ANALISIS FAKTOR-FAKTOR YANG MEMENGARUHI FINANCIAL DISTRESS SEBELUM DAN SELAMA PANDEMI COVID-19
Ayu Suci Ramadhani, Dr. Hermeindito, SE, MM.
2023 | Tesis | S2 MANAJEMEN (MM) JAKARTA
Penelitian ini bertujuan untuk menguji perbedaan kondisi financial distress sebelum dan selama
pandemi covid-19, serta menguji pengaruh kinerja
keuangan yaitu profitabilitas, likuiditas, leverage dan aktivitas (efisiensi) terhadap kondisi financial distress sebelum dan selama
pandemi covid-19. Penelitian pada perusahaan sektor transportasi dan logistik,
sektor pariwisata, hotel dan restoran, serta sektor properti, real estate dan konstruksi bangunan yang
terdaftar di Bursa Efek Indonesia dengan sampel sebanyak 119 perusahaan.
Periode waktu penelitian tahun 2018-2021 yaitu tahun 2018-2019 untuk periode
sebelum pandemi covid-19 dan 2020-2021 untuk periode selama pandemi covid. Analisis
data penelitian menggunakan regresi logistik.
Hasil penelitian menunjukkan bahwa tidak terdapat perbedaan yang
signifikan financial distress pada waktu sebelum dan selama pandemi
covid-19. Profitabilitas memiliki pengaruh signifikan terhadap financial
distress baik pada masa sebelum maupun selama masa pandemi covid-19.
Aktivitas (efisiensi) tidak berpengaruh signifikan terhadap financial
distress pada saat sebelum pandemi covid-19, namun berpengaruh signifikan
selama masa pandemi covid-19. Sedangkan likuiditas dan leverage tidak
berpengaruh signifikan terhadap financial distress.
This
reseacrh aims to test the differences in financial distress conditions before
and during the Covid-19 pandemic, and testing the effect of financial
performance, that is profitability, liquidity, leverage and activity
(efficiency) on financial distress conditions before and during the COVID-19
pandemic. Research on companies in the transportation and logistics sector,
tourism, hotel and restaurant sector, and property, real estate and building
construction sector listed on the Indonesia Stock Exchange with a sample of 119
companies. The research time period of 2018-2021 is 2018-2019 for the period
before the Covid-19 pandemic and 2020-2021 for the period during the Covid-19
pandemic. Analysis of research data using logistic regression.
The
results showed that there was no significant difference in financial distress
before and during the Covid-19 pandemic. Profitability had a significant
influence on financial distress both before and during the Covid-19 pandemic.
Activity (efficiency) did not have a significant effect on financial
distress before the Covid-19 pandemic, but had
a significant effect during the Covid-19 pandemic. Meanwhile, liquidity and
leverage do not have a significant effect on financial distress
Kata Kunci : Financial distress, Covid-19, profitabilitas, likuiditas, leverage, aktivitas