Analisis Pengaruh Free Cash Flow (FCF), Long Term Debt to Assets Ratio (LTDAR) dan Biaya Marketing Terhadap Financial Distress dengan Income Per Capita sebagai Variabel Moderating

Abstract

This study aims to determine the Analysis of the Effect of Free Cash Flow, Long Term Debt to Asset Ratio (LTDAR) and Marketing Costs on Financial Distress with Income Per Capita as a moderating variable. The population in this study are hotel, restaurant and tourism sub-sector companies listed on the Indonesia Stock Exchange (IDX) in 2017-2020. Sampling in this study is using a proposive sampling technique, namely the technique of determining the sample based on certain criteria. So that the sample used is 16 companies. This study uses panel data regression analysis techniques with data processing tools, namely Eviews version 10. So the results of this study conclude that free cash flow, long term debt to asset ratio and marketing costs partially and simultaneously have a significant effect on financial distress. While the results of the interaction test concluded that partially and simultaneously income per capita was unable to moderate the relationship between free cash flow, long term debt to asset ratio, while income per capita was able to moderate the relationship between marketing costs and financial distress.