Analisis Pengaruh Management Capability Dan Corporate Governance Terhadap Financial Distress Dengan Leverage Sebagai Variabel Moderasi
Lampiran 1
Data Earnings Before Income Tax (EBIT)
EBIT negatif selama 2 tahun berturut-turut
: Kategori Financial Distress
ICR
Perusahaan
ADRO
$
ARII
$
(30,036,000)
ATPK
$
75,281,109,000
$
BYAN
$
(200,353,337)
$
(67,651,031)
Financial Distress
DOID
$
27,103,362
$
(28,187,065)
Non Financial Distress
GEMS
$
KKGI
$
MYOH
$
PKPK
$
PTRO
$
SMMT
185,676,112,789
12,770,508
$
2014
419,284,000
$
(15,665,000)
Kategori
2013
325,360,000
$
13,040,702,000
311,618,234,255
Non Financial Distress
Financial Distress
Non Financial Distress
Non Financial Distress
$
25,137,438
Non Financial Distress
360,967,839,000
$
234,609,494
Non Financial Distress
(38,099,585,000)
$
(6,704,500)
22,005,000
$
27,596
$
(3,502,096,211)
$
20,348,658,825
Financial Distress
BUMI
$
(310,018,420)
$
(745,238,913)
Financial Distress
HRUM
$
7,361,665
$
63,074,121
Non Financial Distress
ITMG
$
262,030
$
320,948
Non Financial Distress
Financial Distress
Non Financial Distress
76
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Lampiran 2
Hasil Perhitungan PRESTISE_PEND, STRATA_PEND , UDK, UDD, dan
Leverage pada Tahun 2011.
Kode
Perusahaan
PRESTISE_PEND
STRATA_PEND
UDK
UDD
LEVERAGE
ADRO
0.77
2.38
7.00
6.00
1.32
ARII
0.70
2.50
5.00
5.00
0.65
ATPK
0.33
3.17
4.00
2.00
0.65
BYAN
0.79
2.64
9.00
5.00
1.22
DOID
0.75
2.83
5.00
7.00
10.22
GEMS
0.75
2.25
6.00
6.00
0.17
KKGI
0.57
2.43
3.00
4.00
0.49
MYOH
0.75
2.13
5.00
3.00
0.73
PKPK
0.17
2.00
3.00
3.00
1.47
PTRO
0.62
2.69
6.00
7.00
1.37
SMMT
0.38
2.38
3.00
5.00
0.17
BUMI
0.62
2.31
5.00
8.00
5.26
HRUM
0.50
2.38
4.00
5.00
0.31
ITMG
0.64
2.82
5.00
6.00
0.46
77
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Lampiran 3
Hasil Perhitungan PRESTISE_PEND, STRATA_PEND , UDK, UDD, dan
Leverage pada Tahun 2012.
Kode
Perusahaan
PRESTISE_PEND
STRATA_PEND
UDK
UDD
LEVERAGE
ADRO
0.77
2.38
7.00
6.00
1.23
ARII
0.83
2.58
6.00
6.00
1.07
ATPK
0.25
2.38
5.00
3.00
2.44
BYAN
0.73
2.53
10.00
5.00
1.70
DOID
0.77
2.85
5.00
8.00
11.96
GEMS
0.67
2.17
6.00
6.00
0.19
KKGI
0.50
2.40
5.00
5.00
0.42
MYOH
0.88
2.13
5.00
3.00
3.77
PKPK
0.17
2.17
3.00
3.00
1.27
PTRO
0.62
2.69
6.00
7.00
1.83
SMMT
0.50
2.75
3.00
5.00
0.08
BUMI
0.74
2.22
7.00
12.00
14.29
HRUM
0.50
2.38
4.00
5.00
0.26
ITMG
0.60
2.70
4.00
6.00
0.49
78
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Lampiran 4
Hasil Perhitungan PRESTISE_PEND, STRATA_PEND , UDK, UDD, dan
Leverage pada Tahun 2013.
Kode
Perusahaan
PRESTISE_PEND
STRATA_PEND
UDK
UDD
LEVERAGE
ADRO
0.67
2.42
7.00
5.00
1.11
ARII
0.83
2.58
6.00
6.00
1.38
ATPK
0.25
2.38
5.00
3.00
0.33
BYAN
0.73
2.47
10.00
5.00
0.71
DOID
0.83
2.83
4.00
8.00
14.81
GEMS
0.64
2.09
6.00
5.00
0.35
KKGI
0.45
2.36
6.00
5.00
0.45
MYOH
0.86
2.14
4.00
3.00
1.32
PKPK
0.17
2.17
3.00
3.00
1.06
PTRO
0.64
2.71
7.00
7.00
1.58
SMMT
0.50
2.75
3.00
5.00
0.35
BUMI
0.54
2.23
6.00
7.00
-24.12
HRUM
0.50
2.38
4.00
5.00
0.22
ITMG
0.58
2.75
6.00
6.00
0.44
79
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Lampiran 5
Hasil Perhitungan PRESTISE_PEND, STRATA_PEND , UDK, UDD, dan
Leverage pada Tahun 2014.
