PENGARUH LIKUIDITAS, LEVERAGE, OPERATING CAPACITY, DAN SALES GROWTH TERHADAP FINANCIAL DISTRESS PADA PERUSAHAAN INDUSTRI BARANG KONSUMSI SUB SEKTOR MAKANAN DAN MINUMAN

This study aims to examine the effect of liquidity, leverage, operating capacity, and sales growth on financial distress. Liquidity measured by current ratio, leverage measured by debt to equity ratio, operating capacity measured by total assets turnover, and sales growth significant effects on financial distress. Financial distress is the stage of a decline in financial conditions experienced by the company before the bankruptcy. The research objective to be achieved is to provide understanding and knowledge to the public, especially investors and creditors about the effect of liquidity, leverage, operating capacity, and sales growth on financial distress. The population in this study are food and beverage sub-sector consumer goods industry companies listed on the Indonesia Stock Exchange. The sample in this study amounted on 16 companies during the 2017-2019.
Sampling used a purposive sampling method. The data analysis technique in this study used descriptive statistics to determine the mean, maximum, minimum, and standar deviation. The selection model of the panel data regression results of chow test and hausman test the result is fixed effect model. Classical assumption test consisting of normality test, multicollinearity test, heteroscedasticity test, and autocorrelation test. The last test is the hypoteshis test which consists of the T test, F test, and the coefficient determination. Based on the results of research conducted, the conclusion that can be drawn is that Liquidity Ratio has a negative and no significant effects on financial distress, Leverage has a positive and no significant effects on financial distress, Operating Capacity has a negative and no significant effects on financial distress, and Sales Growth has a negative and no significant effects on financial distress.

Keywords: Liquidity, Leverage, Operating Capacity, Sales Growth, Financial Distress