The Influence of Profitability, Leverage, Cash Flow Ratio, and Firm Size on Financial Distress with Capital Structure as a Moderating Variable
Pengaruh Profitabilitas, Leverage, Rasio Arus Kas, dan Ukuran Perusahaan terhadap Financial Distress dengan Struktur Modal Sebagai Variabel Moderasi
DOI:
https://doi.org/10.21070/ups.9416Keywords:
Profitability, Leverage, Cash Flow Ratio, Firm Size, Financial DistressAbstract
This study aims to analyze the influence of profitability, leverage, cash flow ratio, and firm size on financial distress with capital structure as a moderating variable. The research was conducted on textile and garment sub-sector companies listed on the Indonesia Stock Exchange (IDX). Data analysis was performed using the Partial Least Squares method. The results of this study indicate that: (1) Profitability has an effect on financial distress, (2) Leverage has no effect on financial distress, (3) Cash flow ratio has an effect on financial distress, (4) Firm size has no effect on financial distress, (5) Capital structure does not moderate the relationship between profitability and financial distress, (6) Capital structure moderate the relationship between leverage and financial distress, (7) Capital structure does not moderate the relationship between cash flow ratio and financial distress, (8) Capital structure does not moderate the relationship between firm size and financial distress.
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