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Journal : IQTISHODUNA

ANALISIS PREDIKSI FINANCIAL DISTRESS SERTA PENGARUHNYA TERHADAP HARGA SAHAM DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING (Studi pada Perusahaan Jasa yang Terdaftar di Bursa Efek Indonesia Tahun 2009–2013) Bastomi, Mohamad; Meldona, Meldona
IQTISHODUNA IQTISHODUNA (VOL 11, NO: 2.
Publisher : Fakultas Ekonomi, UIN Maliki Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/iq.v11i2.3706

Abstract

All of investors value that financial distress conditions and the proportion of financial capitalstructure have effect to become fluctuation of stocks price. Therefore, the aim of this research is to know theeffects of financial distress to the stocks’ price either direct or indirect through financial capital structure. Thisresearch uses descriptive quantitative approach by using sector of service listed in BEI year 2009–2013 as theobject. The sampling method used is purposive sampling. There are 23 companies that have categorized assample. The method that used to predict financial distress is z-score Altman method, whereas to analyst thehypothesis is used path analysis through SPSS TEST by consideration of test classic assumption. Based onthe result the research shows that financial distress gives negative impact to the stocks’ price. Financialdistress caused by capital loss so decrease work of money that effect to the decrease stocks price. It might becaused of using financial structure proportion doesn’t cause business risk that will emerge financial Distressuntil it doesn’t moving stocks price. From Altman z-score prediction shows from 23 companies 10 of it (APOL,BIPP BLTA, BTEL, FMII, HITS, IATA, LIMAS, RIMO, and TKGA) include on financial distress category.Meanwhile, 5 companies (BHIT, BKDP BMSR, OKAS, and ZBRA) include on gray area. Furthermore 8 companies(ASIA, BNBR, CENT, ELTY, LCGP, META, TRIL, and TRUB) include in save condition.
Co-Authors Abdillah Abdillah, Muhammad Zacky Abu Sofyan Abu Yajid Al Hamidi Achmad Agus Priyono Achmad Hasnin Wildani Adam Adam Adinda Nadillah Salsabila Afiani, Maulina Nur Agesta, Rifqi Naufal Agung Suprianto Agus Hermawan Ahmad Abiyu Tsani Ahmad Azim Shiraj Ahmad Naufal Ahmad Naufal, Ahmad Ahmad Nur Huda Ahmad Syukron Aisya, Adinda Alifia Akhmad Sa`ad Ainur Robbany Al Majdi, Raihan Zaki Alfi Hamidah Ansori Alif Anurul Hikmah Alycia Rahma Oktaviani Amali, Yunila Amalya, Rifky Aminudin, Khoirul Amir Faisol Andriansah, Elvin Andyka Rendy Indra Prasetya Anik Malikah Antika, Meggy Tri Aprilia, Rochimatul Ammar Ardianti, Farah Wahyu Arini Fitria Mustapita Ary Nasrun Asrikamongga, Aliva Erhan Sefira Asrori, Mukhammad Sobih Ayunani, Sabrina Azizah, Nur Rosyda Dhiya’ul Azizah, Wahyu Nur Azizatuz Zahro Bachrul Naba Basalamah, Muhammad Ridwan Bima Andhika Fernanda Budi Wahono Chamila, Mulida Noer Devana Sulistiowati Difla Nur Maulida Dinda Intan Pratiwi Dwi Mutmainah Dwiyani Sudaryanti Eka Farida Era Perdana Erika Diah Safitri Ermawati Ermawati Fadila, Inayatul Faiza Nur Afiyah Faizatul Mursyadah Fajar Bayhaqi Fajar Dini Harianto Fajriyah, Laili Fanani, Mohamad Zainal Farah