D. PENGARUH PROFITABILITAS DAN LIKUIDITAS TERHADAP EARNING RESPONSE COEFFICIENT YANG DIMODERASI OLEH ACCRUALS ERANING MANAGEMENT: STUDI EMPIRIS PERUSAHAAN DI BURSA EFEK INDONESIA

2021 ◽  
Vol 6 (2) ◽  
pp. 38
Author(s):  
Aminullah Assagaf ◽  
Alvy Mulyaning Tyas
Keyword(s):  
Time Series ◽  
Strategic Management ◽  
Financial Management ◽  
Stock Exchange ◽  
Earning Management ◽  
Purposive Sampling ◽  
Response Coefficient ◽  
Non Linear

Abstract : Penelitian ini bertujuan untuk menjelaskan phenomena in indonesia stock exchange  yang paling aktif sahamnya ditransaksikan. Motivasi penelitian ini adalah untuk menganalisis respon investor dalam mengambil keputusan setelah manajemen mempublikasikan laporan keuangan perusahaan. Penelitian ini memilih 20 perusahaan dengan metode purposive sampling berdasarkan data panel yaitu data time series tahunan dan cross sectioan perusahaan yang terpilih sebagai sampel. Untuk menguji hipotesis penelitian, maka  digunakan model regresi linear dan  non linear, sedangkan vraiebl penelitian terdiri dari dua variabel independen, satu variabel moderator dan dua variabel control. Temuan pada penelitian ini, yaitu variabel profitabilitas berpengaruh negative dan signifikan terhadap earning response coefficient, terutama karena setelah lima hari sejak laporan keuangan dipublikasi, pihak investor atau speculator melepaskan sahamnya terutama terhadap saham yang mengalami kejenuhan pertumbuhan harganya sehingga harga cenderung menurun pada hari ke lima dan seterusnya. Liqudity berpengaruh positif dan signifikan terhadap earning response coefficient, karena perusahaan meningkatkan kemampuannya dalam memenuhi kewajiban keuangan dan semakin dipercaya oleh bank dan pihak ketiga, sehingga direspon positif oleh investor di pasar modal. Keywords : Financial Management, Earning Management, and Strategic Management.

scholarly journals Relationship Between Deferred Tax Category and Stock Prices in Pharmacy

2018 ◽  
Vol 66 (6) ◽  
pp. 1469-1475
Author(s):  
Petr Habanec
Keyword(s):  
Time Series ◽  
Stock Prices ◽  
Stock Exchange ◽  
Negative Relationship ◽  
Accounting Standards ◽  
Earning Management ◽  
International Accounting ◽  
International Accounting Standards ◽  
Deferred Tax ◽  
The Relationship

The paper deals with relationship between stock prices and deferred tax category. Joos, Pratt and Young provided evidence that book‑tax differences are correlated with earning management. In this paper is confirmed negative relationship between stock prices and deferred tax. The relationship is assessed on sample of companies making business in pharmacy (CZNACE‑C‑21). The relationship between deferred tax category and stock prices is assessed on a sample of companies in the time series from 2005 to 2015. Sample consists of companies listed on Frankfurt stock exchange and reporting in accordance with international accounting standards IAS/IFRS. The stock prices dataset is based on Morningstar database. The results are compared with the results of author ’s previous study concerning the deferred tax materiality.

scholarly journals Evaluasi Pengaruh Financial Constraints terhadap Hubungan antara Working Capital Financing dengan Firm Performance

2021 ◽  
Vol 5 (4) ◽  
pp. 408
Author(s):  
Maria Angelica Brigita ◽  
Indra Widjaja
Keyword(s):  
Firm Performance ◽  
Consumer Goods ◽  
Financial Constraints ◽  
Stock Exchange ◽  
Shape Effect ◽  
Working Capital ◽  
Purposive Sampling ◽  
Mining Companies ◽  
Non Linear ◽  
Capital Financing

