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PENGARUH MANAJEMEN LABA DAN KINERJA ESG TERHADAP FINANCIAL DISTRESS DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING (STUDI KASUS PERUSAHAAN SEKTOR CONSUMER CYLICALS YANG TERDAFTAR DI ISSI)
This study aims to examine the effect of earnings management and ESG performance on financial distress and to determine the role of financial performance in mediating the relationship between earnings management and ESG performance with financial distress. The dependent variable in this study is earnings management using the Discretionary Accrual formula value with the Jones Modified model (1991) and ESG performance measured using the ESG score with GRI Standards 2021. The independent variable is financial distress represented by the Altman Z Score. The intervening variable used is financial performance measured by the debt to asset ratio. This study uses secondary data obtained from sustainability reports and annual reports or financial reports registered with ISSI. This study uses a purposive sampling method to select samples, so that 128 samples were obtained from 64 consumer cyclicals sektor companies registered with ISSI during the 2021-2022 period as the final sample. This study uses panel data regression analysis with the softwareviews analysis tool. In addition, using the Sobel test to test the mediation effect in this study. The research findings show that earnings management has a significant negative effect on debt to asset ratio, while ESG performance does not have a significant effect on debt to asset ratio. Debt to asset ratio has a significant negative effect on financial distress, while earnings management and ESG performance have a significant positive effect on financial distress. Other findings show that debt to asset ratio mediates the relationship between earnings management and financial distress, but does not mediate the relationship between ESG performance and financial distress.
FAKULTAS EKONOMI DAN BISNIS ISLAM, UIN SUNAN KALIJAGA YOGYAKARTA
PENGARUH MANAJEMEN LABA DAN KINERJA ESG TERHADAP FINANCIAL DISTRESS DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING (STUDI KASUS PERUSAHAAN SEKTOR CONSUMER CYLICALS YANG TERDAFTAR DI ISSI) (Text)
PENGARUH MANAJEMEN LABA DAN KINERJA ESG TERHADAP FINANCIAL DISTRESS DENGAN KINERJA KEUANGAN SEBAGAI VARIABEL INTERVENING (STUDI KASUS PERUSAHAAN SEKTOR CONSUMER CYLICALS YANG TERDAFTAR DI ISSI) (Other)
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