THE INFLUENCE OF CORPORATE GOVERNANCE, FINANCIAL RATIO, AND CASH FLOW ON FINANCIAL DISTRESS
Empirical Study on BEI Listed Transportation Companies 2020-2022
Keywords:
corporate governance, financial ratio, cash flow, financial distressAbstract
Background:Decline Economic activity occurred in the transportation sector due to the Covid-19 pandemic. Transportation companies experienced a sharp decline in profits, leaving the company in a state of disrepair financial distress (Financial distress). The aim of this research is to determine the influence of corporate governance, financial ratio, and cash flow on conditions of financial distress that happened to transportation companies registered on the IDX 2020-2022. Method:This type of research is quantitative using secondary data. The total population is 36 transportation companies registered on the IDX. The sampling technique used purposive sampling and 10 companies were obtained from financial distress. The research instrument uses the SPSS program to process company financial report data. The data analysis method used was descriptive statistical analysis and multiple linear regression. Results:The results obtained by the significance value for the variables board of directors (0.519), board of commissioners (0.144), ROA (0.743), and operating cash flow (0.611) are greater than the probability value of 0.05 so that these variables have no influence on financial distress. Meanwhile, the coefficient value of the variable current ratio value is -22.74 and a significance value of 0.011 (<0.05) is obtained, which means it is variable current ratio negative and has a significant effect on financial distress. Conclusion:Variables that influence financial distress is current ratio.
References
Ade Elza Surachman. (2021). Analisis Financial Distress pada Perusahaan Sub Sektor Transportasi di Bursa Efek Indonesia. Jurnal Buana Akuntansi, 6(2), 112–120. https://doi.org/10.36805/akuntansi.v6i2.1788
Aji, P. S., & Anwar, S. (2022). Pengaruh Leverage, Profitabilitas, Likuiditas, Sales Growth Dan Firm Size Terhadap Financial Distress Pada Perusahaan Pulp & Kertas Dan Plastik & Kemasan Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Bina Bangsa Ekonomika, 15(1), 43–51. https://doi.org/10.46306/jbbe.v15i1.106
Altman, E. I., Iwanicz-Drozdowska, M., Laitinen, E. K., & Suvas, A. (2018). Distressed Firm and Bankruptcy Prediction in an International Context: A Review and Empirical Analysis of Altman’s Z-Score Model. SSRN Electronic Journal, 2. https://doi.org/10.2139/ssrn.2536340
Assaji, J. P., & Machmuddah, Z. (2019). Rasio Keuangan Dan Prediksi Financial Distress. Jurnal Penelitan Ekonomi Dan Bisnis, 2(2), 58–67. https://doi.org/10.33633/jpeb.v2i2.2042
Cinantya, I. G. A. A. P., & Merkusiwati, N. K. L. A. (2021). Pengaruh Corporate Governance, Financial Indicators, Dan Ukuran Perusahaan Terhadap Financial Distress. COMPETITIVE Jurnal Akuntansi Dan Keuangan, 5(2), 62. https://doi.org/10.31000/competitive.v5i2.4196
Dewi, Endiana, I. D. M., & Arizona, I. P. E. (2019). Pengaruh Rasio Likuiditas, Rasio Leverage dan Rasio Profitabilitas Terhadap Financial Distress Pada Perusahaan Manufaktur. Journal of Chemical Information and Modeling, 53(November), 1689–1699.
Ernawati, Erlina Sasanti, E., & Hudaya, R. (2022). Pengaruh Corporate Governance Terhadap Financial Distress Studi Kasus Pada Perusahaan Industri Tekstil, Infrastruktur Dan Perbankan Di Masa Pandemi Covid-19. Jurnal Riset Mahasiswa Akuntansi, 2(3), 556–571. https://doi.org/10.29303/risma.v2i3.263
Harahap, S. S. (2018). Analisa Kritis atas Laporan Keuangan. PT RajaGrafindo Persada.