Kode
Perusahaan
PRESTISE_PEND
STRATA_PEND
UDK
UDD
LEVERAGE
ADRO
0.69
2.46
8.00
5.00
0.97
ARII
0.73
2.45
5.00
6.00
2.16
ATPK
0.25
2.38
5.00
3.00
0.53
BYAN
0.73
2.47
10.00
5.00
0.78
DOID
0.80
2.90
4.00
6.00
8.85
GEMS
0.64
2.36
6.00
5.00
0.27
KKGI
0.45
2.36
6.00
5.00
0.38
MYOH
0.86
2.29
4.00
3.00
1.02
PKPK
0.20
2.20
2.00
3.00
1.07
PTRO
0.60
2.70
5.00
5.00
1.43
SMMT
0.50
2.75
3.00
5.00
0.58
BUMI
0.54
2.27
6.00
7.00
-9.87
HRUM
0.50
2.38
4.00
5.00
0.23
ITMG
0.60
2.80
4.00
6.00
0.45
80
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Lampiran 6
Hasil output spss
Descriptive Statistics
N
Minimum
Maximum
Mean
Std. Deviation
PRESTISE_PEND
56
.1667
.8750
.5914
.1936
STRATA_PEND
56
2
3.1667
2.4687
.2486
UDK
56
2
10
5.27
1.814
UDD
56
2
12
5.25
1.719
LEVERAGE
56
-24.1183
14.8127
1.327
5.0796
Valid N (listwise)
56
Case Processing Summary
Unweighted Casesa
Selected Cases
N
Included in Analysis
Missing Cases
Total
Unselected Cases
Total
Percent
56
90.3
6
9.7
62
100.0
0
.0
62
100.0
a. If weight is in effect, see classification table for the total
number of cases.
Dependent Variable Encoding
Original Value
Non Distress
Distress
Internal Value
0
1
Block 0: Beginning Block
Iteration Historya,b,c
Coefficients
Iteration
Step 0
-2 Log likelihood
Constant
1
67.047
-.857
2
67.006
-.916
3
67.006
-.916
a. Constant is included in the model.
b. Initial -2 Log Likelihood: 67.006
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c. Estimation terminated at iteration number 3
because parameter estimates changed by less than
.001.
Classification Tablea,b
Predicted
FD
Step 0
Observed
Non Distress
FD
Distress
Percentage
Non Distress
Distress
Correct
40
0
100.0
16
0
.0
Overall Percentage
71.4
a. Constant is included in the model.
b. The cut value is .500
Variables in the Equation
B
Step 0
Constant
S.E.
-.916
Wald
.296
df
9.595
Sig.
1
.002
Exp(B)
.400
Variables not in the Equation
Score
Step 0
Variables PRESTISE_PEND
df
Sig.
.153
1
.695
STRATA_PEND
4.174
1
.041
UDK
3.715
1
.054
UDD
.754
1
.385
Overall Statistics
10.832
4
.029
82
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Block 1: Method = Enter
Iteration Historya,b,c,d
Coefficients
Iteration
Step 1
-2 Log likelihood
Constant
PRESTISE
STRATA_P
_PEND
END
UDK
UDD
1
56.417
2.764
-2.270
-2.053
.316
.214
2
54.635
4.953
-3.090
-3.312
.438
.307
3
54.524
5.763
-3.318
-3.760
.476
.335
4
54.524
5.834
-3.336
-3.798
.479
.337
5
54.524
5.834
-3.336
-3.798
.479
.337
a. Method: Enter
b. Constant is included in the model.
c. Initial -2 Log Likelihood: 67.006
d. Estimation terminated at iteration number 5 because parameter estimates changed by less than
.001.
Omnibus Tests of Model Coefficients
Chi-square
Step 1
df
Sig.
Step
12.483
4
.014
Block
12.483
4
.014
Model
12.483
4
.014
Model Summary
Step
1
Cox & Snell R
Nagelkerke R
Square
Square
-2 Log likelihood
54.524a
.200
.286
a. Estimation terminated at iteration number 5 because
parameter estimates changed by less than .001.
Hosmer and Lemeshow Test
Step
1
Chi-square
11.422
df
Sig.
