Analisis Pengaruh Profitabilitas, Likuiditas, dan Leverage terhadap Financial Distress pada Perusahaan Transportasi yang Terdaftar di BEI Tahun 2018-2020

Antoniawati, Anita; Purwohandoko, Purwohandoko

doi:10.26740/jim.v10n1.p28-38

Cited by 17 publications

(29 citation statements)

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“…Kasmir (2010) describes that the liquidity ratio indicates a company's capability to fulfill short-term debts. However, this study's findings contrast with previous research by Kartika & Hasanudin (2019), Nurhamidah & Kosasih (2021), Sutra & Mais (2019), Setiyawan & Musdholifah (2020), Asmarani & Purbawati (2020), Carolina et al (2017), Liana & Sutrisno (2014, Hapsari (2012), Fitriyah & Haryati (2013), which state that the liquidity ratio, using the current ratio indicator, does not influence financial distress.…”

Section: Effect Of Liquidity On Financial Distresscontrasting

confidence: 99%

How liquidity, profitability, and leverage ratios influence financial distress: A study on Indonesian mining firms

Arifuddin,

Hadisantoso,

Sari

et al. 2023

JES

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This study investigates the impact of liquidity, profitability, and leverage ratios on financial distress in mining companies listed on the Indonesia Stock Exchange. It posits that higher liquidity in a company correlates with reduced financial distress. The research encompasses eight mining companies observed from 2016 to 2020. Purposive sampling was employed to select a sample of eight companies meeting specific criteria. The study utilizes multiple linear regression analysis as its analytical approach. The findings, significant at the 5% level, reveal that liquidity, profitability, and leverage ratios collectively exert a substantial influence on financial distress, accounting for 85.3% of the variance in the dependent variable. Specifically, the study concludes that: 1) Liquidity has a significant negative effect on financial distress, 2) Profitability also demonstrates a significant negative impact on financial distress, and 3) Leverage exhibits a significant positive effect on financial distress.

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Section: Effect Of Liquidity On Financial Distresscontrasting

confidence: 99%

How liquidity, profitability, and leverage ratios influence financial distress: A study on Indonesian mining firms

Arifuddin,

Hadisantoso,

Sari

et al. 2023

JES

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“…It means that leverage proxied on the DAR positively affects company value in the healthcare sector in the health services and medical equipment sub-sector listed on IDX in 2020-2021. It's similar to previous studies (Artamevia & Almalita, 2021;Detama & Laily, 2021;Harahap et al, 2020;Hidayat, 2018;Prabowo et al, 2016) that show leverage with various proxies has a positive effect on company value. It's related to the theory of Modigliani & Miller (1963), which stated that if a company uses debt to carry out operations close to 100%, the firm's value will also be close to the highest.…”

Section: The Impact Of Leverage On the Firm's Valuesupporting

confidence: 90%

“…Further, the efficiency and effectiveness of firm's asset utilization determine firm's value (Hidayat, 2018). Earlier studies Artamevia & Almalita (2021); Detama & Laily (2021); Harahap et al (2020); Hidayat (2018) demonstrate that leverage positively affects firm's value. Accordingly, we propose the following hypothesis: H5: Leverage positively affects firm's value.…”

Section: Leveragementioning

confidence: 98%

“…This issue is crucial because investors use firm's profitability to evaluate firm's ability to generate returns (Sukmawardini & Ardiansari, 2018). Prior studies Aamir et al (2022); Artamevia & Almalita (2021); Detama & Laily (2021); Djashan & Agustinus (2020); Putra (2020) indicate that profitability positively affects firm's value. Therefore, we propose the following hypothesis: H1: Profitability positively affects firm's value.…”

Section: Profitabilitymentioning

confidence: 99%

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Financial ratios and institutional ownership impact on healthcare firm’s value: A moderation role of leverage

Sihombing,

Husni,

Zakchona

2023

jeb

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The pandemic has caused a contraction in the global economy. Amidst the slowing of the economy, a sector still grows so-called healthcare. This is shown by the growth in the healthcare sector’s GDP during the pandemic, but the PBV data on these companies didn’t show a satisfactory result. This study assesses factors that might increase the firm’s value of healthcare companies, such as profitability, working capital, tangible assets, and institutional ownership moderated by leverage on the firm’s value. This research uses a panel data analysis technique with moderated regression analysis (MRA) in E-views 12, quarterly financial statements from 2020-2021 of nine companies in the subsector of health services and equipment from the healthcare sector. The empirical results show that tangible assets have a negative impact, and leverage positively impacts a firm’s value, while the other factors do not affect a firm’s value. Leverage can only moderate tangible assets to weaken the negative effect of tangible assets, while other factors can’t be moderated by leverage. This result shows that leverage must be optimised to maximize the firm’s value to reduce the negative effects of an investment in tangible assets.

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“…This study's results follow research conducted by Saraswati and Njotoprajitno (2022), which states that profitability does not affect financial distress. This is because the company has negative finances but can still finance its obligations and other expenses using other internal and external sources of funds, such as its own capital and retained earnings (Antoniawati and Purwohandoko, 2022). Therefore, this variable is not the correct measurement to overcome financial distress.…”

Section: Effect Of Profitability On Dscrmentioning

confidence: 99%

Financial Distress Solutions through Improved Financial Performance and GCG with CSR as moderating variable for consumer services companies

Difoasih

Sihombing

2023

JM-UIKA

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<em><span lang="EN-GB">The Covid-19 pandemic has reduced Indonesia's state revenue in the tourism industry. This is caused by government policies that impact companies making it difficult to run their business. As a result, financial performance and corporate governance can be disrupted. This study intends to analyze and determine the power of companies' financial performance and good corporate governance (GCG) in preventing and overcoming conditions of financial distress in a consumer services company. Based on purposive sampling, the data for this research are 21 consumer services companies listed on the Indonesia Stock Exchange 2019-2021. This study also examines interactions Corporate Social Responsibility (CSR), which is a moderating variable. This research is descriptive with a quantitative explanatory approach, namely a study whose purpose is to explain the relationship between the variables studied and describe them. This research method uses panel regression data analysis. Financial distress in research is measured by Debt Service Coverage (DSCR). Researchers found that liquidity has a positive effect on DSCR, and ownership concentration has a negative effect on DSCR. While profitability, the board size, and gender diversity do not affect DSCR. CSR can strengthen the effect of profitability on DSCR, CSR can weaken the effect of liquidity on DSCR, and CSR can strengthen the effect of ownership concentration on DSCR. This study suggests that the company's consumer services should focus on financial performance and corporate governance, especially on liquidity and concentration of ownership, to overcome problems of financial distress.</span></em>

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Analisis Pengaruh Profitabilitas, Likuiditas, dan Leverage terhadap Financial Distress pada Perusahaan Transportasi yang Terdaftar di BEI Tahun 2018-2020

Cited by 17 publications

References 0 publications

How liquidity, profitability, and leverage ratios influence financial distress: A study on Indonesian mining firms

How liquidity, profitability, and leverage ratios influence financial distress: A study on Indonesian mining firms

Financial ratios and institutional ownership impact on healthcare firm’s value: A moderation role of leverage

Financial Distress Solutions through Improved Financial Performance and GCG with CSR as moderating variable for consumer services companies

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