PENGARUH PROFIT MARGIN RATIO, FINANCIAL LEVERAGE RATIO, LIQUIDITY RATIO, DAN GROWTH TERHADAP KONDISI FINANCIAL DISTRESS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2008-2011

PENGARUH PROFIT MARGIN RATIO, FINANCIAL LEVERAGE RATIO, LIQUIDITY RATIO, DAN GROWTH TERHADAP KONDISI FINANCIAL DISTRESS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2008-2011

This research was designed to examine the effect of the variable profit margin ratio, financial leverage ratio,liquidity ratio, and growth both simultaneously and partially toward financial distress in companies listed on the Indonesia Stock Exchange in 2009-2011. Financial distress is a condition in which financial companies are on the decline, but not to the level of bankruptcy.Data were collected from the financial statements of the public companies that listed at Indonesia Stock Exchange. Research were conducted in 4 years (2008-2011). By using purposive sampling and unbalanced panel data, there are 40 firm fulfilling the population criteria. The binary logistic regression analysis model is used to test the hypothesis.The results of this research show that (1) the profit margin ratio, financial leverage ratio, liquidity ratio, and growth simultaneously have influence toward financial distress (2) profit margin ratio has negative influence toward financialdistress (3) financial leverage ratio has positive influence toward financial distress (4) liquidity ratio has negative influence toward financial distress (5) growth has negative influence toward financial distress. Although the relationship is in line with the theory, the variables in this research no significant effect. This is because research data indicates a dummy variables in the research was 67,5% is 0 (healthy companies) and 37,5% is 1 (experiencing financial distress).Keywords: financial distress, profit margin ratio, financial leverage ratio, liquidity ratio, growth

Rahma Yanti

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