Determinants Of Financial Distress In Retail Trade Sub-Sector Companies In Indonesia
DOI:
10.47709/governors.v3i2.4315Keywords:
Cash flow, Financial distress, Liquidity, Profitability, Sales growthDimension Badge Record
Abstract
This study aims to identify the influence of cash flow, sales growth, liquidity, and profitability on financial distress. This study uses a quantitative approach by utilizing secondary data in the form of company financial statements. The population in this study is companies that belong to the retail trading sub-sector listed on the Indonesia Stock Exchange. The purposive sampling method was used to select 12 companies as research samples. The analysis method used is multiple linear regression. The results showed that cash flow, sales growth, and liquidity had a significant negative influence on financial hardship, which meant that an increase in these three variables tended to lower the risk of financial hardship. Meanwhile, the profitability variable did not show a significant influence on financial difficulties, indicating that the level of profitability was not directly related to the financial condition of the company that was experiencing difficulties. These findings provide important insights for company management in managing financial risks.
Abstract viewed = 42 times
References
Aisyah, N., Kristanti, F., & Zutilisna, D. (2017). Pengaruh Rasio Likuiditas, Rasio Aktivitas, Rasio Profitabilitas, Dan Rasio Leverage Terhadap Financial Distress (studi Kasus Pada Perusahaan Tekstil dan Garmen yang Terdaftar di Bursa Efek Indonesia Tahun 2011-2015). eProceedings of Management, 4(1).
Bernardin, D. E. Y., & Tifani, T. (2019). Financial Distress Predicted by Cash Flow and Leverage with Capital Intensity As Moderating. Jurnal Apresiasi Ekonomi, 7(1), 18-29.
Brigham, F. E. & Houston, J.F. (2010). Dasar–Dasar Manajemen Keuangan: Essentials Of Financial Management. Jakarta: Penerbit Salemba Empat.
Darto, D., Priharta, A., Maryati, M. (2023). Capital Adequacy Ratio, Likuiditas, Efisiensi Operasional, Ukuran Perusahaan dan Profitabilitas: Bukti Empiris pada Bank Umum Syariah di Indonesia. BALANCE Economic, Business, Management, and Accounting Journal 20(2), 132-138
Dwi, A. (2023). Deretan Retail Modern yang Tutup Gerai di Indonesia, Teranyar Ada Transmart Milik Chairul Tanjung. https://bisnis.tempo.co/read/175 2294/deretan-retail-modern-yang-tutup-gerai-di-indonesia-teranyar-ada-transmart-milik-chairul-tanjung?page_num=1. Diakses 18 Juni 2024.
Gani, N.A., Jaharuddin, Utama, R.E., & Priharta, A. (2019). Perilaku Organisasi. Jakarta: PT. Mirqat Ilmu Ihsani
Harahap, S. (2010). Analisa Kritis atas Laporan Keuangan. Jakarta: PT Raja Grafindo Persada.
Kasmir. (2017). Analisis Laporan Keuangan. (Edisi 10). Jakarta: PT. RajaGrafindo Persada.
Muntahanah, S., Huda, N. N., & Wahyuningsih, E. S. (2021). Profitabilitas, Leverage, dan Likuiditas Terhadap Financial Distress pada Perusahaan Consumer Goods yang Terdaftar di Bursa Efek Indonesia Periode 2015-2019. J-MAS (Jurnal Manajemen dan Sains), 6(2), 311-314.
Prasetya, E. R., & Oktavianna, R. (2021). Financial Distress Dipengaruhi oleh Sales Growth dan Intellectual Capital. JABI (Jurnal Akuntansi Berkelanjutan Indonesia), 4(2), 170-182.
