Setyaningsih Sri Utami
Universitas Slamet Riyadi Surakarta

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PENGARUH RASIO KEUANGAN TERHADAP FINANCIAL DISTRESS PADA PERUSAHAAN TELEKOMUNIKASI Sekar Mayang Sari; Setyaningsih Sri Utami; Dorothea Ririn Indriastuti
JURNAL EKONOMI DAN KEWIRAUSAHAAN Vol. 21 No. 1 (2021): Jurnal Ekonomi Dan Kewirausahaan : March
Publisher : Universitas Slamet Riyadi

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Abstract

The purpose of this study was to analyze the effect of liquidity ratios, leverage, and profitability on financial distress in telecommunications companies listed on the Indonesia Stock Exchange in 2013-2019. The population in this study were 6 companies listed on the Indonesia Stock Exchange in 2013-2019. Sampling with saturated sampling method and obtained 6 samples. Collecting data using documentation techniques through the Indonesia Stock Exchange website. The analysis technique used is the classical assumption test, multiple linear regression analysis, t test, F test, and the coefficient of determination. The results showed that simultaneously and partially the ratio of liquidity, leverage, and profitability had a simultaneous effect on financial distress.
Drivers of Financial Performance in Urban Art Markets: Access to Capital and the Isolation of Internal Entrepreneurial Assets Edi Wibowo; Setyaningsih Sri Utami; Sumaryanto Sumaryanto
Journal of Economics, Entrepreneurship, Management Business and Accounting Vol 4 No 4 (2026): Volume 4, Issue 4, July 2026
Publisher : CV. Sakura Digital Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61255/jeemba.v4i4.1352

Abstract

Purpose – This research investigates the drivers of financial performance among Micro, Small, and Medium Enterprises (MSMEs) in creative tourism districts. Specifically, it evaluates access to capital and network collaboration as direct predictors of financial performance, while examining intellectual capital and entrepreneurial orientation as internal antecedents of network collaboration within a mediation framework. Methodology – A quantitative approach was employed, collecting questionnaire data from MSME operators within the Urban Street Art Market along the Gatsu Corridor in Surakarta, Indonesia. Structural Equation Modeling via Partial Least Squares (PLS-SEM) was executed for measurement and structural model evaluations. Finding/Results – The results reveal that MSME financial performance is primarily driven by access to capital (β = 0.430, t = 5.650, p < 0.001) and network collaboration (β = 0.335, t = 3.599, p < 0.001). Conversely, intellectual capital and entrepreneurial orientation do not significantly affect network collaboration, leading to the rejection of all mediation hypotheses. The framework explains a moderate portion of financial performance (R² = 0.408) but is weak in predicting network formation (R² = 0.092). Originality/Value – This research highlights a unique empirical gap in creative art clusters: internal intellectual or entrepreneurial assets do not automatically foster external cooperation. Within informal creative spaces, collaborative networks behave as passive structures, implying that structural success depends more on systemic capital accessibility and external institutional support than on individual capacity building alone