7
.121
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Contingency Table for Hosmer and Lemeshow Test
FD = Non Distress
FD = Distress
Observed
Step 1
Expected
Observed
Expected
Total
1
6
5.806
0
.194
6
2
6
5.600
0
.400
6
3
3
5.339
3
.661
6
4
4
4.089
1
.911
5
5
6
5.424
1
1.576
7
6
6
4.728
1
2.272
7
7
4
3.658
2
2.342
6
8
3
3.006
3
2.994
6
9
2
2.351
5
4.649
7
Classification Tablea
Predicted
Step 1
Observed
FD
Non Distress
FD
Non Distress
Distress
Distress
Percentage
Correct
38
2
95.0
8
8
50.0
Overall Percentage
82.1
a. The cut value is .500
Variables in the Equation
B
Step
1a
S.E.
Wald
df
Sig.
Exp(B)
PRESTISE_PEND
-3.336
2.367
1.987
1
.159
.036
STRATA_PEND
-3.798
1.891
4.036
1
.045
.022
UDK
.479
.223
4.612
1
.032
1.615
UDD
.337
.265
1.618
1
.203
1.401
5.834
4.121
2.005
1
.157
341.741
Constant
a. Variable(s) entered on step 1: PRESTISE_PEND, STRATA_PEND, UDK, UDD.
84
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Correlation Matrix
PRESTISE_
STRATA_P
PEND
END
Constant
Step 1
Constant
UDK
UDD
1.000
.069
-.945
.001
.067
.069
1.000
-.088
-.534
-.404
-.945
-.088
1.000
-.133
-.252
UDK
.001
-.534
-.133
1.000
.036
UDD
.067
-.404
-.252
.036
1.000
PRESTISE_PEND
STRATA_PEND
Model Summary
Std. Error of the
Model
R
R Square
.446a
1
Adjusted R Square
.198
Estimate
.150
.408
a. Predictors: (Constant), Ln_LEV*PRESTISE, Ln_PRESTISE, Ln_LEVERAGE
ANOVAa
Model
1
Sum of Squares
df
Mean Square
Regression
2.058
3
.686
Residual
8.312
50
.166
10.370
53
Total
F
Sig.
.011b
4.127
a. Dependent Variable: Financial Distress
b. Predictors: (Constant), Ln_LEV*PRESTISE, Ln_PRESTISE, Ln_LEVERAGE
Coefficientsa
Standardized
Unstandardized Coefficients
Model
1
B
(Constant)
Std. Error
.210
.100
Ln_LEVERAGE
-.063
.097
Ln_PRESTISE
-.189
Ln_LEV*PREST
-.393
Coefficients
Beta
t
Sig.
2.096
.041
-.167
-.646
.521
.130
-.190
-1.453
.153
.179
-.556
-2.194
.033
a. Dependent Variable: Financial Distress
85
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Model Summary
Model
R
Std. Error of the
Square
Estimate
R Square
.485a
1
Adjusted R
.236
.190
.398
a. Predictors: (Constant), Ln_LEV*STRATA, Ln_STRATA, Ln_LEVERAGE
ANOVAa
Model
1
Sum of Squares
df
Mean Square
Regression
2.442
3
.814
Residual
7.928
50
.159
10.370
53
Total
F
Sig.
.004b
5.134
a. Dependent Variable: Financial Distress
b. Predictors: (Constant), Ln_LEV*STRATA, Ln_STRATA, Ln_LEVERAGE
Coefficientsa
Standardized
Unstandardized Coefficients
Model
1
B
Coefficients
Std. Error
Beta
(Constant)
1.290
.506
Ln_LEVERAGE
1.075
.410
Ln_STRATA
-1.104
Ln_LEV*STRATA
-1.029
t
Sig.
2.547
.014
2.848
2.621
.012
.558
-.249
-1.978
.053
.439
-2.554
-2.346
.023
a. Dependent Variable: Financial Distress
Model Summary
Model
1
R
R Square
.291a
Adjusted R
Std. Error of the
Square
Estimate
.085
.030
.436
a. Predictors: (Constant), Ln_LEV*UDK, Ln_UDK, Ln_LEVERAGE
ANOVAa
Model
1
Sum of Squares
Regression
Residual
Total
df
Mean Square
.881
3
.294
9.490
50
.190
10.370
53
F
Sig.
.214b
1.546
a. Dependent Variable: Financial Distress
b. Predictors: (Constant), Ln_LEV*UDK, Ln_UDK, Ln_LEVERAGE
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Coefficientsa
Standardized
Unstandardized Coefficients
Model
1
B
Coefficients
Std. Error
(Constant)
.053
.294
-.035
.312
Ln_UDK
.132
Ln_LEV*UDK
.085
Ln_LEVERAGE
Beta
t
Sig.