The purpose of this research is to examine the influence of working capital financing toward firm performance with a moderating effect from financial constraints in consumer goods and mining companies listed in Indonesia Stock Exchange from year 2014 until 2018. The sample was determined by purposive sampling method. The research conducted by taking 40 consumer goods companies and 41 mining companies. This research used Eviews program version 11 and use GMM to process obtained data from the research sample. The result of this research shows that working capital financing has positive and non-linear (inverted u shape) effect on firm performance. This research also shows that financial constraints has positively effect on non-linear relationship between working capital financing and firm performance.  Tujuan dari penelitian ini adalah untuk menguji pengaruh dari working capital financing terhadap firm performance dengan efek moderasi dari financial constraints pada perusahaan consumer goods dan mining yang terdaftar di Bursa Efek Indonesia dari tahun 2014 hingga tahun 2018. Sampel penelitian ini ditentukan dengan menggunakan metode purposive sampling. Penelitian ini dilakukan atas 40 perusahaan consumer goods dan 41 perusahaan mining. Penelitian ini menggunakan aplikasi pengolah data Eviews versi 11 dan menggunakan metode GMM untuk mengolah data yang diperoleh dari sampel penelitian. Hasil dari penelitian ini menunjukkan bahwa working capital financing memiliki pengaruh yang positif dan non-linier (berbentuk huruf U terbalik) terhadap firm performance. Penelitian ini juga menunjukkan bahwa financial constraints memiliki pengaruh yang positif terhadap hubungan non-linier antara working capital financing dan firm performance. 

scholarly journals Determinan atas Stubben Earning Management Model: Perspektif Teori Pensinyalan

1970 ◽  
Vol 4 (01) ◽  
pp. 47-62
Author(s):  
Melly Roosmayani ◽  
Nurmala Ahmar
Keyword(s):  
Cash Flow ◽  
Stock Exchange ◽  
Jel Classification ◽  
Free Cash Flow ◽  
Earning Management ◽  
Management Model ◽  
Model Interaction ◽  
Purposive Sampling ◽  
Revenue Model

ABSTRACT The purpose of this research is to examine the factors that affect earning management in firms that registered in Indonesian Stock Exchange during five years 2010-2014. Determination of the sample in this study carried out purposive sampling. This study involved 14 companies listed on the Indonesian Stock Exchange to take 5 years of research starting from the year 2010-2014. The factors examined are leverage, profitability and free cash flow. This study adopts the research conducted by Stubben (2010) where there are two measurements model is the discretionary revenue model consists of revenue model and conditional revenue model. Tools of analysis used moderate regression analysis. Research results show that leverage had no effect on earning management revenue model but leverage had effect on earning management conditional revenue model. Profitability and free cash flow had no effect on earning management revenue model and conditional revenue model. Interaction between free cash flow and leverage and interaction between free cash flow and profitability had no effect on earning management revenue model and conditional revenue model. The contribution of this research is debt asset ratio and conditional revenue model could give the signal to shareholder that management decrease practice earning management. ABSTRAK Penelitian ini bertujuan untuk menguji faktor faktor yang mempengaruhi praktik manajemen laba pada perusahaan perusahaan yang tercatat di Bursa Efek Indonesia (BEI) selama periode 2010-2014. Penentuan sampel dalam penelitian ini dilakukan secara purposive sampling. Penelitian ini melibatkan 14 perusahaan yang terdaftar pada Bursa Efek Indonesia dengan mengambil 5 tahun penelitian mulai tahun 2010-2014. Faktor faktor yang diuji adalah leverage, profitabilitas dan arus kas bebas. Penelitian ini mengadopsi pada penelitian yang dilakukan oleh Stubben (2010) dimana terdapat dua model pengukuran revenue discretionary model yang terdiri dari revenue model dan conditional revenue model. Alat analisis yang digunakan adalah moderate regresi analisis. Berdasarkan hasil penelitian dapat disimpulkan: leverage tidak berpengaruh terhadap manajemen laba revenue model tetapi leverage berpengaruh terhadap praktik manajemen laba conditional revenue model. Profitabilitas dan arus kas bebas tidak berpengaruh terhadap praktik manajemen laba baik revenue model maupun conditional revenue model. Interaksi antara arus kas bebas dengan leverage dan interaksi antara arus kas bebas dengan profitabilitas tidak berpengaruh terhadap praktik manajemen laba baik revenue mode maupun conditional revenue model. Kontribusi penelitian ini dapat menunjukkan bahwa hubungan debt to asset ratio dengan conditional revenue model memberikan signal kepada para pemilik saham dimana manajemen mengurangi praktik manajemen laba terhadap suatu perusahaan. JEL Classification: M41, C39

scholarly journals Effect of Bid Ask Spread, Profitability, and Free Cash Flow on Earning Management

