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All Journal JURNAL PENELITIAN EKONOMI DAN AKUNTANSI (JPENSI)
SARI, DIVA AYU IMANDA SARI
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Economics, Econometrics & Finance

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Financial Distress in Manufacturing Companies: The Effects of Profitability, Liquidity, and Leverage Ratios with Audit Committee Moderation SARI, DIVA AYU IMANDA SARI
Jurnal Penelitian Ekonomi Dan Akuntansi Vol 10 No 2 (2025): JURNAL PENELITIAN EKONOMI DAN AKUNTANSI
Publisher : Program Studi Akuntansi Universitas Islam Lamongan

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Abstract

This study aims to provide empirical evidence on factors influencing financial distress in Indonesian manufacturing companies. Financial distress occurs when operating cash flow is insufficient to cover short-term liabilities, such as trade payables and interest expenses. The independent variables are profitability, liquidity, and leverage, with the audit committee as a moderating variable. From 181 companies listed on the IDX, 104 were selected through purposive sampling over a four-year period. Using descriptive statistics and logistic regression, the results show that profitability and liquidity have a negative and significant effect on financial distress, while leverage shows no significant effect. The audit committee does not moderate the relationships between these variables and financial distress.
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