PENGARUH FINANCIAL DISTRESS TERHADAP HARGA SAHAM YANG DIMODERASI STRUKTUR MODAL

Abstract

This study aims to determine the effect of financial distress on capital structure, the effect on stock prices
directly, the influence of capital structure on stock prices and the influence of financial distress on stock
prices moderated by capital structure. The sample sector is the basic and chemical industry
manufacturing sector in Indonesia Stock Exchange during 2011 to 2015. The results showed that
financial distress does not affect the structure of capital, financial distress and capital structure partially
does not affect the stock price as well as other test results indicate that financial distress effect on stock
prices moderated capital structure. In subsequent research it is desirable to use samples that vary not only
from the basic industrial and chemical sectors but also from other industrial sectors as well as adding
other variables directly related to the financial impact of stress.
Keywords : financial distress, capital structure, stock price