Analisis Rasio Likuiditas, Profitabilitas, dan Solvabilitas Untuk Memprediksi Kondisi Financial Distress Pada Perusahaan Manufaktur di BEI

Abstract

The condition of the world economy influences developments in the business world, especially the economy in Indonesia which is still uncertain, this results in a high risk for a company to experience financial difficulties such conditions will affect the activities, performance, and financial of the company, both small and large companies so many companies bankrupt.The purpose of this study was to determine the effect liquidity ratio with current ratio size, profitability with return on assets and solvability measure with debt ratio to predict financial distress condition of manufacturing company listed on BEI year 2014 - 2016.This study tested hypothesis that there is influence of ratio liquidity, profitability and solvency of financial distress. The sampling technique of this research uses purposive sampling with certain criteria. The selected sample is 95 manufacturing companies consisting of 22 companies experiencing financial distress and 73 non-financial distress companies with a population of 148 manufacturing companies. The research method used is logistic regression. The results showed that the ratio of profitability affects the financial distress, while the ratio of liquidity and solvency ratio has no effect on financial distress. Coefficient of determination obtained by 0.870 which showed 87% financial distress condition can be explained by the ratio of liquidity, profitability and solvency while the remaining 13% financial distress condition is influenced by other variables not examined in this study. Limitations in this study were to examine liquidity ratio with current ratio size, profitability ratio with return on assets size and solvency ratio with debt ratio size. While other variables that can predict the condition of financial distress can be examined by further researchers.