PENGARUH UKURAN PERUSAHAAN, EFISIENSI OPERASI, DAN PERTUMBUHAN PENJUALAN TERHADAP FINANCIAL DISTRESS

Abstract

This research aimed to examine the effect of firm size, operation efficiency, and sales growth on financial distress. The firm size was measured by total assets of the natural logarithm. The operational efficiency was measured by Total Asset Turnover (TATO), namely the ratio of total asset turnover. While the sales growth was measured by using the reduction in current year sales with last year's sales results compared to the previous year's sales. The research was quantitative. Moreover, the population was 20 tourism and hotel companies listed on the Indonesia Stock Exchange (IDX). The data collection technique used purposive sampling. In line with that, there were 80 tourism and hotel companies as the sample during 4 years of observation from 2018 until 2021. Furthermore, the data analysis technique used multiple linear regression with SPSS (Statistical Product and Service Solution) 21. The result showed that firm size had a negative effect on the financial distress of tourism and hotel companies listed on IDX. On the other hand, both operation efficiency and sales growth had a positive effect on the financial distress of tourism and hotel companies listed on IDX.