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All Journal Digital Bisnis: Jurnal Publikasi Ilmu Manajemen Dan E-commerce
Firda Aulia
Universitas Dian Nusantara
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Pengaruh Struktur Aset, Leverage, dan Ukuran Perusahaan terhadap Financial Distress pada Perusahaan Infrastruktur yang Terdaftar di BEI Periode 2021–2025 Firda Aulia; Fathihani Fathihani
Digital Bisnis: Jurnal Publikasi Ilmu Manajemen dan E-Commerce Vol. 5 No. 1 (2026): Maret : Digital Bisnis: Jurnal Publikasi Ilmu Manajemen dan E-Commerce
Publisher : Universitas 45 Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30640/digital.v5i1.7959

Abstract

This study aims to analyze the effect of Asset Structure, Leverage, and Firm Size on Financial Distress among infrastructure companies listed on the Indonesia Stock Exchange during 2021–2025. This study employs a quantitative approach with a causal research design. The data used are secondary data obtained from companies’ annual financial reports through the Indonesia Stock Exchange, official company websites, and Stockbit Sekuritas. The population consists of 71 infrastructure companies listed on the Indonesia Stock Exchange during the study period. The sampling technique used is purposive sampling, resulting in 18 companies as the research sample. Financial Distress is measured using the Modified Altman Z-Score model, Asset Structure is measured by the ratio of fixed assets to total assets, Leverage is proxied by the Debt to Asset Ratio (DAR), while Firm Size is measured using the natural logarithm of total assets. Data analysis was conducted using multiple linear regression with IBM SPSS Statistics version 27 through descriptive statistical analysis, classical assumption tests, t-test, F-test, and coefficient of determination. The results show that Asset Structure, Leverage, and Firm Size significantly affect Financial Distress. The findings imply that companies should optimize fixed asset utilization to generate adequate revenue and cash flow. Management should also regularly evaluate asset productivity and improve investment efficiency in financial decision-making.
Co-Authors Fathihani, Fathihani