Pengaruh likuiditas, profitabilitas, solvabilitas, dan aktivitas terhadap financial distress pada perusahaan yang terdaftar di Bursa Efek Indonesia periode 2020-2021
Article Sidebar
Read Counter : 659
Download : 334
Main Article Content
Abstract
This research studies the effects of liquidity, profitability, solvability, and activity ratios on financial distress. The research subjects are firms listed in the Indonesian Stock Exchange (BEI) for the 2020-2021 period and were given a particular note by BEI to indicate that the companies were having financial difficulties. The research observed firms quarterly and used financial reports to collect data needed for the research. The sampling method used for this research is purposive sampling, with a total of 72 observation data used. A panel data regression model is used in this research, with EViews 10 as an instrument used to process the data. This research indicates that the profitability and activity ratio positively impacted financial distress, the solvability ratio negatively impacted financial distress, and the liquidity ratio had no significant impact on financial distress.
Penelitian ini mempunyai tujuan untuk mempelajari efek daripada rasio keuangan, seperti rasio likuiditas, profitabilitas, solvabilitas, dan aktivitas terhadap kesulitan keuangan. Subjek penelitian adalah emiten yang terdaftar di Bursa Efek Indonesia (BEI) pada tahun 2020-2021 dan juga diberikan notasi khusus oleh BEI sebagai penanda bahwa perusahaan tersebut sedang mengalami kesulitan keuangan. Penelitian ini mengamati perusahaan secara kuartal dan menggunakan laporan keuangan untuk mendapatkan data-data yang dibutuhkan. Metode pengambilan sampel pada penelitian ini adalah purposive sampling dengan total sebanyak 72 data pengamatan. Metodologi penelitian yang dilakukan adalah dengan menggunakan metode regresi data panel dengan bantuan EViews 10 sebagai alat untuk memproses data-data yang didapatkan. Hasil penelitian menunjukkan rasio profitabilitas dan aktivitas berpengaruh secara positif terhadap kesulitan keuangan, rasio solvabilitas berpengaruh secara negatif terhadap kesulitan keuangan, dan rasio likuiditas tidak mempunyai pengaruh terhadap kesulitan keuangan.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This work is licensed under a Jurnal Manajemen Bisnis dan Kewirausahaan Creative Commons Attribution-ShareAlike 4.0 International License.
References
Almilia, L. S. (2004). Analisis faktor-faktor yang mempengaruhi kondisi financial distress suatu perusahaan yang terdaftar di Bursa Efek Jakarta. The Indonesian Journal of Accounting Research, 7(1), 1–22. https://doi.org/10.33312/ijar.107
Altman, E. I. (1968). Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. The Journal of Finance, 23(4), 589. https://doi.org/10.2307/2978933
Altman, E. I. (2005). An emerging market credit scoring system for corporate bonds. Emerging Markets Review, 6(4), 311–323. https://doi.org/10.1016/j.ememar.2005.09.007
Arini, S. A., Samrotun, Y. C., & Masitoh, E. (2021). Determinant of financial ratio analysis to financial distress. Jambura Science of Management, 3(1), 26–35. https://doi.org/10.37479/jsm.v3i1.6962
Bernstein, L. A. (1984). Analysis of financial statements (Revised). McGraw-Hill.
Bukhori, I., Kusumawati, R., & Meilani, M. (2022). Prediction of financial distress in manufacturing companies: Evidence from Indonesia. Journal of Accounting and Investment, 23(3), 588–605. https://doi.org/10.18196/jai.v23i3.15217
Chairunesia, W. (2021). Financial ratios as a prediction tool for financial distress: Study on manufacturing companies listed in Indonesia stock exchange for the 2018-2019 period. International Journal of Management Studies and Social Science Research, 3(4), 189–198. https://ijmsssr.org/paper/IJMSSSR00475.pdf
Dwiantari, R. A., & Artini, L. G. S. (2021). The effect of liquidity, leverage, and profitability on financial distress (Case study of property and real estate companies on the IDX 2017-2019). American Journal of Humanities and Social Sciences Research, 5(1), 367–373. www.ajhssr.com
Fachrudin, K. A. (2008). Kesulitan keuangan perusahaan dan personal. USU Press.
Fahmi, I. (2020). Analisis laporan keuangan. Alfabeta.
Heniwati, E., & Essen, E. (2020). Which retail firm characteristics impact on financial distress? Jurnal Akuntansi dan Keuangan, 22(1), 40–46. https://doi.org/10.9744/jak.22.1.30-36
Hofer, C. W. (1980). Turnaround strategies. Journal of Business Strategy, 1(1), 19–31. https://doi.org/10.1108/eb038886
Kariyoto. (2017). Analisa laporan keuangan (Tim UB Press (ed.)). Universitas Brawijaya Press.
Lukman, H., Tanusdjaja, H., & Konsetta, N. (2017). The influence of financial ratios toward fincancial distress prediction with base lending rate as moderating variable: Case in mining industries in Indonesia. International Journal of Economic Research, 14(17), 1–9.
Mashudi, Himmati, R., Ardillah, I. F. R., & Sarasmitha, C. (2021). Financial distress prediction in infrastructure, utilities, and transportation sector companies 2015-2020. Jurnal Keuangan dan Perbankan, 25(3), 656–670. https://doi.org/10.26905/jkdp.v25i3.5858
Pasha, S. N., Pulungan, N. A. F., & Madelan, S. (2023). Financial distress in BUMN in Indonesia and factors affecting financial performance and health levels in BUMN companies. Ekonika : Jurnal Ekonomi Universitas Kadiri, 8(1), 200–222. https://doi.org/10.30737/ekonika.v8i1.3801
Platt, H. D., & Platt, M. B. (2002). Predicting corporate financial distress: Reflections on choice-based sample bias. Journal of Economics and Finance, 26(2), 184–199. https://doi.org/10.1007/bf02755985
Restianti, T., & Agustina, L. (2018). The effect of financial ratios on financial distress conditions in sub industrial sector company. Accounting Analysis Journal, 7(1), 25–33. https://doi.org/10.15294/aaj.v7i1.18996
Utami, D. W., Atmaja, H. E., & Hirawati, H. (2021). The role of financial ratios on the financial distress prediction. Kinerja, 25(2), 287–307. https://doi.org/10.24002/kinerja.v25i2.4661
Whitaker, R. B. (1999). The early stages of financial distress. Journal of Economics and Finance, 23(2), 123–132. https://doi.org/10.1007/bf02745946