The effect of profitability, liquidity, leverage, and activity on financial distress at PT Waskita Karya (Persero) Tbk
DOI:
https://doi.org/10.47065/imj.v4i2.314Keywords:
profitability; liquidity; leverage; activity; financial distressAbstract
The aim of this study is to find out how profitability, liquidity, leverage, and activity have a partial and simultaneous effect on financial distress. To collect samples, the researchers used purposive sampling. This research uses secondary data from the triwulan financial report of PT Waskita Karya (Persero) Tbk for the period 2013-2023. The study uses a descriptive and verification approach that includes descriptive tests, classical assumption tests, double linear regression analysis, determination coefficient analysis, and hypothesis testing. The results of the determination factor tests show that profitability, liquidity, leverage, and operational influences 90.20% of financial distress, and 9.80% are influenced by other factors not considered in the study. It can be concluded from the hypothesis test that partially Profitability, Liquidity, and Activity have a positive and significant influence on Financial Distress, while Leverage has a negative and significant effect on Financial distress while simultaneously Profitability, liquidity, Leverage, and Aktivity have an influence upon Financial Distress. Researchers recommend using different research objects and larger samples, not just that for further research it is recommended to use measuring tools that project different financial distress such as using the Springate, Zmijewski, or Grover methods
References
Amanda, Y., & Tasman, A. (2019). Pengaruh Likuiditas, Leverage, Sales Growth dan Ukuran Perusahaan Terhadap Financial Distress Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2015-2017. Jurnal Ecogen, 2(3), 453–462. https://doi.org/http://dx.doi.org/10.24036/jmpe.v2i3.7417
Antoniawati, A. (2022). Analisis Pengaruh Profitabilitas, Likuiditas, Dan Leverage Terhadap Financial Distress Pada Perusahaan Transportasi Yang Terdaftar Di Bei Tahun 2018-2020. Jurnal Ilmu Manajemen, 10(1), 28–38. https://doi.org/https://doi.org/10.26740/jim.v10n1.p28-38
Azizah, R. N., & Yunita, I. (2022). Pengaruh Rasio Likuiditas, Leverage, Aktivitas Dan Profitabilitas Terhadap Kondisi Financial Distress Menggunakan Model Altman Z-Score. Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi), 6(1), 756–773. https://doi.org/https://doi.org/10.31955/mea.v6i1.1904
Curry, K., & Banjarnahor, E. (2018). Financial Distress Pada Perusahaan Sektor Properti Go Public Di Indonesia. Seminar Nasional Pakar, 207–221. https://doi.org/https://doi.org/10.25105/pakar.v0i0.2722
Dahruji, D., & Muslich, A. A. (2022). Pengaruh Profitabilitas terhadap Financial Distress pada Bank Umum Syariah Periode 2018 – 2020. Jurnal Ekonomi Syariah Teori Dan Terapan, 9(3), 388–400. https://doi.org/10.20473/vol9iss20223pp388-400
Dance, M., & Made, S. I. (2019). Financial Ratio Analysis In Predicting Financial Conditions Distress In Indonesia Stock Exchange. Russian Journal of Agricultural and Socio-Economic Sciences, 86(2), 155–165. https://doi.org/10.18551/rjoas.2019-02.18
Fahmi, I. (2018). Analisis Kinerja Keuangan: Panduan bagi Akademisi, Manajer, dan Investor dan Menganalisis Bisnis dari Aspek Keuangan. Alfabeta.
Faldiansyah, A. K., Arrokhman, D. B. K., & Shobri, N. (2020). Analisis Pengaruh Leverage, Ukuran Perusahaan, Dan Arus Kas Terhadap Financial Distress. Jurnal Bisnis Net, 3(2), 90–102. https://doi.org/https://doi.org/10.46576/bn.v3i2.999
Ghozali, I. (2018). Aplikasi Analisis Multivariate Dengan Pogram IBM SPSS. Badan Penerbit Universitas Diponegoro.
Hery. (2018). Analisis Laporan Keuangan?: Integrated and Comprehensive Edition. PT Gramedia.
Iskandar, D., & Prihanto, H. (2019). Analysis of Financial Performance in Predicting Financial Distress in Mining Companies. Saudi Journal of Economics and Finance, 03(12), 601–609. https://doi.org/10.36348/sjef.2019.v03i12.004
Jannah, A. M., Dhiba, Z. F., & Safrida, E. (2021). Pengaruh Struktur Kepemilikan, Likuiditas Dan Leverage Terhadap Financial Distress Pada Perusahaan Manufaktur Di Bei. JAKP: Akuntansi, Keuangan Dan Perpajakan, 4(1), 14–23. https://doi.org/https://doi.org/10.51510/jakp.v4i1.225
Kasmir. (2019). Analisis Laporan Keuangan. PT Raja Grafindo Persada.
