Pengaruh tata kelola dan kinerja perusahaan terhadap financial distress pada perusahaan consumer goods industry

Hayyu Rachma Annisa, Hidayati Nur Rochmah, Wulandari Fitri Ekasari

Abstract


Abstract
This study aims to determine the effect of corporate governance and performance on financial distress. This quantitative study collected data from 10 companies listed in the Indonesia Stock Exchange (IDX) from 2015 to 2019. Using multiple linear regression to analyse the data, the result of this study shows that managerial ownership, profitability, and liquidity have a negative effect on financial distress, but the institutional ownership, independent commissioner, director’s size, and leverage have no effect on financial distress. This study has several limitations, including the inaccessibility of financial statements for a number of companies, incomplete availability of the variables for some companies, and the inability to generalize the results of this to other industrial companies. This study is expected to contribute to the development of theory and knowledge on the impact of corporate governance and company performance on the estimation of the financial distress of companies, especially those in the consumer goods industry.

Abstrak
Penelitian ini bertujuan untuk mengetahui pengaruh tata kelola dan kinerja perusahaan terhadap financial distress. Penelitian ini menggunakan pendekatan kuantitatif dengan 10 sampel perusahaan yang terdaftar di Bursa Efek Indonesia (BEI) periode 2015-2019. Dengan menggunakan analisis regresi berganda, variabel kepemilikan manajerial, profitabilitas, dan likuiditas berpengaruh negatif terhadap terjadinya financial distress, sedangkan kepemilikan institusional, proporsi dewan komisaris independen, jumlah dewan direksi, dan leverage tidak berpengaruh terhadap financial distress. Penelitian ini memiliki beberapa keterbatasan antara lain tidak tersedianya laporan keuangan untuk beberapa perusahaan, tidak lengkapnya variabel pada beberapa perusahaan, dan hasil penelitian tidak yang dapat disamaratakan untuk perusahaan industri lainnya. Penelitian ini diharapkan dapat memberikan kontribusi sebagai sarana pengembangan teori dan ilmu pengetahuan tentang pengaruh tata kelola perusahaan dan kinerja perusahaan untuk memperkirakan financial distress terutama bagi perusahaan yang bergerak pada bidang industri barang konsumsi.


Keywords


Financial Distress; Corporate Governance; Firm Performance; Tata Kelola Perusahaan; Kinerja Perusahaan

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DOI: http://dx.doi.org/10.17977/um004v9i22022p096

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