Pengaruh Operating Capacity Dan Sales Growth Terhadap Financial Distress Pada Perusahaan Manufaktur Subsektor Tekstil Yang Terdaftar Di Bursa Efek Indonesia Periode 2019-2022

Abstract

The bankruptcy faced by state-owned textile companies stems from a decline in company performance, as indicated by inadequate capital, high levels of debt, and interest burdens. The main issue lies in the inability to repay debts, commonly known as default. The primary question addressed in this study concerns whether operational capacity (X1) impacts financial distress (Y) in manufacturing companies within the textile sub-sector listed on the Indonesia Stock Exchange from 2019 to 2022, and whether sales growth (X2) affects financial distress (Y) in the same group of companies over the same period. This study covers a total of 21 companies, with purposive sampling yielding 17 samples and 68 data points. Analytical techniques used include descriptive analysis, data quality assessment, classical assumption testing, multiple linear regression analysis, t-test, and determination analysis. The findings concluded that operational capacity has a negative and statistically significant impact on financial distress in manufacturing companies within the textile sub-sector listed on the Indonesia Stock Exchange from 2019 to 2022. Additionally, sales growth also shows a negative and significant influence on financial distress among the same group of companies during the same period