The Role of Exchange Rate Adjustments: Profitability and Liquidity in Financial Security
DOI:
https://doi.org/10.32528/issh.v2i3.416Keywords:
Financial Distress, profitability, liquidity, exchange rates.Abstract
The purpose of this study is to determine the impact of profitability and liquidity on financial distress, with the 2021 exchange rate as a moderator. The population of this study is transport companies that will be listed on the Indonesia Stock Exchange (IDX) in 2021. Sampling This technique uses non-probabilistic and directed sampling techniques. Based on specified criteria, 38 companies were identified. The type of data used is secondary data obtained from the official website of the Indonesia Stock Exchange. In this study, we use partial linear regression analysis (Partial Least Squares or PLS) to test the hypotheses proposed in the SmarPLS 4 software. The results of this study suggest that. 1). Profitability has a big impact on financial emergencies. 2). Liquidity does not have a significant impact on financial difficulties. 3). Exchange rates as a moderating factor in this study cannot mitigate the impact of profitability on economic hardships. Four). The exchange rate as a moderating factor in this study cannot mitigate the impact of liquidity on financial distress. At the same time, liquidity and exchange rates cannot soften the relationship between profitability and liquidity in financial distress.
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