PENGARUH LIKUIDITAS, LEVERAGE, DAN PROFITABILITAS TERHADAP FINANCIAL DISTRESS
Abstract
Financial distress merupakan kondisi penurunan kinerja keuangan perusahaan sebelum mengalami kebangkrutan. Perusahaan Sub Sektor makanan dan minuman yang terdaftar di BEI periode 2019-2023 mengalami penurunan kinerja keuangan yang dapat dilihat dari Ernings Per Share (EPS) selama lima tahun terakhir yang menyebabkan penelitian ini dilakukan mengenai pengaruh pengaruh likuiditas, leverage, dan profitabilitas terhadap financial. Likuiditas dalam penelitian ini diukur dengan Current Ratio (CR), leverage diukur dengan Debt to Equity Ratio (DER), dan profitabilitas diukur dengan Return on Asset (ROA), sedangkan financial distress diukur menggunakan Earnings Per Share (EPS). Penelitian ini menguji suatu hipotesis serta menggunakan pendekatan kuantitatif yang bersifat asosiatif. Penelitian ini berlokasi dan dilakukan pada perusahaan sub sektor makanan dan minuman Indonesia yang telah terdaftar dan mempublikasikan laporan keuangan di Bursa Efek Indonesia (BEI). Populasi pada penelitian ini adalah seluruh perushaaan sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) yang berjumlah 24 perusahaan pada periode 2019-2023. Pengambilan sampel pada penelitian ini menggunakan teknik probability sampling. Teknik analisisi penelitian ini adalah analisis regresi logistik (logistic regression). Hasil penelitian menunjukkan bahwa likuiditas dan profitabilitas berpengaruh negatif dan signifikan terhadap financial distress, sedangkan leverage tidak memiliki pengaruh signifikan terhadap financial distress.
Financial distress is condition of declining financial performance of company before going bankrupt. Food and beverage sub-sector companies listed on IDX for 2019-2023 period experienced decline in financial performance which can seen from Earnings Per over the past five years which caused this study to be conducted on the influence of liquidity, leverage, and profitability on financial. Liquidity in this study is measured by the Current Ratio, leverage is measured by the Debt to Equity Ratio, and profitability is measured by Return on Asset, while financial distress is measured using Earnings Per Share. This study tests hypothesis and uses associative quantitative approach. This research located and conducted at Indonesian food and beverage sub-sector companies that have been registered and published financial reports on the Indonesia Stock Exchange. The population in study were all food and beverage sub-sector companies listed on the IDX totaling 24 companies in the 2019-2023 period. Sampling in this study used the probability sampling technique. The analysis technique for this study is logistic regression analysis. The results of the study show that liquidity and profitability have a negative and significant effect on financial distress, while leverage does not have a significant effect on financial distress.
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References
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