Pengaruh likuiditas, leverage, sales growth dan good corporate governance terhadap financial distress pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2018 - 2020

Ramadhanty, Dea Nadya (2021) Pengaruh likuiditas, leverage, sales growth dan good corporate governance terhadap financial distress pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2018 - 2020. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

Penelitian ini bertujuan untuk menganalisa pengaruh dari likuiditas, leverage, sales growth dan good corporate governance terhadap financial distress pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2018 - 2020. Variabel independent yang digunakan dalam penelitian ini adalah likuiditas diukur menggunakan current ratio (CR), leverage diukur menggunakan debt to equity ratio (DER), sales growth diukur menggunakan penjualan tahun n dikurangi penjualan tahun n-1 dibagi penjualan tahun n-1, dan good corporate governance diproksikan dengan kepemilikan institusional, kepemilikan manajerial, audit committee dan komisaris independen. Financial distress diukur menggunakan interest coverage rate (ICR) untuk mengukur tingkat kesulitan perusahaan. Penelitian ini merupakan penelitian kuantitatif menggunakan laporan keuangan perusahaan yang terdaftar pada BEI periode tahun 2018 - 2020. Dengan menggunakan metode purposive sampling, terpilih 24 perusahaan aneka industri sebagai sampel dan menghasilkan 264 objek pengamatan. Teknik analisis data menggunakan regresi data panel. Hasil penelitain ini menunjukan bahwa likuiditas dan kepemilikan institusional memiliki pengaruh positif yang tidak signifikan terhadap financial distress secara parsial. Leverage, sale growth dan kepemilikan manajerial memiliki pengaruh negatif yang tidak signifikan terhadap financial distress secara parsial. Sedangkan audit committee memiliki pengaruh positif signifikan dan komisaris independen memiliki pengaruh negatif signifikan terhadap financial distress secara parsial. "/" This study aimed to analyze the effect of liquidity, leverage, sales growth and good corporate governance on financial distress in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2018 - 2020. The independent variable used in this study is liquidity measured using the current ratio. (CR), leverage is measured using the debt to equity ratio (DER), sales growth is measured using sales in n years minus sales in n-1 years divided by sales in n-1 years, and good corporate governance is proxied by institutional ownership, managerial ownership, audit committee and independent commissioner. Financial distress is measured using the interest coverage rate (ICR) to measure the company's level of difficulty. This research is a quantitative study using the financial statements of companies listed on the Indonesia Stock Exchange for the period 2018 - 2020. Using the purposive sampling method, 24 companies from various industries were selected as samples and produced 264 objects of observation. The data analysis technique used panel data regression. The results of this study indicate that liquidity and institutional ownership have a positive and insignificant effect on financial distress partially. Leverage, sales growth and managerial ownership have an insignificant negative effect on financial distress partially. While the audit committee has a significant positive effect and the independent commissioner has a significant negative effect on financial distress partially.

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