Pengaruh Institutional Ownership, Capital Intensity, Dan Ketidakpastian Lingkungan Terhadap Financial Distress (Studi Kasus Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2018–2022)
Abstract
The company needs to maintain stability and business sustainability to compete in the business world and avoid the possibility of financial distress. This research aims to identify and analyze the influence of institutional ownership, capital intensity, and environmental uncertainty on financial distress in manufacturing companies listed on the Indonesia Stock Exchange for the period 2018–2022. The population in this study consists of 225 manufacturing companies listed on the Indonesia Stock Exchange during the period 2018–2022. The sampling technique used is purposive sampling with a total sample of 140 companies and a 5-year observation period, resulting in a total of 700 samples. The data analysis technique employed is multiple linear regression analysis. The results of this study conclude that, partially, institutional ownership and environmental uncertainty do not affect financial distress, while capital intensity has a significant negative impact on financial distress. Simultaneously, institutional ownership, capital intensity, and environmental uncertainty do not affect financial distress.
Keywords: Institutional Ownership, Capital Intensity, Environmental Uncertainty, Financial Distress
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Anandy, Y., Suryani, E., & Tara, N. A. A. (2022). Analisis Financial Distress Menggunakan Metode Altman Z-Score Modifikasi pada Perusahaan Transportasi Periode 2016-2020. Unram Management Review, 2(1), 74–88. http://urgentrev.unram.ac.id/index.php/Identification/article/view/157
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Aprisma, R., & Sudaryati, E. (2018). Environmental Uncertainty and Firm Performance: The Moderating Role of Corporate Governance. XXIV(02), 187–203. http://ejournal-s1.undip.ac.id/index.php/accounting
Ardiansyah, A., & Wahidahwati. (2020). Analisis Likuiditas, Leverage, Arus Kas dan Kepemilīkan Institusional Terhadap Financial Distress. Jurnal Ilmu Dan Riset Akuntansi, 9(8). http://jurnalmahasiswa.stiesia.ac.id/index.php/jira/article/view/3605
Azalia, V. (2019). Pengaruh Leverage, Likuiditas, Profitabilitas, dan Ukuran Perusahaan terhadap Financial Distress. Jurnal Ilmu Dan Riset Akuntansi, 8(6). http://jurnalmahasiswa.stiesia.ac.id/index.php/jira/article/view/2094/2099
Bachtiar, A., & Handayani, N. (2022). Pengaruh Profitabilitas, Leverage, Capital Intensity, dan Arus Kas Operasi Terhadap Financial Distress. Jurnal Ilmu Dan Riset Akuntansi, 11(1), 1–19. http://jurnalmahasiswa.stiesia.ac.id/index.php/jira/article/view/4445
Chantika, R. R. D., & Rosadi, V. J. D. (2023). Pengaruh Gender Diversity, Expertise Diversity, CEO Duality, dan Board Size terhadap Prediksi Financial Distress. 23(3), 3328–3333. https://doi.org/10.33087/jiubj.v23i3.3972
Chytia, & Pradana, B. L. (2021). Analisis Pengaruh Capital Intensity, Kepemilikan Institusional, Debt To Asset Ratio (DAR) dan Return on Assets (ROA) Terhadap Effective Tax Rate (ETR) Pada Perusahaan Sektor Properti Utama Yang Terdaftar Di Bei Periode 2016 -2019. Jurnal Bina Akuntansi, 8(1), 1–21. https://doi.org/10.52859/jba.v8i1.132
Fransisca, A., Yenni, & Lilia, W. (2021). Pengaruh Dewan Direksi, Komite Audit, Kepemilikan Manajerial, dan Kepemilikan Institusional terhadap Financial Distress pada Perusahaan Sektor Industri Dasar dan Kimia yang Terdaftar di Bursa Efek Indonesia 2016-2019. Jurnal Ilmiah Indonesia, 1(April), 328–340. https://journal.unesa.ac.id/index.php/jim/article/view/8953/pdf
Freeman, R. E. (1984). Strategic management: a stakeholder approach. Pitman.
Ghozali, I. (2018). Aplikasi Multivariate dengan Program IBM SPSS 25. Badan Penerbit Universitas Diponegoro.
Ghozali, I. (2020). 25 Grand Theory : 25 Teori Besar Ilmu Manajemen, Akuntansi dan Bisnis. Yoga Pratama.
