The Influence of Intellectual Capital, and Liquidity on Financial Distress Moderated by Profitability in Retail Companies Listed On Indonesia Stock Exchange in 2018-2022
DOI:
https://doi.org/10.32528/issh.v2i3.397Keywords:
Intellectual Capital, Liquidity, Financial Distress, ProfitabilityAbstract
In the last five months of 2022, there will be a decrease in sales growth in retail companies due to a decrease in public loyalty to retail businesses and the high level of online-based business offers. The goal of the study is to ascertain how intellectual capital and liquidity affect financial distress which are moderated by profitability in retail companies listed on the Indonesian Stock Exchange for the years 2018 to 2022. This study uses associative research with a quantitative approach. The population incorporated within this study were of 23 retail companies that have been and are still listed on the Indonesia Stock Exchange. The sampling technique used was purposive sampling and a sample of 13 companies was obtained. The financial distress method used is the Altman Z-Score method. The data analysis method employed is multiple linear regression and moderating regression analysis (MRA) using Eviews software version 10. The results showed that partially the intellectual capital variable had a negative effect on financial distress, liquidity had a positive effect on financial distress. Profitability is able to moderate the relationship between intellectual capital and financial distress. Meanwhile, profitability is not able to moderate the relationship between liquidity and financial distress.
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