The objective of this study is to determine the elements that account for the impact of financial ratios on financial difficulty. This will be achieved by treating firm size as a moderating variable that either enhances or diminishes the independent variable in connection to the dependent variable during the Covid-19 pandemic. The survey comprised a total of 263 companies. Observations were carried out consistent with the specified criteria, resulting in a total sample size of 40 companies. This study use regression as the data analysis technique. 1) Finding shows current ratio has adverse effect to financial distress. 2) The debt-to-asset ratio positively affects financial stability. 3) The significance of the current ratio on financial difficulty is reduced with the size of the firm. 4) The debt-to-asset ratio during financial crises is influenced by the size of the firm.
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