Electronic Theses and Dissertation

Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas, leverage dan efisiensi terhadap financial distress yang dimoderasi oleh ukuran perusahaan pada Perusahaan Makanan dan Minuman yang tercatat di Bursa Efek Indonesia. Dengan periode penelitian 2019-2024 dan total sampel 19 Perusahaan Makanan dan Minuman dari populasi sebanyak 98 Perusahaan Makanan dan Minuman. Jenis penelitian ini adalah penelitian kuantitatif. Teknik pengambilan sampel menggunakan metode purposive sampling. Metode analisis yang digunakan adalah analisis regresi linear berganda dan moderated regression analysis (MRA), diolah menggunakan software Eviews versi 12. Hasil penelitian menunjukkan bahwa profitabilitas berpengaruh negatif terhadap financial distress, artinya peningkatan profitabilitas dapat mengurangi risiko financial distress pada perusahaan. Selanjutnya leverage berpengaruh positif terhadap financial distress, yang menandakan bahwa peningkatan utang meningkatkan risiko financial distress. Efisiensi tidak berpengaruh terhadap financial distress, artinya peningkatan efisiensi tidak berpengaruh pada kondisi financial distress. Kemudian ukuran perusahaan sebagai variabel moderasi tidak mampu memperkuat atau memperlemah pengaruh profitabilitas, leverage serta efisiensi terhadap financial distress secara signifikan. Hal ini mengindikasikan bahwa pengaruh ketiga variabel tersebut terhadap risiko keuangan perusahaan tidak dipengaruhi oleh besarnya skala suatu perusahaan.
Kata kunci: Profitabilitas, Leverage, Efisiensi, Financial Distress, Ukuran Perusahaan, Perusahaan Makanan dan Minuman.

This study aims to analyze the effect of profitability, leverage, and efficiency on financial distress moderated by company size in Food and Beverage Companies listed on the Indonesia Stock Exchange. The study period is 2019-2024, with a total sample of 19 Food and Beverage Companies from a population of 98 Food and Beverage Companies. This research is quantitative in nature. The sampling technique used is purposive sampling. The analysis methods used are multiple linear regression analysis and moderated regression analysis (MRA), processed using Eviews software version 12. The results show that profitability has a negative effect on financial distress, meaning that an increase in profitability can reduce the risk of financial distress in companies. Furthermore, leverage has a positive effect on financial distress, indicating that an increase in debt increases the risk of financial distress. Efficiency has no effect on financial distress, meaning that an increase in efficiency has no effect on financial distress. Furthermore, company size as a moderating variable is unable to significantly strengthen or weaken the effect of profitability, leverage, and efficiency on financial distress. This indicates that the effect of these three variables on a company's financial risk is not influenced by the size of the company. Keywords: Profitability, Leverage, Efficiency, Financial Distress, Firm Size, Food and Beverage Companies.