Pengaruh Kinerja Keuangan, Suku Bunga, Inflasi dan Nilai Tukar terhadap Financial Disstress pada Perusahaan Manufaktur Sub Sektor Food and Beverage yang Terdaftar di BEI Tahun 2019-2023

Berliana Febriyanti

Abstract


This study aims to analyze the influence of internal and external factors on financial distress in manufacturing companies in the Food and Beverage sub-sector listed on the Indonesia Stock Exchange (IDX) during the period 2019–2023. The independent variables in this study consist of profitability, liquidity, leverage, activity ratio, interest rates, inflation, and exchange rates, while the dependent variable is financial distress, measured using the Altman Z-Score model. The sampling technique employed in this study is purposive sampling. A total of 17 Food and Beverage companies listed on the IDX during the 2019–2023 period were selected, resulting in 85 data observations. Hypothesis testing and data analysis were carried out using binary logistic regression analysis with SPSS version 25 software.

The results of this study indicate that, partially, liquidity and activity ratio have a significant effect on financial distress. Meanwhile, profitability, leverage, interest rates, inflation, and exchange rates do not have a significant effect on financial distress. Simultaneously, however, all seven variables have an influence on financial distress.

 


Keywords


Financial Distress; Financial Performance; Interest Rates; Inflation; Exchange Rates; Altman Z-Score.

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References


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DOI: https://doi.org/10.15408/jmeb.v1i1.48234

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