,82
PT. Ultrajaya Milk Industry and Trading Company Tbk
2.013
6,92 40,00 4,07 247,01
PT. Ultrajaya Milk Industry and Trading Company Tbk
2.014
LAMPIRAN III
Hasil Analisis Statistik Deskriptif
1. Analisis Deskriptif Rasio Lancar
Rasio Lancar 2010 2011 2012 2013 2014 Mean 224.1617 206.9025 193.0433 194.825 194.1225 Median 196.29 170.31 167.82 170.88 167.135 Maximum 633.08 600.9 526.46 470.54 447.32 Minimum 94.5 99.42 58.05 97.75 51.39 Std. Dev. 137.8544 134.1696 125.6724 101.4964 99.62195 Observations 12 12 12 12 12
2. Analisis Deskriptif Perputaran Piutang Perputaran Piutang 2010 2011 2012 2013 2014 Mean 5.98816 5.429554 5.591527 6.330337 5.705952 Median 6.42379 5.841644 5.568497 6.481898 5.772226 Maximum 10.5515 10.02721 9.249649 10.74693 8.920215 Minimum 2.313451 1.819073 3.539593 3.360516 3.254593 Std. Dev. 2.392753 2.140197 1.586246 2.382489 1.886688 Observations 12 12 12 12 12
3. Analisis Deskriptif Periode Penagihan Piutang Periode Penagihan Piutang 2010 2011 2012 2013 2014 Mean 65.59129 60.96069 48.74623 49.41868 53.58205 Median 48.90741 47.35563 43.95847 45.45888 46.38627 Maximum 157.8732 132.8765 79.06019 84.26912 94.14041 Minimum 25.18161 29.13929 25.06553 30.92548 24.56631 Std. Dev. 40.90313 29.93518 14.92921 17.08953 22.94274 Observations 12 12 12 12 12
4. Analisis Deskriptif Perputaran Persediaan Perputaran Persediaan 2010 2011 2012 2013 2014 Mean 5.718765 6.216706 5.701479 5.731672 4.826398 Median 3.495995 4.390887 3.634109 4.338579 4.149195 Maximum 23.29132 24.44033 22.9814 19.74788 17.19634 Minimum 1.165109 1.362779 1.7485 1.363996 0.975231 Std. Dev. 6.378057 6.277682 5.659295 4.995286 4.146325 Observations 12 12 12 12 12
LAMPIRAN IV
Hasil Analisis Kelayakan Data
1. Unit Root test Rasio Lancar (1st Difference – intercept) Null Hypothesis: RASIO_LANCAR has a unit root
Exogenous: Constant
Lag Length: 0 (Automatic - based on SIC, maxlag=10)
t-Statistic Prob.*
Augmented Dickey-Fuller test statistic -2.9059 0.0484
Test critical
values: 1% level -3.5461
5% level -2.91173
10% level -2.59355
*MacKinnon (1996) one-sided p-values.
2. Unit Root test Perputaran piutang (Level– intercept)
Null Hypothesis: PERPUTARAN_PIUTANG has a unit root
Exogenous: Constant
Lag Length: 0 (Automatic - based on SIC, maxlag=10)
t-Statistic Prob.*
Augmented Dickey-Fuller test statistic -4.20058 0.0015
Test critical
values: 1% level -3.5461
5% level -2.91173
10% level -2.59355
3. Unit Root test Periode penagihan piutang (1st Difference – intercept)
Null Hypothesis: D(PERIODE_PENAGIHAN_PIUTANG) has a unit root
Exogenous: Constant
Lag Length: 1 (Automatic - based on SIC, maxlag=10)
t-Statistic Prob.*
Augmented Dickey-Fuller test statistic -10.2435 0.0000
Test critical
values: 1% level -3.5504
5% level -2.91355
10% level -2.59452
*MacKinnon (1996) one-sided p-values.
4. Unit Root test Perputaran persediaan (1st Difference – intercept)
Null Hypothesis: D(PERPUTARAN_PERSEDIAAN) has a unit root
Exogenous: Constant
Lag Length: 0 (Automatic - based on SIC, maxlag=10)
t-Statistic Prob.*
Augmented Dickey-Fuller test statistic -8.60643 0.0000
Test critical
values: 1% level -3.54821
5% level -2.91263
10% level -2.59403
LAMPIRAN V
Hasil Model Regresi Data Panel
1. Common Effect
Dependent Variable: RASIO_LANCAR
Method: Panel Least Squares
Date: 08/11/16 Time: 10:23
Sample: 2010 2014
Periods included: 5
Cross-sections included: 12
Total panel (balanced) observations: 60
Variable Coefficient Std.
