ANALISIS PENGARUH RASIO KEUANGAN, VARIABEL PASAR DAN EKONOMI MAKRO TERHADAP KONDISI KESULITAN KEUANGAN PADA EMITEN MANUFAKTUR DI BURSA EFEK INDONESIA
DOI:
https://doi.org/10.22441/indikator.v5i1.11246Keywords:
rasiokeuangan (Total Fund From Operating, Total Liabilities to Total Asset, No Credit Interval, Interest Coverage Ratio), factor pasar (Abnormal Return, Market Capital To Total Debt, PRICE, SIZE), dan faktor ekonomi makro (KURS, Consumer Price Index), kemAbstract
Kebangkrutan suatu perusahaan diawali oleh adanya kondisi financial distress warning dimana perusahaan mengalami kesulitan keuangan yang disebabkan oleh berbagai factor diantaranya laporankeuangan perusahaan itu sendiri, faktor pasar, dan kondisi ekonomi makro. Ketiga factor ini diantaranya dapat dijadikan prediksi atas risiko kesulitan keuangan pada perusahaan manufaktur yang tercatat di Bursa Efek Indonesia. Tujuan penelitian ini adalah untuk menganalisis pengaruh rasio keuangan yang terdiri dari (Total Fund From Operating /TFOTL, Total Liabilities to Total Asset/TLTA, No CreditInterval /NOCREDINT, Interest Coverage Ratio/ INCOV), faktor pasar (Abnormal Return/ABNRET, Market Capital To Total Debt/MCTD, PRICE, , SIZE), dan faktor ekonomi makro (Nilai Tukar/KURS, Consumer Price Index /CPI) terhadap kemungkinan terjadinya kesulitan keuangan dari 21 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama tahun 2012-2016 yang memenuhi criteria memprediksi tingkat kemungkinan kebangkrutan. Jenis penelitian yang inia dalah penelitian deskriptif kuantitatif dengan purposive sampling sebagai teknik pengambilan sampel.Sehingga hasil penelitian menunjukkan bahwa variabel yang memilikip engaruht erhadap kemungkinan terjadinya kesulitan keuangan adalah TLTA, NOCREDINT, SIZE, KURS, CPI. Sedangkan variabel yang tidak memiliki pengaruh kemungkinan terjadinya kesulitan keuangan adalah TFOTL, INCOV, ABNRET , MCTD, dan PRICE.
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