Laporan Keuangan Triwulan PT Waskita Karya (Persero) Tbk. (n.d.). Retrieved December 13, 2023, from https://investor.waskita.co.id./financials.html
Lumbantobing, R. (2020). The Effect of Financial Ratios on the Possibility of Financial Distress in Selected Manufacturing Companies Which Listed in Indonesia Stock Exchange. https://doi.org/10.2991/aebmr.k.200331.014
Maulana, F., Yudhia Wijaya, S., & Sumilir, S. (2021). Pengaruh Aktivitas Profitabilitas dan Ukuran Perusahaan Terhadap Financial Distress. Jurnal Syntax Transformation, 2(7), 958–961. https://doi.org/10.46799/jst.v2i7.326
Pratiwi, E. Y., & Sudiyatno, B. (2022). Pengaruh likuiditas, leverage, dan profitabilitas terhadap financial distress. Jurnal Ilmiah Akuntansi Dan Keuangan, 5(3), 1324–1332. https://doi.org/https://doi.org/10.32670/fairvalue.v5i3.2459
Septiani, T. A., Siswantini, T., & Murtatik, S. (2021). Pengaruh Likuiditas, Leverage Dan Profitabilitas Terhadap Financial Distress Pada Sektor Industri Barang Konsumsi Yang Terdaftar Di Bei The Effect Of Liquidity, Leverage, And Profitability On Financial Distress In The Consumption Industry Sector Listed On The IDX. Jurnal Apresiasi Ekonomi, 9(1), 100–111. https://doi.org/https://doi.org/10.31846/jae.v9i1.335
Sudaryo, Y., Purnamasari, D., Sofiati, N. A., & Hadiana, A. (2019). Pengaruh Likuiditas, Profitabilitas, Leverage, Ukuran Perusahaan Dan Tingkat Suku Bunga Terhadap Kondisi Financial Distress Pada 12 Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (Periode 2012-2018). Jurnal Ekonam, 1(2), 87–100. https://doi.org/https://doi.org/10.37577/ekonam.v1i2.214
Sugiyono. (2019). Metodelogi Penelitian Kuantitatif dan Kualitatif Dan R&D. Alfabeta.
Susanti, W., & Takarini, N. (2022). Pengaruh Likuiditas, Profitabilitas, Leverage, dan Aktivitas dalam Memprediksi Financial Distress pada Perusahaan Subsektor Retail Trade yang Terdaftar di BEI. Ekonomis: Journal of Economics and Business, 6(2), 488–497. https://doi.org/10.33087/ekonomis.v6i2.591
Susilowati, Y., Ekonomika, F., & Bisnis, D. (2019). The Effect Of Liquidity, Leverage, Profitability, Operating Capacity, And Managerial Agency Cost On Financial Distress Of Manufacturing Companies Listed In Indonesian Stock Exchange. Advances in Economics, Business and Management Research, 100, 651–656. https://doi.org/10.2991/icoi-19.2019.114
Sutrisno, A. P., & Zuhri, M. (2018). Analisis Komparasi Prediktor Potensi Kebangkrutan Pada Perusahaan Reasuransi Di Indonesia Comparative Analysis Potential Of Bankruptcy Predictor On Indonesian Reinsurance Company. Jurnal Manajemen Dan Perbankan (JUMPA), 5(3), 1–19. https://doi.org/https://doi.org/10.55963/jumpa.v5i3.263
Yuriani, Merry, Jennie, Natashia, Ikhsan, M., & Rahmi, N. U. (2020). Pengaruh Struktur Kepemilikan, Likuiditas, Leverage, Dan Aktivitas (TATO) Terhadap Financial Distress Perusahaan Industri Barang Konsumsi Yang Terdapat Pada Bursa Efek Indonesia. Journal of Economic, Business and Accounting, 4(1), 208–218. https://doi.org/https://doi.org/10.31539/costing.v4i1.1325
Downloads
Published: 2024-01-30
How to Cite
Issue
Section
License
Copyright (c) 2024 Arini Ayatika, Andre Suryaningprang, Erna Herlinawati, Yoyo Sudaryo, Dedi Supiyadi

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Authors publishing manuscripts in Insight Management Journal agree to the following terms:
[1] Copyright to manuscripts in this Journal is held by the author, and grants the journal first publication rights with the work simultaneously licensed under the Attribution-NonCommercial-ShareAlike 4.0 International License which allows others to share the work with acknowledgement of authorship of the work and its initial publication in this journal;
[2] Authors may make separate, additional contractual arrangements for non-exclusive distribution of the journal published version of the work (e.g., posting it to an institutional repository or publishing it in a book), with acknowledgment of its initial publication in this journal;
[3] Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on websites) before and during the submission process, as it can result in productive exchanges, as well as earlier and greater citations of published work.