THE IMPACT OF LEVERAGE, SALES GROWTH, AND ACTIVITY RATIO ON FINANCIAL DISTRESS WITH PROFITABILITY AS MODERATING VARIABLE IN FOOD AND BEVERAGE COMPANIES THAT LISTED ON INDONESIA STOCK EXCHANGE

Abstract

This study aims to analyze the effect of leverage, sales growth and activity ratio on financial difficulties in food and beverage companies listed on the Indonesia Stock Exchange by using profitability as a moderation variable. The population in this study is 84 property and real estate companies listed on the IDX for the 2018-2022 period and the sample in this study based on the purposive sampling technique is 25. The analysis method used in this study is multiple linear regression. The results of the analysis in this study found that leverage has a negative and significant effect on financial distress. Sales growth has a positive and significant effect on financial distress. Meanwhile, ratio activities measured using inventory turnover have no effect on financial distress. In this study, profitability is further studied as a moderation variable. Profitability can moderate between the variables of leverage, sales growth and activity ratio to financial distress.

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