Analysis Analysis of the Effect of the Current Ratio on Profit Growth at PT Taspen (Persero) and Its Subsidiaries
Abstract
This study aims to analyze the trends in the Current Ratio (CR) and Profit Growth, as well as to examine the impact of the Current Ratio on Profit Growth at PT Taspen (Persero) and its subsidiaries during the 2017–2021 period. A quantitative descriptive and causal-associative method was employed, utilizing secondary data from published financial statements. Data analysis techniques included the Kolmogorov-Smirnov normality test, simple linear regression, Pearson correlation, the coefficient of determination (R²), and the t-test (partial test). The results indicate that PT Taspen (Persero)'s Current Ratio experienced a continuous downward trend, falling from 180.91% in 2017 to 161.41% in 2021; however, it remained within the 'Very Good' category according to the State-Owned Enterprise (SOE) Ministerial Regulation No. PER-10/MBU/2014. Profit growth fluctuated sharply due to the dynamics of claim expenses, particularly the surge in death claims during the COVID-19 pandemic in 2021. Statistically, the derived regression equation was Y = -770.605 + 4.722X, with a correlation coefficient of r = 0.375 (low category) and R² = 0.140. The t-test yielded a t-statistic of 0.700 with a significance level of 0.534 (> 0.05), leading to the conclusion that the Current Ratio has a positive but statistically insignificant effect on Profit Growth. Practical implications highlight the importance of optimal liquidity ratio management and the efficient handling of operational claim expenses to ensure the sustained profitability of this state-owned insurance company.
Keywords: Current Ratio, Profit Growth, Liquidity, PT Taspen (Persero), Social Insurance.
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