Pengaruh Leverage, Likuiditas, dan Profitabilitas Terhadap Kesulitan Keuangan
Article Sidebar
Main Article Content
Abstract
This study aims to analyze the effect of leverage, liquidity, and profitability on financial difficulties. The sample used is the retail sub-sector companies listed on the Indonesia Stock Exchange for 2018–2020. The sample used the purposive sampling method and obtained as many as 13 companies from a total observation of 26 companies. SPSS (Statistical Program for Social Science) data processing application software was used to test hypotheses using a multiple linear regression analysis model. The results showed that leverage had a positive effect on financial difficulties. Liquidity has a negative effect on financial difficulties. Profitability has a negative effect on financial difficulties. This research can be considered in making investment decisions by assessing each financial ratio and other information for accuracy in investing funds and getting the desired return. Companies need to maintain leverage ratios at a reasonable level and not too high, maintain liquidity ratios, and keep their activities at a high enough level to avoid financial difficulties and increase their ability to generate profits.
Article Details
References
Akmalia, A. (2020). Pengaruh Struktur Modal, Struktur Aset dan Profitabilitas Terhadap Potensi Terjadinya Financial Distress Perusahaan. Business Management Analysis Journal (BMAJ), 3(1), 1–21.
Asfali, I. (2019). Pengaruh Profitabilitas, Likuiditas, Leverage, Aktivitas, Pertumbuhann Penjualan Terhadap Financial Distress Perusahaan Kimia. Jurnal Ekonomi Dan Manajemen, 20(2), 56–66.
Bisnis.com. (2021). Kondisi Ritel Modern Tahun Ini, Hypermarket Masih Lemah.
Christine, D., Wijaya, J., Chandra, K., Pratiwi, M., Lubis, M. S., & Nasution, I. A. (2019). Pengaruh Profitabilitas, Leverage, Total Arus Kas dan Ukuran Perusahaan terhadap Financial Distress pada Perusahaan Property dan Real Estate yang Terdapat di Bursa Efek Indonesia Tahun 2014-2017. Jesya (Jurnal Ekonomi & Ekonomi Syariah), 2(2), 340–350. https://doi.org/10.36778/jesya.v2i2.102
Dewi, N. L. P. A., Endiana, I. D. M., & Arizona, I. P. E. (2019). Pengaruh Rasio Likuiditas, Rasio Leverage dan Rasio Profitabilitas Terhadap Financial Distress Pada Perusahaan Manufaktur. Journal of Chemical Information and Modeling, 53(November), 1689–1699.
Dirman, A. (2020). Financial Distress: The Impacts Of Profitability, Liquidity, Leverage, Firm Size And Free Cash Flow. International Journal of Business, Economics and Law, 22(1), 17–25.
Fransiskus, S. M. J., Murni, S., & Rogi, M. (2020). Pengaruh Roa, Der, Current Ratio Terhadap Harga Saham Pada Perusahaan Food and Beverages Yang Terdaftar Di Bursa Efek Indonesia Periode 2014-2018. Jurnal EMBA, 8(4), 60–68.
Indrati, M., & Putri, E. (2021). Effect of Current Ratio, Net Profit Margin, Debt Equity Ratio, Return on Equity on Financial Distress. American International Journal of Business Management (AIJBM), 4(10), 33–40.
Izzalquny, T. R., Subroto, B., & Ghofar, A. (2019). the Effect of Leverage, Liquidity, and Profitability on Disclosure of Financial Statements By Moderation of Auditor Quality in Indonesian Manufacturing Companies. South East Asia Journal of Contemporary Business, Economics and Law, 18(5), 215–222.
Kartika, R., & Hasanudin, H. (2019). Analisis Pengaruh Likuiditas, Leverage, Aktivitas, Dan Profitabilitas Terhadap Financial Distress Pada Perusahaan Terbuka Sektor Infrastruktur, Utilitas, Dan Transportasi Periode 2011-2015. Oikonomia: Jurnal Manajemen, 15(1), 1–16. https://doi.org/10.47313/oikonomia.v15i1.640
Masdupi, E., Tasman, A., & Davista, A. (2018). The Influence of Liquidity, Leverage and Profitability on Financial Distress of Listed Manufacturing Companies in Indonesia. Advances in Economics, Business and Management Research, 57, 223–228. https://doi.org/10.2991/piceeba-18.2018.51
Rafatnia, A. A., Ramakrishnan, S., Abdullah, D. F. B., Nodeh, F. M., & Farajnezhad, M. (2020). Financial distress prediction across firms. Journal of Environmental Treatment Techniques, 8(2), 646–651.
Rohmadini, A., Saifi, M., & Darmawan, A. (2018). Pengaruh Profitabilitas, Likuiditas dan Leverage Terhadap Financial Distress. Jurnal Administrasi Bisnis, 61(2), 11–19.
Saefullah, E., Listiawati, & Abay, P. M. (2018). Analisis Kinerja Keuangan Menggunakan Profitabilitas Pada PT XL Axiata dan PT Indosat Ooreedo Periode 2011-2016. Analisis Kinerja Keuangan, 7(1), 37–72.
Santosa, P. W., Tambunan, M. E., & Kumullah, E. R. (2020). The role of moderating audit quality relationship between corporate characteristics and financial distress in the Indonesian mining sector. Investment Management and Financial Innovations, 17(2), 88–100. https://doi.org/10.21511/imfi.17(2).2020.08
Susanti, N., Latifa, I., & Sunarsi, D. (2020). The Effects of Profitability, Leverage, and Liquidity on Financial Distress on Retail Companies Listed on Indonesian Stock Exchange. Jurnal Ilmiah Ilmu Administrasi Publik, 10(1), 45. https://doi.org/10.26858/jiap.v10i1.13568
Tannia, Y., & Suharti. (2020). Analisis Pengaruh Debt to Equity Ratio, Debt to Asset Ratio, Price Earning Ratio dan Price to Book Value terhadap Harga Saham pada Perusahaan Sektor Pertanian. INVEST: Jurnal Inovasi Bisnis Dan Akuntansi, 1(1), 13–26.
Trisanti, T. (2020). Analysis of Factors that Lead to Financial Distress for Property and Real Estate Companies in Indonesia. INOBIS: Jurnal Inovasi Bisnis Dan Manajemen Indonesia, 3(3), 302–315. https://doi.org/10.31842/jurnalinobis.v3i3.139
Wijayanti, P. H., Miftah, M., & Siswantini, T. (2021). Faktor-Faktor Yang Mempengaruhi Financial Distress Pada Perusahaan Ritel. Jurnal Visionida, 7(2), 110–123.