Pengaruh Rasio Keuangan pada Financial Distress
Abstract
The purpose of this study is to obtain empirical evidence about the effect of financial ratios on financial distress. This research was conducted on companies in the basic and chemical industry sectors listed on the Indonesia Stock Exchange in the 2016-2018 period. The sample was determined using the nonprobability sampling method with a purposive sampling technique. The number of samples used was 39 companies and the overall observation data for the 2016-2018 period was 117 observation data. The analysis technique used is logistic regression analysis. Based on the results of the study, it was stated that liquidity ratios had no effect on financial distress, leverage ratios had a positive effect on financial distress, profitability ratios had a negative effect on financial distress, activity ratios had no effect on financial distress and growth ratios had no effect on financial distress.
Keywords: Financial Distress; Financial Ratios; Logistic Regression.
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References
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Damayanti, L. D., Yuniarta, G. A., & Sinarwati, N. K. (2017). Analisis Pengaruh Kinerja Keuangan, Ukuran Komite Audit Dan Kepemilikan Manajerial Terhadap Prediksi Financial Distress (Studi Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2011-2015). E-Journal S1 Ak Universitas Pendidikan Ganesha, 7(1), 1–12.
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Keasey, K., Pindado, J., & Rodrigues, L. (2015). The determinants of the costs of financial distress in SMEs. International Small Business Journal: Researching Entrepreneurship, 33(8), 862–881. https://doi.org/10.1177/0266242614529317
Liu, W. C. (2017). Trade-off theory of capital structure: Evidence from estimations of non-parametric and semi-parametric panel fixed effect models. Investment Management and Financial Innovations, 14(1), 115–123. https://doi.org/10.21511/imfi.14(1).2017.12
Lubis, N. H., & Patrisia, D. (2019). Pengaruh Likuiditas, Leverage, dan Profitabilitas terhadap Financial Distress (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI periode 2013-2016). Jurnal Kajian Manajemen Dan Wirausaha, 1(1), 173–182. Retrieved from http://e-journal.uajy.ac.id/14649/1/JURNAL.pdf
Makeeva, E., & Khugaeva, M. (2018). Evaluation of financial distress costs of innovative companies. Russian Management Journal, 16(1), 37–62. https://doi.org/10.21638/11701/spbu18.2018.102
Manzaneque, M., Priego, A. M., & Merino, E. (2016). Corporate governance effect on financial distress likelihood: Evidence from Spain. Revista de Contabilidad, 19(1), 111–121. https://doi.org/10.1016/j.rcsar.2015.04.001
Maulida, I. S., Moehaditoyo, S. H., & Nugroho, M. (2018). Analisis Rasio Keuangan Untuk Memprediksi Financial Distress Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia 2014-2016. Jurnal Ilmiah Administrasi Bisnis Dan Inovasi, 2(1), 179–193. https://doi.org/10.25139/jai.v2i1.1149
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Mesak, D., & Sukartha, I. M. (2019). Financial Ratio Analysis in Predicting Financial Conditions Distress in Indonesia Stock Exchange. Russian Journal of Agricultural and Socio-Economic Sciences, 86(2), 155–165. https://doi.org/10.18551/rjoas.2019-02.18
Mittal, S., & Lavina. (2018). The Determinant Of Financial Distress In Indian Real Estate And Construction Industry. Gurukul Business Review-GBR, 14, 6–11.
Modigliani, F., & Miller, M. H. (1958). The Cost of Capital, Corporation Finance and the Theory of Investment. The American Economic Review, 48(3), 261–297. https://doi.org/10.1136/bmj.2.3594.952
Modigliani, F., & Miller, M. H. M. (1963). Corporate Income Taxes and the Cost of Capital: A Correction. American Economic Review, 53(3), 433–443. https://doi.org/10.1126/science.151.3712.867-a
Muflihah, I. Z. (2017). Analisis Financial Distress Perusahaan Manufaktur Di Indonesia dengan Regresi Logistik. Majalah Ekonomi, 12(2), 254–269.
Nurhayati, Kania, N., & Aprian, T. (2019). Pengaruh Sales Growth dan Keahlian Keuangan Komite Audit terhadap Financial Distress (Studi Empiris Pada Perusahaan Manufaktur Sub Sektor Otomotif dan Komponen yang Terdaftar di Bursa Efek IndonesiaPeriode 2012-2016). Kajian Akuntansi, 20(1), 80–86.
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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.v5i3.18996
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Published
2020-08-25
How to Cite
MAHANINGRUM, A. A. Istri Agung; MERKUSIWATI, Ni Ketut Lely Aryani.
Pengaruh Rasio Keuangan pada Financial Distress.
E-Jurnal Akuntansi, [S.l.], v. 30, n. 8, p. 1969 - 1984, aug. 2020.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/56503>. Date accessed: 25 apr. 2024.
doi: https://doi.org/10.24843/EJA.2020.v30.i08.p06.
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