PENGARUH STRUKTUR KEPEMILIKAN TERHADAP KEMUNGKINAN KESULITAN KEUANGAN PADA BURSA EFEK INDONESIA

Abstract

Financial distresses have strong relationships with the company’s bankruptcy. The financial distress can be predicted by using information contained in the financial statements and the company’s corporate governance mechanisms. The purpose of this study is to prove the effect of ownership structure, liquidity ratios, leverage ratios, activity ratios, and the size of the company to possible financial distress of manufacturing companies in Indonesia Stock Exchange. Populations of this study are manufacturing companies in Indonesia Stock Exchange, which are published in the financial statements from the years 2008-2012,samples of the research  are 156 financial. Data analysis uses a logistic regression .The results of this study indicate that managerial ownership significantly influence of financial distress. While institutional ownership does not significantly influence of financial distress. Liquidity ratios and activity ratios significantly influence of financial distress. While the leverage ratio and firm size had no significant effect on the financial distress. The results can be used for decision making corporate leaders and investors as well as potential investors to always attention Managerial ownership, liquidity ratio, and the ratio of the activity, because these three variables has a contribution in influencing the potential for financial distress.