.182
.856
-.093
-.113
.911
.178
.104
.743
.461
.199
.352
.428
.670
F
Sig.
a. Dependent Variable: Financial Distress
Model Summary
Model
R
R Square
.280a
1
Adjusted R
Std. Error of the
Square
Estimate
.078
.023
.437
a. Predictors: (Constant), Ln_ LEV*UDD, Ln_UDD, Ln_LEVERAGE
ANOVAa
Model
1
Sum of Squares
Regression
Residual
Total
df
Mean Square
.814
3
.271
9.557
50
.191
10.370
53
.248b
1.419
a. Dependent Variable: Financial Distress
b. Predictors: (Constant), Ln_ LEV*UDD, Ln_UDD, Ln_LEVERAGE
Coefficientsa
Standardized
Unstandardized Coefficients
Model
1
B
Std. Error
(Constant)
.414
.322
Ln_LEVERAGE
.144
.327
Ln_UDD
-.088
Ln_LEV*UDD
-.019
Coefficients
Beta
t
Sig.
1.285
.205
.380
.440
.662
.204
-.067
-.433
.667
.179
-.091
-.103
.918
a. Dependent Variable: Financial Distress
87
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Lampiran 7
Nilai Chi-Square Tabel
Chi-square Distribution Table
d.f.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
22
24
26
28
30
32
34
38
42
46
50
55
60
65
70
75
80
85
90
95
100
.995
0.00
0.01
0.07
0.21
0.41
0.68
0.99
1.34
1.73
2.16
2.60
3.07
3.57
4.07
4.60
5.14
5.70
6.26
6.84
7.43
8.64
9.89
11.16
12.46
13.79
15.13
16.50
19.29
22.14
25.04
27.99
31.73
35.53
39.38
43.28
47.21
51.17
55.17
59.20
63.25
67.33
.99
0.00
0.02
0.11
0.30
0.55
0.87
1.24
1.65
2.09
2.56
3.05
3.57
4.11
4.66
5.23
5.81
6.41
7.01
7.63
8.26
9.54
10.86
12.20
13.56
14.95
16.36
17.79
20.69
23.65
26.66
29.71
33.57
37.48
41.44
45.44
49.48
53.54
57.63
61.75
65.90
70.06
.975
0.00
0.05
0.22
0.48
0.83
1.24
1.69
2.18
2.70
3.25
3.82
4.40
5.01
5.63
6.26
6.91
7.56
8.23
8.91
9.59
10.98
12.40
13.84
15.31
16.79
18.29
19.81
22.88
26.00
29.16
32.36
36.40
40.48
44.60
48.76
52.94
57.15
61.39
65.65
69.92
74.22
.95
0.00
0.10
0.35
0.71
1.15
1.64
2.17
2.73
3.33
3.94
4.57
5.23
5.89
6.57
7.26
7.96
8.67
9.39
10.12
10.85
12.34
13.85
15.38
16.93
18.49
20.07
21.66
24.88
28.14
31.44
34.76
38.96
43.19
47.45
51.74
56.05
60.39
64.75
69.13
73.52
77.93
.9
0.02
0.21
0.58
1.06
1.61
2.20
2.83
3.49
4.17
4.87
5.58
6.30
7.04
7.79
8.55
9.31
10.09
10.86
11.65
12.44
14.04
15.66
17.29
18.94
20.60
22.27
23.95
27.34
30.77
34.22
37.69
42.06
46.46
50.88
55.33
59.79
64.28
68.78
73.29
77.82
82.36
.1
2.71
4.61
6.25
7.78
9.24
10.64
12.02
13.36
14.68
15.99
17.28
18.55
19.81
21.06
22.31
23.54
24.77
25.99
27.20
28.41
30.81
33.20
35.56
37.92
40.26
42.58
44.90
49.51
54.09
58.64
63.17
68.80
74.40
79.97
85.53
91.06
96.58
102.08
107.57
113.04
118.50
.05
3.84
5.99
7.81
9.49
11.07
12.59
14.07
15.51
16.92
18.31
19.68
21.03
22.36
23.68
25.00
26.30
27.59
28.87
30.14
31.41
33.92
36.42
38.89
41.34
43.77
46.19
48.60
53.38
58.12
62.83
67.50
73.31
79.08
84.82
90.53
96.22
101.88
107.52
113.15
118.75
124.34
.025
5.02
7.38
9.35
11.14
12.83
14.45
16.01
17.53
19.02
20.48
21.92
23.34
24.74
26.12
27.49
28.85
30.19
31.53
32.85
34.17
36.78
39.36
41.92
44.46
46.98
49.48
51.97
56.90
61.78
66.62
71.42
77.38
83.30
89.18
95.02
100.84
106.63
112.39
118.14
123.86
129.56
.01
6.63
9.21
11.34
13.28
15.09
16.81
18.48
20.09
21.67
23.21
24.72
26.22
27.69
29.14
30.58
32.00
33.41
34.81
36.19
37.57
40.29
42.98
