Effect Of Independent Commissioners, Growth Of Sales, And Liquidity On Financial Distress (Empirical Study of Property and Real Estate Companies listed on the Indonesia Stock Exchange in 2020-2023)
DOI:
https://doi.org/10.30651/stb.v5i2.26095Keywords:
Financial Distress, Independent Commissioner, Sales Growth, LiquidityAbstract
This study aims to determine the effect of Independent Commissioners, Sales Growth, and Liquidity on Financial distress. The type of research used is quantitative research. The population in this study were Property and Real Estate companies listed on the Indonesia Stock Exchange in 2020-2023. This sampling method was carried out by purposive sampling method and obtained 48 companies, with an observation year of 4 years, so that the total research data was 192. The research method used is causal model research. The type of data used in this study is secondary data. The data analysis method used is multiple linear regression analysis method with the help of IBM SPSS version 25. The results of this study prove that independent commissioners have no significant effect on financial distress, sales growth has no significant effect on financial distrees, but liquidity has a significant effect on financial distress.
References
Amalina, Nabilah , Nur, and Nur Trisnaningsih. 2023. “The Effect of Leverage, Liquidity and Company Size on Distress.” Jambura Economic Education Journal 5:88–99.
Besley, Scott, and Eugene F Brigham. 2020. Essentials of Managerial Finance.
Fahmi, Irham. 2021. Financial Statement Analysis.
Francis Hutabarat. 2023. Financial Statement Analysis: Warren Buffett's Perspective. Deepublish.
Goh, Thomas Sumarsan. 2023. Monograph: Financial Distress. Indomedia Pustaka.
Gusti, I, Ayu Prayuningsih, I Dewa, Gusti Ayu, Asri Pramesti, Ni Putu, and Ayu Mirah Mariati. 2022. “The Influence of Profitability, Liquidity, Leverage, Activity Ratios, and Sales Growth on Predicting Financial Distress.”
Iskandar, Diah, and Hendi Prihanto. 2019. “Analysis of Financial Performance in Predicting Financial Distress in Mining Companies.” Saudi Journal of Economics and Finance 03 (12): 601–9. https://doi.org/10.36348/sjef.2019.v03i12.004.
Kartika, Rizky, and Hasanudin. 2019. “Analysis of the Effect of Liquidity, Leverage, Activity, and Profitability on Financial Distress in Public Companies in the Infrastructure, Utilities, and Transportation Sectors for the Period 2011-2015” 15 (January).
Lifia, Sonia, Etty Gurendrawati, and Ahmad Fauzi. 2020. “(Negative Sales Growth) 30298-Article Text-82285-1-10-20221023.” Journal of Accounting, Taxation and Auditing 1:179–94.
Listyaningsih, Fransisca. 2020. “Effect Of Company Profitability, Liquidity, And Size On Corporate Value” 2. www.ijmsssr.org.
Mardahlia, Vivi, and Imam Ghozali. 2023. “The Effect of Corporate Governance on Financial Distress (An Empirical Study of Transportation Sub-Sector Companies Listed on the Indonesia Stock Exchange from 2018 to 2021).” Diponegoro Journal of Accounting 12 (3): 1–10. http://ejournal-s1.undip.ac.id/index.php/accounting.
Muzharoatiningsih. 2022. “The Effect of Financial Ratios, Sales Growth, and Size on Financial Distress in the Consumer Goods Industry Sector on the Jakarta Stock Exchange during the Period 2017-2020.” Journal of Management Science 10 (3): 747–58.
Novianti, Lely, and Triyani Budyastuti. 2022. “The Effect of Sales Growth, Operating Leverage, and Asset Structure on Capital Structure.” Gorontalo Accounting Journal 5 (2): 146. https://doi.org/10.32662/gaj.v5i2.2081.
Nursidin, M, and M Si. 2021 The Effect of Debt-to-Equity Ratio, Net Profit Margin, and Total Asset Turnover on Financial Distress in Companies Listed on the Jakarta Stock Exchange. Journal of the Ganesha Polytechnic Institution of Medan Juripol. Vol. 4. www.idx.co.id.
Putra, Melyana D, and Muhammad Muslih. 2019. “The Influence of Institutional Ownership, Managerial Ownership, Independent Board of Commissioners, and Audit Committees on Financial Distress.” E-Proceeding of Management 6 (2).
Rahardjo, Soemarso Slamet. 2019. Ethics in Business & the Accounting Profession and Corporate Governance.
Septiani, Ni Made Inten, and I Made Dana. 2019. “The Effect of Liquidity, Leverage, and Institutional Ownership on Financial Distress in Property and Real Estate Companies.” E-Journal of Management, Udayana University 8 (5): 3110. https://doi.org/10.24843/ejmunud.2019.v08.i05.p19.
Setiawan, Budi, and Ratna Mappanyukki. 2023. “The Effect of Sales Growth, Capital Intensity on Income Tax Expense with Managerial Abilities as a Moderating Variable.”
Stepani, Putri Nadia, and Lucky Nugroho. 2023 “The Effect of Profitability, Liquidity, Leverage, and Company Size on Financial Distress in Non-Cyclical Consumer Companies Listed on the Indonesia Stock Exchange for the Period 2019-2021.” Journal of Trends Economics and Accounting Research 3 (3): 194–205. https://doi.org/10.47065/jtear.v3i3.551
Sugiyono. 2019 Quantitative, Qualitative, and R&D Research Methods. Alfabeta.
Sumani, Isti Fadah, and Ahmad Roziq. 2021. Good Corporate Governance: Capital Structure and Financial Performance.
Tauhid, Karimah, and ; | Sutisna. 2024. “Literature Study Related to the Role of Agency Theory in the Context of Various Issues in Accounting.” Vol. 3.
Vascha, Dio W, Sri Rahayu, and Sundjoto. 2023. “The Influence of Independent Boards of Commissioners, Liquidity, and Financial Distress.” Journal of Management 13 (2).
Wulandari, Vony Savrina. 2019. “The Influence of Financial Performance, Sales Growth, and Companies on Financial Distress.”
Downloads
Published
Issue
Section
License
Copyright (c) 2025 SUSTAINABLE
This work is licensed under a Creative Commons Attribution 4.0 International License.
Copyright
Copyright for articles published in Sustainable: Accounting Journal.
Authors must submit copyright to the journal by signing and sending the copyright assignment form (template) via email sustainable@um-surabaya.ac.id
Authors can disseminate their articles through any media.
Licence
Every work written by the author is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
