PENGARUH PROFITABILITAS, ARUS KAS, LEVERAGE DAN PERTUMBUHAN PERUSAHAAN TERHADAP FINANCIAL DISTRESS

SITI NAMIRA ALIGHASYA, . (2026) PENGARUH PROFITABILITAS, ARUS KAS, LEVERAGE DAN PERTUMBUHAN PERUSAHAAN TERHADAP FINANCIAL DISTRESS. Sarjana thesis, UNIVERSITAS NEGERI JAKARTA.

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Abstract

Penelitian ini dilakukan dengan tujuan untuk mengetahui pengaruh profitabilitas, arus kas, leverage, dan pertumbuhan perusahaan terhadap financial distress. Teknik pengambilan sampel dalam penelitian ini menggunakan metode purposive sampling dengan 84 perusahaan terpilih dari seluruh sektor basic materials yang terdaftar secara konsisten di Bursa Efek Indonesia selama tahun 2022-2024. Penelitian ini menggunakan sumber data sekunder yang berasal dari laporan keuangan perusahaan. Adapun teknik analisis data yang digunakan dalam penelitian ini adalah teknik regresi data panel dan diolah menggunakan software Econometric Views (EViews) versi 14. Hasil dalam penelitian ini membuktikan bahwa Profitabilitas berpengaruh negatif dan signifikan terhadap financial distress di mana nilai koefisien positif menunjukkan bahwa profitabilitas menaikkan nilai Altman Z-Score yang berarti semakin tinggi nilai profitabilitas maka Altman Z-Score semakin naik dan risiko financial distress akan menurun. Arus kas berpengaruh positif dan signifikan terhadap financial distress. Hal tersebut menunjukkan bahwa nilai arus kas operasi yang besar akan meningkatkan potensi risiko financial distress. Leverage berpengaruh positif dan signifikan terhadap financial distress di mana nilai koefisien yang negatif menunjukkan bahwa leverage yang tinggi dapat menurunkan nilai Altman Z-Score yang berarti kondisi perusahaan tidak baik dan risiko financial distress akan meningkat. Pertumbuhan perusahaan berpengaruh tidak berpengaruh terhadap financial distress. Hal tersebut menunjukkan bahwa tinggi atau rendahnya pertumbuhan penjualan belum tentu memengaruhi kemungkinan perusahaan mengalami financial distress karena penjualan yang tinggi juga berpotensi meningkatkan biaya operasional, biaya produksi, serta beban pendanaan yang harus ditanggung perusahaan.*****This study was conducted to examine the effect of profitability, cash flow, leverage, and firm growth on financial distress. The sampling technique employed was purposive sampling, resulting in 84 selected companies from the Basic Materials sector that were consistently listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. This study utilized secondary data obtained from the companies' financial statements. The data were analyzed using panel data regression with Econometric Views (EViews) version 14. The results of this study demonstrate that profitability has a negative and significant effect on financial distress. Although the regression coefficient is positive, it indicates that higher profitability increases the Altman Z-Score, implying that the higher the profitability, the higher the Altman Z-Score and the lower the risk of financial distress. Cash flow has a positive and significant effect on financial distress. This finding indicates that higher cash flow increases the risk of financial distress. Leverage has a positive and significant effect on financial distress. Although the regression coefficient is negative, it indicates that higher leverage decreases the Altman Z-Score, suggesting a deterioration in the company's financial condition and an increased risk of financial distress. Firm growth has no significant effect on financial distress. This finding indicates that a high or low sales growth rate does not affects the the likelihood of a company experiencing financial distress, as higher sales may also lead to increased operating costs, production costs, and financing expenses that must be borne by the company.

Item Type:	Thesis (Sarjana)
Additional Information:	1). Unggul Purwohedi S.E., M.Si., Ph.D., CMA ; 2). Diah Armeliza, S.E., M.Ak.,
Subjects:	Ilmu Sosial > Perdagangan, e-commerce > Akuntansi Ilmu Sosial > Keuangan
Divisions:	FE > S1 Akuntansi
Depositing User:	Siti Namira Alighasya .
Date Deposited:	20 Aug 2026 04:16
Last Modified:	20 Aug 2026 04:16
URI:	http://repository.unj.ac.id/id/eprint/71833

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