The Effects of Total Asset Turnover, Return on Assets, And Sales Growth on Financial Distress in Food and Beverage Companies over the Period 2016-2020

Kumba Digdowiseiso, Intan Sulistia Ningrum

Abstract


The purpose of this study was to determine the effects of fundamental factors, namely Total Assets Turnover (TATO), Return on Assets (ROA), and sales growth on food and beverage sector companies during the 2016-2020 period. The population of this research is the food and beverage sector companies that remain listed on the Indonesia Stock Exchange between 2016 and 2020. Sampling was carried out by purposive sampling consisting of 30 companies. By using the STATA 16 program, the research data were analyzed using a panel data regression approach with a significance level of 0.05. This analysis showed that the ROA and sales growth variables had a positive and significant effect on financial distress. Meanwhile, TATO was not significant to financial distress.


Keywords


total asset turnover; return on assets; sales growth; financial distress

Full Text:

PDF

References


Amalia, K., & Kurniasih, A. (n.d.). Determinan Profitabilitas Perusahaan Perusahaan Sektor Makanan Dan Minuman Di Bei.

Ardiatmi, Uliva Dewi. 2014. Analisis Pengaruh Current Ratio, Debt to Equity Ratio, Total Asset Turnover, Firm Size, dan Debt Ratio dan terhadap profitabilitas (ROE) Perusahaan (Studi kasus pada perusahaan Sektor Industri Manufaktur Food & Beverage Yang Terdaftar DI BEI tahun 2008 s.d 2012). Sksipsi. Semarang: Universitas Diponegoro.

Digdowiseiso, K. (2017). Metodologi Penelitian Ekonomi dan Bisnis. Jakarta: Lembaga Penerbitan Universitas Nasional (LPU-UNAS).

Digdowiseiso, K. (2021a). Capital Expenditure and Investment on Economic Growth in West Papua Province 2015-2019. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 4(4), 9486-9497.

Digdowiseiso, K. (2021b). The Effects of Capital Adequacy Ratio, Non-Performing Loan, Loan to Deposit Ratio, and Return on Assets on Stock Prices in Banking Sector over the Period 2015–2019. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 4(4), 11286-11293.

Digdowiseiso, K., & Agustina. (2022). Pengaruh Current Ratio, Net Profit Margin, dan Debt to Equity Ratio terhadap Earning Per Share pada Perusahaan Farmasi yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2020. Syntax Literate: Jurnal Ilmiah Indonesia, 7(3), 2889-2901.

Digdowiseiso, K., & Santika, S. (2022). Pengaruh Rasio Solvabilitas, Profitabilitas, Dan Likuiditas Terhadap Pertumbuhan Laba Pada Perusahaan Pertambangan Batubara Yang Terdaftar Di Bursa Efek Indonesia Periode 2013-2020. Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan, 4(Special Issue 3), 242-252.

Digdowiseiso, K., Susilo, B., & Utami, L.S. (2022). Analisis Pengaruh Earning Per Share, Valuasi Harga Saham, dan Leverage terhadap Nilai Perusahaan pada Perusahaan Sektor Transportasi dan Logistik yang Tercatat di Bursa Efek Indonesia Periode 2015-2019. Syntax Literate: Jurnal Ilmiah Indonesia, 7(3), 2902-2915.

Fahmi, I. (2015). Pengantar Manajemen Keuangan. 1 ed. Bandung: Alfabeta

Handayani, R. D., Widiasmara, A., & Amah, N. (2019). Pengaruh Operating Capacity Dan Sales Growth Terhadap Financial Distress Dengan Profitabilitas Sebagai Variabel Moderating.

Hery. (2016). Analisis Laporan Keuangan Integrated And Comprehensive Edition. Jakarta: Gramedia Widiasarana

Hery. (2017). Riset Akutansi. Jakarta: Gramedia Widiasarana.

