Published: 2024-07-10
Pengaruh Likuiditas, Profitabilitas, Leverage, dan Good Corporate Governance Terhadap Financial Distress
DOI: 10.35870/emt.v8i3.2776
Abstract
This study aims to analyze the effect of profitability, profitability, leverage, and good corporate governance on financial distress. This study is quantitative research. Quantitative Data obtained by using secondary data in the form of documentation of financial statements obtained through www.idx.co.id. This study will be proven by testing the hypothesis using statistical analysis methods with multiple linear regression analysis assisted using SPSS applications. The population used in this study is food and beverage subsector manufacturing companies listed on the Indonesia Stock Exchange for the period 2019-2022. The sampling method used in this study was purposive sampling. The results provide empirical evidence that liquidity, profitability, and independent commissioners have no effect on financial distress, while leverage, and managerial ownership influence financial distress.
Keywords
Liquidity; Profitability; Independent Commissioner; Leverage; Managerial Ownership; Financial Distress
Article Information
This article has been peer-reviewed and published in the Jurnal EMT KITA. The content is available under the terms of the Creative Commons Attribution 4.0 International License.
-
Issue: Vol. 8 No. 3 (2024)
-
Section: Articles
-
Published: 2024-07-10
-
License: CC BY 4.0
-
Copyright: © 2024 Authors
-
DOI: 10.35870/emt.v8i3.2776
AI Research Hub
This article is indexed and available through various AI-powered research tools and citation platforms. Our AI Research Hub ensures that scholarly work is discoverable, accessible, and easily integrated into the global research ecosystem.
Erika Dian Savitri, , Universitas Muhammadiyah Surakarta
Program Studi Akuntansi, Universitas Muhammadiyah Surakarta, Kabupaten Sukoharjo, Provinsi Jawa Tengah, Indonesia
Nursiam, , Universitas Muhammadiyah Surakarta
Program Studi Akuntansi, Universitas Muhammadiyah Surakarta, Kabupaten Sukoharjo, Provinsi Jawa Tengah, Indonesia
-
Antoniawati, A., & Purwohandoko, P. (2022). Analisis pengaruh profitabilitas, likuiditas, dan leverage terhadap financial distress pada perusahaan transportasi yang terdaftar di BEI tahun 2018-2020. Jurnal Ilmu Manajemen, 10(1). https://doi.org/10.26740/jim.v10n1.p28-38
-
Azalia, V., & Rahayu, Y. (2020). Pengaruh leverage, likuiditas, profitabilitas, dan ukuran perusahaan terhadap financial distress. Jurnal Ilmu dan Riset Akuntansi, 8(6). www.idx.co.id
-
Bachtiar, A., & Handayani, N. (2022). Pengaruh profitabilitas, leverage, capital intensity, dan arus kas operasi terhadap financial distress. Jurnal Ilmu dan Riset Akuntansi, 11(1). http://jurnalmahasiswa.stiesia.ac.id/index.php/jira/article/view/4445/4450
-
Dewi, A. S., Arianto, F., Rahim, R., & Winanda, J. (2022). Pengaruh arus kas, profitabilitas dan leverage terhadap financial distress saat masa pandemi pada perusahaan manufaktur terdaftar di BEI. Owner: Riset dan Jurnal Akuntansi, 6(3), 2814–2825. https://doi.org/10.33395/owner.v6i3.968
-
Effendi, M. A. (2009). The power of good corporate governance. Jakarta: Salemba Empat.
-
Fakhriyah Amanda, N., & Muslih, M. (2020). Pengaruh operating cash flow, dewan komisaris independen, struktur modal terhadap financial distress (Studi pada perusahaan manufaktur sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia periode tahun 2015-2018). Jurnal Manajemen, 7(2), 3057. https://openlibrarypublications.telkomuniversity.ac.id/index.php/management/article/view/13359/12929
-
Hanafi, M., & Halim, A. (2012). Analisis laporan keuangan (Cetakan Pertama). Yogyakarta: Penerbit UPP-AMP YKPN.
-
Harahap, A. K., Maysaroh, S., & Hisabi, A. (2022). Pengaruh good corporate governance (GCG), leverage, profitabilitas dan ukuran perusahaan terhadap financial distress pada perusahaan barang konsumsi yang terdaftar di Bursa Efek Indonesia. Jurnal Ekonomi dan Bisnis STIE Anindyaguna, 4(2), 425–438. https://jurnal.stieanindyaguna.ac.id/index.php/article/view/65
-
Indriani, E., & Mildawati, T. (2019). Pengaruh profitabilitas, aktivitas, likuiditas, leverage, dan arus kas terhadap financial distress pada perusahaan telekomunikasi. Jurnal Ilmu dan Riset Akuntansi, 8(4). http://jurnalmahasiswa.stiesia.ac.id/index.php/jira/article/view/2392
-
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency cost and ownership structure. Journal of Financial Economics, 3.
-
Kartika, R., & Hasanudin. (2019). Analisis pengaruh likuiditas, leverage, aktivitas, dan profitabilitas terhadap financial distress pada perusahaan terbuka sektor infrastruktur, utilitas, dan transportasi periode 2011-2015. Jurnal Ilmu Manajemen, 15(1). http://journal.unas.ac.id/oikonamia/article/viewFile/640/528
-
Kasmir. (2012). Analisis laporan keuangan. Jakarta: Rajagrafindo Persada.
-
Mulansari, R., & Setiyorini, W. (2019). Pengaruh good corporate governance dan financial indicators terhadap financial distress pada perusahaan properti dan real estate. Jurnal Akuntansi dan Perpajakan, 5(2), 62–64. http://jurnal.unmer.ac.id/index.php/ap
-
Munawir. (2014). Analisa laporan keuangan (Edisi ke-4, Cetakan ke-13). Yogyakarta: Liberty.
