Analisis Rasio Keuangan untuk Memprediksi Kondisi Financial Distress

Abstract

ABSTRAK Tujuan mengetahui untuk memprediksi dan menganalisi pengaruh liquditas ( current ratio dan working capital to total asset ), profitabilitas ( return on asset, return on equity dan profit margin on sales ) dan laverage ( reterend earning to total assets ) terhadap kondisi Financial Distress perusahaan. Populasi dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2009-2011 sebanyak 158 perusahaan. Pemilihan sampel menggunakan metode purposive sampling yaitu sampel yang dipilh dengan syaraat kriteria tertentu sehingga menghasilkan jumlah sampel sebanyak 115 perusahaan manufaktur. Analisi data yang digunakan yaitu regresi logit, serta uji hipotesis yang terdiri dari uji t (uji parsial). Variabel dependen dalam penelitian ini adalah kondisi Financial distress perusahaan. Sedangkan variabel independen dalam penelitian ini adalah Return on Asset , Return on Equity, Working Capital, Profit Margin on Sales, Reteren Earning to Total Asset dan Current Ratio. Hasil uji simultan menunjukan semua variabel secara simultan tidak dapat mempengaruhi kondisi financial distress perusahaan. Dan hasil uji parsial menunjukan Return on Asset dan Reteren Earning to Total Asset berpengaruah terhadap kondisi financial distress perusahaan dan Variabel Return on Equity, Working Capital, Profit Margin on Sales dan Current Ratio tidak berpengaruh terhadap kondisi financial distress perusahaan. Kata kunci : Current Ratio, Financial distress, Profit Margin on Sales, Return on Asset , Return on Equity, Reteren Earning to Total Asset dan Working Capital. ABSTRACK The purpose of knowing to predict and analyze the influence of liquditas ( current ratio and working capital to total assets ) , profitability ( return on assets , return on equity and profit margin on sales ) and laverage ( reterend earnings to total assets ) of the company's financial distress . The population in this study is a manufacturing company that is listed on the Indonesia Stock Exchange ( IDX ) 2009-2011 as many as 158 companies . The selection of the sample using purposive sampling method chosen samples with syaraat specific criteria resulting in a total sample of 115 manufacturing companies . Analysis of the data used is logit regression , and hypothesis testing consisting of t test ( partial test ) and test f ( simultaneous test ) . The dependent variable in this study is the company's financial distress . While the independent variable in this study is the Return on Assets , Return on Equity , Working Capital , Profit Margin on Sales , Reteren Earning to Total Assets and Current Ratio . The test results showed simultaneous all variables simultaneously can not affect the company's financial distress . And partial assay results showed Reteren Return on Assets and Earnings to Total Assets berpengaruah the company's financial distress and Variable Return on Equity , Working Capital , Profit Margin on Sales and the current ratio does not affect the company's financial distress . Keywords : Current Ratio, Financial distress Return on Assets, Profit Margin on Sales Return on Equity, Reteren Earning to Total Assets and Working Capital.

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