Pengaruh Kinerja Keuangan, Biaya Keagenan, Dan Tata Kelola Terhadap Kemungkinan Financial Distress
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Abstract
This research aims to study the effect of financial performance, agency cost, and corporate governance on financial distress likelihood. This research subjects are manufacture firms listed in Indonesian Stock Exchange (BEI) in 2017-2019. This research observing firms annual and financial reports to collect data. Sample selection using purposive sampling, and 117 data used in this research. This research using logistic regression test. This research results are current ratio negatively effecting financial distress likelihood, debt to asset ratio not effecting financial distress likelihood, agency cost not effecting financial distress likelihood, managerial ownership positively effecting financial distress likelihood, institutional ownership not effecting financial distress likelihood, and independent commissioner proportion negatively effecting financial distress likelihood.
Penelitian ini bertujuan untuk mengetahui pengaruh kinerja keuangan, biaya keagenan, dan tata kelola perusahaan terhadap kemungkinan financial distress. Subjek penelitian merupakan perusahaan manufaktur yang terdaftar di BEI pada tahun 2017-2019. Penelitian ini mengobservasi pada laporan tahunan dan keuangan. Pemilihan sampel dilakukan dengan purposive sampling, dan jumlah sampel data yang digunakan sebanyak 117. Penelitian ini menggunakan pengujian regresi logistik. Hasil penelitian menunjukkan current ratio berpengaruh negatif terhadap kemungkinan financial distress, debt to asset ratio tidak berpengaruh terhadap kemungkinan financial distress, agency cost tidak berpengaruh terhadap kemungkinan financial distress, managerial ownership berpengaruh positif terhadap kemungkinan financial distress, institutional ownership tidak berpengaruh terhadap kemungkinan financial distress, serta independent commissioner proportion berpengaruh negatif terhadap kemungkinan financial distress.
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