Pengaruh Likuiditas, Profitabilitas dan Leverage terhadap Prediksi Financial Distress
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Abstract
ABSTRACT
The importance of financial management as a vital aspect of the company should be considered and managed properly if the company remains to maintain the sustainable business. Development of an early warning system model is needed to anticipate the financial distress, because this model can identify and improve the condition prior to the crisis. This research aims to examine the liquidity (CR, QR), profitability (ROI, ROE), leverage (DER, DAR), the effect of financial distress. The sample used in this research is the company's transportation, infrastructure and utilities sector in Indonesia Stock Exchange (BEI) for the period year 2012-2016. This research uses purposive sampling, which obtained 171 samples of observations from 39 companies. The hypothesis is examined by using regression logistic. The result shows that the ratio of ROI havesignificant effect on the company’s financial distress. While the CR, QR, ROE DER and DAR have no effect on the company’s financial distress.
ABSTRAK
Pentingnya pengelolaan keuangan sebagai aspek vital perusahaan benar-benar harus diperhatikan dan dikelola dengan baik jika perusahaan tetap untuk dapat menjaga kelangsungan hidup usahanya. Diperlukan pengembangan model sistem peringatan untuk mengantisipasi adanya financial distress, karena model ini dapat digunakan sebagai sarana untuk mengidentifikasikan bahkan untuk memperbaiki kondisi sebelum sampai pada kondisi krisis. Studi ini bertujuan untuk meneliti pengaruh likuiditas (CR, QR), profitabilitas (ROI, ROE), leverage (DER, DAR), terhadap prediksi financial distress pada perusahaan sektor transportasi, infrastruktur dan utilities yang terdaftar di Bursa Efek Indonesia periode tahun 2012-2016. Pengambilan sampel dengan menggunakan purposive sampling dan diperoleh sebanyak 171 sampel observasi dari 39 perusahaan. Pengujian hipotesis dilakukan dengan menggunakan regression logistik. Hasil pengujian hipotesis mununjukkan bahwa variabel ROI berpengaruh signifikan terhadap financial distress perusahaan. Sedangkan variabel CR, QR, ROE, DER dan DAR tidak berpengaruh terhadap financial distress perusahaan.
JEL Classification: M40, G18
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