Pengaruh Kapasitas Operasi, Arus Kas Operasi, Leverage Dan Komisaris Independen Terhadap Financial Distress Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (BEI) Periode 2012-2020

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh kapasitas operasi, arus kas operasi, leverage dan komisaris independen terhadap financial distress perusahaan sektor aneka industri yang terdaftar di Bursa Efek Indonesia selama periode 2012-2020. Dengan menggunakan metode purposive sampling diperoleh sampel sebanyak 4 perusahaan dalam kurun waktu 9 tahun sehingga diperoleh 36 data observasi. Hasil penelitian ini menyatakan bahwa kombinasi antara variabel independen yaitu kapasitas operasi, arus kas operasi, leverage dan komisaris independen dapat menjelaskan variabel dependen yaitu financial distress sebesar 65,7% dan sisanya sebesar 34,3% dijelaskan oleh variabel lain diluar penelitian ini. Penelitian ini menggunakan analisis regresi berganda dengan program aplikasi SPSS versi 21. Hasil penelitian secara simultan menyatakan bahwa variabel kapasitas operasi, arus kas operasi, leverage dan komisaris independen berpengaruh terhadap financial distress. Secara parsial variabel kapasitas operasi, arus kas operasi dan leverage berpengaruh secara positif dan signifikan terhadap financial distress. Sedangkan variabel komisaris independen tidak berpengaruh terhadap financial distress. This study aims to determine the effect of operating capacity, operating cash flow, leverage and independent commissioners on the financial distress of companies in various industries listed on the Indonesia Stock Exchange during the 2012-2020 period. Using the purposive sampling method, a sample of 4 companies was obtained within a period of 9 years so that 36 observational data were obtained. The results of this study state that the combination of independent variables, namely operating capacity, operating cash flow, leverage and independent commissioners, can explain the dependent variable, namely financial distress of 65.7% and the remaining 34.3% is explained by other variables outside this study. This study used multiple regression analysis with the SPSS application program version 21. The results of the study simultaneously stated that variable operating capacity, operating cash flow, leverage and independent commissioners influenced financial distress. Partially variable operating capacity, operating cash flow and leverage have a positive and significant effect on financial distress. Meanwhile, the independent commissioner variable has no effect on financial distress.