Pengaruh Likuiditas dan Leverage terhadap Financial Distress Menggunakan Model Grover pada Perusahaan Sektor Barang Konsumen Non-Primer yang Terdaftar di BEI Periode 2020-2025

Abstract

This study aims to determine the effect of liquidity and leverage on financial distress using the Grover model, both partially and simultaneously, on non-primary consumer goods sector companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2025 period. The method used is a quantitative approach with panel data regression analysis, processed with Eviews 14. The population consists of 164 non-primary consumer goods companies, and using the purposive sampling technique a total sample of 10 companies was obtained, namely ABBA, AKKU, BIMA, BLTZ, MYTX, PSKT, RICY, JGLE, MARI, and HRME. The results indicate that liquidity has a t-count (3.894) > t-table (2.002) with a Prob. T-Statistic of 0.0003 < 0.05, meaning that partially liquidity has a significant positive effect on financial distress, while leverage has a t-count (0.538) < t-table (2.002) with a Prob. T-Statistic of 0.5924 > 0.05, meaning that partially leverage does not have a positive and significant effect on financial distress. Simultaneously, F-count > F-table (7.987254 > 3.16) with a Prob. F-Statistic of 0.000875 < 0.05, meaning that liquidity and leverage simultaneously have a significant positive effect on financial distress.