R Deni Muhammad Danial
Administrasi Bisnis, Universitas Muhammadiyah Sukabumi, Sukabumi, Indonesia

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Pengaruh Arus Kas Operasi, Leverage, dan Likuiditas terhadap Financial Distress dengan Profitabilitas Sebagai Variabel Mediasiā€ Kurnia Fitri; Nor Norisanti; R Deni Muhammad Danial
Ekonomis: Journal of Economics and Business Vol 10, No 2 (2026): September
Publisher : Universitas Batanghari Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33087/ekonomis.v10i2.2394

Abstract

This study aims to analyze the effect of operating cash flow, leverage, and liquidity on financial distress, with profitability as a mediating variable in property and real estate companies listed on the Indonesia Stock Exchange during the 2018-2022 period. The data used are secondary data in the form of company financial reports from the official website of the Indonesia Stock Exchange. The sampling technique used purposive sampling with certain criteria, resulting in 29 issuers as research samples. The analytical method used is Partial Least Squares-Structural Equation Model (PLS-SEM). The results of the study show varying results, including liquidity and profitability variables having a positive and significant effect on financial distress. Meanwhile, operating cash flow variables have a positive but insignificant effect on financial distress, while leverage variables have a negative and significant effect on financial distress. In addition, the mediation results indicate that profitability has not been able to mediate the relationship between operating cash flow, leverage, and liquidity on financial distress in property and real estate companies listed on the Indonesia Stock Exchange during the 2018-2022 period.