Determinasi Financial Distress Pada Industri Tekstil Dan Garmen Pasca Pandemi di Bursa Efek Indonesia

Abstract

Tujuan Penelitian: Penelitian ini bertujuan untuk menganalisis pengaruh likuiditas, solvabilitas, dan profitabilitas terhadap financial distress pada perusahaan tekstil dan garmen yang terdaftar di Bursa Efek Indonesia periode 2020–2024.

Metode Penelitian: Penelitian menggunakan pendekatan kuantitatif dengan data sekunder berupa laporan keuangan. Sampel penelitian terdiri dari 8 perusahaan dengan 40 observasi yang dipilih menggunakan teknik purposive sampling. Analisis data dilakukan menggunakan regresi linier berganda disertai uji asumsi klasik, uji F, uji t, dan koefisien determinasi.

Originalitas/Novelty: Kebaruan penelitian ini terletak pada fokus kajian industri tekstil dan garmen pascapandemi Covid-19 dengan mengombinasikan rasio likuiditas, solvabilitas, dan profitabilitas dalam menjelaskan financial distress pada periode krisis dan pemulihan industri.

Hasil Penelitian: Hasil penelitian menunjukkan bahwa likuiditas, solvabilitas, dan profitabilitas secara simultan berpengaruh terhadap financial distress. Secara parsial, solvabilitas berpengaruh signifikan terhadap financial distress, sedangkan likuiditas dan profitabilitas tidak berpengaruh signifikan.

Implikasi: Penelitian ini menegaskan pentingnya pengelolaan struktur modal yang sehat untuk menekan risiko financial distress serta menjadi bahan pertimbangan bagi manajemen dan investor dalam pengambilan keputusan.

Research Objective: This study aims to analyze the influence of liquidity, solvency, and profitability on financial distress in textile and garment companies listed on the Indonesia Stock Exchange for the 2020–2024 period.

Research Method: The study employed a quantitative approach with secondary data in the form of financial reports. The sample consisted of eight companies with 40 observations selected using a purposive sampling technique. Data analysis was conducted using multiple linear regression, accompanied by classical assumption tests, F-tests, t-tests, and coefficients of determination.

Originality/Novelty: The novelty of this study lies in its focus on the post-COVID-19 pandemic textile and garment industry, combining liquidity, solvency, and profitability ratios to explain financial distress during the crisis and recovery periods.

Research Results: The results indicate that liquidity, solvency, and profitability simultaneously influence financial distress. Partially, solvency has a significant effect on financial distress, while liquidity and profitability have no significant effect.

Implications: This study emphasizes the importance of managing a healthy capital structure to mitigate the risk of financial distress and serves as a consideration for management and investors in decision-making.