Pengaruh Likuiditas, Profitabilitas, Inflasi Dan Nilai Tukar Terhadap Financial Distress (studi Pada Perusahaan Sub Sektor Tekstil Dan Garmen Di Bursa Efek Indonesia Periode 2014-2018)

Intan Pujianty, Khairunnisa Khairunnisa

Abstract

Abstrak Financial distress merupakan kondisi dimana perusahaan sedang mengalami tekanan atau kesulitan keuangan. Financial distress yang berlangsung secara terus menerus secara bertahap dapat mengakibatkan perusahaan mengalami kebangkrutan. Pihak manajemen harus dapat mengantisipasi perubahan kondisi ekonomi dari sisi mikro dan makro yang dapat mempengaruhi kondisi keuangan perusahaan. Penelitian ini bertujuan untuk menguji pengaruh likuiditas, profitabilitas, inflasi dan nilai tukar terhadap financial distress pada perusahaan sub sektor tekstil dan garmen yang terdapat pada Bursa Efek Indonesia tahun 2014-2018. Data yang digunakan dalam penelitian ini diperoleh dari data laporan keuangan dan data inflasi dan nilai tukar dari website resmi Bank Indonesia. Penelitian ini menggunakan metode kuantitatif dan teknik pemilihan sampel yang digunakan yaitu purposive sampling dengan jumlah sampel sebanyak 13 perusahaan. Metode analisis data dalam penelitian ini adalah analisis regresi data panel. Hasil penelitian ini menunjukan bahwa secara simultan likuiditas, profitabilitas, inflasi, dan nilai tukar berpengaruh terhadap financial distress. Secara parsial, profitabilitas berpengaruh signifikan dengan arah negatif terhadap financial distress, sedangkan likuiditas, inflasi dan nilai tukar tidak berpengaruh signifikan terhadap financial distress. kata kunci: financial distress, inflasi, likuiditas, nilai tukar, profitabilitas Abstract Financial Distress is a condition the company is experiencing financial pressure or difficulty. Financial distress that happened continuously and gradually may lead the company to a bankruptcy. The management must be able to anticipate the economic changing from both micro and macro sides which can affect the company's financial condition. This study aimed to examine the effect of liquidity, profitability, inflation and exchange rates on financial distress in textile and garment sub-sector companies listed on the Indonesia Stock Exchange in 2014-2018. The data used in this study were obtained from the financial report, data inflation, and the exchange rate from the official website of Bank Indonesia. This study used quantitative methods and the sample selection technique used was purposive sampling with a total sample of 13 companies. The data analysis method in this study was panel data regression analysis. The results of this study indicated that simultaneously liquidity, profitability, inflation, and exchange rates had an effect on financial distress. Partially, profitability had a significant negative effect on financial distress, while liquidity, inflation and exchange rates had no significant effect on financial distress keywords: exchange rate, financial distress, inflation, liquidity, profitability

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