45.64
48.28
50.89
53.49
56.06
61.16
66.21
71.20
76.15
82.29
88.38
94.42
100.43
106.39
112.33
118.24
124.12
129.97
135.81
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Data Earnings Before Income Tax (EBIT)
EBIT negatif selama 2 tahun berturut-turut
: Kategori Financial Distress
ICR
Perusahaan
ADRO
$
ARII
$
(30,036,000)
ATPK
$
75,281,109,000
$
BYAN
$
(200,353,337)
$
(67,651,031)
Financial Distress
DOID
$
27,103,362
$
(28,187,065)
Non Financial Distress
GEMS
$
KKGI
$
MYOH
$
PKPK
$
PTRO
$
SMMT
185,676,112,789
12,770,508
$
2014
419,284,000
$
(15,665,000)
Kategori
2013
325,360,000
$
13,040,702,000
311,618,234,255
Non Financial Distress
Financial Distress
Non Financial Distress
Non Financial Distress
$
25,137,438
Non Financial Distress
360,967,839,000
$
234,609,494
Non Financial Distress
(38,099,585,000)
$
(6,704,500)
22,005,000
$
27,596
$
(3,502,096,211)
$
20,348,658,825
Financial Distress
BUMI
$
(310,018,420)
$
(745,238,913)
Financial Distress
HRUM
$
7,361,665
$
63,074,121
Non Financial Distress
ITMG
$
262,030
$
320,948
Non Financial Distress
Financial Distress
Non Financial Distress
76
Universitas Sumatera Utara
Lampiran 2
Hasil Perhitungan PRESTISE_PEND, STRATA_PEND , UDK, UDD, dan
Leverage pada Tahun 2011.
Kode
Perusahaan
PRESTISE_PEND
STRATA_PEND
UDK
UDD
LEVERAGE
ADRO
0.77
2.38
7.00
6.00
1.32
ARII
0.70
2.50
5.00
5.00
0.65
ATPK
0.33
3.17
4.00
2.00
0.65
BYAN
0.79
2.64
9.00
5.00
1.22
DOID
0.75
2.83
5.00
7.00
10.22
GEMS
0.75
2.25
6.00
6.00
0.17
KKGI
0.57
2.43
3.00
4.00
0.49
MYOH
0.75
2.13
5.00
3.00
0.73
PKPK
0.17
2.00
3.00
3.00
1.47
PTRO
0.62
2.69
6.00
7.00
1.37
SMMT
0.38
2.38
3.00
5.00
0.17
BUMI
0.62
2.31
5.00
8.00
5.26
HRUM
0.50
2.38
4.00
5.00
0.31
ITMG
0.64
2.82
5.00
6.00
0.46
77
Universitas Sumatera Utara
Lampiran 3
Hasil Perhitungan PRESTISE_PEND, STRATA_PEND , UDK, UDD, dan
Leverage pada Tahun 2012.
Kode
Perusahaan
PRESTISE_PEND
STRATA_PEND
UDK
UDD
LEVERAGE
ADRO
0.77
2.38
7.00
6.00
1.23
ARII
0.83
2.58
6.00
6.00
1.07
ATPK
0.25
2.38
5.00
3.00
2.44
BYAN
0.73
2.53
10.00
5.00
1.70
DOID
0.77
2.85
5.00
8.00
11.96
GEMS
0.67
2.17
6.00
6.00
0.19
KKGI
0.50
2.40
5.00
5.00
0.42
MYOH
0.88
2.13
5.00
3.00
3.77
PKPK
0.17
2.17
3.00
3.00
1.27
PTRO
0.62
2.69
6.00
7.00
1.83
SMMT
0.50
2.75
3.00
5.00
0.08
BUMI
0.74
2.22
7.00
12.00
14.29
HRUM
0.50
2.38
4.00
5.00
0.26
ITMG
0.60
2.70
4.00
6.00
0.49
78
Universitas Sumatera Utara
Lampiran 4
Hasil Perhitungan PRESTISE_PEND, STRATA_PEND , UDK, UDD, dan
Leverage pada Tahun 2013.
Kode
Perusahaan
PRESTISE_PEND
STRATA_PEND
UDK
UDD
LEVERAGE
ADRO
0.67
2.42
7.00
5.00
1.11
ARII
0.83
2.58
6.00
6.00
1.38
ATPK
0.25
2.38
5.00
3.00
0.33
BYAN
0.73
2.47
10.00
5.00
0.71
DOID
0.83
2.83
4.00
8.00
14.81
GEMS
0.64
2.09
6.00
5.00
0.35
KKGI
0.45
2.36
6.00
5.00
0.45
MYOH
0.86
2.14
4.00
3.00
1.32
PKPK
0.17
2.17
3.00
3.00
1.06
PTRO
0.64
2.71
7.00
7.00
1.58
SMMT
0.50
2.75
3.00
5.00
0.35
BUMI
0.54
2.23
6.00
7.00
-24.12
HRUM
0.50
2.38
4.00
5.00
0.22
ITMG
0.58
2.75
6.00
6.00
0.44
79
Universitas Sumatera Utara
Lampiran 5
Hasil Perhitungan PRESTISE_PEND, STRATA_PEND , UDK, UDD, dan
Leverage pada Tahun 2014.
