Open AccessPREDIKSI FINANCIAL DISTRESS DENGAN RASIO ARUS KAS
Author(s) -
Yolanda Puspita Sari,
Mudji Utami
Publication year - 2009
Publication title -
manajemen dan bisnis/manajemen dan bisnis
Language(s) - English
Resource type - Journals
eISSN - 2477-1783
pISSN - 1412-3789
DOI - 10.24123/jmb.v8i2.148
Subject(s) - cash flow , financial distress , business , predictability , financial ratio , stock exchange , operating cash flow , distress , logistic regression , financial system , finance , psychology , statistics , mathematics , psychotherapist
This research examine financial ratio of cash flow to predict financial distress. This research argues cash flow ratios have an effect on financial distress condition especially for Indonesian firm. There are 13 cash flow ratios from 17 listed manufacturing firms in Indonesia Stock Exchange (IDX). Period of analysis is 1999-2005. The classification of financial distress firm based on Almilia (2006) that divide firm which financial distress has a negative net income and net equity for 2 years consecutively. This research uses logistic regression to conclude the predictability power of research model. Result shows cash flow ratios have a significance affect on financial distress, such ratios are CFFOTA, CFFOS, IPPEPPE, CHWCTU, RPPETS, DITS and NetdebtTS.