-
Oktaviani, N. D. D., & Lisiantara, G. A. (2022). Pengaruh profitabilitas, likuiditas, aktivitas, leverage, dan sales growth terhadap financial distress. Owner: Riset dan Jurnal Akuntansi, 6(3), 1649–1559. https://doi.org/10.33395/owner.v6i3.944
-
Ramadhani, A. S., & Lukviarman, N. (2009). Perbandingan analisis prediksi kebangkrutan menggunakan model Altman pertama, Altman revisi, dan Altman modifikasi dengan ukuran dan umur perusahaan sebagai variabel penjelas (Studi pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia). Jurnal Siasat Bisnis, 13(1), 15–28. https://journal.uii.ac.id/JSB/article/view/2011
-
Sekar, A., Siti, A., & Topowijono, R. H. (2017). Pengaruh likuiditas, leverage, profitabilitas, dan ukuran perusahaan terhadap financial distress studi pada perusahaan manufaktur sektor industri dasar dan kimia yang terdaftar di Bursa Efek Indonesia tahun 2012-2015. Jurnal Administrasi Bisnis (JAB), 43(1). https://media.neliti.com/media/publications/87722-ID-pengaruh-likuditas-leverage-profitabilit.pdf
-
Septiani, N. M. I., & Dana, I. M. (2019). Pengaruh likuiditas, leverage, dan kepemilikan institusional terhadap financial distress pada perusahaan properti dan real estate. E-Jurnal Manajemen Universitas Udayana, 8(5), 3110. https://doi.org/10.24843/ejmunud.2019.v08.i05.p19
-
Sitorus, F. D., Hernandy, F., Triskietanto, W., Angela, A., & Vanessa, V. (2022). Pengaruh likuiditas, leverage, profitabilitas dan ukuran perusahaan terhadap financial distress pada perusahaan barang konsumsi yang terdaftar di BEI tahun 2016-2020. Owner, 6(1), 85–98. https://doi.org/10.33395/owner.v6i1.530
-
Sudaryanti, D., & Dinar, A. (2019). Analisis prediksi kondisi kesulitan keuangan dengan menggunakan rasio likuiditas, profitabilitas, financial leverage, dan arus kas. Jurnal Ilmiah Bisnis dan Ekonomi Asia, 13(2), 101–110. https://doi.org/10.32812/jibeka.v13i2.120
-
Ulayya Adzroo, N., & Hari Suryaningrum, D. (2023). Pengaruh leverage, likuiditas, profitabilitas, sales growth, good corporate governance, dan corporate social responsibility terhadap financial distress pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2015-2019. Jurnal Ilmiah Wahana Akuntansi, 18(1), 128–150. https://doi.org/10.21009/wahana.18.018
-
Utami, Y. Z., & Taqwa, S. (2023). Pengaruh leverage, ukuran perusahaan, pertumbuhan penjualan, kepemilikan manajerial dan kepemilikan institusional terhadap financial distress. Jurnal Eksplorasi Akuntansi (JEA), 5(2), 539–552. https://doi.org/10.24036/jea.v5i2.720
-
Wibowo, A., & Susetyo, A. (2020). Analisis pengaruh profitabilitas, likuiditas, operating capacity, sales growth terhadap kondisi financial distress pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2015-2018. Jurnal Ilmiah Mahasiswa Manajemen, Bisnis dan Akuntansi, 2(6). https://doi.org/10.32639/jimmba.v2i6.687
-
Widarjo, W., & Setiawan, D. (2009). Pengaruh rasio keuangan terhadap kondisi financial distress. Jurnal Bisnis dan Akuntansi, 11(2).
-
Wijaya, J., & Suhendah, R. (2023). Pengaruh likuiditas, leverage, dan arus kas terhadap financial distress. Jurnal Ekonomi, 28(2), 177–196. https://doi.org/10.24912/je.v28i2.1468
-
Zatira, D., Sunaryo, D., Made, N., & Dwicandra, D. (2022). Pengaruh likuiditas dan implementasi good corporate governance (GCG) terhadap financial distress. Balance Vacation Accounting Journal, 6(2), 160–171.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Authors who publish with this journal agree to the following terms:
1. Copyright Retention and Open Access License
Authors retain copyright of their work and grant the journal non-exclusive right of first publication under the Creative Commons Attribution 4.0 International License (CC BY 4.0).
This license allows unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
2. Rights Granted Under CC BY 4.0
Under this license, readers are free to:
- Share — copy and redistribute the material in any medium or format
- Adapt — remix, transform, and build upon the material for any purpose, including commercial use
- No additional restrictions — the licensor cannot revoke these freedoms as long as license terms are followed
3. Attribution Requirements
All uses must include:
- Proper citation of the original work
- Link to the Creative Commons license
- Indication if changes were made to the original work
- No suggestion that the licensor endorses the user or their use
4. Additional Distribution Rights
Authors may:
- Deposit the published version in institutional repositories
- Share through academic social networks
- Include in books, monographs, or other publications
- Post on personal or institutional websites
Requirement: All additional distributions must maintain the CC BY 4.0 license and proper attribution.
5. Self-Archiving and Pre-Print Sharing
Authors are encouraged to:
- Share pre-prints and post-prints online
- Deposit in subject-specific repositories (e.g., arXiv, bioRxiv)
- Engage in scholarly communication throughout the publication process
6. Open Access Commitment
This journal provides immediate open access to all content, supporting the global exchange of knowledge without financial, legal, or technical barriers.