Pengaruh WCTO, DAR dan NPM Terhadap Financial Distress Pada Perusahaan Manufaktur Sektor Barang Konsumen Primer

Abstract

ABSTRAK
Penelitian ini bertujuan untuk menguji pengaruh Working Capital Turnover (WCTO), Debt
to Asset Ratio (DAR), dan Net Profit Margin (NPM) terhadap Financial Distress. Populasi dari
penelitian ini adalah perusahaan publik yang terdaftar di Bursa Efek Indonesia (BEI) dengan
perusahaan manufaktur sektor barang konsumen primer sebagai sampel. Metode pengambilan
sampel menggunakan metode purposive sampling. Jumlah sampel yang digunakan sebanyak 14
perusahaan manufaktur sektor barang konsumen primer yang terdaftar di Bursa Efek Indonesia
selama periode 2018-2022. Analisis data dalam penelitian ini menggunakan software Eviews 9.
Pengujian hipotesis menggunakan uji analisis koefisien korelasi, analisis regresi linear berganda, uji
signifikasi parsial dan uji simultan. Hasil dari analisis data menunjukkan bahwa secara parsial
Working Capital Turnover (WCTO) tidak memiliki pengaruh dan tidak signifikan terhadap
Financial Distress, sedangkan Debt to Asset Ratio (DAR) dan Net Profit Margin (NPM) memiliki
pengaruh dan signifikan terhadap Financial Distress. Secara simultan Working Capital Turnover
(WCTO), Debt to Assets Ratio (DAR), dan Net Profit Margin (NPM) berpengaruh dan signifikan
terhadap Financial Distress.
Kata Kunci: Working Capital Turnover (WCTO), Debt to Assets Ratio (DAR), Net Profit Margin
(NPM), Financial Distress
ABSTRACT
This study aims to examine the effect of Working Capital Turnover (WCTO), Debt to Asset
Ratio (DAR), and Net Profit Margin (NPM) on Financial Distress. The population of this study is a
public company listed on Indonesia Stock Exchange with primary consumer goods manufacturing
companies as the sample. Sampling method using purposive sampling method. Samples were
collected from 14 primary consumer goods manufacturing companies listed on Indonesia Stock
Exchange during 2018-2022 period. Data analysis in this study used Eviews 9 software. Hypothesis
testing used correlation coefficient analysis test, multiple linear regression analysis, partial
significance test and simultaneous test. The results of the data analysis show that partially Working
Capital Turnover (WCTO) has no influence and is not significant on Financial Distress, while the
Debt to Asset Ratio (DAR) and Net Profit Margin (NPM) have and significant influence on Financial
Distress. Simultaneously Working Capital Turnover (WCTO), Debt to Assets Ratio (DAR), and Net
Profit Margin (NPM) have significant and significant impact on Financial Distress.
Keywords: Working Capital Turnover (WCTO), Debt to Assets Ratio (DAR), Net Profit Margin
(NPM), Financial Distress