Kode
Perusahaan
PRESTISE_PEND
STRATA_PEND
UDK
UDD
LEVERAGE
ADRO
0.69
2.46
8.00
5.00
0.97
ARII
0.73
2.45
5.00
6.00
2.16
ATPK
0.25
2.38
5.00
3.00
0.53
BYAN
0.73
2.47
10.00
5.00
0.78
DOID
0.80
2.90
4.00
6.00
8.85
GEMS
0.64
2.36
6.00
5.00
0.27
KKGI
0.45
2.36
6.00
5.00
0.38
MYOH
0.86
2.29
4.00
3.00
1.02
PKPK
0.20
2.20
2.00
3.00
1.07
PTRO
0.60
2.70
5.00
5.00
1.43
SMMT
0.50
2.75
3.00
5.00
0.58
BUMI
0.54
2.27
6.00
7.00
-9.87
HRUM
0.50
2.38
4.00
5.00
0.23
ITMG
0.60
2.80
4.00
6.00
0.45
80
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Lampiran 6
Hasil output spss
Descriptive Statistics
N
Minimum
Maximum
Mean
Std. Deviation
PRESTISE_PEND
56
.1667
.8750
.5914
.1936
STRATA_PEND
56
2
3.1667
2.4687
.2486
UDK
56
2
10
5.27
1.814
UDD
56
2
12
5.25
1.719
LEVERAGE
56
-24.1183
14.8127
1.327
5.0796
Valid N (listwise)
56
Case Processing Summary
Unweighted Casesa
Selected Cases
N
Included in Analysis
Missing Cases
Total
Unselected Cases
Total
Percent
56
90.3
6
9.7
62
100.0
0
.0
62
100.0
a. If weight is in effect, see classification table for the total
number of cases.
Dependent Variable Encoding
Original Value
Non Distress
Distress
Internal Value
0
1
Block 0: Beginning Block
Iteration Historya,b,c
Coefficients
Iteration
Step 0
-2 Log likelihood
Constant
1
67.047
-.857
2
67.006
-.916
3
67.006
-.916
a. Constant is included in the model.
b. Initial -2 Log Likelihood: 67.006
81
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c. Estimation terminated at iteration number 3
because parameter estimates changed by less than
.001.
Classification Tablea,b
Predicted
FD
Step 0
Observed
Non Distress
FD
Distress
Percentage
Non Distress
Distress
Correct
40
0
100.0
16
0
.0
Overall Percentage
71.4
a. Constant is included in the model.
b. The cut value is .500
Variables in the Equation
B
Step 0
Constant
S.E.
-.916
Wald
.296
df
9.595
Sig.
1
.002
Exp(B)
.400
Variables not in the Equation
Score
Step 0
Variables PRESTISE_PEND
df
Sig.
.153
1
.695
STRATA_PEND
4.174
1
.041
UDK
3.715
1
.054
UDD
.754
1
.385
Overall Statistics
10.832
4
.029
82
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Block 1: Method = Enter
Iteration Historya,b,c,d
Coefficients
Iteration
Step 1
-2 Log likelihood
Constant
PRESTISE
STRATA_P
_PEND
END
UDK
UDD
1
56.417
2.764
-2.270
-2.053
.316
.214
2
54.635
4.953
-3.090
-3.312
.438
.307
3
54.524
5.763
-3.318
-3.760
.476
.335
4
54.524
5.834
-3.336
-3.798
.479
.337
5
54.524
5.834
-3.336
-3.798
.479
.337
a. Method: Enter
b. Constant is included in the model.
c. Initial -2 Log Likelihood: 67.006
d. Estimation terminated at iteration number 5 because parameter estimates changed by less than
.001.
Omnibus Tests of Model Coefficients
Chi-square
Step 1
df
Sig.
Step
12.483
4
.014
Block
12.483
4
.014
Model
12.483
4
.014
Model Summary
Step
1
Cox & Snell R
Nagelkerke R
Square
Square
-2 Log likelihood
54.524a
.200
.286
a. Estimation terminated at iteration number 5 because
parameter estimates changed by less than .001.
Hosmer and Lemeshow Test
Step
1
Chi-square
11.422
df
Sig.
