Pengaruh Corporate Governance Dan Modal Intelektual Terhadap Financial Distress Pada Perusahaan Sektor Aneka Industri Di Bursa Efek Indonesia

Financial distress is a condition where a company's finances experience a decline before liquidation occurs. Financial distress is caused by operational losses that cause negative cash flow. This study aims to determine the effect of managerial ownership, institutional ownership, the proportion of independent commissioners and intellectual capital on financial distress. The population used in this study were manufacturing companies in the various industrial sectors listed on the Indonesia Stock Exchange from 2016 to 2020. The sampling technique in this study used purposive sampling. Technical analysis of the data in this study uses binomial logistic regression which is processed using SPSS 16 software. The results of this study indicate that the variables of managerial ownership, institutional ownership and intellectual capital have an effect on financial distress, while the variable proportion of independent commissioners has no effect on financial distress. Keywords: Financial Distress, Managerial Ownership, Institutional Ownership, Proportion Of Independent Commissioner, Intellectual Capita