FAKTOR-FAKTOR YANG MEMPENGARUHI FINANCIAL DISTRES PADA PERUSAHAAN MANUFAKTUR SUBSEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA - Aang Syahdina; Syafitri Amalia; Nur Suci Triningsih (MEDIA MANAJEMEN JASA, 2025)
ABSTRAK Penelitian ini menganalisis pengaruh likuiditas (Current Ratio/CR), profitabilitas (Return on Assets/ROA), dan leverage (Degree Financial Leverage/DFL) terhadap financial distress pada 28 perusahaan manufaktur subsektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) periode 2020-2023. Periode studi ini signifikan karena mencakup masa pandemi COVID-19 dan pemulihan ekonomi pasca-pandemi, yang memberikan wawasan unik tentang ketahanan finansial perusahaan. Menggunakan metode kuantitatif dengan analisis regresi berganda yang diolah melalui Eviews 13, hasil penelitian menunjukkan bahwa DFL berpengaruh positif dan signifikan terhadap financial distress. Sebaliknya, CR dan ROA menunjukkan pengaruh negatif dan signifikan terhadap financial distress. Secara simultan, ketiga variabel (CR, DFL, dan ROA) terbukti berpengaruh signifikan terhadap financial distress. Temuan ini menggarisbawahi pentingnya manajemen likuiditas, profitabilitas, dan leverage yang efektif untuk menjaga kesehatan finansial perusahaan, serta memberikan implikasi bagi investor dalam pengambilan keputusan. Kata Kunci: Financial Distress, Likuiditas, Leverage, dan Profitabilitas ABSTRACT This study analyzes the effect of liquidity (Current Ratio/CR), profitability (Return on Assets/ROA), and leverage (Degree Financial Leverage/DFL) on financial distress in 28 food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2020-2023. This study period is significant because it covers the COVID-19 pandemic and post-pandemic economic recovery, which provides unique insights into the financial resilience of companies. Using a quantitative method with multiple regression analysis processed through Eviews 13, the results of the study show that DFL has a positive and significant effect on financial distress. Conversely, CR and ROA show a negative and significant effect on financial distress. Simultaneously, all three variables (CR, DFL, and ROA) are proven to have a significant effect on financial distress. These findings underscore the importance of effective liquidity, profitability, and leverage management to maintain a company's financial health, as well as providing implications for investors in decision making.Keywords: Financial Distress, Liquidity, Leverage, and Profitability