PENGARUH LIKUIDITAS, LEVERAGE, DAN PROFITABILITAS TERHADAP FINANCIAL DISTRESS DENGAN ARUS KAS OPERASI SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN SEKTOR PERTAMBANGAN DALAM KATEGORI INDEKS SAHAM SYARIAH INDONESIA (ISSI) TAHUN 2015-2019

Financial distress is a condition of financial difficulties in the company prior to bankruptcy. Managers and capital owners do not expect their company to experience financial distress. The purpose of this study was to examine the effect of liquidity, leverage and profitability on financial distress with operating cash flow as a moderating variable. The population of this research is mining sector companies that are included in the category of Indonesian Sharia Stock Index (ISSI) in 2015-2019. The analysis used was ordinal logistic regression analysis, moderated regression analysis, and sub-group analysis. The results of this study are liquidity and profitability have a significant negative effect on financial distress. Leverage has a significant positive effect on financial distress. Operating cash flow can moderate (weaken) the effect of leverage on financial distress. Operating cash flow cannot moderate the effect of liquidity and profitability on financial distress