财务困境的决定因素:印尼证券交易所制造业公司的证据 2018 - 2022

Ida Ayu Fatmayuni, Sri Dwi Ari Ambarwati, Hendro Widjanarko
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引用次数: 0

摘要

本研究旨在考察制造企业的六项财务比率。这六项财务比率是:盈利能力(ROA 和 ROE)、流动性比率(CR 和 QR)、偿付能力比率(DAR 和 DER)、活动比率(TATO)、销售增长(SG)和市场价值(EPS 和 MBV)。变量 Y 采用二进制。为了确定二进制变量,研究人员使用了一个代理变量,即如果 1) 公司连续两年出现负资产,2) 公司连续两年出现负净收入,则公司处于财务困境(Luu Thu,2023 年)。样本选择采用目的抽样法,以获得 147 家公司的样本。本研究采用的分析方法是逻辑分析法。本研究使用的软件是 STATA17。所研究的 33% 的制造企业是经历过财务困境的企业。本研究结果得出以下结论1) ROA_X1、ROE_X2、QR_X4 和 TATO_X7 变量对财务困境有显著的负面影响。2) DAR_X5 和 MBV_X10 变量对财务困境有显著的正向影响。3) CR_X3、DER_X6、SG_X8 和 EPS_X9 与财务困境无明显关系。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Determinant Financial Distress: Evidence Manufacture Company in Indonesia Stock Exchange 2018 – 2022
This study aims to examines six financial ratios on the manufacture companies. The six financial ratios are profitability (ROA and ROE), liquidity ratio (CR and QR), solvency ratio (DAR and DER), activity ratio (TATO), sales growth (SG) and market value (EPS and MBV). Variable Y are used binary. To determine the binary variable, the researcher uses a proxy where the company is experiencing financial distress if 1) the company has negative equity for two consecutive years, 2) the company experienced negative net income for two consecutive years (Luu Thu, 2023). The sample selection is based on the purposive sampling method, in order to obtain a sample of 147 companies. The analytical method used in this research is logistic analysis. The software in this study uses STATA17. The 33% of manufacturing companies studied were companies that experienced financial distress. This result of this study concludes that: 1) ROA_X1, ROE_X2, QR_X4, and TATO_X7 variables have a significant negative effect on financial distress. 2) The variables DAR_X5, and MBV_X10 have a significant positive effect on financial distress. 3) CR_X3, DER_X6, SG_X8 and EPS_X9 have no significant relationship with financial distress.
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