Determinan Prediksi Financial Distress Model Altman Z Score dengan Profitabilitas sebagai Variabel Moderasi pada Perusahaan Subsektor Transportasi yang Terdaftar di Bursa Efek Indonesia Tahun 2020-2022

Abstract

The purpose of this study is to examine and analyze whether leverage, sales growth, operating capacity, and good corporate governance (GCG) influence the financial distress prediction of the Altman Z Score model with profitability as a moderating variable in transportation subsector companies listed on the Indonesia Stock Exchange in 2020 -2022. This research was carried out with a documentation study. This research uses secondary data, namely in the form of company financial reports for 2020-2022 which were published on the Indonesian Stock Exchange and can be obtained through website www.idx.co.id. The sampling technique used was the purposive sampling method. Hypothesis testing uses binary logistic regression analysis. The research results show that leverage has a positive and significant effect on financial distress. Meanwhile, sales growth, operating capacity and good corporate governance have no effect on financial distress. Apart from that, profitability is able to moderate the effect of leverage on financial distress. However, profitability is unable to moderate the influence of sales growth, operating capacity and good corporate governance on financial distress.