PENGARUH STUKTUR MODAL, ARUS KAS, GOOD CORPORATE GOVERNANCE DAN UKURAN PERUSAHAAN TERHADAP FINANCIAL DISTRESS
Keywords:
Financial distress, capital structure, cash flow, managerial ownership, institutional ownership, firm size.Abstract
Financial distress is a condition where the company's financial condition declines. Financial distress can be an early warning for a company to go bankrupt. This study aims to analyze the effect of capital structure, cash flow, managerial ownership, institutional ownership and company size on the possibility of financial distress in manufacturing companies listed on the Indonesia Stock Exchange for the 2018-2020 period. The research population is manufacturing companies listed on the Indonesia Stock Exchange in 2018-2020. The sample obtained in this study were 52 manufacturing companies which were determined based on the purposive sampling method. The analytical technique used in this research is logistic regression analysis. The results of this study indicate that capital structure has a positive effect on financial distress, while cash flow, managerial ownership, institutional ownership and firm size have no effect on the possibility of financial distress.
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