Financial Distress Dikaji Berdasarkan Rasio Keuangan pada Perusahaan Sektor Tekstil dan Garmen yang Terdaftar di BEI Tahun 2022-2023
DOI:
https://doi.org/10.59725/ema.v31i1.202Keywords:
financial distress, likuidity, leverage, profitability, activityAbstract
Manufacturing companies in the textile and garment sector play an important role in the national economy, contributing to global development every year, creating jobs and encouraging domestic and foreign investment. However, the influence of globalization triggered by the influence of internal and external parties can cause many companies to experience financial difficulties. So researchers are interested in conducting research using secondary data in the form of annual financial reports. This study aims to evaluate financial ratios related to the company's financial distress conditions and identify factors causing financial difficulties in companies in the textile and garment sector listed on the Indonesia Stock Exchange in 2022-2023. This study uses the Springate (S-Score) method and logistic regression analysis with the results of the analysis showing that liquidity has a significant negative effect on financial distress, leverage has a positive insignificant effect on financial distress, and profitability has a significant negative effect on financial distress, and activity has a positive insignificant effect on financial distress.
Downloads
References
Adawiyah, A. R., Gumelar, T. M., Krismonica, E., & Hasanah, R. (2022). Analisis rasio keuangan dalam memprediksi kesulitan keuangan pada perusahaan sektor keuangan yang terdaftar di Bursa Efek Indonesia tahun 2020. Jurnal Aktiva: Riset Akuntansi dan Keuangan, 4, 14–31.
Afriyani, F., & Nurhayati. (2023). Pengaruh rasio likuiditas, leverage, aktivitas dan profitabilitas terhadap financial distress pada perusahaan F&B. Jurnal Riset Akuntansi, 3(1), 23–30. https://doi.org/10.29313/jra.v3i1.1766
Aji, S., Sufyani, & Mujibah, M. A. (2017). Rasio keuangan dalam memprediksi kondisi financial distress perusahaan tekstil dan garmen. Jurnal Riset Bisnis dan Manajemen, 10, 11–13.
Aldo, H. I., Siswantini, T., & Murtatik, S. (2020). Leverage, profitabilitas, pertumbuhan penjualan terhadap financial distress pada perusahaan ritel di BEI. Prosiding BIEMA, 1, 60–74.
Amaniyah, E., & M. S. M. (2023). Buku referensi teori dan contoh financial distress. CV Eureka Media Aksara.
Amin, A. K., Santoso, T. R., Estrini, D. H., & Universitas Nasional Karangturi. (2022). Analisis pengaruh rasio keuangan terhadap prediksi kondisi financial distress (Studi pada perusahaan sektor transportasi di Bursa Efek Indonesia periode 2018–2020). Jurnal Arimbi (Applied Research in Management and Business).
Antoniawati, A., & Purwohandoko, P. (2022). Analisis pengaruh profitabilitas, likuiditas, dan leverage terhadap financial distress pada perusahaan transportasi yang terdaftar di BEI tahun 2018–2020. Jurusan Manajemen Fakultas Ekonomika dan Bisnis Universitas Negeri Surabaya, 10.
Azky, S., Suryani, E., & Tara, N. A. A. (2021). Pengaruh rasio keuangan terhadap financial distress pada perusahaan jasa sektor restoran, hotel & pariwisata yang terdaftar di Bursa Efek Indonesia. JMM UNRAM - Master of Management Journal, 10(4), 273–283. https://doi.org/10.29303/jmm.v10i4.691
Brigham, E. F., & Gapenski, L. C. (1997). Financial management: Theory and practice (8th ed.). Dryden Press.
Dewi, V. S., & Ekadjaja, A. (2020). Likuiditas dan ukuran perusahaan terhadap nilai perusahaan pada perusahaan manufaktur. Pengaruh Profitabilitas, 2.
