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DETERMINAN FINANCIAL RATIO TERHADAP FINANCIAL DISTRESS DI SEKTOR CONSUMER CYCLICALS
Abstract
ABSTRAK
Penelitian ini bertujuan untuk menganalisis pengaruh likuiditas, solvabilitas, profitabilitas, aktivitas, dan pasar terhadap financial distress perusahaan. Penelitian ini menggunakan metode kuantitatif dengan melakukan uji regresi logistik menggunakan SPSS 26, Populasi dan sampel didasarkan pada data keuangan perusahaan sektor consumer cyclicals tahun 2017 hingga 2024. Teknik pengambilan sampel dengan purposive sampling. Hasil penelitian menunjukkan bahwa semakin tinggi kemampuan perusahaan dalam memenuhi kewajiban jangka pendek, menjaga kestabilan profitabilitas, dan memperoleh kepercayaan dari pasar, maka semakin kecil kemungkinan perusahaan menghadapi kondisi financial distress. Sebaliknya, rasio aktivitas berpengaruh positif dan signifikan terhadap financial distress, mengindikasikan bahwa penggunaan aset yang terlalu agresif dapat meningkatkan risiko tekanan keuangan. Sementara itu, variabel solvabilitas tidak terbukti signifikan secara statistik, walaupun arah koefisien menunjukkan kecenderungan bahwa peningkatan proporsi utang dapat memperbesar risiko perusahaan mengalami financial distress.
Kata Kunci : Financial distress, Consumer Cyclicals, Rasio keuangan
ABSTRACTThe level of financial distress in companies has increased in recent years, so it is necessary to analyse the factors that influence it. This study aims to analyse the effect of liquidity, solvency, profitability, activity, and market on the company's financial distress This research uses quantitative methods by conducting logistic regression tests using SPSS 26, Population and samples are based on financial data of companies in the consumer cyclicals sector from 2017 to 2024. The sampling technique is purposive sampling. The results show that the higher the company's ability to meet short-term obligations, maintain profitability stability, and gain trust from the market, the less likely the company is to face financial distress. Conversely, activity ratios have a positive and significant effect on financial distress, indicating that overly aggressive use of assets can increase the risk of financial stress. Meanwhile, the solvency variable has not been proven to be statistically significant, although the direction of the coefficient shows a tendency that an increase in the proportion of debt can increase the risk of companies experiencing financial distress.
Keywords: Financial distress, Consumer Cyclicals, Financial ratios
Keywords
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DOI: http://dx.doi.org/10.35906/jurakun.v11i1.2375
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