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The Effect of Liquidity, Leverage, and Operating Capacity on Financial Distress with Managerial Ownership as a Moderating Variable

Accounting Analysis Journal · Vol. 8 No. 3 (2020) · hlm. 214–220

DOI
10.15294/aaj.v8i3.30176
ISSN
2502-6216, 2252-6765
Terbit
2020-04-08
Penerbit
Universitas Negeri Semarang
Bahasa
eng

Abstrak

This study intends to examine the effect of liquidity, leverage, and operating capacity ratio on financial distress risk with managerial ownership as moderator. The population of this study was all of the property, real estate and construction services companies listed on the IDX in 2013-2017 as many as 55 companies. This study used purposive sampling technique for the selection of samples that produced 17 companies or 68 analysis units. Moderation regression was used as analytical method in this study with SPSS 23 as the analytical tool. This research shows that liquidity does not affect on financial distress risk, while leverage and operating capacity affect on financial distress risk. Managerial ownership is able to moderate the effect of leverage ratio and operating capacity on financial distress risk, but is not able to moderate the effect of liquidity on financial distress risk. The conclusion of this study is that the financial distress risk is influenced by leverage, operating capacity, leverage moderated by managerial ownership, and operating capacity moderated by managerial ownership.

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  • State University of Semarang
  • Universitas Syiah Kuala
  • Universitas Ivet
  • Jenderal Soedirman University
  • Ministry of Religious Affairs
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  • Organisasi berbeda
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Rekan penulisOrganisasiArtikel bersama
Nina OktarinaState University of Semarang2
Ibrotul Lailatur RohmahState University of Semarang1
Tia Pipit NaovilaAfiliasi tidak diketahui1
Ajeng Rizka RiadianiAfiliasi tidak diketahui1
Rahmat SyarifullohState University of Semarang1
Rastra BuanaState University of Semarang1
Dany AriyantoState University of Semarang1
Siti Nur EndahAfiliasi tidak diketahui1
Ahmad Faris ArifianataState University of Semarang1
Fitriana FitrianaUniversitas Syiah Kuala1
Malihatus SholihahState University of Semarang1
Endang PujiatiState University of Semarang1
Vida Chusnia ChaqState University of Semarang1
Nasihotul KhosidahState University of Semarang1
Lisa PratiwiState University of Semarang1
Dini AgusmiatiState University of Semarang1
Maylia Pramono SariState University of Semarang1
Ida MaftukhahState University of Semarang1
Bestari Dwi HandayaniState University of Semarang1
Kuat Waluyo JatiState University of Semarang1
Dwi HardiyantiUniversitas Ivet1
Mungin Eddy WibowoState University of Semarang1
Haryono HaryonoState University of Semarang1
Amir MahmudState University of Semarang1
Sofyan SetiyawanAfiliasi tidak diketahui1
Jarot Tri Bowo SantosoState University of Semarang1
Ega Sih Priyantika WihartoState University of Semarang1
Sandy AriefState University of Semarang1
Fitri AprilianiState University of Semarang1
Rusdarti RusdartiState University of Semarang1
Arini Mayang FauniAfiliasi tidak diketahui1
Aldila KrisnaresantiJenderal Soedirman University1
Achmad SlametState University of Semarang1
Supriyadi SupriyadiState University of Semarang1
Amhal KaefahmiMinistry of Religious Affairs1
Najmi Diyana LathifahState University of Semarang1

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Sumber metadata: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/sju/index.php/aaj/oai, pertama di-harvest 5 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en-US">The Effect of Liquidity, Leverage, and Operating Capacity on Financial Distress with Managerial Ownership as a Moderating Variable</dc:title>
	<dc:creator>Larasati, Hanum</dc:creator>
	<dc:creator>Wahyudin, Agus</dc:creator>
	<dc:description xml:lang="en-US">This study intends to examine the effect of liquidity, leverage, and operating capacity ratio on financial distress risk with managerial ownership as moderator. The population of this study was all of the property, real estate and construction services companies listed on the IDX in 2013-2017 as many as 55 companies. This study used purposive sampling technique for the selection of samples that produced 17 companies or 68 analysis units. Moderation regression was used as analytical method in this study with SPSS 23 as the analytical tool. This research shows that liquidity does not affect on financial distress risk, while leverage and operating capacity affect on financial distress risk. Managerial ownership is able to moderate the effect of leverage ratio and operating capacity on financial distress risk, but is not able to moderate the effect of liquidity on financial distress risk. The conclusion of this study is that the financial distress risk is influenced by leverage, operating capacity, leverage moderated by managerial ownership, and operating capacity moderated by managerial ownership.</dc:description>
	<dc:publisher xml:lang="en-US">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2020-04-08</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/sju/aaj/article/view/30176</dc:identifier>
	<dc:identifier>10.15294/aaj.v8i3.30176</dc:identifier>
	<dc:source xml:lang="en-US">Accounting Analysis Journal; Vol 8 No 3 (2019): November; 214-220</dc:source>
	<dc:source>2502-6216</dc:source>
	<dc:source>2252-6765</dc:source>
	<dc:source>10.15294/aaj.v8i3</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/sju/aaj/article/view/30176/15834</dc:relation>
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