Pengaruh Arus Kas Operasi, Profitabilitas, Leverage terhadap Financial Distress pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2019 – 2021

Abstract

Permasalahan pada penelitian ini banyak perusahaan mengalami penurunan laba hingga kerugian yang apabila tidak segera diantisipasi dapat menimbulkan financial distress hingga kebangkrutan yang banyak merugikan banyak pihak. Tujuan penelitian ini menguji pengaruh arus kas operasi, profitabilitas, leverage terhadap financial distress pada perusahaan manufaktur yang terdaftar di BEI tahun 2019 – 2021. Variabel independen yang digunakan dalam penelitian ini adalah arus kas operasi, profitabilitas dan leverage. Jenis penelitian yang digunakan yaitu penelitian asosiatif yang menggunakan metode kuantitatif. Jenis data penelitian ini yaitu data sekunder. Populasi pada penelitian ini sebanyak 176 perusahaan. Dengan metode purposive sampling diperoleh sampel sebanyak 26 perusahaan. Teknik analisis data menggunakan analisis regresi logistik dengan alat uji SPSS 25. Hasil uji ini menunjukkan secara parsial arus kas operasi tidak berpengaruh terhadap financial distress, profitabilitas tidak berpengaruh terhadap financial distress dan Leverage berpengaruh terhadap financial distress. Secara simultan arus kas operasi, profitabilitas dan leverage berpengaruh terhadap financial distress. The problem in this study was that many companies have experienced a decrease in profits to losses which, if not immediately anticipated, it could lead to financial distress to bankruptcy which was detrimental to many parties. The purpose of this study was to examine the effect of operating cash flow, profitability, leverage on financial distress in manufacturing companies listed on the IDX in 2019 - 2021. The independent variables used in this study were operating cash flow, profitability and leverage. The type of research used was associative research using quantitative methods. This type of research data was secondary data. The population in this study were 176 companies. With a purposive sampling method obtained a sample of 26 companies. The data analysis technique used logistic regression analysis with the SPSS 25 test tool. The results of this test showed that partially operating cash flow had no effect on financial distress, profitability had no effect on financial distress and leverage affects financial distress. Simultaneously operating cash flow, profitability and leverage affect financial distress.