DAMPAK INDIKATOR MAKROEKONOMI TERHADAP FINANCIAL DISTRESS PERIODE SEBELUM DAN PADA MASA COVID-19 di PERUSAHAAN NON-CYCLJLALS TAHUN 2017-2021

Abstract

Financial distress is a condition where the company is in a position of overall financial difficulty which can lead to bankruptcy. Financial distress is one of the most important problems in all business sectors. Currently, the issue of financial/ distress is a concern for business people because it illustrates the ability of business continuity during the Covid-19 pandemic that occurred in early 2020. This study aims to analyze the macroeconomic impact of inflation and exchange rates on the dependent variable, namely Financial distress. This study compares two periods, the period before Covid-19 (2017-2019) and the period during the Covid-19 period (2018-2021). This study uses a purposive sampling method which produces a sample of 59 non-Cyclicals companies classified as sector D listed on lDX-IC. This study uses multiple regression analysis in testing the hypothesis. The results show that macroeconomic variables proxied by inflation and exchange rates have no effect on financial distress in the period before Covid-19 (2017-2019), but inflation and exchange rates have a negative effect on financial distress during the Covid-19 period. (2018-2021).