Electronic Theses and Dissertation

ABSTRAK


Persaingan pada era global saat ini menuntut setiap perusahaan untuk mampu bersaing secara ketat demi mempertahankan pasarnya. Penelitian ini bertujuan untuk mengetahui apakah rasio likuiditas, solvabilitas, efisiensi dan profitabilitas yang diukur menggunakan perbandingan rasio arus kas dengan laporan laba rugi dan neraca berpengaruh secara positif maupun negatif terhadap financial distress pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2015 - 2019. Data yang digunakan adalah data sekunder. Financial distress sebagai variabel dependen (terikat). Rasio likuiditas, solvabilitas, efisiensi dan profitabilitas sebagai variabel independen (bebas). Sampel yang digunakan dalam penelitian ini sebanyak 13 perusahaan yang diperoleh melalui metode purposive sampling. Penelitian ini melakukan pengujian ragresi data panel menggunakan bantuan software Eviews 10, uji asumsi klasik serta uji hipotesis. Hasil dari penelitian ini menunjukkan bahwa rasio likuiditas berpengaruh positif signifikan terhadap financial distress. Rasio solvabilitas berpengaruh secara negatif dan signifikan terhadap financial distress. Rasio efisiensi tidak berpengaruh dan tidak signifikan terhadap financial distress. Rasio Profitabilitas berpengaruh secara positif dan tidak signifikan terhadap financial distress. Hasil dari pengujian secara simultan rasio likuiditas, solvabilitas, efisiensi dan profitabilitas berpengaruh terhadap financial distress.


Kata kunci : Financial Distress, Rasio Likuiditas, Rasio Solvabilitas, Rasio Efisiensi dan Rasio Profitabilitas

ABSTRACT Competition in the current global era requires every company to be able to compete tightly in order to maintain its market. This study aims to determine whether the ratios of liquidity, solvency, efficiency and profitability are measured using a comparison of the cash flow ratio with the income statement and do not have a positive or negative effect on financial difficulties in manufacturing companies listed on the Indonesia Stock Exchange for the period 2015 - 2019. Data used is secondary data. Financial difficulties as the dependent variable (bound). The ratio of liquidity, solvency, efficiency and profitability as independent variables (independent). The sample used in this study as many as 13 companies obtained through purposive sampling method. This study tested the panel data regression using Eviews 10 software, classical assumption test and hypothesis testing. The results of this study indicate that the liquidity ratio has a significant positive effect on financial difficulties. The solvency ratio has a negative and significant effect on financial distress. The efficiency ratio has no effect and is not significant on financial distress. Profitability ratio has a positive and insignificant effect on financial distress. The results of simultaneous testing of liquidity ratios, solvency, efficiency and profitability have an effect on financial difficulties. Keywords: Financial Distress, Liquidity Ratio, Solvency Ratio, Efficiency Ratio and Profitability Ratio