Analisis Pengaruh Kinerja Keuangan dan Good Corporate Governance terhadap Financial Distress (Studi Kasus pada Perusahaan Manufaktur yang Terdaftar di BEI 2014-2017)

Abstract

This research was conducted with the aim of knowing and testing whether there is an influence of financial performance (leverage, liquidity, profitability and sales growth) and the mechanism of good corporate governance (managerial ownership, institutional ownership, board of directors, independent board of commissioners and audit committee) on financial distress on manufacturing companies listed on the IDX. Based on the criteria set out in this study during the 2014-2017 period, 58 selected manufacturing companies with 232 data were sampled in this study. This research model was analyzed using logistic regression. The results of this study indicate that leverage and independent board of commissioners have a positive effect on financial distress. Profitability and managerial ownership have a negative effect on financial distress. Liquidity, sales growth, institutional ownership, board of directors and audit committee have no effect on financial distress.