2020 ◽  
Vol 23 (3) ◽  
pp. 449
Author(s):  
Nurainun Bangun
Keyword(s):  
Earnings Management ◽  
Cash Flow ◽  
Sampling Method ◽  
Stock Exchange ◽  
Free Cash Flow ◽  
Earning Management ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Bid Ask Spread

The purpose of this study was to determine the effect of bid ask spread, profitability, and free cash flow on earnings management. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange in 2016-2018. The sampling method used was purposive sampling with predetermined criteria. Earning management is determined by the accruals method. The results of this study stated that the bid ask spread did not have a significant effect on earnings management, while profitability and free cash flow had a significant effect on earnings management.

scholarly journals Perbandingan Kinerja Saham Syariah di Bursa Efek Indonesia dan Bursa Malaysia

2019 ◽  
Vol 10 (2) ◽  
pp. 82
Author(s):  
Hisbullah Basri ◽  
Veny Mayasari
Keyword(s):  
Time Series ◽  
Data Analysis ◽  
Cross Section ◽  
Stock Exchange ◽  
Secondary Data ◽  
Risk Difference ◽  
T Test ◽  
Stock Performance ◽  
Book Value ◽  
Purposive Sampling

<div class="page" title="Page 1"><div class="layoutArea"><div class="column"><p><span>ABSTRACT</span></p><p><span>This research aims to determine the difference in Sharia stock performance in the Indonesia Stock Exchange and Bursa Malaysia. The population in the study is all sharia stocks listed on the Indonesia Stock Exchange and Bursa Malaysia amounting to 1,280 Sharia shares. The retrieval technique uses purposive sampling where the samples are taken with certain criteria. Meanwhile, the research sample amounted to 60 Sharia shares in which 30 sharia stocks are found on the Indonesia Stock Exchange and 30 Sharia shares in Bursa Malaysia. The research uses four indicators to use the stock performance of Return shares, Price Earning Ratio (PER), Price to Book Value (PBV), and Earning per Share (EPS). The data analysis method used in this study is quantitative analysis. The data used is secondary data, time series, and cross-section. The data analysis technique used is by conducting independent sample T-Test. The results showed that there was no difference in the performance of sharia stocks on the Indonesia Stock Exchange and Bursa Malaysia given price to book Value (PBV) and Price Earning Ratio (PER) with significance values of 0.308 and 0.264 respectively. As for the performance of shares with indicators return and EPS obtained the result that there is a difference in the performance of sharia stocks on the Indonesian stock exchange with significance values of 0.006 and 0.000 respectively. This difference is more due to the risk difference in Indonesia and Malaysia.</span></p><p><span>Key words </span><span>: Stock Performance, Return, EPS, PBV, PER</span><span>ABSTRAK</span></p><p><span>Penelitian ini bertujuan untuk mengetahui perbedaan kinerja saham syariah di Bursa Efek Indonesia dan Bursa Malaysia. Populasi pada penelitian adalah seluruh saham syariah yang terdaftar di Bursa Efek Indonesia dan Bursa Malaysia yang berjumlah 1.280 saham syariah. Teknik pengambilan menggunakan purposive sampling dimana sampel diambil dengan kriteria tertentu. Sedangkan sampel penelitian ini berjumlah 60 saham syariah dimana 30 saham syariah yang terdapat di Bursa Efek Indonesia dan 30 saham syariah yang terdapat di Bursa Malaysia. Penelitian ini menggunakan empat indikator untuk menggukur kinerja saham yaitu Return Saham, Price Earning Ratio (PER), Price to Book Value (PBV), dan Earning per Share (EPS). Metode Analisis data yang digunakan dalam penelitian ini adalah analisis kuantitatif. Data yang digunakan adalah data sekunder, time series dan cross section. Teknik analisis data yang digunakan yaitu dengan melakukan independent sampel t-test. Hasil penelitian menunjukkan bahwa tidak terdapat perbedaan kinerja saham syariah di Bursa Efek Indonesia dan Bursa Malaysia di lihat dari price to book Value (PBV) dan Price Earning Ratio (PER) dengan nilai signifikansi masing-masing sebesar 0,308 dan 0,264. Sedangkan untuk kinerja saham dengan indikator return dan EPS didapat hasil bahwa terdapat perbedaan kinerja saham syariah di Bursa Efek Indonesia dengan nilai signifikansi masing-masing sebesar 0,006 dan 0,000.</span></p><p><span>Kata kunci</span><span>: Kinerja Saham, Return, EPS, PBV, PER</span></p></div></div></div>

scholarly journals Determinan atas Stubben Earning Management Model: Perspektif Teori Pensinyalan

