THE EFFECT OF LEVERAGE, OPERATING CASH FLOW, AND GOOD CORPORATE GOVERNANCE ON FINANCIAL DISTRESS IN INFRASTRUCTURES COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE (IDX) FOR THE PERIOD 2020–2024

Putri Dewi Nabila, Liliek Nur Sulistiyowati, Ririh Anggraini Setyahety

Abstract


This study is a quantitative study using an associative-causal approach. The data used are secondary data from companies’ annual financial reports obtained via www.idx.co.id, with the population consisting of infrastructure companies listed on the Indonesia Stock Exchange (IDX) for the 2020–2024 period. The sampling technique employed purposive sampling, resulting in a sample of 52 companies with 260 data observations. The analysis method used was panel data regression with the assistance of EViews 14 software. The results of the panel data regression test indicate that, simultaneously, leverage, operating cash flow, independent commissioners, the audit committee, and the board of directors have a significant effect on financial distress. Partially, operating cash flow has a significant positive effect on financial distress, while leverage, independent commissioners, the audit committee, and the board of directors have no effect on financial distress.

Keywords: Leverage, operating cash flow, independent commissioners, audit committee, board of directors, financial distress


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References


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