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primary topic: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS

PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS
type: Thesis
type: Article
abstract: Financial distress poses a serious threat to business continuity, particularly for non-financial sector companies that were significantly impacted during the post-Covid-19 pandemic period. In response to such conditions, companies are required to implement corporate turnaround strategies to restore performance and avoid potential bankruptcy. These strategies may involve cost efficiency (expense retrenchment), reduction of unproductive assets (asset retrenchment), and capital structure management as reflected through leverage. This study aims to analyze the effect of expense retrenchment, asset retrenchment, and leverage on the success of corporate turnaround in non-financial sector companies experiencing financial distress and listed on the Indonesia Stock Exchange during the period 2018–2023. The sample was selected using a purposive sampling method, resulting in 69 companies with 414 observations that met the financial distress criteria based on the Altman Z''-Score model. Data were analyzed using probit regression with the aid of STATA 17 software. The findings show that asset retrenchment has a positive effect on the success of corporate turnaround, while leverage has a negative effect. Meanwhile, expense retrenchment does not show a significant influence. These results suggest that divesting unproductive assets and managing capital structure play an important role in the recovery process, whereas cost-cutting strategies may not always be effective. The study also includes firm size as a control variabel, revealing that larger firms tend to have a lower likelihood of recovering from financial distress, as indicated by the negative effect on corporate turnaround success.
date: 2025-06-10
status: published
author list: authors
type: EPrint
type: ThesisEPrint
is part of: repository
has document: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
has version: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
has published: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
has document: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Other)
subject: 657.42 Akuntansi

PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
type: Document
has file: 21108040022_BAB-I_IV-atau-V_DAFTAR-PUSTAKA.pdf
has part: 21108040022_BAB-I_IV-atau-V_DAFTAR-PUSTAKA.pdf

PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
type: Document

UIN SUNAN KALIJAGA YOGYAKARTA
type: Organization

FAKULTAS EKONOMI DAN BISNIS ISLAM, UIN SUNAN KALIJAGA YOGYAKARTA
type: Organization

NIM.: 21108040022 Nidya Zati Hanani
type: Person
given name: NIM.: 21108040022
family name: Nidya Zati Hanani

PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Other)
type: Document
is version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
is volatile version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
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PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Other)
type: Document
is version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
is volatile version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
ispreview thumbnail version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)

PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Other)
type: Document
is version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
is volatile version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
ismedium thumbnail version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)

PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Other)
type: Document
is version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
is volatile version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
issmall thumbnail version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)

PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Other)
type: Document
is version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
is volatile version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
islightbox thumbnail version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
has file: lightbox.jpg
has part: lightbox.jpg

PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Other)
type: Document
is version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
is volatile version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
ispreview thumbnail version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
has file: preview.jpg
has part: preview.jpg

PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Other)
type: Document
is version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
is volatile version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
ismedium thumbnail version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
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has part: medium.jpg

PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Other)
type: Document
is version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
is volatile version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
issmall thumbnail version of: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS (Text)
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primary topic: PENGARUH EXPENSE RETRENCHMENT, ASSET RETRENCHMENT, DAN LEVERAGE TERHADAP KEBERHASILAN CORPORATE TURNAROUND PADA PERUSAHAAN YANG MENGALAMI FINANCIAL DISTRESS

657.42 Akuntansi
type: Concept