Ichsan, R. et al. (2021). Determinant of Sharia Bank's Financial Performance during the Covid-19 Pandemic. Budapest International Research and Critics Institute-Journal (BIRCI-Journal). P. 298-309.

Ifada, L. M., & Puspitasari, T. (2016). Analisis pengaruh rasio keuangan terhadap

Kasyim, A. R. M. (2019). "Determinan Profitabilitas Terhadap Perusahaan Industri Makanan Dan Minuman (Food And Beverages) Yang Terdaftar Di Bursa Efek Indonesia Tahun 2010-2017". In Universitas Pertamina (Vol. 01). Universitas Pertamina.

Luh, N., Widhiari, M. A., Lely, N. K., & Merkusiwati, A. (n.d.). Pengaruh Rasio Likuiditas, Leverage, Operating Capacity, Dan Sales Growth Terhadap Financial Distress.

Muflihah, I. Z. (2017). Analisis Financial Distress Perusahaan Manufaktur Di Indonesia dengan Regresi Logistik. Majalah Ekonomi, XXII(2), 254–269.

Muhani, M., Digdowiseiso, K., & Prameswari, K.M. (2022). The Effects of Sales Growth, Current Ratio, Total Asset Turnover, Debt to Asset Ratio, and Debt to Equity Ratio on the Return on Equity in Energy and Mining Companies. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 5(1), 1240-1246.

Nila, I. (2021). Pengaruh Corporate Governance, Financial Indicators, Dan Ukuran Perusahaan Terhadap Financial Distress. Competitive Jurnal Akuntansi Dan Keuangan, 5(2), 62-70.

Ratna, I. (2018). Analisis Faktor-Faktor Yang Mempengaruhi Kondisi Financial Distress Pada Perusahaan Yang Delisting Dari Jakarta Islamic Index Tahun 2012-2016. Jurnal Tabarru’ : Islamic Banking and Finance, 1(1).

Rohmadini, A., Saifi, M., & Darmawan, A. (2018). Pengaruh Profitabilitas, Likuiditas Dan Leverage Terhadap Financial Distress (Studi Pada Perusahaan Food & Beverage Yang Terdaftar Di Bursa Efek Indonesia Periode 2013-2016). In Jurnal Administrasi Bisnis (JAB)|Vol (Vol. 61, Issue 2).

Sudaryanti, D., & Dinar, A. (2019). Analisis Prediksi Kondisi Financial Distress Menggunakan Rasio Likuiditas, Profitabilitas, Financial Leverage Dan Arus Kas. Jurnal Ilmiah Bisnis Dan Ekonomi Asia, 13(2). https://doi.org/10.32812/jibeka.v13i2.120

Sukadana, I. K. A., dan Triaryati, N. (2018). "Pengaruh Pertumbuhan Penjualan, Ukuran Perusahaan, Dan Leverage Terhadap Profitabilitas Pada Perusahaan Food and Beverage Bei". E-Jurnal Manajemen Universitas Udayana, 7(11), 6239. https://doi.org/10.24843/ejmunud.2018.v07.i11.p16

Triswidjanti, M. S., & Nuzula, N. F. (2017). Implementasi O-Score Model Untuk Memprediksi Financial Distress Perusahaan (Studi pada Perusahaan Manufaktur Sub Sektor Tekstil dan Garmen yang Terdaftar di Bursa Efek Indonesia Periode 2011-2015). Jurnal Administrasi Bisnis, 50(1), 126-135.

Wibowo, A., & Susetyo, A. (2020). Analisis Pengaruh Profitabilitas, Likuiditas, Operating Capacity, Sales Growth Terhadap Kondisi Financial Distress pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2015-2018. Jurnal Ilmiah Mahasiswa Manajemen, Bisnis Dan Akuntansi (JIMMBA), 2(6). https://doi.org/10.32639/jimmba.v2i6.687




DOI: https://doi.org/10.33258/birci.v5i2.5042

Article Metrics

Abstract view : 161 times
PDF - 86 times

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

 

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.