Wita Maharani, Imam Nazaruddin Latif, Mita Sonaria

Pengaruh Kinerja Keuangan Terhadap Financial Distress Pada Perusahaan Otomotif Di Indonesia

Introduction

Pengaruh kinerja keuangan terhadap financial distress pada perusahaan otomotif di indonesia. Analisis pengaruh ROA, Current Ratio, dan DAR terhadap financial distress perusahaan otomotif Indonesia di BEI (2021-2023). Wawasan bagi manajer dan investor.

Abstract

Industri otomotif di Indonesia menghadapi tantangan seperti fluktuasi ekonomi dan gangguan rantai pasok, yang meningkatkan risiko financial distress. Penelitian ini bertujuan untuk menganalisis pengaruh kinerja keuangan, diukur melalui Return on Asset (ROA), Current Ratio (CR), dan Debt to Asset Ratio (DAR), terhadap financial distress pada perusahaan otomotif yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2021–2023. Pendekatan kuantitatif dengan model Grover dan regresi linear berganda digunakan untuk menganalisis data laporan keuangan tahunan dari 13 perusahaan otomotif. Hasil menunjukkan bahwa ROA berpengaruh positif dan signifikan terhadap financial distress, sementara CR dan DAR tidak signifikan secara individu. Secara simultan, ketiga variabel ini berpengaruh signifikan. Penelitian ini memberikan wawasan bagi manajer keuangan untuk mengelola risiko dan bagi investor untuk menilai kesehatan finansial perusahaan otomotif.

Review

This paper, titled 'Pengaruh Kinerja Keuangan Terhadap Financial Distress Pada Perusahaan Otomotif Di Indonesia,' addresses a highly relevant issue within the Indonesian automotive sector, which faces considerable challenges from economic fluctuations and supply chain disruptions. The study aims to provide crucial insights by analyzing the impact of key financial performance indicators—Return on Asset (ROA), Current Ratio (CR), and Debt to Asset Ratio (DAR)—on financial distress among automotive companies listed on the Indonesia Stock Exchange (BEI). Covering the recent period of 2021-2023, the research seeks to offer a timely understanding of financial health determinants in this vital industry. Employing a quantitative research design, the methodology utilizes the Grover model, presumably for the assessment of financial distress, in conjunction with multiple linear regression to analyze annual financial report data. The sample for the study comprises 13 automotive companies operating within the specified timeframe. The core findings indicate a complex relationship: while ROA is reported to have a positive and significant influence on financial distress, both CR and DAR do not individually demonstrate a significant impact. Interestingly, despite the individual non-significance of CR and DAR, the three variables—ROA, CR, and DAR—collectively show a significant influence on financial distress. The research successfully contributes to the existing literature by providing empirical evidence specific to the Indonesian automotive industry. Its practical implications are clear, offering valuable insights for financial managers in risk mitigation strategies and for investors in making informed decisions regarding company financial health. However, the finding regarding ROA, where a positive and significant influence on financial distress is observed, is particularly distinctive and warrants further contextual explanation in the full paper, as it deviates from conventional expectations where higher ROA typically signifies better financial health. Additionally, while the focused scope is a strength, the relatively small sample size of 13 companies might limit the generalizability of some findings, suggesting potential avenues for future research with broader samples.

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