PENGARUH KINERJA KEUANGAN DAN KEPEMILIKAN MANAJERIAL TERHADAP FINANCIAL DISTRESS

Abstract

This research aimed to examine the effect of financial performance and managerial ownership on financial distress. While, the effect of financial performance was consist of firm size, leverage, and sales growth. Meanwhile, the population was manufacturing companies which were listed on indonesia Stock Exchange during 2015-2018. Furthermore, the data collection technique used purposive sampling, in which the sample was based on criteria given. In line with, there were 18 companies or 72 sampels. In addition, the data analysis technique used logistic regression analysis. According to the research result, it concluded firm size had negative and significant effect on financial distress. This was shown as the higher the firm size, the lower the financial distress would be. Likewise, sales growth had negative and significant effect on financial distress. It meant, the higher the sales growth, the lower the financial distress would be. On the other hand, leverage had positive and significant effect on financial distress. In other words, the hgher the leverage, the more consideration of financial distress happened. In constrast, managerial ownership did not affect financial distress.
Keywords: firm size, leverage, sales growth, managerial ownership, financial distress