Pengaruh Likuiditas, Profitabilitas, Leverage, Ukuran Perusahaan Dan Tingkat Suku Bunga Terhadap Kondisi Financial Distress Pada 12 Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (Periode 2012-2018)

Abstract

Financial distress is a condition in which the company's financial condition is in an unhealthy state, but has not yet experienced bankruptcy. In Indonesia, several manufacturing companies experience financial instability, manufacturing profits tend to fluctuate, and some companies even experience negative operating income in 2010-2016. Financial distress has a great influence where not only the company will suffer losses but also the stakeholders. One way to predict financial distress is by analyzing financial ratios. This study aims to analyze the effect of liquidity, profitability, leverage, company size and interest rates on financial distress. This study uses quantitative research methods that have the characteristics associated with numerical and objective. The independent variables in this study are Liquidity (X1), Profitability (X2), Leverage (X3), Company Size (X4), and Interest Rate (X5) and the dependent variable in this study is Financial Distress (Y). The scale used is the ratio and nominal scale. The results of research and discussion show that in partial testing (t test), obtained from the tcount for Liquidity (CR) of 4.324 and the tcount for Profitability (ROA) of 2.441 is greater than the table of 1.989. And the tcount for Company Size is -4,059 smaller than the table value of -1,989. As for the variable Leverage (DAR) and Interest Rates, it has no effect on Financial Distress. The assessment is obtained from the tcount for Leverage (DAR) of -0.350 and the tcount for the Interest Rate of 1.080 is smaller than the table of 1.989. Whereas in simultaneous testing (F test) Liquidity (CR), Profitability (ROA), Leverage (DAR), Company Size and Interest Rates simultaneously affect the Financial Distress. The coefficient of determination obtained by 48.8%, while the remaining 51.2% is influenced by other factors that are ignored by the authors in this study.

Pengaruh Profitabilitas, Likuiditas, Leverage, dan Ukuran Perusahaan Terhadap Financial Distress Pada Perusahaan Consumer Non-Cyclicals yang Terdaftar di Bursa Efek Indonesia Periode 2019-2021

“…Dalam penelitian ini, likuiditas diukur dengan CR (Current Ratio). Variabel lain yang dapat mempengaruhi financial distress adalah variabel leverage, sebab leverage dapat menunjukkan seberapa besar perusahaan mendanai kebutuhan usaha maupun operasional yang bersumber dari utang (Hidayah et al, 2021;Sudaryo et al, 2019). Semakin tinggi rasio leverage, maka dapat menimbulkan resiko terjadinya kesulitan pembayaran utang saat jatuh tempo yang dapat membebani perusahaan di masa mendatang.…”

Dampak Profitabilitas, Rasio Likuiditas Dan Rasio Leverage Terhadap Financial Distress Pada Perusahaan Jasa Sub Sektor Property Dan Real Estate Di Indonesia

“…Menurut hasil penelitian Sudaryo, Y., Purnamasari, D., Sofiati, N. A., & Hadiana, A. (2019) Menunjukkan bahwa dalam pengujian menunjuka nilai koefisien determinasi yang diperoleh sebesar 48,8% serta menurut penelitian yang lain menurut Sudaryo, Y., Mohd Hassan Che Haat, Jumadil Saputra, Mohd Yusoff Yusliza and Zikri Muhammad (2021), menurut hasil penelitian ini menemukan bahwa likuiditas, profitabilitas, leverage, dan suku bunga berpengaruh signifikan terhadap financial distress serta Sudaryo, dkk (2021) Sumber: www.idx.co.id (diolah, 2021) Perkembangan persaingan pada saat ini semakin ketat, sehingga perusahaan harus meningkatkan kinerja keuangan perusahaan.…”

The Influence of Exchangeability, Leverage, Inflation, and Interest Rate on Financial Problems Among Manufacturing Companies Listed on Indonesia Stock Exchange During 2018-2021

“…Several researchers who have conducted research on the effects of"the rates in financial distress including [8], [12] and [13] stated that interest rates have an effect on financial distress, are contrary to the results of some research conducted by [14], [15], [16] and [17] which stated that interest rates have no effects on the stock prices. "…”

“…Interest rates give a signal about the conditions of a company in the country. Determination of the rates by Bank Indonesia is aimed to stabilize the rupiah exchange rate [12]. "…”