Analisis Faktor-Faktor yang Mempengaruhi Probabilitas Financial Distress pada Perusahaan Manufaktur Sub Sektor Industri Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2020-2022

Abstract

This study aims to determine and analyze the effect of Sales Growth, Leverage, Profitability, Operating Capacity, Company Size, Operating Cash Flow on the Probability of Financial Distress in manufacturing companies in the food and beverage industry sub-sector listed on the Indonesia Stock Exchange for the 2020-2022 period. This research is associative with a quantitative approach and the type of data used is secondary data obtained from financial statements published on the Indonesia Stock Exchange (www.idx.co.id) website and related company websites. The population in this study is manufacturing companies in the food and beverage industry sub-sector listed on the Indonesia Stock Exchange for the 2019-2020 period, amounting to 24 companies and the entire population is sampled in this study. The analysis technique used is a multiple linear analysis technique of panel data with a Random Effect Model approach. The results of this study show that Sales Growth has a negative and significant effect on the Probability of Financial Distress, Leverage has a positive and significant effect on the Probability of Financial Distress, Profitability has a positive and significant effect on the Probability of Financial Distress, Operating Capacity The Company Size has a positive and insignificant effect on the Probability of Financial Distress, and Operating Cash Flow has a negative and insignificant effect on the Probability of Financial Distress.