The Effect of Leverage, Asset Structure and Sales Growth on Financial Distress in Textile and Garment Companies Listed on the Indonesia Stock Exchange in 2020-2024

Icha Amelia; Eni Wuryani

doi:10.55927/fjas.v5i3.31

Authors

Icha Amelia Universitas Negeri Surabaya
Eni Wuryani Universitas Negeri Surabaya

DOI:

https://doi.org/10.55927/fjas.v5i3.31

Keywords:

Leverage, Asset Structure, Sales Growth, Financial Distress

Abstract

The textile and apparel industry plays a vital role in the Indonesian economy through its contribution to the Gross Domestic Product (GDP) as part of the non-oil and gas manufacturing sector. The textile and apparel industry also plays a significant role in employment, given its labor-intensive nature. This study aims to analyze the influence of leverage, asset structure, and sales growth on financial distress in textile and garment companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The sampling method used purposive sampling, with a sample of 16 companies drawn from secondary data. The analysis was conducted using multiple linear regression with the assistance of SPSS Version 26 software. The results indicate that leverage has a positive effect on financial distress, asset structure has a negative effect on financial distress, while sales growth has no effect on financial distress.

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