Priharta, A., Darto, D., Gani, N.A., Jaharuddin, J. (2022). Anteseden Profitabilitas Bank BUMN di Indonesia. Jurnal Ekonomi Manajemen Perbankan (JEMPER) 4(1), 1-9
Priharta, A., & Gani, N.A., Jaharuddin, J., & Utama, R,E. (2022). Corporate Governance, Audit Quality, Firm Size and Leverage: Their Effect on Earnings Management. Technium Social Sciences Journal 38, 478-484
Priharta, A., Gani, N.A., Munawaroh, A., & Ananto, T. (2023). Corporate Governance, Financial Performance and Macroeconomics: The Impact on Bank Profitability Information. Jurnal Kajian Akuntansi, 7(2), 220-236
Priharta, A., & Rahayu, D.P. (2013). Pengaruh Laba Bersih dan Arus Kas Bersih Terhadap Dividen Tunai (Studi Kasus Bank BUMN yang Terdaftar di BEI). Jurnal Sosial Ekonomi Iqtishad 13(29), 1-20
Priharta, A., Rahayu, D.P., & Setiyaningsih, T. (2018). Pengantar Akuntansi Berbasis PSAK Terbaru. Bogor: Penerbit In Media.
Priharta, A., Rustiana, S.H., Rahayu, D.P., Maryati, M., Hadiansyah, N. (2022). Determinan Manajemen Laba pada Sektor Industri Barang Konsumsi di Indonesia. Jurnal Lentera Bisnis 11(1), 27-36
Priharta, A., Tantri, M., Gani, N.A., & Darto, D. (2023). Profitabilitas dan Likuiditas: Pengaruhnya Terhadap Nilai Perusahaan. Journal of Applied Business and Economic, 9(3), 257-267
Rahma, N. H., & Dillak, V. J. (2021). Pengaruh Struktur Modal, Ukuran Perusahaan, Sales Growth dan Intangible Asset Terhadap Financial Distress. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 5(3), 378-395.
Sianturi, L., Nopiyanti, A., & Setiawan, A. (2021). Pengaruh Likuiditas, Cash Flow dan Operating Capacity terhadap Financial Distress. In Prosiding BIEMA (Business Management, Economic, and Accounting National Seminar), Vol. 2, 531-549.
Sjahrial, R., Priharta, A., Parewangi, A.M.A., Hermiyetti, H. (2014). Modeling Financial Distress: The Case of Indonesian Banking Industry. EcoMod Conference Proceedings, Bank Indonesia.
Susilowati, P., I., M., & Fadlilah, M. R. (2019). Faktor-faktor yang Mempengaruhi Financial Distress pada Perusahaan Manufaktur di Indonesia. Jurnal AKSI (Akuntansi dan Sistem Informasi), 4(1).
Utama, R.E., Jaharuddin, Gani, N.A., & Priharta, A. (2019). Manajemen Operasi. Jakarta: Penerbit UM Jakarta Press.
Utami, M. (2015). Pengaruh Aktivitas, Leverage, dan Pertumbuhan Perusahaan Dalam Memprediksi Financial Distress. Jurnal Ekonomi dan Akuntansi, 3(1), 1-21.
Utari, M., Priharta, A., & Rahayu, D.P. (2018). Pengaruh Intellectual Capital Perusahaan Terhadap Kinerja Keuangan (Studi Empiris Pada Perusahaan Telekomunikasi, Jasa Komputer dan Lainnya serta Kimia yang Terdaftar di Bursa Efek Indonesia. Konferensi Nasional Ekonomi, Manajemen dan Akuntansi (KNEMA) 1, Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Jakarta.
Weston, J.F., & Copeland, T. E. (2010). Manajemen Keuangan. Jilid 2. Jakarta: Binarupa Aksara Publisher.
Widhiari, N.L.M.A., & Merkusiwati, N.K.L.A. (2015). Pengaruh Rasio Likuiditas, Leverage, Operating Capacity, dan Sales Growth terhadap Financial Distress. E-jurnal Akuntansi Universitas Udayana 11(2), 456-469.
Wulandari, V.S. & Fitria, A. (2019). Pengaruh Kinerja Keuangan, Pertumbuhan Penjualan dan Ukuran Perusahaan Terhadap Financial Distress. Jurnal Ilmu dan Riset Akuntansi, 8(1), 1-19.
Wulandari, E. W., & Jaeni, J. (2021). Faktor-Faktor Yang Mempengaruhi Financial Distress. Jurnal Ilmiah Universitas Batanghari Jambi, 21(2), 734-742.
Downloads
ARTICLE Published HISTORY
How to Cite
Issue
Section
License
Copyright (c) 2024 Fathurachman Fathurachman
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.