THE FACTORS THAT INFLUENCE FINANCIAL DISTRESS WITH THE Z-SCORE APPROACH IN FOODS AND BEVERAGES COMPANIES
DOI:
https://doi.org/10.52630/jmbv.v12.i01.44Keywords:
Return on Asset , Debt to Asset Ratio, Total Asset Turnover, Sales Growth, Z-Score, Financial DistressAbstract
As a result of the Covid-19 pandemic, many corporate sectors are experiencing financial distress which can lead to bankruptcy. So it is important to carry out a risk assessment of the occurrence of financial distress in companies where in this study the Altman Z-Score assessment method is used. The purpose of this study is to provide empirical evidence about the effect of return on assets, debt-to-asset ratio, total asset turnover, and sales growth on the Z-score in foods and beverages companies. The population in this study were companies in the foods and beverages subsector that were listed on the Indonesia Stock Exchange and the samples were 10 foods and beverages companies that had carried out sample selection criteria. The data used is secondary data. The data analysis technique used is multiple linear regression assisted by the SPSS application software version 25. The results in this study indicate that: (1) Return on Assets, Debt to Asset Ratio, Total Asset Turnover, and Sales Growth simultaneously have a significant effect on the Z-Score, (2) Return on Assets partially has a significant positive effect on the Z-Score, (3) Debt to Asset Ratio partially has no effect and is not significant on the Z-Score, (4) Total Assets Turnover partially has a significant positive effect on the Z-Score, (5) Sales Growth partially has a significant negative effect on the Z-Score
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