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Coal mining companies are the top three contributors to the national economy after the trade and retail sector and the agriculture and livestock sector. Coal mining companies show a negative trend in the achievement of return on assets (ROA), especially in 2021 as the peak experienced. This is none other than due to the Covid-19 pandemic that is spreading and has resulted in many company sectors experiencing setbacks due to the regional restrictions imposed. This implies that the majority of companies fail to achieve maximum return on assets but many companies experience losses in 2021. This study aims to determine the effect of operational efficiency, working capital turnover, and asset turnover on the rate of return on assets of coal mining companies listed on the Indonesia Stock Exchange in 2018-2022. The method used in this study is panel data regression which combines time series data, namely 2018-2022 and cross section data in the form of 16 companies, then classical assumption tests and hypothesis testing are carried out. The results of this study indicate that operational efficiency (BOPO) has a significant negative effect on the rate of return on assets (ROA). While working capital turnover (WCTO) and total asset turnover (TATO) have a significant positive effect on the rate of return on assets (ROA). KEYWORDS: Operational Efficiency (BOPO), Working Capital Turnover (WCTO), Total Asset Turnover (TATO), Return on Assets (ROA).
Hidayat et al. (Sat,) studied this question.