The Effects of Liquidity, Leverage, Profitability, Activity and Corporate Social Responsibility on Financial Distress (A Study of The Healthcare Sector Listed on The Indonesia Stock Exchange From 2020 To 2024)
DOI:
https://doi.org/10.59890/ijsas.v4i10.80Keywords:
Liquidity, Leverage, Profitability, Activity, Corporate Social Responsibility, Financial Distress, Altman Z-ScoresAbstract
This study aims to determine the effects of liquidity, leverage, profitability, and Corporate Social Responsibility (CSR) on financial distress. The research design use is causality research. The population use in this study are healthcare sector companies listed on the Indonesia Stock Exchange (IDX) in 2020-2024, totalling 8 companies in accordance with predetermined characteristics. The sample selection in this study use the saturated sample method and obtained 8 companies. The data analysis method use in this study is panel data regression analysis. The program or software use is Eviews 13. The study’s findings indicate that profitability, as proxied by Return on Assets (ROA), has a significant positives effects on financial distress. Meanswhile, liquidity, as proxied by the Currents Ratios (ROA), leverage, as proxied by the Debt-to-Asset Ratios (DAR), Total Asset Turnover (TATO), and the environmental dimension of Corporate Social Responsibility (CSR) do not have an effect on financial distress. This research is expected to contribute to corporate management in financial decision-making and serve as a consideratiosn for investors in evaluating companies before making investments.
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