Fatimatus Zahro Farah Wirdatul Baidla Fauziah, Nanik Fauziyah, Nia Asmaul Febriani, Rezki Febi Febriansyah, Aldhi Febrianti, Risma Ayu Febryansyah, Dani Fiqrianto, Mohamad Iqbal Fitria, Erni Wijiatul Fitriani, Nur Afika Gita Rahmy Gunawan, Fany Hakim, Taufiiqul Halimah, Faridatul Haliza, Siti Nur Haq, M Agung Izul Haq, Moh. Izzul Harun Alrasyid Hesti Saras Wati Hikmah, Kholis Mufaidatul Hilaria Wahon Idris, Ahmad Ifani, Dwi Iksan Hikmatullah Intan Nirwana A Irpan Musodikin Ismi Istihanah Hermawan Isyanuar, Nada Defina Jaffan, Jacky Jeni Susyanti Junaidi Karisma Monteha Khairun Anisah Khoirun Nisak Khusnul Khotimah Laksono, Felicia Averina Laurensia Lathifa Nur Khalila Latifatul Hamida Aziz Lestari, Siswi Muji M, Tiara Nur M. Agus Salim Al Fathoni M. Bujairromi Al-Khotib M. Mahruz Ali. Hs Mahardani, Ronny Malavia Mardliyah, Mahnunatul Marselino Eka Maulida, Rizki Sofa Mega Pramesti Priyanti Meldona Misriyatun, Misriyatun Moch. Farid Khafidz Khafili Mochammad Okta Dwika Surya Mochammad Syarifudin Mochammad Taufik Moh Nur Khumaini Khuluq Moh. Fikri Alghifari Moh. Isra Benasmi Moh. Istiaji Tasrik Mohammad Iqbal Kusuma Adrian Mohammad Rifki Abdillah Mohammad Rizal, Mohammad Muchammad Maslikhan Muh. Mushoffa Nufail Muhammad Dandy Ibrahim Muhammad Habibullah Nur Ihsan Muhammad Riyanto Gufron Muhammad Silmy Amjad Muhammad Yasir Ridha Mujahid Ansori Mukhammad Sobih Asrori Mursalina Mursalina Musodikin, Irpan Mu’arifah Cahya Winanti Nabila Nafisah Rahmawati Nadia Surya Safitri Nadziroh, Umi Aimmatun Nahdlia, Hikmatul Amalia Ni'mah, Nur Af'idatun Nikmatul Hidayah Nisa’i, Chayrun Niswah Itsna R Nizam, Muhammad Sahrun Noer Chofifah Indahwati Novianur Wahyuningtyas Nur Diana Nur Hidayati Nurfaindah Lestari Nurhayati, Susi Alistina Nurhidayah Nurhidayah Nurhidayah Nurhidayah Nurhidayah Nurlailah Nurlailah Nurwasilah Nurwasilah Nuswantara, Setiaji Priyagung Nutkhofifah, Risma Aliatun Nu’man, M. Syauqy Ocvitasari, Dini Oktrivan Bramantya Ilham Pratista, Ilham Pratiwi, Cantika Puspa Priyatno, Rizaldi Bugi Puji Handayati Putri, Handini Eka Rachman, Fahmia Nur Fitria Rahmat Hidayat Raisya A Yasmin Rana, Dhifah Tsabitah Ray Aldi Ludiansyah Revita Widya P Ridah Anjar Sari Rio Fadilah Rizkiani, Iftitah Rofiqul Jari Rois Arifin Ronny Malavia Mardani Ronny Malavia Mardani Sabilla, Rizki Safira, Mela Gita Salim, Vincencia Carolina Salsabillah, Via Amelya Sari, Ridah Anjar Sembiring, Rinawati Septa Slamet Dwiono Setyowati, Nia Ardhana Shinta Aulya Cahya Mukti Siti Aisjah Siti Asiyah Siti Fatimah Siti Humairoh, Siti Siti Ni’matul Umah Sitinjak, Veriananda Sudarmiatin Sugiarto, Syahwa Ladysta Suhari, Didik Suhartatik, Diah Putri Sulton Sholehuddin, Sulton Surya Aditya Syahputra, Arya Septya Syamsudin, M. Nur Syanggie Faizal Putra Syifaullima Fissudur Tami Erliani Tasrik, Moh. Istiaji Ubud Salim Ulfa Khoirun Nisa Ulhaq, Jihan Talidah Ulyah, Nadiratul Umi Aimmatun Nadziroh Umi Nandiroh Vanesa, Bibit Vieira, Abia Do Carmo Wahyudi, Rochman Widarko, Agus Widianisiskiwati Widianisiskiwati Widiawati, Maulina Widyaningrum, Sisca Wijaya, Hengki Vicky Yayang Enjelita Zakaria Zakaria Zakia Bahama Putri Hawa Zulaikah, June