EFFECT OF CURRENT RATIO, DEBT TO ASSET RATIO, AND RETURN ON ASSETS ON FINANCIAL DISTRESS IN INDONESIA STOCK EXCHANGE

This study aims to determine the effect of Current Ratio, Debt to Asset Ratio, and Return on Assets on the Financial Distress Level (Z-Score Index) on textile and garment companies listed on the Indonesia Stock Exchange in 2014 � 2018. The population is 17 textile and garment companies.The results showed the coefficient of determination in the study amounted to 89.5%, while the remaining 10.5% is explained by other variables outside the research not included in research that can affect the level of financial distress (Z-score index). The results also showed that simultaneously Current Ratio, Debt to Asset, and Return on Assets significantly influence Financial Distress (Z-Score Index). Partially Current Ratio has a significant positive effect, meaning that each increase in the value of the current ratio then the magnitude of the Zscore index value also increases so that it will reduce the level of the companys financial distress. Debt to Asset Ratio has a significant negative effect, meaning that each increase in the value of debt to assets, the amount of Z-score index value will be reduced so that it will increase the level of financial distress of the company. Return on Assets has a significant positive effect on Financial Distress (Z-Score Index), meaning that every increase in the value of return on assets affects the amount of Z-score index value also increases so that it will reduce the level of financial distress of the company.

1.  UEU-Article-14695-Jurnal - Nadia & Dihin @FEB UEU Jakarta.Image.Marked.pdf - 841 KB

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