ANALISIS RASIO KEUANGAN UNTUK MEMPREDIKSI KONDISI FINANCIAL DISTRESS (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2011-2015)
Abstract
This research aims to test the effect of financial ratios which are liquidity ratios,
profitability ratios, financial leverage ratios and total asset turnover to predict the probability of
financial distress in the manufacturing companies listed in Indonesia Stock Exchange for the
period of 2011-2015. Data used in this research are secondary ones which obtained from
www.idx.co.id. Data analysis method used logistic regression analysis.
The results showed that (1) the liquidity ratios had no effect on financial distress. This is
showed by the regression coefficient of -0,372 and significance of the resulting value are greater
than required, namely 0,156 > 0,05. (2) the profitability ratios had a effect on financial distress.
This is showed by the regression coefficient of -12,850 and significance of the resulting value was
smaller than the required significance level is 0,002 < 0,05. (3) financial leverage ratios had a
effect on financial distress. This showed by the regression coefficient of 1,292 and significance of
the value was smaller than the required significance level is 0,044 < 0,05. (4) total asset turnover
had no effect on financial distress. This showed by the regression coefficient og -0,269 and
significance of the resulting value are greater than required, namely 0,571 > 0,05.
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