Idarti, & Hasanah, A. (2018). Analisis Pengaruh Struktur Kepemilikan, Kebijakan Hutang, dan Likuiditas terhadap Financial distress (Studi Empiris pada Perusahaan Properti dan Real estate yang Terdaftar di Bursa Efek Indonesia Periode 2013-2017). Journal Of Applied Managerial Accounting, 2(2), 160–178. https://doi.org/https://doi.org/10.30871/jama.v2i2.863
Ilmy, N., Mus, A. R., & Ahmad, H. (2021). Pengaruh Sistem Akuntansi Manajemen dan Ketidakpastian Lingkungan terhadap Kinerja Manajerial pada PT. Adira Dinamika Multi Finance Tbk Kantor Cabang Jayapura. Jurnal Ilmu Akuntansi, 3(1), 129–144. https://journal.unismuh.ac.id/index.php/invoice/article/view/4977
Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm : Managerial Behavior , Agency Costs and Ownership Structure Theory of the Firm : Managerial Behavior , Agency Costs and Ownership Structure. Journal of Financial Economics, 3(4), 305–360. http://hupress.harvard.edu/catalog/JENTHF.html
Mulansari, R., & Setiyorini, W. (2019). Pengaruh Good Corporate Governance dan Financial Indicators terhadap Financial Distress pada Perusahaan Property dan Real Estate. 5(2), 115–126. http://jurnal.unmer.ac.id/index.php/ap
Ningsih, S., Husnan, L. H., & Suryani, E. (2021). Pengaruh makroekonomi terhadap harga saham dengan financial distress sebagai variabel mediasi: Studi kasus pada kondisi pandemi COVID-19. Jurnal EMBA, 9(2), 1206–1218.
Oktaviani, D. A., & Nurdin. (2020). Pengaruh Cash Flow Pattern, Debt to Total Assets Ratio, dan Institutional Ownership terhadap Financial Distress. Prosiding Manajemen, 6(1), 104–109. https://karyailmiah.unisba.ac.id/index.php/manajemen/article/view/19748/pdf
Otley, D. T. (1980). The contingency theory of management accounting: Achievement and prognosis. Management Control Theory, 5(4). https://doi.org/10.1007/978-1-4899-7138-8_5
Paramita, R. W. D., Rizal, N., & Sulistyan, R. B. (2021). Metode Penelitian Kuantitatif (Ketiga). Widyagama Press.
Pratama, A. (2021). Pengantar Pelaporan Korporat Kontemporer (1st ed.). Prenada Media. https://www.google.co.id/books/edition/Pengantar_Pelaporan_Korporat_Kontemporer/yv08EAAAQBAJ?hl=id&gbpv=1
Putri, T. E., Mulyati, S., & Nurbayanti, A. (2021). Pengaruh Profitabilitas, Likuiditas, Leverage, dan Real Interest Rate Terhadap Financial Distress (Studi Perusahaan Sektor Aneka Industri yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2017-2019). Journal of Accounting for Sustainable Society, 03(01), 94–112. https://ojs.stiesa.ac.id/index.php/accruals/index
Ramadhanti, N. C., & Subagyo. (2022). Pengaruh Corporate Governance, Cash Flow, dan Profit Terhadap Financial Distress Perusahaan Manufatur di Bursa Efek Indonesia. Trilogi Accounting and Business Research, 03(01), 13–33. http://trilogi.ac.id/journal/ks/index.php/TABR/article/view/1218/pdf
Samudra, G. D. (2021). Gender Diversity dan Good Corporate Governance terhadap Financial Distress. 8(2), 52–60.
Ulaya, D., & Nurfauziah. (2022). Faktor Makroekonomi dan Kinerja Keuangan dalam Memprediksi Financial Distress. Selekta Manajemen: Jurnal Mahasiswa Bisnis & Manajemen, 01(02), 62–77. https://journal.uii.ac.id/selma/article/view/24053/13778
Utami, Y. Z., & Taqwa, S. (2023). Pengaruh Leverage, Ukuran Perusahaan, Pertumbuhan Penjualan, Kepemilikan Manajerial, dan Kepemilikan Institusional Terhadap Financial Distress. Jurnal Eksplorasi Akuntansi (JEA), 5(2), 539–552. http://jea.ppj.unp.ac.id/index.php/jea/article/view/720
Wijaya, J., & Suhendah, R. (2023). Pengaruh Likuiditas , Leverage , Dan Arus Kas Terhadap Financial Distress. 28(02), 177–196. http://dx.doi.org/10.24912/je.v28i2.1468
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2024-02-03
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