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All Journal JBMP (Jurnal Bisnis, Manajemen dan Perbankan) JASa (Jurnal Akuntansi, Audit dan Sistem Informasi Akuntansi)
Noor Marini Haji Abdullah
UiTM Cawangan Kelantan Malaysia
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Managerial Ownership's Impact on Tech Firms' Financial Distress Risk: Dampak Kepemilikan Manajerial terhadap Risiko Kesulitan Keuangan Perusahaan Teknologi Fachrul A Siregar; Meiko Andreas; Iskandar Muda; Noor Marini Haji Abdullah
JBMP (Jurnal Bisnis, Manajemen dan Perbankan) Vol. 11 No. 2 (2025): September
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/jbmp.v11i2.2173

Abstract

This study aims to examine how profitability and leverage influence the likelihood of financial distress among technology companies listed on the Indonesia Stock Exchange (IDX) from 2022 to 2024, and whether managerial ownership moderates these relationships. Using a quantitative research design with 102 firm-year observations, panel data regression analysis was employed to test the hypotheses. The results show that higher profitability significantly reduces the risk of financial distress, while higher leverage increases it. Notably, managerial ownership strengthens both of these relationships—intensifying the protective effect of profitability and exacerbating the risk-enhancing effect of leverage. These findings suggest that while profitability supports financial stability, excessive debt remains a critical risk factor, and managerial ownership plays a dual role that can amplify both positive and negative outcomes. This highlights the importance of balanced financial policies and effective corporate governance in navigating the volatile, innovation-driven technology sector.
Detecting Financial Distress in the Technology Industry: The Moderating Role of Managerial Ownership Meiko Andreas Pangaribuan; Fachrul A Siregar; Iskandar Muda; Noor Marini Haji Abdullah
JASa (Jurnal Akuntansi, Audit dan Sistem Informasi Akuntansi) Vol. 9 No. 2 (2025): August
Publisher : Program Studi Akuntansi Universitas Langlangbuana Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36555/jasa.v9i2.2861

Abstract

This study investigates the influence of internal financial factors profitability and leverage on the likelihood of financial distress in technology companies listed on the Indonesia Stock Exchange (IDX) during the period 2022–2024. Using a quantitative approach with 102 data observations, the study also examines the moderating role of managerial ownership in these relationships. Results show that profitability has a significant negative effect on financial distress, indicating that higher profitability lowers the risk of financial trouble. Conversely, leverage has a significant positive effect, suggesting that greater debt levels increase the probability of financial distress. Furthermore, managerial ownership strengthens both the negative relationship between profitability and financial distress and the positive relationship between leverage and financial distress. These findings highlight the importance of sound financial management and corporate governance mechanisms in improving the financial stability of technology firms operating in high-risk, innovation-driven environments.
Co-Authors Fachrul A Siregar Iskandar Muda Meiko Andreas Meiko Andreas Pangaribuan