Peran Profitabilitas dalam Memoderasi Pengaruh Intellectual Capital, Leverage, dan Sales Growth Terhadap Financial Distress

Authors

  • Nunung Mulyatiningsih Program Studi Akuntansi STIE Bank BPD Jateng
  • Suci Atiningsih Program Studi Akuntansi STIE Bank BPD Jateng

DOI:

https://doi.org/10.36733/juara.v11i1.2824

Keywords:

intellectual capital, leverage, sales growth, financial distress, profitability

Abstract

This study aims to provide empirical evidence regarding the role of profitability in moderating the effect of intellectual capital, leverage and sales growth on financial distress. The population of this research is infrastructure, utility and transportation sector companies listed on the BEI from 2014 to 2018 with a total sample of 155 companies. Sampling in this study using purposive sampling method and using the statistical test tool is PLS-SEM with the WarpPLS 5.0 program.

The results showed that intellectual capital has a negative effect on financial distress. Leverage has no effect on financial distress. Sales growth has a positive effect on financial distress. Profitability can moderate the effect of intellectual capital on financial distress, but profitability was can not moderate the effect of leverage and sales growth on financial distress. Contribution to investors is taken into consideration before making a decision to invest in a company, namely by paying attention to the financial statements and financial ratios in order to find out the good and bad effects of financial distress in the company.

Downloads

Download data is not yet available.

References

Andiyanti, Y. 2018. Pengaruh Likuiditas,Leverage, Dan Arus Kas Terhadap Financial Distress Dengan Profitabilitas Sebagai Variabel Moderasi. Artikel Ilmiah.STIE Perbanas Surabaya 1, 43.

Antikasari, T. W., & djuminah. 2017. Memprediksi Financial Distress Dengan Binory Logit Regression Perusahaan. Jurnal Keuangan Perbankan 21(040), 265–275.

Ardalan, B., & Askarian, H. 2014. the Impact of Intellectual Capital on the Risk of Financial Distress of Listed Companies in Tehran Stock Exchange , Iran. Indian Journal of Fundamental and Applied Life Sciences, 4, 840–853.

Astuti, M., Sarda S., dan Muchran M. 2019. Pengaruh Intellectual Capital Terhadap Profitabilitas Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Ilmu Manajemen Profitability 3(2), Prodi Manajemen FEB Universitas Muhammadiyah Makasar, 103–118.

Bernardin, D. E. Y., & Tifani, T. 2019. Financial Distress Predicted By Cash Flow and Leverage With Capital Intensity As Moderating. Jurnal Apresiasi Ekonomi, 7(1), 18–29.

Christine, D., Wijaya, J., Chandra, K., Pratiwi, M,. Lubis M.S,. dan Nasution, I.A. 2019. Pengaruh Profitabilitas , Leverage , Total Arus Kas dan Ukuran Perusahaan terhadap Financial Distress pada Perusahaan Property dan Real Estate yang Terdaftar di Bursa Efek Indonesia Tahun 2014- 2017. Jurnal Ekonomi & Ekonomi Syariah 2(2), 340–351.

Eminingtyas, R. 2017. Pengaruh Ukuran Perusahaan, Likuiditas, Leverage, Sales Growth Dan Operating Capacity Terhadap Financial Distress Pada Perusahaan Manufaktur(Terdaftar di BEI). Skripsi. STIE Perbanas Surabaya.

Febriyan, & Prasetyo, A. H. 2019. Pengaruh Arus Kas Operasi, Likuiditas, Leverage, Diversifikasi, Dan Ukuran Perusahaan Terhadap Financial Distress ( Studi Empiris Pada Perusahaan Sektor Aneka Industri Yang Terdaftar di BEI 2014-2016 ). Jurnal Akuntansi 8(1), 103-116

Ghozali & Latan, 2017.Partial least Squares (Konsep, Metode dan Aplikasi menggunakan program WarPLS 5.0 ). Semarang : Universitas Diponegoro

Handayani, R. D., Widiasmara, A., dan Amah N. 2019. Pengaruh Operating Capacity Dan Sales Growth Terhadap Financial Distress Dengan Profitabilitas Sebagai Variabel Moderating. Seminar Inovasi Manajemen, Bisnis dan Akuntansi, 137–151.

Indonesia, K. K. B. P. R. 2019. Outlook Perekonomian Indonesia 2019. In Kementerian koordinator bidang perekonomian republik indonesia (Vol. 66).

Irving, S., & Muslih, M. 2018. Pengaruh Kepemilikan Institusional, Intellectual Capital, Dan Leverage Terhadap Financial Distress. Journal of Accounting and Finance 2(2), 27–40.

Irwan, & Adam, K. 2015. Metode Partial Least Square (PLS) Dan Terapannya (Studi Kasus: Analisis Kepuasan Pelanggan terhadap Layanan PDAM Unit Camming Kab. Bone). Teknosains, 9(1), 53–68.

Mahardika, E. putra, & Riyadi, S. (n.d.). Pengaruh Intellectual Capital Dan Good Corporategovernance Terhadap Profitabilitas Bank BUMN. Perbanas Review, 3 (1), 64-75.

Mustika, R., Ananto R.P., Surya F., Felino F. Y., dan Sari T. I. 2018. Pengaruh Modal Intelektual Terhadap Financial Distress (Studi Pada Perusahaan Pertambangan Dan Manufaktur). Jurnal Ekonomi & Bisnis Dharma Andalas, 20(1), 120–130.

Nurhayati N., Nurcholisah K., dan Aprian T .2019. Pengaruh Sales Growth dan Keahlian Keuangan Komite Audit terhadap Financial Distress. Kajian Akuntansi 20(1), 80–86.

Perdana, N. S., & Dillak, V. J. 2019. Pengaruh Rasio Likuiditas, Leverage, Dan Sales Growth Terhadap Financial Distress ( Studi Kasus Pada Perusahaan Otomotif Dan Komponen Yang Terdaftar di Bursa Efek Indonesia Periode 2013-2016).e-Proceeding of Management 6(1), 668–674.

Rahmawati, T. 2016. Pengaruh Kapasitas Operasi, Pertumbuhan Penjualan, Komisaris Independen, Dan Kepemilikan Publik Terhadap Financial Distress. Jurnal Ilmu Manajemen dan Akuntansi Terapan (JIMAT), 7(2), 132-145.

Ramadhani, Annisa Livia, & Khairunnisa., S. M. . 2019. Pengaruh Operating Capacity, Sales Growth Dan Arus Kas Operasi Terhadap Financial Distress. JRKA, 5 (1), 75-82

Rismawanti, R., Sukarmanto E., dan Nurhayati. 2017. Pengaruh Likuiditas, Sales Growth dan Leverage dalam Memprediksi Kondisi Financial Distress. Prosiding Akuntansi, 1–7.

Sari, N. L. K. M., & Putri, I. G. . M. A. D. 2016. Kemampuan Profitabilitas Memoderasi Pengaruh Likuiditas Dan Leverage Terhadap Financial Distress. E-Jurnal Ekonomi dan Bisnis Universitas Udayana, 5(10) : 3419-3448.

Sugiyono, 2017. Metode Penelitian Kuantitatid Kualitatif dan R&D. Bandung : Alfabeta

Ufo, A. 2015. Impact of Financial Distress on the Leverage of Selected Manufacturing Firms of Ethiopia. Industrial Engineering Letters, 5(10), 8–13.

Vinh Xuan, V. 2015. Using Accounting Ratios in Predicting Financial Distress: An Empirical Investigation in the Vietnam Stock Market. Journal of Economics and Development, 17(1), 41-49

Downloads

Published

2021-03-30