Analisis Faktor-Faktor yang Mempengaruhi Financial Distress pada Perusahaan Sektor Energi yang Terdaftar di Bursa Efek Indonesia Periode 2021-2023

Abstract

This study aims to analyze the effect of liquidity, operating capacity, sales growth, managerial agency costs, firm size and board of directors size on financial distress listed on the Indonesia Stock Exchange for the 2021-2023 period. The population in this study were 67 energy sector companies listed on the Indonesia Stock Exchange in 2021-2023. The sampling technique used was the saturated sampling technique where this study used 201 initial observation data, which were then filtered into 184 data after removing outliers to ensure the validity of the analysis. This type of research is comparative research with a quantitative association approach. The type of research data is secondary data. The data were analyzed using descriptive statistics, classical assumption tests and multiple regression analysis. The results of the study show that simultaneously liquidity, operating capacity, sales growth, managerial agency costs, firm size and board of directors size have a significant effect on financial distress in energy sector companies listed on the Indonesia Stock Exchange for the 2021-2023 period. Partially, operating capacity, managerial agency costs and the size of the board of directors have a positive and significant effect on financial distress, liquidity and firm size has a negatif and significant effect on financial distress, and sales growth has no effect on financial distress.