Faktor-Faktor Yang Mempengaruhi Keberhasilan Corporate Turnaround Pada Perusahaan Manufaktur Yang Mengalami Financial Distress

Corporate turnaround is a process of carrying out a poor performance situation in a situation of good sustained performance. The phenomenon in the current research is in manufacturing companies that experience financial distress conditions which can then rise again in normal conditions. This study aims to analyze the influence of Severity, Downsizing, CEO Turnover, Firm Size and Free Assets on the Success of Corporate Turnaround. This research includes quantitative research using logistic regression tests. The tests carried out in this study used a fit model test, hosmer and lemeshow’s goodness of fit test, nagelkerke R2 test, G-test and Wald test using SPSS version 24. The population of this study was 154 manufacturing companies listed on the Indonesia Stock Exchange 2012-2017. Based on purposive sampling criteria, 59 companies were selected as the sample of this study. Partially, the Wald test results show that severity and free assets affect the ability of the company to successfully conduct corporate turnaround, while downsizing, CEO turnover and firm size do not affect the ability of the company to successfully conduct corporate turnaround. Simultaneously, the results of the G test show that severity, downsizing, CEO turnover, firm size and free assets affect the ability of the company to successfully conduct corporate turnaround. Keyword : Severity, Downsizing, CEO Turnover, Firm Size, Free Assets, Corporate Turnaround