<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0186-1042</journal-id>
<journal-title><![CDATA[Contaduría y administración]]></journal-title>
<abbrev-journal-title><![CDATA[Contad. Adm]]></abbrev-journal-title>
<issn>0186-1042</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-10422021000200007</article-id>
<article-id pub-id-type="doi">10.22201/fca.24488410e.2021.2480</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Moderating effect of business environment to working capital and profitability in Indonesia]]></article-title>
<article-title xml:lang="es"><![CDATA[Efecto moderador del entorno empresarial sobre el capital de trabajo y la rentabilidad en Indonesia]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<given-names><![CDATA[Yuliani]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Karim]]></surname>
<given-names><![CDATA[Suhartini]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Umrie]]></surname>
<given-names><![CDATA[Rasyid Hs]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Bakar]]></surname>
<given-names><![CDATA[Samadi W.]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Robiyanto]]></surname>
<given-names><![CDATA[Robiyanto]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universitas Sriwijaya  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Indonesia</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Satya Wacana Christian University  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Indonesia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2021</year>
</pub-date>
<volume>66</volume>
<numero>2</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422021000200007&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422021000200007&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422021000200007&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The purpose of this research is to provide empirical evidence about the effect of working capital on profitability and to analyze the role of the business environment as a factor to strengthen and weaken the effect of working capital on profitability. The population of this study was all Indonesian public companies except those from the financial sector. Purposive sampling techniques were done to select 74 companies in the period of 2014-2016. The data consisted of 222 observations and was analyzed in a descriptive manner. Inferential techniques were also used by implementing the Structural Equation Modeling (SEM) with Partial Least Square (PLS) based on variance. This study found that the amount of working capital had a significant effect on the increasing profitability and the business environment was not a significant moderation of the effect of working capital on profitability.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El propósito de esta investigación es proporcionar evidencia empírica sobre el efecto del capital de trabajo sobre la rentabilidad y analizar el papel del entorno empresarial como factor para fortalecer y debilitar el efecto del capital de trabajo sobre la rentabilidad. La población de este estudio fueron todas las empresas públicas de Indonesia, excepto las del sector financiero. Se realizaron técnicas de muestreo intencional para seleccionar 74 empresas en el período 2014-2016. Los datos consistieron en 222 observaciones y se analizaron de manera descriptiva. También se utilizaron técnicas inferenciales mediante la implementación del modelado de ecuaciones estructurales (SEM) con mínimos cuadrados parciales (PLS) basados en la varianza. Este estudio encontró que la cantidad de capital de trabajo tuvo un efecto significativo en el aumento de la rentabilidad y el entorno empresarial no fue una moderación significativa del efecto del capital de trabajo en la rentabilidad.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[G10]]></kwd>
<kwd lng="en"><![CDATA[G30]]></kwd>
<kwd lng="en"><![CDATA[Q50]]></kwd>
<kwd lng="en"><![CDATA[Working capital]]></kwd>
<kwd lng="en"><![CDATA[Profitability]]></kwd>
<kwd lng="en"><![CDATA[Business environment]]></kwd>
<kwd lng="en"><![CDATA[Indonesia Stock Exchange (IDX)]]></kwd>
<kwd lng="es"><![CDATA[G10]]></kwd>
<kwd lng="es"><![CDATA[G30]]></kwd>
<kwd lng="es"><![CDATA[Q50]]></kwd>
<kwd lng="es"><![CDATA[Capital de trabajo]]></kwd>
<kwd lng="es"><![CDATA[Rentabilidad]]></kwd>
<kwd lng="es"><![CDATA[Entorno de negocio]]></kwd>
<kwd lng="es"><![CDATA[Bolsa de Indonesia (IDX)]]></kwd>
</kwd-group>
</article-meta>
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