the effect of debt to asset ratio, return on asset and total asset turnover on financial distress in property and real estate industry listed on the Indonesia Stock Exchange

Trinita, Janette (2023) the effect of debt to asset ratio, return on asset and total asset turnover on financial distress in property and real estate industry listed on the Indonesia Stock Exchange. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

The purpose of this research is to analyze the effect of Debt to Assets Ratio, Return on Assets and Total Assets Turnover on Financial Distress in property and real estate companies listed on the Indonesia Stock Exchange (IDX) for the year 2018-2021. Three independent variables used in this study are Debt to Assets Ratio, Return on Assets, and Total Assets Turnover. The dependent variable in this study is financial distress which will be measured by using the Altman Z-Score. This research uses secondary data obtained from property and real estate companies listed on the Indonesia Stock Exchange from 2018 to 2021. Using the purposive sampling method, 17 property and real estate companies that fulfill the criteria were selected as samples and result in total of 68 objects of observation. This research uses multiple linear regression as a data analysis method by utilizing SPSS 26. The result of this research shows that Debt to Assets Ratio has significant effect on financial distress partially. While, Return on Assets and Total Assets Turnover do not have significant effect on financial distress partially. Debt to Asset Ratio, Return on Assets and Total Assets Turnover simultaneously have a significant influence on financial distress./ Tujuan dari penelitian ini adalah untuk menganalisis pengaruh Rasio Utang terhadap Aset, Tingkat Pengembalian Aset dan Perputaran Total Aset terhadap Kesulitan Keuangan pada perusahaan properti and real estate yang terdaftar di Bursa Efek Indonesia (BEI) untuk periode 2018-2021. Tiga variable independen yang digunakan dalam penelitian ini yaitu Rasio Utang terhadap Aset, Tingkat Pengembalian Aset, dan Perputaran Total Aset. Variabel dependen dalam penelitian ini adalah kesulitan keuangan yang diukur dengan menggunakan Altman Z-Score. Penelitian ini menggunakan data sekunder yang diperoleh dari perusahaan properti dan real estate yang terdaftar di Bursa Efek Indonesia dari tahun 2018 hingga 2021. Dengan menggunakan metode purposive sampling, terpilih 17 perusahaan properti dan real estate yang memenuhi kriteria sebagai sampel dan menghasilkan total 68 objek pengamatan. Penelitian ini menggunakan regresi linear berganda sebagai metode analisis data dengan memanfaatkan SPSS 26. Hasil penelitian ini menunjukkan bahwa Rasio Utang terhadap Aset memiliki pengaruh signifikan terhadap kesulitan keuangan secara parsial. Sedangkan, Tingkat Pengembalian Aset dan Perputaran Total Aset tidak memiliki pengaruh signifikan terhadap kesulitan keuangan secara parsial. Rasio Utang terhadap Aset, Tingkat Pengembalian Aset dan Perputaran Total Aset secara simultan memiliki pengaruh signifikan terhadap kesulitan keuangan.

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