Pengaruh Rasio Keuangan, Struktur Corporate Governance, dan Ukuran Perusahaan Terhadap Financial Distress (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di BEI Periode 2011-2014)

ABSTRAK

Penelitian ini bertujuan untuk mengetahui pengaruh rasio keuangan,
struktur corporate governance, dan ukuran perusahaan terhadapfinancial
distress.Rasio keuangan yangdigunakan dalam penelitianiniadalah likuiditas,
leverage, profitabilitas, dan rasio aktivitas.Sedangkan struktur corporate
governance yang digunakan dalam penelitian ini adalah komisaris independen,
kepemilikan manjerial, dan kepemilikan institusional.
Populasipadapenelitianiniadalah
141perusahaan
manufaktur
yangterdaftardiBursa
Efek
Indonesiatahun
2011-2014.
Berdasarkan
metodepurposive sampling, sampel yang diperoleh sebanyak 50 perusahaan.
Kriteria
financial
distress
dalam

penelitianinidiukurdenganmenggunakanmetodeinterestcoverageratio.Analisis
data menggunakan regresilogistik dengan bantuan SPPS 21.
Hasilanalisismenunjukkanbahwa hanya profitabilitas berpengaruh terhadap
financial distress.Sedangkan likuiditas, leverage, rasio aktivitas, komisaris
independen, kepemilikan manajerial, kepemilikan institusional dan ukuran
perusahaan tidak berpengaruh terhadap financial distress.
Kata kunci :financial distress, likuiditas, leverage, profitabilitas, rasio aktivitas,
komisaris independen, kepemilikan manajerial, kepemilikan
institusional, ukuran perusahaan, daninterest coverageratio

ii
Universitas Sumatera Utara

ABSTRACT

This study investigates the impact financial ratio, corporate governance
structure, and firm size on financial distress. The financial ratio that use in this
study are liquidity, leverage, profitability, and activity ratio. And corporate
governance structure that use ini this study are independent committee,
managerial owners, and institutional owners.

Population that use in this study is 141 listed manufacture firms in
Indonesia Stock Exchange in 2011-2014. Based on purposive sampling method,
there are 50 samples. Financial distress criteria is measure by interest coverage
ratio method. Data analysis using logistic regression with SPSS 21.
The result show that profitability has affect with financial distress. Liquidity,
leverage, activity ratio, independent committee, managerial owners, institutional
ownners, and firm size has not effect with financial distress.
Keyword: financial distress, liquidity, leverage, profitability, activity ratio,
independent committee, managerial owners, institutional owner, firm
size, and interest coverage ratio

iii
Universitas Sumatera Utara