Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
P-Index
This Author published in this journals
All Journal Journal of Accounting Science
Fidela Agatha
Universitas Swadaya Gunung Jati
Economics, Econometrics & Finance

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
Liquidity, Leverage, and Bankruptcy Risk: Moderating Role of Firm Size in Indonesian Textile and Garment Firms Fidela Agatha; Krisdiana Krisdiana; Agustina Agustina
Journal of Accounting Science Vol. 10 No. 2 (2026): July
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/jas.v10i2.2131

Abstract

General Background: Bankruptcy risk assessment helps stakeholders identify financial vulnerabilities before operational failure occurs. Specific Background: Indonesian textile and garment companies face demand uncertainty, pressure on export values, cost volatility, and working capital constraints during the period 2020–2024. Knowledge Gap: Evidence on how firm size moderates the effects of liquidity and leverage on bankruptcy risk in this sector remains limited. Objective: This study investigates the impact of liquidity and leverage on bankruptcy risk and tests the moderating role of firm size. Methods: Data were collected from 13 textile and garment firms listed on the IDX, comprising 65 firm-year observations. Model selection and diagnostic tests were conducted, and panel regression with fixed effects and moderation was used for the analysis. Results: Liquidity was found to significantly increase the Altman Z-score and thus reduce bankruptcy risk. Leverage had no significant individual effect, but the combined effect of the two was significant. Firm size attenuated the effect of liquidity but did not significantly moderate the effect of leverage. Novelty: Firm size exerts a selective effect via the liquidity channel rather than through all financial determinants. Implications: Managers should pay particular attention to liquidity management.
Co-Authors Agustina Agustina Krisdiana Krisdiana