PENGARUH KINERJA KEUANGAN TERHADAP FINANCIAL DISTRESS DENGAN KEPEMILIKAN MANAJERIAL SEBAGAI VARIABEL MODERASI

Rafqah Annisa Kusumaningrum; Farida Titik Kristanti

doi:10.23969/oikos.v7i2.8282

Authors

Rafqah Annisa Kusumaningrum Telkom University
Farida Titik Kristanti Telkom University

DOI:

https://doi.org/10.23969/oikos.v7i2.8282

Abstract

In facing competition with other business units, a company must maintain its business stability. Individuals who have an interest in an organization trust that this security will keep going quite a while so the organization can keep on running its tasks and can give development to keep up with its business. It is possible for a business to find itself in financial trouble if it is unable to compete with its rivals. This study plans to decide the impact of monetary execution which incorporates the proportion of liquidity, influence, action, and income to monetary misery with administrative proprietorship as a directing variable. Secondary data from the 2017-2021 annual financial reports of companies in the energy sector listed on the Indonesia Stock Exchange were used. MRA and logistic regression are the models that were used in this study. The findings demonstrated that the ratio of liquidity to cash flow can have a significant impact on financial distress, whereas the ratio of leverage to activity cannot have a significant impact on financial distress. Meanwhile, managerial ownership is able to significantly moderate the relationship between the liquidity ratio and financial distress, but not the relationship between the leverage ratio and activity to financial distress. Keywords: Activity; Cash flow; financial distress; leverage, liquidity, managerial ownership

Downloads

Download data is not yet available.

References

Blumberg, B., Cooper, D., & Schindler, P. (2014). EBOOK: Business Research Methods. McGraw Hill.

Christine Debby, Wijaya Jessica, Chandra Kevin, Pratiwi Mia, Lubis Syah Mahmuddin, & Nasution Asdiani Isna. (2019). Pengaruh Profitabilitas, Leverage, Total Arus Kas dan Ukuran Perusahaan terhadap Financial Distresspada Perusahaan Property dan Real Estate yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2017. Esya (Jurnal Ekonomi Dan Ekonomi Syariah), 2(2), 340–350.

Dianova, A., & Nahumury, J. (2019). Investigating the Effect of Liquidity, Leverage, Sales Growth and Good Corporate Governance on Financial Distress. Journal of Accounting and Strategic Finance, 2(2), 143–156. https://doi.org/10.33005/jasf.v2i2.49

Fahmi Irham. (2014). Pengantar Manajemen Keuangan (Djalil A. Muslim, Ed.). ALFABETA cv.

Febriyan, & Prasetyo, H. A. (2019). Pengaruh Arus Kas Operasi,Likuiditas, Leverage, Diversifikasi, dan ukuran perusahaan terhadap Financial Distress. Akuntansi Keuangan, 8(1), 103–116.

Giarto, R. V. D., & Fachrurrozie, F. (2020). The Effect of Leverage, Sales Growth, Cash Flow on Financial Distress with Corporate Governance as a Moderating Variable. Accounting Analysis Journal, 9(1), 15–21. https://doi.org/10.15294/aaj.v9i1.31022

Hanifah Oktita. (2013). Pengaruh Struktur Corporate Governance dan Financial Indicators terhadap Kondisi Financial Distress.

Hery. (2016). Analisis Laporan Keuangan. Center for academic publishing service.

Islamy Zulfa Aurellie, Purwohedi Unggul, & Prihatni Rida. (2021). Faktor-faktor yang Mempengaruhi Financial Distress Perusahaan Terdampak COVID-19 di ASEAN. Jurnal Akuntansi, Perpajakan, Dan Auditing-JAPA, 2(3), 710–734.

Jannah Miftahul Ayu, Dhiba Farah Zairina, & Safrida Eli. (2021). Pengaruh Sturktur Kepemilikan,Likuiditas dan Leverage Terhadap Financial Distress. Jurnal Akuntansi Keuangan Dan Perpajakan, 4(1), 14–23.

Kristanti. F. T. (2019). FINANCIAL DISTRESS Teori dan perkembangannya dalam konteks indonesia (Vol. 1). Inteligensia Media.

Kristanti, F. T., Rahayu, S., & Huda, A. N. (2016). The Determinant of Financial Distress on Indonesian Family Firm. Procedia - Social and Behavioral Sciences, 219, 440–447. https://doi.org/10.1016/j.sbspro.2016.05.018

Kristanti, F. T., Rahayu, S., & Isynuwardhana, D. (2019). The survival of small and medium business. Polish Journal of Management Studies, 20(2), 311–321. https://doi.org/10.17512/pjms.2019.20.2.26

Larasati, H., & Wahyudin, A. (2019). Accounting Analysis Journal The Effect of Liquidity, Leverage, and Operating Capacity on Financial Distress with Managerial Ownership as a Moderating Variable ARTICLE INFO ABSTRACT. Accounting Analysis Journal, 8(3), 214–220. https://doi.org/10.15294/aaj.v8i3.30176

Noviandri, T. (2015). Peranan Analisis Rasio Keuangan Dalam Memprediksi Kondisi Financial Distress Perusahaan Sektor Perdagangan. Jurnal Ilmu Manajemen, 2(4).

Octaviani, E. E., Ratnawati, D., Pembangunan, U., Veteran, N. ", & Timur, J. (2021). Pengaruh Leverage, likuiditas, dan profitabilitas terhadap financial distress dimoderasi oleh managerial ownership. 1(1), 246–258.

Prayogi, A., Murdianingsih, D., Handayani, T., Studi Akuntansi Fakultas Ekonomika dan Bisnis Universitas Peradaban, P., Studi Akuntansi STIE Assholeh, P., & Studi Manajemen STIE Assholeh, P. (2022). Peran Kepemilikan Manajerial sebagai Moderasi dalam Hubungan Rasio Keuangan dengan Financial Distress. Jurnal Pro Bisnis, 15(01), 67–81.

Purwaningsih, E., & Safitri, I. (2022). pengaruh profitabilitas,likuiditas,leverage,rasio arus kas dan ukuran perusahaan terhadap financial distress. Jurnal Akuntansi Dan Ekonomi, 7(2), 148–156.

Sanyasa Tyaga, M., & Kristanti, F. T. (2020). analisis survival dalam memprediksi kondisi financial distress. Buletin Studi Ekonomi, 25(1), 112–132. www.kemenperin.go.id

Setiawan, H., & Amboningtyas, D. (2018). financial ratio analysis for predicting financial distress conditions (Study on Telecommunication Companies Listed In Indonesia Stock Exchange Period 2010-2016). Journal of Management, 4(4), 1–18.

Syuhada, P., Muda, I., Akuntansi, M., & Ekonomi dan Bisnis, F. (2020). Pengaruh Kinerja Keuangan dan Ukuran Perusahaan Terhadap Financial Distress pada Perusahaan Property dan Real Estate di Bursa Efek Indonesia. Jurnal Riset Akuntansi Dan Keuangan, 8(2), 319–336. https://doi.org/10.17509/jrak.v8i2.22684

Wulandari P. (2022). Pengaruh Indikator Kesehatan Bank, Pertumbuhan Laba, Terhadap Return Saham Perbankan. Jurnal Akuntansi, Manajemen Dan Ekonomi, 1(2), 244–253.

Zhafirah, A., & Majidah, &. (2019). Analisis Determinan Financial Distress (Studi Empiris Pada Perusahaan Subsektor Tekstil dan Garmen Periode 2013-2017). Jurnal Riset Akuntansi Dan Keuangan, 7(1), 195–202. https://doi.org/10.17509/jrak.v7i1.15497