Analisis Pengaruh Profitabilitas, Likuiditas, Perputaran Total Aset, Struktur Modal Dan Volatilitas Laba Terhadap Prediksi Financial Distress Pada Perusahaan Sektor Properti & Real Estate Yang Terdaftar Di Bursa Efek Indonesia Periode 2019-2023

Abstract

This research aims to examine and analyze the effect of profitability, liquidity, total asset turnover, capital structure, and earnings volatility on the prediction of financial distress in property and real estate sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2019–2023. This research employs an associative approach with quantitative data obtained from the financial statements of 33 companies over five consecutive years, resulting in a total sample of 165 observations. Data analysis was conducted using multiple linear regression and processed with EViews version 13. The results indicate that, partially profitability, liquidity, total asset turnover, and capital structure each have a positive and significant effect on predictive of financial distress, indicating that higher levels of these indicators reduce the likelihood of companies experiencing financial distress. Meanwhile, capital structure has a positive but not significant effect on predictive of financial distress, suggesting that capital structure are not yet a primary factor triggering financial distress in this sector. Based on the coefficient of determination, the independent variables can explain 38,35% of the variation in financial distress. These findings imply that companies should prioritize improving profitability, liquidity, asset efficiency, and earning volatility management to minimize the risk of financial distress in the future.