This study aims to analyze the influence of cash turnover, inventory turnover, and receivables turnover on the profitability of pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) for the period 2019-2022. This quantitative explanatory research uses secondary data from the financial reports of pharmaceutical companies listed on the IDX. Data analysis techniques include classical assumption tests and panel data regression to examine the relationship between the independent variables (cash turnover, inventory turnover, and receivables turnover) and the dependent variable (profitability). The results indicate that all three variables, both partially and simultaneously, have a significant effect on profitability. Efficient management of cash, inventory, and receivables contributes to higher profitability levels. This study highlights the importance of effective management of these components in improving the financial performance of companies. Limitations of the study include reliance on secondary data and a population limited to pharmaceutical companies listed on the IDX. Future research is suggested to extend the study period and consider other variables such as cost management and investment. A mixed-method approach with qualitative insights can provide deeper understanding. This study offers significant contributions to understanding how the management of cash, inventory, and receivables affects the profitability of pharmaceutical companies in Indonesia, and provides practical recommendations for companies, investors, and regulators to enhance the financial performance of the pharmaceutical sector.

This study aims to analyze leverage as proxied by the debt to equity ratio, sales growth and firm size to financial performance as proxied by return on asset. This research was conducted on companies in the Consumer Non-Cyclicals Sector Food and Beverage Sub Sector, which were listed on the Indonesia Stock Exchange for the 2019-2022 period. The sampling method in this research used a purposive sampling method with a sample of 30 non-cyclical consumer sectors, food and beverage sub-sectors that met the sample criteria. This study used multiple linear regression analysis techniques and used SPSS statistical test tool version 22.0. The results of this study show that the variable leverage and firm size have a negative and significant effect on return on assets, while sales growth does not affect return on assets.

AbstrakTujuan dari penelitian ini adalah untuk menganalisis dilematika dalam tata kelola kebijakan pada usaha penyediaan tenaga listrik di Indonesia. Berangkat dari permasalahan dalam tata kelola kebijakan pada sektor ketenagalistrikan yang dinilai banyak kalangan sarat akan benturan kepentingan serta berdampak terhadap pelayanan dalam penyediaan tenaga listrik untuk kepentingan umum.   Tujuan dari penelitian ini adalah untuk menganalisis dilematika dalam tata kelola kebijakan pada usaha penyediaan tenaga listrik di Indonesia. Dengan model penelitian deskriptif analitis dan didukung dengan pendekatan secara yuridis normatif. Penelitian ini menyimpulkan bahwa   PT. PLN (Persero) merupakan representatif dari negara dalam melakukan usaha penyediaan tenaga listrik di Indonesia. Dengan adanya dilematika hukum dalam tubuh PT. PLN (Persero) maka berimplikasi luas terhadap dilematika kebijakan ketenagalistrikan nasional. Akibatnya, keberjalanan di sektor ketenagalistrikan di Indonesia cenderung lambat perkembangannya.Kata Kunci: Dilematika, Kebijakan, Ketenagalistrikan  AbstractThe purpose of this study is to analyze the dilemmas in policy governance in the business of providing electricity in Indonesia. Departing from the problems in the governance of policies in the electricity sector which are considered by many to be full of conflicts of interest and impact on services in the supply of electricity for the public interest. The purpose of this study is to analyze the dilemmas in policy governance in the business of providing electricity in Indonesia. With a descriptive analytical research model and supported by a normative juridical approach. This study concluded that PT. PLN (Persero) is a representative of the state in conducting electricity supply business in Indonesia. With the legal dilemma in the body of PT. PLN (Persero) has broad implications for the national electricity policy dilemma. As a result, travel in the electricity sector in Indonesia tends to be slow in its development.Keywords: Dilemmatic, Policy, Electricity