Diana, B. M., & Yudiantoro, D. (2023). Pengaruh kinerja keuangan terhadap financial distress perusahaan sektor industri barang konsumsi di BEI 2018–2021. Jurnal Ekobistek, 12(2), 601–607. https://doi.org/10.35134/ekobistek.v12i2.595
Diyanto, V. (2020). The effect of liquidity, leverage and profitability on financial distress. Indonesian Journal of Economics, Social, and Humanities, 2(2), 127–133. https://doi.org/10.31258/ijesh.2.2.127-133
Gusti, I. A. P., Pramesti, N. P. A., & Mariati, A. M. (2021). Pengaruh profitabilitas, likuiditas, leverage, rasio aktivitas dan pertumbuhan penjualan untuk memprediksi kondisi financial distress. Karma.
Hariansyah, M. S., Soekotjo, & Hendri. (2020). Pengaruh rasio likuiditas, profitabilitas, dan aktivitas terhadap prediksi financial distress perusahaan tekstil dan garmen. Jurnal Ilmu dan Riset Manajemen.
Marsela, A., Kosim, B., Permana, A., & Ramadani, S. (2023). The influence of liquidity, profitability, leverage and operating cash flows in predicting financial distress in manufacturing companies in the consumption goods industry sector in Indonesia Stock Exchange.
Mujianto, R. A., & Hariyanto, D. (2024). The influence of earnings per share, return on equity, return on assets, and net profit margin on financial distress in the consumer cyclicals sector on the Indonesian Stock Exchange. Ekombis Review: Jurnal Ilmiah Ekonomi dan Bisnis, 12(3), 2621–2632. https://doi.org/10.37676/ekombis.v12i3
Mulyani, A., & Asmeri, R. (2020). The effect of profitability, liquidity and leverage in predicting financial distress (Empirical study on various industries companies listed on BEI). Jurnal Matua, 2(4), 259–278.
Pratama, D. A., & Setiawati, E. (2022). Pengaruh profitabilitas, likuiditas, leverage, dan aktivitas dalam memprediksi financial distress. Judicious, 3.
Rahman, B. N., Artinah, B., Alfian, M., & Basry, H. H. (2021). Faktor-faktor yang memengaruhi financial distress (Studi empiris pada perusahaan retail yang terdaftar di Bursa Efek Indonesia periode 2016–2018). JUMA, 22(1), 14411–1464.
Rissi, D. M., & Herman, L. A. (2021). Pengaruh likuiditas, profitabilitas, financial leverage, dan arus kas operasi dalam memprediksi kondisi financial distress. Jurnal Ilmu Manajemen, 16(2), 68–86.
Saraswati, D. M. A. S., Sukadana, I. W., & Widnyana, I. W. (2020). Pengaruh profitabilitas, likuiditas dan leverage terhadap kondisi financial distress pada perusahaan properti dan real estate yang terdaftar di Bursa Efek Indonesia. Values, 1, 4.
Susanti, W., & Takarini, N. (2022). Pengaruh likuiditas, profitabilitas, leverage, dan aktivitas dalam memprediksi financial distress pada perusahaan subsektor retail trade yang terdaftar di BEI. Ekonomis: Journal of Economics and Business, 6(2), 488. https://doi.org/10.33087/ekonomis.v6i2.591
Syachputra, R. M., & Kusumawati, E. (2024). Effect of financial performance and good corporate governance on financial distress. Jurnal Ilmu Ekonomi, 5.
Utami, R., & Siregar, H. (2020). The analysis of bankruptcy prediction model with adjustment of earning management on textile and garment sub-sector in Indonesia Stock Exchange. International Journal of Research and Review, 7(1), 1.
Widagdo, B., & Sa’diyah, C. (2022). Financial distress, dividend policy, RGEC and earning per share. Jurnal Ilmu Manajemen, 21(1), 37–45.
Wulandari, E. W., & Jaeni, J. (2021). Faktor-faktor yang mempengaruhi financial distress. Jurnal Ilmiah Universitas Batanghari Jambi, 21(2), 734. https://doi.org/10.33087/jiubj.v21i2.1495