Error t-Statistic Prob.
C 153.5147 105.3178 1.457633 0.1505
PERPUTARAN_PIUTANG -3.86065 11.06286 -0.34897 0.7284
PERIOD_PENAGIHAN_PIUTANG 1.57066 0.835936 1.878924 0.0655
PERPUTARAN_PERSEDIAAN -3.07179 2.631688 -1.16723 0.2481
R-squared 0.203111 Mean dependent
var 201.3505
Adjusted R-squared 0.16042 S.D. dependent var 116.9139
S.E. of regression 107.1266 Akaike info
criterion 12.25024
Sum squared resid 642662 Schwarz criterion 12.38986
Log likelihood -363.507 Hannan-Quinn criter. 12.30485
F-statistic 4.757749 Durbin-Watson
stat 0.252349
2. Fixed Effect Dummy variable CROSSID Effect 1 1 -41.3084 2 2 -39.6434 3 3 -53.0553 4 4 318.1640 5 5 49.66574 6 6 -20.4318 7 7 -119.85 8 8 41.61852 9 9 -26.324 10 10 -47.997 11 11 -72.7556 12 12 11.91766
Dependent Variable: RASIO_LANCAR
Method: Panel Least Squares
Date: 08/11/16 Time: 10:24
Sample: 2010 2014
Periods included: 5
Cross-sections included: 12
Total panel (balanced) observations: 60
Variable Coefficient Std.
Error t-Statistic Prob.
C 132.017 44.85713 2.943055 0.0051
PERPUTARAN_PIUTANG 6.148122 6.017203 3.021757 0.0112
PERIOD_PENAGIHAN_PIUTANG 0.768615 0.360982 3.129234 0.0387
PERPUTARAN_PERSEDIAAN -1.6451 3.009618 2.546615 0.0587
Effects Specification
Cross-section fixed (dummy variables)
R-squared 0.914765 Mean dependent
var 201.3505
Adjusted R-squared 0.938248 S.D. dependent var 116.9139
S.E. of regression 39.08357 Akaike info
criterion 10.3816
Sum squared resid 68738.63 Schwarz criterion 10.90519
Log likelihood -296.448 Hannan-Quinn
criter. 10.5864
F-statistic 34.49673 Durbin-Watson
stat 1.316378
3. Random Effect
Dependent Variable: RASIO_LANCAR
Method: Panel EGLS (Cross-section random effects)
Date: 08/11/16 Time: 10:27
Sample: 2010 2014
Periods included: 5
Cross-sections included: 12
Total panel (balanced) observations: 60
Swamy and Arora estimator of component variances
Variable Coefficient Std. Error t-Statistic Prob.
C 137.0888 55.21392 2.482867 0.0161 PERPUTARAN_PIUTANG 5.076711 5.844801 0.868586 0.3888 PERIOD_PENAGIHAN_PIUTANG 0.825965 0.354846 2.327671 0.0236 PERPUTARAN_PERSEDIAAN -2.013 2.739031 -0.73493 0.4654 Effects Specification S.D. Rho Cross-section random 113.4354 0.8939 Idiosyncratic random 39.08357 0.1061 Weighted Statistics
R-squared 0.092303 Mean dependent
var 30.66324
Adjusted R-squared 0.043677 S.D. dependent var 39.63611
S.E. of regression 38.76086 Sum squared resid 84134.64
F-statistic 1.898209 Durbin-Watson stat 1.109448
Prob(F-statistic) 0.140383
Unweighted Statistics
R-squared 0.102435 Mean dependent
var 201.3505
LAMPIRAN VI
Hasil Pemilihan Model Regresi Data Panel
1. Uji Chow
Redundant Fixed Effects Tests
Equation: Untitled
Test cross-section fixed effects
Effects Test Statistic d.f. Prob.
Cross-section F 34.15646 (11,45) 0
Cross-section Chi-square 134.1185 11 0
Cross-section fixed effects test equation:
Dependent Variable: RASIO_LANCAR
Method: Panel Least Squares
Date: 08/11/16 Time: 10:28
Sample: 2010 2014
Periods included: 5
Cross-sections included: 12
Total panel (balanced) observations: 60
Variable Coefficient Std. Error t-Statistic Prob.
