Abstract
This research aims to examine and analyze the impact of current ratio, return on assets, debt to asset ratio, and total asset turnover rate on the estimated financial distress status of retail trading companies listed on the Indonesian stock exchange. This research is a quantitative research. The data used in this study are second hand data. The totality of this research is the retail trade sub-sector companies that were listed on the Indonesian Stock Exchange from 2015 to 2019. The sampling technique is purposeful sampling, with a total of 17 companies. The analysis method used is logistic regression analysis. The results of this research analysis have a significant impact on the variable current ratio, asset return, asset liability ratio and total asset turnover. In part, the current ratio variable has a negative and significant effect, the asset return rate variable has a negative and significant effect, the asset liability ratio variable has a negative and insignificant effect, and the total asset turnover rate variable has a negative and significant effect. Estimate the financial distress status of companies in the retail trading sub-sector listed on the Indonesian Stock Exchange.Keywords: Financial distress, Current Ratio, Return On Assets, Debt to Assets Ratio, Total Assets Turnover
Highlights
Penelitian ini memiliki tujuan guna menguji serta menganalisis pengaruh Current Ratio, Return On Assets, Debt-To-Asset Ratio Dan Total Asset Turnover dalam memperkirakan keadaan financial distress di industri perdagangan ritel yang terdaftar pada Bursa Efek Indonesia
This research aims to examine and analyze the impact of current ratio, return on assets, debt-to-asset ratio, and total asset turnover rate on the estimated financial distress status of retail trading companies listed on the Indonesian stock exchange
The totality of this research is the retail trade sub-sector companies that were listed on the Indonesian Stock Exchange from 2015 to 2019
Summary
Meluasnya globalisasi pada saat ini mengakibatkan suatu negara tidak terhalang oleh batas dan dapat berkembang serta tumbuh dengan cepat. Mengingat negara Indonesia termasuk dalam negara yang berkembang dengan tingkat fluktuasi yang berubah-ubah, menjadikan hal ini selaku satu dari beberapa faktor yang mempunyai pengaruh kepada financial distress atau kesulitan keuangan. Hal ini bertujuan untuk menunjukkan kemungkinan risiko serta peluang perusahaan di masa depan dengan melihat perubahan kinerja perusahaan dalam berbagai periode.(Kasmir, 2011:104). Financial distress bisa dicerminkan dalam dua titik ekstren, yakni masalah likuiditas jangka pendek dan kesulitan finansial yang tidak dapat diselesaikan. Rasio leverage ini memperlihatkan besaran aset perusahaan yang mendapatkan biaya dari hutang, Maka karena itu mengharuskan pendapatan perusahaan melebihi hutang agar tidak terjadi financial distress. Dengan kas masuk yang semakin meningkat maka perusahaan memiliki kecukupan dana untuk menjalankan kegiatan operasinya sehingga perusahaan kemungkinan kecil mengalami financial distress. Plat dan Platt dalam Fahmi (2014:93) berpendapat bahwa tanda kebangkrutan suatu perusahaan dapat berupa penurunan status keuangan atau financial distress.
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