7
.121
83
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Contingency Table for Hosmer and Lemeshow Test
FD = Non Distress
FD = Distress
Observed
Step 1
Expected
Observed
Expected
Total
1
6
5.806
0
.194
6
2
6
5.600
0
.400
6
3
3
5.339
3
.661
6
4
4
4.089
1
.911
5
5
6
5.424
1
1.576
7
6
6
4.728
1
2.272
7
7
4
3.658
2
2.342
6
8
3
3.006
3
2.994
6
9
2
2.351
5
4.649
7
Classification Tablea
Predicted
Step 1
Observed
FD
Non Distress
FD
Non Distress
Distress
Distress
Percentage
Correct
38
2
95.0
8
8
50.0
Overall Percentage
82.1
a. The cut value is .500
Variables in the Equation
B
Step
1a
S.E.
Wald
df
Sig.
Exp(B)
PRESTISE_PEND
-3.336
2.367
1.987
1
.159
.036
STRATA_PEND
-3.798
1.891
4.036
1
.045
.022
UDK
.479
.223
4.612
1
.032
1.615
UDD
.337
.265
1.618
1
.203
1.401
5.834
4.121
2.005
1
.157
341.741
Constant
a. Variable(s) entered on step 1: PRESTISE_PEND, STRATA_PEND, UDK, UDD.
84
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Correlation Matrix
PRESTISE_
STRATA_P
PEND
END
Constant
Step 1
Constant
UDK
UDD
1.000
.069
-.945
.001
.067
.069
1.000
-.088
-.534
-.404
-.945
-.088
1.000
-.133
-.252
UDK
.001
-.534
-.133
1.000
.036
UDD
.067
-.404
-.252
.036
1.000
PRESTISE_PEND
STRATA_PEND
Model Summary
Std. Error of the
Model
R
R Square
.446a
1
Adjusted R Square
.198
Estimate
.150
.408
a. Predictors: (Constant), Ln_LEV*PRESTISE, Ln_PRESTISE, Ln_LEVERAGE
ANOVAa
Model
1
Sum of Squares
df
Mean Square
Regression
2.058
3
.686
Residual
8.312
50
.166
10.370
53
Total
F
Sig.
.011b
4.127
a. Dependent Variable: Financial Distress
b. Predictors: (Constant), Ln_LEV*PRESTISE, Ln_PRESTISE, Ln_LEVERAGE
Coefficientsa
Standardized
Unstandardized Coefficients
Model
1
B
(Constant)
Std. Error
.210
.100
Ln_LEVERAGE
-.063
.097
Ln_PRESTISE
-.189
Ln_LEV*PREST
-.393
Coefficients
Beta
t
Sig.
2.096
.041
-.167
-.646
.521
.130
-.190
-1.453
.153
.179
-.556
-2.194
.033
a. Dependent Variable: Financial Distress
85
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Model Summary
Model
R
Std. Error of the
Square
Estimate
R Square
.485a
1
Adjusted R
.236
.190
.398
a. Predictors: (Constant), Ln_LEV*STRATA, Ln_STRATA, Ln_LEVERAGE
ANOVAa
Model
1
Sum of Squares
df
Mean Square
Regression
2.442
3
.814
Residual
7.928
50
.159
10.370
53
Total
F
Sig.
.004b
5.134
a. Dependent Variable: Financial Distress
b. Predictors: (Constant), Ln_LEV*STRATA, Ln_STRATA, Ln_LEVERAGE
Coefficientsa
Standardized
Unstandardized Coefficients
Model
1
B
Coefficients
Std. Error
Beta
(Constant)
1.290
.506
Ln_LEVERAGE
1.075
.410
Ln_STRATA
-1.104
Ln_LEV*STRATA
-1.029
t
Sig.
2.547
.014
2.848
2.621
.012
.558
-.249
-1.978
.053
.439
-2.554
-2.346
.023
a. Dependent Variable: Financial Distress
Model Summary
Model
1
R
R Square
.291a
Adjusted R
Std. Error of the
Square
Estimate
.085
.030
.436
a. Predictors: (Constant), Ln_LEV*UDK, Ln_UDK, Ln_LEVERAGE
ANOVAa
Model
1
Sum of Squares
Regression
Residual
Total
df
Mean Square
.881
3
.294
9.490
50
.190
10.370
53
F
Sig.
.214b
1.546
a. Dependent Variable: Financial Distress
b. Predictors: (Constant), Ln_LEV*UDK, Ln_UDK, Ln_LEVERAGE
86
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Coefficientsa
Standardized
Unstandardized Coefficients
Model
1
B
Coefficients
Std. Error
(Constant)
.053
.294
-.035
.312
Ln_UDK
.132
Ln_LEV*UDK
.085
Ln_LEVERAGE
Beta
t
Sig.
