PENGARUH OPERATING CAPACITY DAN SALES GROWTH TERHADAP FINANCIAL DISTRESS DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERATING

Abstract

Financial distress is the stage of a decline in financial conditions experienced by the company before the bankruptcy. This study aims to examine the effect of operating capacity and sales growth on financial distress with profitability as a moderating variable. The population in this study are property and real estate companies listed on the Indonesia Stock Exchange. The sample in this study amounted to 28 property and real estate companies during the 2013-2017 period. Sampling used a purposive sampling method. The analytical tool used in this study is multiple linear analysis and Moderated Regression Analysis (MRA). Based on the results of research conducted, the conclusion that can be drawn is that Operating Capacity has a negative and significant effect on financial distress, Sales Growth has a positive and significant effect on financial distress, Profitability is not able to moderate the effect of Operating Capacity on Financial Distress, and Profitability does not moderate the effect of Sales Growth towards Financial Distress Keywords: Operating Capacity, Sales Growth, Financial Distress, Profitability

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