PENGARUH FREE CASH FLOW, CAPITAL INTENSITY, DAN FIRM SIZE TERHADAP FINANCIAL DISTRESS

NABIL MUZHAFFAR, . (2026) PENGARUH FREE CASH FLOW, CAPITAL INTENSITY, DAN FIRM SIZE TERHADAP FINANCIAL DISTRESS. Sarjana thesis, UNIVERSITAS NEGERI JAKARTA.

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Abstract

Penelitian ini bertujuan menganalisis pengaruh Free Cash Flow, Capital Intensity, dan Firm Size terhadap risiko Financial Distress melalui tingkat kesehatan keuangan perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2022–2024. Dari total populasi 274 perusahaan, dengan pendekatan purposive sampling diperoleh 187 sasmpel dengan total 561 observasi selama 3 tahun. Setelah transform keseluruhan variabel Free Cash Flow, serta outlier 112 observasi yang dikeluarkan, sehingga data akhir dalam analisis adalah 184 perusahaan dengan total 449 observasi. Analisis dilakukan menggunakan regresi data panel melalui Microsoft Excel dan EViews 13. Hasil studi menunjukkan temuan penting: Free Cash Flow dan Firm Size terbukti memiliki pengaruh negatif dan signifikan terhadap risko Financial Distres melalui tingkat kesehatan keuangan perusahaan. Sedangkan Capital Intensity memiliki pengaruh positif terhadap risiko Financial Distress melalui tingkat kesehatan keuangan perusahaan. Bagi perusahaan, temuan ini mengindikasikan bahwa Free Cash Flow yang tinggi dan Firm Size yang besar terbukti meningkatkan kesehatan perusahaan sehingga menurunkan risiko Financial Distress, maka manajemen perlu mengoptimalkan arus kas bebas secara produktif dan memastikan pertumbuhan usaha diimbangi efisiensi. Di sisi lain, rendahnya Capital Intensity terbukti meningkatkan kesehatan perusahaan sehingga menurunkan risiko Financial Distress, sehingga investasi pada aset perlu direncanakan secara terukur dan berorientasi pada produktivitas agar tidak menjadi beban struktural yang menekan kinerja keuangan perusahaan. ***** This study aims to analyze the effect of Free Cash Flow, Capital Intensity, and Firm Size on the risk of Financial Distress through the financial health level of manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2022–2024. From a total population of 274 companies, a purposive sampling approach yielded 187 samples with a total of 561 observations over three years. After transforming all Free Cash Flow variables and removing 112 outlier observations, the final dataset consisted of 184 companies with a total of 449 observations. The analysis was conducted using panel data regression through Microsoft Excel and EViews 13. The study findings reveal that Free Cash Flow and Firm Size are proven to have a negative and significant effect on Financial Distress risk through the financial health level of the companies, while Capital Intensity has a positive effect on Financial Distress risk through the financial health level of the companies. These findings indicate that higher Free Cash Flow and larger Firm Size are proven to improve financial health, thereby reducing the risk of Financial Distress, and therefore management needs to optimize free cash flow productively and ensure that business growth is accompanied by operational efficiency. On the other hand, lower Capital Intensity is proven to improve financial health and reduce the risk of Financial Distress, meaning that investment in assets must be planned in a measured and productivity oriented manner so as not to become a structural burden that undermines the company's financial performance

Item Type:	Thesis (Sarjana)
Additional Information:	1). Ati Sumiati, S.Pd., M.M; 2). Dr. Muhammad Yusuf, SE., MM.
Subjects:	Ilmu Sosial > Perdagangan, e-commerce > Akuntansi
Divisions:	FE > S1 Akuntansi
Depositing User:	Nabil Muzhaffar .
Date Deposited:	27 Jul 2026 04:57
Last Modified:	27 Jul 2026 04:57
URI:	http://repository.unj.ac.id/id/eprint/67267

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