RASIO PROFITABILITAS DAN POTENSI FINANCIAL DISTRESS: STUDI PADA PERUSAHAAN PERDAGANGAN RITEL DI BURSA EFEK INDONESIA
Keywords:
rasio profitabilitas, financial distress, Altman Z-Score, model Campbell-Hillscher-Szilagyi, perdagangan ritelAbstract
Penelitian ini bertujuan untuk menganalisis pengaruh rasio profitabilitas terhadap potensi kesulitan keuangan pada perusahaan-perusahaan sektor perdagangan ritel yang terdaftar di Bursa Efek Indonesia. Metode yang digunakan mengadaptasi model Campbell-Hilscher-Szilagyi (CHS) dengan Altman Z-Score sebagai variabel pembanding. Penelitian ini dilakukan dengan menyesuaikan beberapa elemen model CHS agar relevan digunakan di konteks perusahaan Indonesia. Hasil penelitian menunjukkan bahwa rasio-rasio profitabilitas memiliki hubungan yang bervariasi terhadap potensi kesulitan keuangan, baik secara langsung maupun melalui pengaruh terhadap kondisi keuangan perusahaan secara keseluruhan. Studi ini memberikan kontribusi terhadap upaya adaptasi model prediksi kesulitan keuangan global untuk digunakan di pasar domestik Indonesia.
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