.182
.856
-.093
-.113
.911
.178
.104
.743
.461
.199
.352
.428
.670
F
Sig.
a. Dependent Variable: Financial Distress
Model Summary
Model
R
R Square
.280a
1
Adjusted R
Std. Error of the
Square
Estimate
.078
.023
.437
a. Predictors: (Constant), Ln_ LEV*UDD, Ln_UDD, Ln_LEVERAGE
ANOVAa
Model
1
Sum of Squares
Regression
Residual
Total
df
Mean Square
.814
3
.271
9.557
50
.191
10.370
53
.248b
1.419
a. Dependent Variable: Financial Distress
b. Predictors: (Constant), Ln_ LEV*UDD, Ln_UDD, Ln_LEVERAGE
Coefficientsa
Standardized
Unstandardized Coefficients
Model
1
B
Std. Error
(Constant)
.414
.322
Ln_LEVERAGE
.144
.327
Ln_UDD
-.088
Ln_LEV*UDD
-.019
Coefficients
Beta
t
Sig.
1.285
.205
.380
.440
.662
.204
-.067
-.433
.667
.179
-.091
-.103
.918
a. Dependent Variable: Financial Distress
87
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Lampiran 7
Nilai Chi-Square Tabel
Chi-square Distribution Table
d.f.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
22
24
26
28
30
32
34
38
42
46
50
55
60
65
70
75
80
85
90
95
100
.995
0.00
0.01
0.07
0.21
0.41
0.68
0.99
1.34
1.73
2.16
2.60
3.07
3.57
4.07
4.60
5.14
5.70
6.26
6.84
7.43
8.64
9.89
11.16
12.46
13.79
15.13
16.50
19.29
22.14
25.04
27.99
31.73
35.53
39.38
43.28
47.21
51.17
55.17
59.20
63.25
67.33
.99
0.00
0.02
0.11
0.30
0.55
0.87
1.24
1.65
2.09
2.56
3.05
3.57
4.11
4.66
5.23
5.81
6.41
7.01
7.63
8.26
9.54
10.86
12.20
13.56
14.95
16.36
17.79
20.69
23.65
26.66
29.71
33.57
37.48
41.44
45.44
49.48
53.54
57.63
61.75
65.90
70.06
.975
0.00
0.05
0.22
0.48
0.83
1.24
1.69
2.18
2.70
3.25
3.82
4.40
5.01
5.63
6.26
6.91
7.56
8.23
8.91
9.59
10.98
12.40
13.84
15.31
16.79
18.29
19.81
22.88
26.00
29.16
32.36
36.40
40.48
44.60
48.76
52.94
57.15
61.39
65.65
69.92
74.22
.95
0.00
0.10
0.35
0.71
1.15
1.64
2.17
2.73
3.33
3.94
4.57
5.23
5.89
6.57
7.26
7.96
8.67
9.39
10.12
10.85
12.34
13.85
15.38
16.93
18.49
20.07
21.66
24.88
28.14
31.44
34.76
38.96
43.19
47.45
51.74
56.05
60.39
64.75
69.13
73.52
77.93
.9
0.02
0.21
0.58
1.06
1.61
2.20
2.83
3.49
4.17
4.87
5.58
6.30
7.04
7.79
8.55
9.31
10.09
10.86
11.65
12.44
14.04
15.66
17.29
18.94
20.60
22.27
23.95
27.34
30.77
34.22
37.69
42.06
46.46
50.88
55.33
59.79
64.28
68.78
73.29
77.82
82.36
.1
2.71
4.61
6.25
7.78
9.24
10.64
12.02
13.36
14.68
15.99
17.28
18.55
19.81
21.06
22.31
23.54
24.77
25.99
27.20
28.41
30.81
33.20
35.56
37.92
40.26
42.58
44.90
49.51
54.09
58.64
63.17
68.80
74.40
79.97
85.53
91.06
96.58
102.08
107.57
113.04
118.50
.05
3.84
5.99
7.81
9.49
11.07
12.59
14.07
15.51
16.92
18.31
19.68
21.03
22.36
23.68
25.00
26.30
27.59
28.87
30.14
31.41
33.92
36.42
38.89
41.34
43.77
46.19
48.60
53.38
58.12
62.83
67.50
73.31
79.08
84.82
90.53
96.22
101.88
107.52
113.15
118.75
124.34
.025
5.02
7.38
9.35
11.14
12.83
14.45
16.01
17.53
19.02
20.48
21.92
23.34
24.74
26.12
27.49
28.85
30.19
31.53
32.85
34.17
36.78
39.36
41.92
44.46
46.98
49.48
51.97
56.90
61.78
66.62
71.42
77.38
83.30
89.18
95.02
100.84
106.63
112.39
118.14
123.86
129.56
.01
6.63
9.21
11.34
13.28
15.09
16.81
18.48
20.09
21.67
23.21
24.72
26.22
27.69
29.14
30.58
32.00
33.41
34.81
36.19
37.57
40.29
42.98
45.64
48.28
50.89
53.49
56.06
61.16
66.21
71.20
76.15
82.29
88.38
94.42
100.43
106.39
112.33
118.24
124.12
129.97
135.81
88
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