C 153.5147 105.3178 1.457633 0.1505
PERPUTARAN_PIUTANG -3.86065 11.06286 -0.34897 0.7284
PERIOD_PENAGIHAN_PIUTANG 1.57066 0.835936 1.878924 0.0655
PERPUTARAN_PERSEDIAAN -3.07179 2.631688 -1.16723 0.2481
R-squared 0.203111 Mean dependent
var
201.35 05
Adjusted R-squared 0.16042 S.D. dependent var 116.91
39 S.E. of regression 107.1266 Akaike info criterion 12.25024
Sum squared resid 642662 Schwarz criterion 12.38986
Log likelihood -363.507 Hannan-Quinn
criter.
12.304 85
F-statistic 4.757749 Durbin-Watson stat 0.2523
49
2. Uji Hausman
Correlated Random Effects - Hausman Test
Equation: Untitled
Test cross-section random effects
Test Summary Chi-Sq.
Statistic
Chi-Sq.
d.f. Prob.
Cross-section random 2.079055 3 0.0162
Cross-section random effects test comparisons:
Variable Fixed Random Var(Diff.) Prob.
PERPUTARAN_PIUTANG 6.148122 5.076711 2.045034 0.4537
PERIOD_PENAGIHAN_PIUTANG 0.768615 0.825965 0.004392 0.3868
PERPUTARAN_PERSEDIAAN -1.6451 -2.013 1.555506 0.768
Cross-section random effects test equation:
Dependent Variable: RASIO_LANCAR
Method: Panel Least Squares
Date: 08/11/16 Time: 10:29
Sample: 2010 2014
Periods included: 5
Cross-sections included: 12
Total panel (balanced) observations: 60
Variable Coefficient Std. Error t-Statistic Prob.
C 132.017 44.85713 2.943055 0.0051
PERPUTARAN_PIUTANG 6.148122 6.017203 3.021757 0.0112
PERIOD_PENAGIHAN_PIUTANG 0.768615 0.360982 3.129234 0.0387
PERPUTARAN_PERSEDIAAN -1.6451 3.009618 2.546615 0.0587
Effects Specification
Cross-section fixed (dummy variables)
R-squared 0.914765 Mean dependent
var 201.3505
Adjusted R-squared 0.938248 S.D. dependent var 116.9139
S.E. of regression 39.08357 Akaike info criterion 10.3816
Sum squared resid 68738.63 Schwarz criterion 10.90519
Log likelihood -296.448 Hannan-Quinn
criter. 10.5864
F-statistic 34.49673 Durbin-Watson stat 1.316378
LAMPIRAN VII
Hasil Analisis Model Regresi Data Panel
1. UJI T Statistic
Pengaruh Perputaran Piutang terhadap Rasio Lancar
Dependent Variable: RASIO_LANCAR
Method: Panel Least Squares
Date: 08/11/16 Time: 10:24
Sample: 2010 2014
Periods included: 5
Cross-sections included: 12
Total panel (balanced) observations: 60
Variable Coefficient Std. Error t-Statistic Prob.
C 132.017 44.85713 2.943055 0.0051
PERPUTARAN_PIUTANG 6.148122 6.017203 3.021757 0.0112
Pengaruh Periode Penagihan Piutang terhadap Rasio Lancar
Dependent Variable: RASIO_LANCAR
Method: Panel Least Squares
Date: 08/11/16 Time: 10:24
Sample: 2010 2014
Periods included: 5
Cross-sections included: 12
Total panel (balanced) observations: 60
Variable Coefficient Std. Error t-Statistic Prob.
C 132.017 44.85713 2.943055 0.0051
PERIOD_PENAGIHAN_PI
UTANG 0.768615 0.360982 3.129234 0.0387
Pengaruh Perputaran Persediaan terhadap Rasio Lancar
Dependent Variable: RASIO_LANCAR
Method: Panel Least Squares
Date: 08/11/16 Time: 10:24
Sample: 2010 2014
Periods included: 5
Cross-sections included: 12
Total panel (balanced) observations: 60
Variable Coefficient Std.
Error t-Statistic Prob.
C 132.017 44.85713 2.943055 0.0051
