ANALISIS FAKTOR INTERNAL TERHADAP FINANCIAL DISTRESS SEKTOR PERDAGANGAN, JASA, DAN INVESTASI YANG GO PUBLIC PADA PERIODE 2013-2017

Abstract

This purpose of this research to analyze the influence of the financial ratio, firm size, and sales growth, on the financial distress companies in the Indonesian trade, service, and investment sector period 2013-2017. The dependent variable in this study use financial ratio (liquidity, profitability, leverage), firm size (Ln total assets), growth (sales growth) to predict the company’s financial distress. The sample of this research is 23 Indonesian trade, service, and investment sector. The companies selected using purposive sampling on the period 2013-2017. This study uses logistic regression method. The results show that liquidity (current ratio), leverage (debt to equity ratio), and firm size (Ln total assets) have a significant positive effect on financial distress. Profitability (return on assets) has negative effect on financial distress, and sales growth does not affect on financial distress. Therefore, the trade, service, and investment sector companies are expected to pay attention the value of liquidity, leverage, firm size, and profitability so that companies can avoid financial distress. The Adjusted R square value are 0.289 which means that the movement of company’s financial distress 28,9% by the variables on this study and 71,1% is described by other variables outside model this research.
Keywords: financial distress; financial ratio; firm size; sales growth.