Pengaruh Financial Distress Terhadap Corporate Sustainability Performance, Kinerja Keuangan, dan Kinerja Pasar

Firginia Mega Sari; Marhaendra Kusuma; Imarotus Suaidah

doi:10.37479/jeej.v7i2.30860

Pengaruh Financial Distress Terhadap Corporate Sustainability Performance, Kinerja Keuangan, dan Kinerja Pasar

Firginia Mega Sari, Marhaendra Kusuma, Imarotus Suaidah

Abstract

This study aims to examine the influence of financial distress on Corporate Sustainability Performance (CSP), financial performance, and company performance in manufacturing companies listed on the IDX during the 2021-2023 period. The sample of this study was taken using the purposive sampling technique, resulting in 22 companies with a total of 66 data. The data analyzed is secondary data, with a descriptive statistical approach with a multiple linear analysis on SPSS. The results of the analysis indicate that financial distress has a significant positive impact on financial performance. Meanwhile, the negative influence of company size on financial performance was also successfully identified. However, financial distress does not have a significant influence on Corporate Sustainability Performance or market performance. This shows that the increase in the level of Financial Distress is actually related to the improvement of financial performance, but it is necessary to pay attention to the negative influence of the company's size because it can reduce financial performance.

Keywords

Financial Distress; Corporate Sustainability Performance; Kinerja Keuangan; Kinerja Pasar

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DOI: https://doi.org/10.37479/jeej.v7i2.30860