1970 ◽  
Vol 4 (01) ◽  
pp. 47-62
Author(s):  
Melly Roosmayani ◽  
Nurmala Ahmar
Keyword(s):  
Cash Flow ◽  
Stock Exchange ◽  
Jel Classification ◽  
Free Cash Flow ◽  
Earning Management ◽  
Management Model ◽  
Model Interaction ◽  
Purposive Sampling ◽  
Revenue Model

ABSTRACT The purpose of this research is to examine the factors that affect earning management in firms that registered in Indonesian Stock Exchange during five years 2010-2014. Determination of the sample in this study carried out purposive sampling. This study involved 14 companies listed on the Indonesian Stock Exchange to take 5 years of research starting from the year 2010-2014. The factors examined are leverage, profitability and free cash flow. This study adopts the research conducted by Stubben (2010) where there are two measurements model is the discretionary revenue model consists of revenue model and conditional revenue model. Tools of analysis used moderate regression analysis. Research results show that leverage had no effect on earning management revenue model but leverage had effect on earning management conditional revenue model. Profitability and free cash flow had no effect on earning management revenue model and conditional revenue model. Interaction between free cash flow and leverage and interaction between free cash flow and profitability had no effect on earning management revenue model and conditional revenue model. The contribution of this research is debt asset ratio and conditional revenue model could give the signal to shareholder that management decrease practice earning management. ABSTRAK Penelitian ini bertujuan untuk menguji faktor faktor yang mempengaruhi praktik manajemen laba pada perusahaan perusahaan yang tercatat di Bursa Efek Indonesia (BEI) selama periode 2010-2014. Penentuan sampel dalam penelitian ini dilakukan secara purposive sampling. Penelitian ini melibatkan 14 perusahaan yang terdaftar pada Bursa Efek Indonesia dengan mengambil 5 tahun penelitian mulai tahun 2010-2014. Faktor faktor yang diuji adalah leverage, profitabilitas dan arus kas bebas. Penelitian ini mengadopsi pada penelitian yang dilakukan oleh Stubben (2010) dimana terdapat dua model pengukuran revenue discretionary model yang terdiri dari revenue model dan conditional revenue model. Alat analisis yang digunakan adalah moderate regresi analisis. Berdasarkan hasil penelitian dapat disimpulkan: leverage tidak berpengaruh terhadap manajemen laba revenue model tetapi leverage berpengaruh terhadap praktik manajemen laba conditional revenue model. Profitabilitas dan arus kas bebas tidak berpengaruh terhadap praktik manajemen laba baik revenue model maupun conditional revenue model. Interaksi antara arus kas bebas dengan leverage dan interaksi antara arus kas bebas dengan profitabilitas tidak berpengaruh terhadap praktik manajemen laba baik revenue mode maupun conditional revenue model. Kontribusi penelitian ini dapat menunjukkan bahwa hubungan debt to asset ratio dengan conditional revenue model memberikan signal kepada para pemilik saham dimana manajemen mengurangi praktik manajemen laba terhadap suatu perusahaan. JEL Classification: M41, C39

scholarly journals Predicting Extreme Daily Regime Shifts in Financial Time Series Exchange/Johannesburg Stock Exchange—All Share Index

2021 ◽  
Vol 9 (2) ◽  
pp. 18
Author(s):  
Katleho Makatjane ◽  
Ntebogang Moroke
Keyword(s):  
Time Series ◽  
Stock Returns ◽  
Linear Models ◽  
Stock Exchange ◽  
Financial Time Series ◽  
Moving Average ◽  
Autoregressive Integrated Moving Average ◽  
Financial Time ◽  
Johannesburg Stock Exchange ◽  
Non Linear

