Faktor Penentu Financial Distress pada Perusahaan Sektor Pertanian yang Terdaftar di BEI Periode 2015-2019

https://doi.org/10.35912/simo.v3i2.852
Published: Oct 6, 2022

Abstract:

Purpose: The motive of this studiesto determine impact of ROA, CR, DER on financial distress the use of Altman Z-score approach.

Research Methodology: This studies is a quantitative research using panel data dimensions, descriptive and associative data analysis, non probability sampling and purposive sampling techniques, as well as using the random effects model analysis method on Eview10.

Result: The effects of this study suggest ROA has positive effect on the Z-Score, CR has positive effect on the Z-Score and DER has negative effect on the Z-Score, simultaneously ROA,CR,DER afffect financial distress.

Limitations: The limitations in this study are best performed within the argicultural area listed on Indonesia Stock Exchange for the 2015-2019 period in line with the researcher’s criteria by the use of ROA,CR,DER variabels in predicting the potential for financial distress and using Altman Z-score technique which has the opposite interpretation.

Contribution: Research contribution to provide information for argicultural sector companies to improve performance so as to avoid potential financial distress, be considered for investor earlier than making an investment so the get income, and as facts for in addition research.

Keywords:
1. Altman Z-Score
2. Current Ratio
3. Debt to Equity Ratio
4. Financial Distress
5. Return on Assets
Authors:
1 . Nurul Noviyani
2 . Eka Yulianti
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How to Cite
Noviyani, N., & Yulianti, . E. (2022). Faktor Penentu Financial Distress pada Perusahaan Sektor Pertanian yang Terdaftar di BEI Periode 2015-2019 . Studi Ilmu Manajemen Dan Organisasi, 3(2), 315–326. https://doi.org/10.35912/simo.v3i2.852
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Issue & Section
Vol. 3 No. 2 (2022): Oktober
Articles
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  2. Basuki, T. A. (2017). Analisis regresi dalam penelititan ekonomi & bisnis: dilengkapi aplikasi SPSS & EVIEWS. Jakarta: PT. Raja Grafindo Persada.
  3. Chairunesia, W., Buana, U. M., & Estate, R. (2020). Analysis of financial ratios and good corporate governance. International Journal of Management Studies and Social Science Research, 2(4), 255–266.
  4. Chandra, A., Wijaya, F., Angelia, & Hayati, K. (2021). Pengaruh debt to equity ratio, total assets turnover, firm size, dan current ratio terhadap return on assets. Jurnal Akuntansi, Keuangan, Dan Manajemen, 2(1), 57–69. https://doi.org/10.35912/jakman.v2i1.135
  5. Desiyanti, O., Soedarmo, W., Chandra, K., & Kusnadi, K. (2019). The effect of financial ratios to financial distress using altman z-score method in real estate companies listed in Indonesia Stock Exchange Period 2014 - 2018. Business and Entrepreneurial Review, 19(2), 119. https://doi.org/10.25105/ber.v19i2.5699
  6. 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
  7. 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. https://www.ijbel.com/wp-content/uploads/2020/08/IJBEL22_205.pdf
  8. Diyanto, V. (2020). The effect of liquidity, leverage and profitability on financial distress. Indonesian Journal of Economics, Social, and Humanities, 2(2), 127–133. https://doi.org/10.31258/ijesh.2.2.127-133
  9. Hakim, M. Z., Abbas, D. S., & Nasution, A. W. (2020). Pengaruh profitabiltas, likuiditas, leverage, kepemilikan manajerial, dan kepemilikan institusional terhadap financial distress (studi empiris pada perusahaan sektor property & real estate yang terdaftar di BEI periode 2016-2018). Competitive Jurnal Akuntansi Dan Keuangan, 4(1), 94–105. http://jurnal.umt.ac.id/index.php/competitive/article/download/2383/1450
  10. Hery. (2017). Kajian riset akuntansi. Jakarta: PT. Grasindo.
  11. Hikmah, H., & Afridola, S. (2018). Analisis penilaian financial distress menggunakan model altman (z-score) perusahaan manufaktur. Jurnal Niara, 11(2), 195–202. https://doi.org/10.31849/nia.v11i2.2142
  12. Ichsan Siregar, M., Saggaf, abdullah, Sulbahri Akbar, R., Arifin Aryo, M., Hidayat Muhammad, & Arifin, firmansyah. (2020). Financial performance of PT. Garuda Indonesia Tbk period 2018-2019. Jurnal Akuntansi, Keuangan, Dan Manajemen, 1(4), 315–324. https://doi.org/10.35912/jakman.v1i4.94
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  17. m.investing.com.
  18. Mesak, D. (2019). Financial ratio analysis in predicting financial conditions distress in Indonesia Stock Exchange. Russian Journal of Agricultural and Socio-Economic Sciences, 86(2), 155–165. https://doi.org/10.18551/rjoas.2019-02.18
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  21. Puro, N., Borkowski, N., Hearld, L., Carroll, N., Byrd, J., Smith, D., & Ghiasi, A. (2019). Financial distress and bankruptcy prediction?: a comparison of three financial distress prediction models in acute care hospitals. Journal of Health Care Finance, 1(1), 1–15.
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  26. Solihati, G. P. (2020). Effect of leverage, roa and audit committee against financial distress (Empirical. EPRA International Journal of Multidisciplinary Research (IJMR)-Peer Reviewed Journal, 6(4), 30–39. https://doi.org/10.36713/epra2013
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