Cash Flow, Sales Growth, Firm Size and Solvability on Financial Distress

Sando Kalferi; Wiralestari; Lutfi

doi:10.55927/mudima.v6i4.39

Authors

Sando Kalferi Universitas Jambi
Wiralestari Universitas Jambi
Lutfi Universitas Jambi

DOI:

https://doi.org/10.55927/mudima.v6i4.39

Keywords:

Cash Flow, Sales Growth, Firm Size, Solvability, Financial Distress

Abstract

This study is intended to analyze the influence of cash flow, sales growth, firm size, and solvency on financial distress in companies in the consumer cyclical sector listed on the Indonesia Stock Exchange during the 2022–2024 period. The approach applied is quantitative, using secondary data from the financial statements of these companies. The selected sample includes 82 companies. The condition of financial distress is measured using the Zmijewski model and tested using multiple linear regression techniques. The research findings indicate that, partially, cash flow has a significant negative effect on financial distress, while sales growth has a significant positive effect, and firm size and solvency do not show an effect on financial distress. Furthermore, overall (simultaneously), these four independent variables affect financial distress

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