CD Tesis
Pengaruh Rasio Keuangan Terhadap Prediksi Financial Distress Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia
The purpose of this research was to examine the differences between financial ratios of healthy firms with companies experiencing financial distress and the effect of financial ratios to predict financial distress of the listed manufacturing companies in Indonesia Stock Exchange (IDX).
The study sample consisted of 44 firms, that 18 distress firms and 26 non-distress firms, and it is chosen by purposive sampling. The statistical methods used to test the research hypotheses are different test for the first hypothesis and logistic regression for the second hypothesis.
Results of this study indicate that there is a difference between financial ratios of healthy manufacturing firms with financial ratios of manufacturing companies experiencing financial distress. This research also provides evidence that Profit Margin, Liquidity, Operating Efficiency, Profitability, Financial Leverage, and Cash Position effect in predicting financial distress manufacturing company. Otherwise, the growth variable has no effect in predicting financial distress manufacturing company. This study also shows that the most dominant financial ratios in determining financial distress manufacturing company is sales divided by total assets (S/TA), Net Income divided by Total Assets (NI/TA), and Current Liabilities divided by Total Assets (CL/TA).
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