PENGARUH RASIO LIKUIDITAS, PROFITABILITAS, DAN AKTIVITAS TERHADAP PREDIKSI FINANCIAL DISTRESS PERUSAHAAN TEKSTIL DAN GARMEN

Abstract

The Research aimed to analyze the effect of Liquidity, Profitability, and Activities on Financial Distress Prediction. While, the data analysis technique used Altman Z-Score since the data used financial statement which was proceeded as company financial health indicator. Moreover, the population was Textile and Garment companies which were listed on Indonesia Stock Exchange 2012-2017. This research was quantitative. Furthermore, the data collection technique used purposive sampling, in which the sample was collected with the criteria given. Based on the sampling technique, there were five out of eighteen Textile and Garment companies 2012-2017 as sample. In addition, the data analysis technique used logistic regression analysis with SPSS 24. The research result concluded Current ratio and Return on Asset had negative effect on Financial Distress Prediction. On the other hand, Returnon Equity and Total Asset Turnover had positive effect on Financial Distress Prediction. In other words, there were two companies which estimated bankcrupt. Other tree companies were in grey area, in which there was possibility those companies were either bankcrupt or not bankcrupt. It happened as their finance was fluctuative.
Keywords: liquidity, profitability, activities, financial distress