PENGARUH RASIO KEUANGAN DAN GOOD CORPORATE GOVERNANCE TERHADAP FINANCIAL DISTRESS PADA PERUSAHAAN SEKTOR NON-KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2011-2015
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Abstract
Penelitian ini bertujuan untuk menganalisis pengaruh rasio keuangan dan good corporate governance (GCG) terhadap financial distress. Penelitian ini juga bertujuan untuk membuat model prediksi kebangkrutan dengan menggunakan data historis dari perusahaan sektor non-keuangan yang terdaftar di Bursa Efek Indonesia (BEI) pada periode 2011-2015. Penelitian ini menggunakan pendekatan kuantitatif dengan menggunakan regresi logistik. Sampel akhir yang digunakan dalam penelitian ini adalah 298 perusahaan dengan 1490 observasi. Temuan penelitian menunjukkan bahwa cash to total asset, current liabilities to total asset, inventory to working capital, sales to total asset, net income to total asset, earnings before interest and taxes to total asset, retained earnings to total asset, book-to-market value dari kategori rasio keuangan dan director ownership, number of director, independent commissioner dari kategori good corporate governance dimasukkan ke dalam model. Meskipun tidak semua variabel yang dimasukkan ke dalam model adalah signifikan, variabel yang tidak signifikan masih tetap berada dalam model untuk meningkatkan akurasi model prediksi. Hasil penelitian menunjukkan bahwa akurasi dari model prediksi kebangkrutan ini adalah 99,4%.
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