APAKAH PROFITABILITAS, LEVERAGE, DAN UKURAN PERUSAHAAN MENURUNKAN KESULITAN KEUANGAN PERUSAHAAN?

Erwan Erwan, Riki Martusa, Meythi Meythi

Abstract


Abstrak – Apakah Profitabilitas, Leverage, dan Ukuran Perusahaan Menurunkan Kesulitan Keuangan Perusahaan?

Tujuan Utama - Penelitian ini bertujuan menginvestigasi pengaruh profitabilitas, leverage, dan ukuran perusahaan terhadap kesulitan keuangan sebelum dan saat pandemi Covid-19.

Metode – Penelitian ini menggunakan metode regresi linear berganda. Sampel penelitian ini adalah perusahaan sektor minyak dan gas yang terdaftar di BEI periode 2018-2021.

Temuan Utama – Penelitian ini menemukan bahwa sebelum Covid-19, profitabilitas dan leverage memiliki pengaruh terhadap kesulitan keuangan. Namun, selama masa pandemi Covid-19, hanya leverage yang berpengaruh terhadap kesulitan keuangan. Selanjutnya, pengaruh ukuran perusahaan terhadap tingkat kesulitan keuangan tidak terdukung.

Implikasi Teori dan Kebijakan – Hasil penelitian ini memperkuat teori keagenan dalam kesulitan keuangan perusahaan. Pada aspek praktik, penelitian ini merekomendasikan lembaga keuangan untuk memprioritaskan pendanaan pada perusahaan di sektor minyak dan gas

Kebaruan Penelitian - Kebaruan dari penelitian ini terletak pada pengujian yang komprehensif terhadap dampak profitabilitas, leverage, dan ukuran perusahaan terhadap kesulitan keuangan sebelum dan selama masa pandemi Covid-19.

 

Abstract – Do Profitability, Leverage, and Company Size Reduce Company Financial Difficulties?

Main Purpose - This research investigates the influence of profitability, leverage, and company size on financial difficulties before and during the Covid-19 pandemic.

Method – This research uses the multiple linear regression method. The sample is oil and gas sector companies listed on the IDX for 2018-2021.

Main Findings – This research found that before Covid-19, profitability and leverage had an influence on financial distress. However, during the Covid-19 pandemic, only leverage had an effect. Furthermore, the influence of company size on financial difficulty is not supported.

Theory and Practical Implications - The results of this research strengthen agency theory in corporate financial difficulties. In the practical aspect, this research recommends that financial institutions prioritize funding for companies in the oil and gas sector.

Novelty - The novelty of this research lies in its comprehensive examination of the impact of profitability, leverage, and company size on financial difficulties before and during the Covid-19 pandemic.


Keywords


kesulitan keuangan; leverage; profitabilitas; teori keagenan

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References


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DOI: http://dx.doi.org/10.21776/ub.jamal.2023.14.2.29

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