The Effect of Sales Growth and Capital Structure on Financial Distress in Food and Beverage Sub-Sector Companies Listed on ISSI in 2021-2024
DOI:
https://doi.org/10.52465/josre.v4i2.3Abstract
This study aims to analyze the effect of sales growth and capital structure on financial distress in food and beverage sub-sector companies listed on the Indonesian Stock Exchange (ISSI) for the 2021-2024 period. This study uses a quantitative data approach with secondary data in the form of company financial reports analyzed using panel data regression with the help of Eviews version 13 software. This study used a purposive sampling technique, resulting in a sample of 35 companies and a total of 140 observations. The results show that sales growth has a significant positive effect on financial distress, as proxied by the Grover Score, while capital structure has a significant negative effect on financial distress. Simultaneously, sales growth and capital structure have a significant effect on financial distress. The conclusion of this study confirms that increasing sales growth and appropriate capital structure management play a crucial role in minimizing the risk of financial distress. The implications of these findings suggest that food and beverage sub-sector companies need to pay attention to sales performance and optimal funding policies for the company's financial stability
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