THE EFFECT OF CAPITAL STRUCTURE, LIQUIDITY, SALES GROWTH AND COMPANY SIZE ON FINANCIAL DISTRESS
DOI:
https://doi.org/10.37301/jkaa.v21i2.237Keywords:
Financial Distress, Capital Structure, Liquidity, Sales Growth, Company SizeAbstract
This study aims to analyze the influence of capital structure, liquidity, sales growth, and company size on financial distress in retail sector companies listed on the Indonesia Stock Exchange (IDX) in 2020–2024. Financial distress refers to the stage of deterioration in a company's financial condition that occurs prior to bankruptcy. Companies experiencing financial distress can be predicted using the Altman Z-Score method. This type of research is quantitative research utilizing secondary data derived from company financial reports. Sample selection was carried out using a purposive sampling technique, resulting in 33 companies as research samples. The data analysis method used is Multiple Linear Regression Analysis, with hypothesis testing assisted by IBM SPSS software version 26. The results of the study found that: (1) capital structure does not affect financial distress; (2) liquidity has a positive effect on financial distress; (3) sales growth does not affect financial distress; and (4) company size has a negative effect on financial distress. This study contributes to the development of financial analysis models for predicting the likelihood of financial distress and provides a theoretical foundation for future research aimed at further advancing this field of study.
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