Pengaruh Rasio Keuangan terhadap Financial Distress Perusahaan Makanan dan Minuman di Indonesia Sebelum dan Saat Covid-19

Abstract

ABSTRACT

The aim of the research was to analyze the effect of liquidity, leverage, profitability, and activity on the financial distress of food and beverage companies before and during Covid-19. The data used is secondary data in the form of audited financial statements for 2017-2021. The sampling technique is purposive sampling. This research uses descriptive research with a quantitative approach. The analytical tools used are multiple linear regression (CR, DER, ROA, TATO, Altman Z Score), normality test and paired sample t-test. The results of this study indicate that liquidity, leverage, and activity have a significant effect on financial distress, while profitability has no effect and is not significant to financial distress, and there are differences in financial ratios on financial distress before and during Covid-19. Companies need to implement operational cost efficiency and debt management strategies.

Keywords: Liquidity, Leverage, Profitability, Activity, Financial Distress

ABSTRAK

Tujuan penelitian adalah menganalisis pengaruh likuiditas, leverage, profitabilitas, dan aktivitas terhadap financial distress perusahaan makanan dan minuman sebelum dan saat Covid-19. Data yang digunakan adalah data sekunder berupa laporan keuangan audited Tahun 2017-2021. Teknik pengambilan sampel adalah purposive sampling. Penelitian ini menggunakan penelitian deskriptif dengan pendekatan kuantitatif. Alat analisis yang digunakan berupa regresi linier berganda (CR, DR, ROA, TATO, Altman Z Score), Uji Normalitas dan paired sample t-test. Hasil penelitian ini menunjukkan bahwa likuiditas, leverage, dan aktivitas berpengaruh signifikan terhadap financial distress, sedangkan  profitabilitas tidak berpengaruh dan tidak signifikan terhadap  financial distress, dan terdapat perbedaan  rasio keuangan terhadap financial distress sebelum dan saat Covid-19. Perusahaan perlu melaksanakan strategi biaya operasional dan manajemen utang.

Kata Kunci: Likuiditas, Leverage, Profitabilitas, Aktivitas, Financial Distress