During the past decades, seasonal autoregressive integrated moving average (SARIMA) had become one of a prevalent linear models in time series and forecasting. Empirical research advocated that forecasting with non-linear models can be an encouraging alternative to traditional linear models. Linear models are often compared to non-linear models with mixed conclusions in terms of superiority in forecasting performance. Therefore, the aim of this study is to build an early warning system (EWS) model for extreme daily losses for financial stock markets. A logistic model tree (LMT) is used in collaboration with a seasonal autoregressive integrated moving average-Markov-Switching exponential generalised autoregressive conditional heteroscedasticity-generalised extreme value distribution (SARIMA-MS-EGARCH-GEVD) estimates. A time series of the study is a five-day financial time series exchange/Johannesburg stock exchange-all share index (FTSE/JSE-ALSI) for the period of 4 January 2010 to 31 July 2020. The study is set into a two-stage framework. Firstly, SARIMA model is fitted to stock returns in order to obtain independently and identically distributed (i.i.d) residuals and fit the MS(k)-EGARCH(p,q)-GEVD to i.i.d residuals; while, in the second stage, we set-up an EWS model. The results of the estimated MS(2)-EGARCH(1,1) -GEVD revealed that the conditional distribution of returns is highly volatile giving the expected duration to approximately 36 months and 4 days in regime one and 58 months and 2 days in regime two. We further found that any degree losses above 25% implies that there will be no further losses. Using the seven statistical loss functions, the estimated SARIMA(2,1,0)×(2,1,0)240−MS(2)−EGARCH(1,1)−GEVD proved to be the most appropriate model for predicting extreme regimes losses as it was ranked at 71%. Finally, the results of EWS model exhibit reasonably an overall performance of 98%, sensitivity of 79.89% and specificity of 98.40% respectively. The model further indicated a success classification rate of 89% and a prediction rate of 95%. This is a promising technique for EWS. The findings also confirmed 63% and 51% of extreme losses for both training sample and validation sample to be correctly classified. The findings of this study are useful for decision makers and financial sector for future use and planning. Furthermore, a base for future researchers for conducting studies on emerging markets, have been contributed. These results are also important to risk managers and and investors.

scholarly journals Pengaruh Likuiditas, Profitabilitas dan Leverage terhadap Prediksi Financial Distress

2019 ◽  
Vol 6 (01) ◽  
Author(s):  
Rina Erayanti
Keyword(s):  
Financial Distress ◽  
Financial Management ◽  
Early Warning System ◽  
Stock Exchange ◽  
Warning System ◽  
Jel Classification ◽  
Business Development ◽  
System Model ◽  
Sustainable Business ◽  
Purposive Sampling

ABSTRACT The importance of financial management as a vital aspect of the company should be considered and managed properly if the company remains to maintain the sustainable business. Development of an early warning system model is needed to anticipate the financial distress, because this model can identify and improve the condition prior to the crisis. This research aims to examine the liquidity (CR, QR), profitability (ROI, ROE), leverage (DER, DAR), the effect of financial distress. The sample used in this research is the company's transportation, infrastructure and utilities sector in Indonesia Stock Exchange (BEI) for the period year 2012-2016. This research uses purposive sampling, which obtained 171 samples of observations from 39 companies. The hypothesis is examined by using regression logistic. The result shows that the ratio of ROI havesignificant effect on the company’s financial distress. While the CR, QR, ROE DER and DAR have no effect on the company’s financial distress. ABSTRAK Pentingnya pengelolaan keuangan sebagai aspek vital perusahaan benar-benar harus diperhatikan dan dikelola dengan baik jika perusahaan tetap untuk dapat menjaga kelangsungan hidup usahanya. Diperlukan pengembangan model sistem peringatan untuk mengantisipasi adanya financial distress, karena model ini dapat digunakan sebagai sarana untuk mengidentifikasikan bahkan untuk memperbaiki kondisi sebelum sampai pada kondisi krisis. Studi ini bertujuan untuk meneliti pengaruh likuiditas (CR, QR), profitabilitas (ROI, ROE), leverage (DER, DAR), terhadap prediksi financial distress pada perusahaan sektor transportasi, infrastruktur dan utilities yang terdaftar di Bursa Efek Indonesia periode tahun 2012-2016. Pengambilan sampel dengan menggunakan purposive sampling dan diperoleh sebanyak 171 sampel observasi dari 39 perusahaan. Pengujian hipotesis dilakukan dengan menggunakan regression logistik. Hasil pengujian hipotesis mununjukkan bahwa variabel ROI berpengaruh signifikan terhadap financial distress perusahaan. Sedangkan variabel CR, QR, ROE, DER dan DAR tidak berpengaruh terhadap financial distress perusahaan. JEL Classification: M40, G18

scholarly journals PENGARUH CORPORATE SOCIAL RESPONBILITY, PERSISTENSI LABA, DAN STRUKTUR MODAL TERHADAP EARNINGS RESPONSE COEFFICIENT

