Pengaruh Likuiditas dan Leverage Terhadap Financial Distress dengan Profitabilitas sebagai Variabel Intervening pada Perusahaan Pertambangan di Bursa Efek Indonesia Periode 2017-2023
DOI:
https://doi.org/10.56910/gemilang.v5i2.1958Keywords:
Corporate Financial Distress, Leverage, Liquidity, Profitability as a Mediating VariableAbstract
Financial Distress can be caused by a problematic economy in a company and cause economic instability in a company that can even lead to bankruptcy. This study aims to (1) determine the effect of liquidity, leverage, and profitability on financial distress (2) determine how profitability mediates the relationship between liquidity and leverage on financial distress. Research on all mining sector companies listed on the IDX for the 2017-2023 period. A population of 63 companies with a sample of 30 companies. The method used is purposive sampling. And the data analysis used is path analysis with SmartPLS 4.0 software. Based on the final results of this study, liquidity has a positive effect on financial distress, leverage does not affect financial distress, profitability has a positive effect on financial distress, liquidity does not affect profitability, leverage has a negative effect on profitability, then profitability is unable to mediate the effect of liquidity on financial distress, and profitability is able to mediate the effect of leverage on financial distress. The importance of financial distress analysis is to help management make decisions to improve the company's financial situation faster before it gets worse, and so that external parties can invest in the company.
References
Amaniyah, E. (2023). Buku referensi teori dan contoh financial distress. CV. Eureka Media Aksara.
Ayu, S. A., Handayani, S. R., & Topowijono. (2017). Pengaruh likuiditas, leverage, profitabilitas, dan ukuran perusahaan terhadap financial distress (Studi pada perusahaan manufaktur sektor industri dasar dan kimia yang terdaftar di Bursa Efek Indonesia tahun 2012–2015). Jurnal Administrasi Bisnis (JAB), 43, 138–147. https://www.neliti.com/publications/87722/
Badriyah Islamiyatun, S., Hermuningsih, S., & Cahya, A. D. (2021). Pengaruh profitabilitas, likuiditas dan solvabilitas terhadap kondisi financial distress. Competitive: Jurnal Akuntansi dan Keuangan, 5(2).
Barney, J. B., & Hesterly, W. S. (2005). Strategic management and competitive advantage. Pearson.
Damodaran, A. (1997). Corporate finance theory and practice. John Wiley & Sons.
Frank, M. Z., & others. (2007). Trade-off and pecking order theories of debt. https://ssrn.com/abstract=670543
Ghazali, I. (2020). 25 grand theory. Yoga Pratama.
Ghozali, I., & Latan, H. (2015). Partial least squares: Konsep, teknik dan aplikasi menggunakan program SmartPLS 3.0 (2nd ed.). Badan Penerbit Universitas Diponegoro.
Munawir. (2014). Analisa laporan keuangan (4th ed.). Liberty.
Piatt, H. D., & Piatt, M. B. (2002). Predicting corporate financial distress: Reflections on choice-based sample bias. Journal of Economics and Finance, 26(2), 184–199. https://doi.org/10.1007/bf02755985
Purwaningsih, E., & Safitri, I. (2022). Pengaruh profitabilitas, likuiditas, leverage, rasio arus kas dan ukuran perusahaan terhadap financial distress. JAE (Jurnal Akuntansi dan Ekonomi), 7(2), 147–156.
Silanno, G. L., & Loupatty, L. G. (2021). Pengaruh current ratio, debt to equity ratio dan return on asset terhadap financial distress pada perusahaan-perusahaan di sektor industri barang konsumsi. Jurnal Ekonomi, Sosial dan Humaniora, 2(07), 85–109.
Siswanto, E. (2021). Buku ajar manajemen keuangan dasar.
Togatorop, Y. P. (2022). Pengaruh financial distress, leverage dan kepemilikan institusional terhadap konservatisme akuntansi pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2019–2020 [Doctoral dissertation, Universitas Negeri Medan].
Tyas, F. R. A., & Sari, S. P. (2021). The effect of inflation, currency exchange rates, BI rate, money supply (M2) on financial distress in banking companies listed on the Indonesia Stock Exchange. Duconomics Sci-meet, 1, 252–262.
Widagdo, S., Rachmaningsih, E. K., & Handayani, I. Y. (2019). Resource based view (I. Cakti, Ed.). Mandala Press.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 GEMILANG: Jurnal Manajemen dan Akuntansi
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
