Analiysis of Financial Distress Factors in Construction Companies Listed on the Indonesia Stock Exchange During the Covid-19 Pandemic

Ryana, Kadek Dwi Handry and Dewi, Ni Wayan Kurnia and Sumartana, I Made (2022) Analiysis of Financial Distress Factors in Construction Companies Listed on the Indonesia Stock Exchange During the Covid-19 Pandemic. Repositori Politeknik Negeri Bali.

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Abstract

The economy is growing through the contribution of one of the sectors, namely the construction sector. The existence of the Covid-19 Pandemic has caused most businesses to experience pressure. According to the Central Statistics Agency, the per-formance of construction and building companies in 2020 decreased by -3.26%, with the spread of Covid-19, several infrastruc-ture construction programs were temporarily suspended. The data used in the study is secondary data obtained from the Indonesia Stock Exchange in the form of annual financial statements to calculate financial ratios and the Alman Z-Score. Popu-lation in this study, namely construction and building sub-sector companies listed on the Indonesia Stock Exchange with sam-pling techniques using the purposive sampling method. The analysis model used in this study is multiple linear regression analysis. The results showed that statistically the return on equity had a positive and significant effect on financial distress. Current ratio has a statistically positive and significant effect on financial distress. The debt to equity ratio has a statistically positive but not significant effect on financial distress. Debt to asset ratio statistically has a negative and significant effect on financial distress. As well as the simultaneous influence of return on equity, current ratio, debt to equity ratio, and debt to asset ratio statistically have a significant effect on financial distress.

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