2016 ◽  
Vol 11 (1) ◽  
pp. 1 ◽  
Author(s):  
Abdur Rahman Dalimunthe
Keyword(s):  
Capital Structure ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Earnings Persistence ◽  
Purposive Sampling ◽  
Earnings Response Coefficient ◽  
Response Coefficient ◽  
Earnings Response ◽  
Corporate Social

This study aims to examine the factors that influence the Earnings Response Coefficient on state-owned companies go public listed in Indonesia Stock Exchange. These factors are the corporate social responbility, earnings persistence, and capital structure.The study‟s population is a go-public SOEs company which is listed in Indonesia Stock Exchange within 2008-2011 period. The research sample using purposive sampling. Number of companies studied were 14 (fourteen) as samples and were taken by using purposive sampling method on state-owned companies went public within 2008-2011 period in Indonesia Stock Exchange, bringing the total observations in this research were 56 observations. Methods of data analysis use multiple linear regression analysis. Hypothesis tests using the t test and F test. These results indicate that corporate social responbility, earnings persistence, and capital structure affect the earnings response coefficient simultaneously at the state-owned company publicly traded on the Indonesia Stock Exchange listed period 2008-2011. Only the persistence of earnings are not significantly influence the earnings response coefficient. However, corporate social capital structure responbility and significant negative effect on earnings response coefficient. Keywords: corporate social responsibility, the persistence of earnings, capital structure, earnings response coefficient

scholarly journals Pengaruh Likuiditas, Profitabilitas dan Leverage terhadap Prediksi Financial Distress

2019 ◽  
Vol 6 (01) ◽  
Author(s):  
Rina Erayanti
Keyword(s):  
Early Warning ◽  
Financial Distress ◽  
Financial Management ◽  
Early Warning System ◽  
Stock Exchange ◽  
Warning System ◽  
Business Development ◽  
System Model ◽  
Sustainable Business ◽  
Purposive Sampling

ABSTRACT The importance of financial management as a vital aspect of the company should be considered and managed properly if the company remains to maintain the sustainable business. Development of an early warning system model is needed to anticipate the financial distress, because this model can identify and improve the condition prior to the crisis. This research aims to examine the liquidity (CR, QR), profitability (ROI, ROE), leverage (DER, DAR), the effect of financial distress. The sample used in this research is the company's transportation, infrastructure and utilities sector in Indonesia Stock Exchange (BEI) for the period year 2012-2016. This research uses purposive sampling, which obtained 171 samples of observations from 39 companies. The hypothesis is examined by using regression logistic. The result shows that the ratio of ROI havesignificant effect on the company’s financial distress. While the CR, QR, ROE DER and DAR have no effect on the company’s financial distress. ABSTRAK Pentingnya pengelolaan keuangan sebagai aspek vital perusahaan benar-benar harus diperhatikan dan dikelola dengan baik jika perusahaan tetap untuk dapat menjaga kelangsungan hidup usahanya. Diperlukan pengembangan model sistem peringatan untuk mengantisipasi adanya financial distress, karena model ini dapat digunakan sebagai sarana untuk mengidentifikasikan bahkan untuk memperbaiki kondisi sebelum sampai pada kondisi krisis. Studi ini bertujuan untuk meneliti pengaruh likuiditas (CR, QR), profitabilitas (ROI, ROE), leverage (DER, DAR), terhadap prediksi financial distress pada perusahaan sektor transportasi, infrastruktur dan utilities yang terdaftar di Bursa Efek Indonesia periode tahun 2012-2016. Pengambilan sampel dengan menggunakan purposive sampling dan diperoleh sebanyak 171 sampel observasi dari 39 perusahaan. Pengujian hipotesis dilakukan dengan menggunakan regression logistik. Hasil pengujian hipotesis mununjukkan bahwa variabel ROI berpengaruh signifikan terhadap financial distress perusahaan. Sedangkan variabel CR, QR, ROE, DER dan DAR tidak berpengaruh terhadap financial distress perusahaan.

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