Hariyanto, M. (2018). Pengaruh Laba Dan Arus Kas Terhadap Kondisi Financial Distress. JAZ:Jurnal Akuntansi Unihaz, 4(1), 17. https://doi.org/10.32663/jaz.v4i1.2089
Indrawan, Y. A., & Sudarsi, S. (2023). Pengaruh Profitabilitas, Likuiditas, dan Struktur Modal Terhadap Financial Distress pada Perusahaan Manufaktur yang Terdaftar di BEI 2019-2021. Kompak :Jurnal Ilmiah Komputerisasi Akuntansi, 16(1), 61–69. https://doi.org/10.51903/kompak.v16i1.1043
Kasmir. (2017). Analisis Laporan Keuangan. PT RajaGrafindo Persada.
Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2018). Akuntansi Keuangan Menengah (Intermediate Accounting) (Edisi IFRS) (Volume 2) (12th ed.). Erlangga.
Lestari, T., & Wahyudin, A. (2021). Pengaruh Mekanisme Corporate Governance terhadap Financial Distress dengan Profitabilitas sebagai Variabel Moderating. Business and Economic Analysis Journal, 1(1), 50–62. http://beaj.unnes.ac.id
Marheni, N. P. O., Trisnadewi, A. A. A. E., & Kartana, I. W. (2022). Analisis pengaruh cash flow untuk memprediksi kondisi financial distress pada perusahaan manufaktur yang terdaftar di bursa efek Indonesia. Jurnal Riset Akuntansi Warmadewa, 3(1), 2022–2023. https://doi.org/10.22225/jraw.3.1.4710.1-6
Miswaty, M., & Novitasari, D. (2023). Pengaruh Operating Capacity, Sales Growth, dan Arus Kas Operasi Terhadap Financial Distress. Jurnal Aplikasi Bisnis Dan Manajemen, 9(2), 583–594. https://doi.org/10.17358/jabm.9.2.583
Muafiroh, C. P., & Hidajat, T. (2023). Pengaruh Good Corporate Governance Dan Financial Ratios Terhadap Financial Distress Perusahaan Perbankan. Ecobisma (Jurnal Ekonomi, Bisnis Dan Manajemen), 10(1), 136–155. https://doi.org/10.36987/ecobi.v10i1.4012
Muntahanah, S., Huda, N. N., & Wahyuningsih, E. S. (2021). Profitabilitas, Leverage, dan Likuiditas Terhadap Financial Distress pada Perusahaan Consumer Goods yang Terdaftar di Bursa Efek Indonesia Periode 2015-2019. J-MAS (Jurnal Manajemen Dan Sains), 6(2), 311. https://doi.org/10.33087/jmas.v6i2.277
Prasetya, F. (2023). Analisis Pengaruh Good Corporate Governance Terhadap Financial Distress Dimoderasi Kinerja Keuangan. Jurnal Akuntansi, 15(1), 153–176. https://doi.org/10.28932/jam.v15i1.6226
Putri, D. S., & NR, E. (2020). Pengaruh Rasio Keuangan, Ukuran Perusahaan Dan Biaya Agensi Terhadap Financial Distress. Jurnal Eksplorasi Akuntansi, 2(1), 2083–2098. https://doi.org/10.24036/jea.v2i1.199
Rahmawati, I. A., Rikumahu, B., & Dillak, V. J. (2017). Pengaruh dewan direksi, dewan komisaris, komite audit dan Corporate social responsibility Terhadap kinerja keuangan perusahaan. Jurnal Akuntansi Dan Ekonomi, 2(2), 54–70.
Santoso, S. (2019). Mahir Statistik Parametrik, Konsep Dasar Dan Aplikasi Dengan SPSS. PT Elex Media Komputindo.
Downloads
Published
Issue
Section
License
Copyright (c) 2024 Jurnal Ekonomi, Manajemen dan Akuntansi (JEMA) Universitas Ngudi Waluyo
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
This license lets others distribute, remix, adapt, and build upon your work, even commercially, as long as they credit you for the original creation. This is the most accommodating of licenses offered. Recommended for maximum dissemination and use of licensed materials.
