DOI of the published article https://doi.org/10.21070/ijler.v19i0.905
The Role of Profitability in Moderating the Determinants of Financial Distress (A Study on Retail Trade Sub-Sector Companies Listed on the IDX in 2017-2021)
Peran Profitability Dalam Memoderasi Determinan Financial Distress (Studi pada Perusahaan Sub Sektor Perdagangan Eceran yang Terdaftar di BEI Tahun 2017-2021)
DOI:
https://doi.org/10.21070/ups.488Keywords:
Financial Distress, Institutional Ownership, Leverage, Profitability, Sales GrowthAbstract
This study aims to investigate the ability of profitability to moderae the effect of leverage, sales growth, also institutional ownership on financial distress. Debt to Assets Ratio proxies leverage, and financial distress operationalize by the modified Altman z-score. This study employs numerical or quantitative analysis, examining secondary data consisting of financial statements of Retail Trade Subsector Companies listed on the Indonesia Stock Exchange circa 2017 and 2021. The sample selection uses purposive sampling technique and consists of 18 sample companies.The statistical analysis employs the Smart Partial Least Square 3.2.7 program. Results reveal that leverage has an impact on financial distress, while sales growth and institutional ownership do not affect financial distress. Profitability unable to moderate the interaction among leverage and sales growth on financial distress. On the other hand, the results do support the moderating role of profitability on the relationship among institutional ownership and financial distress.
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