Analisis CEO Overconfidence Terhadap Financial Distress Pada Perusahaan Produsen Minyak dan Gas Yang Terdaftar di London Stock Exchange Group Periode 2018-2022
DOI:
https://doi.org/10.38035/jafm.v6i5.2731Keywords:
CEO Overconfidence, Overinvestment, Debt Equity Ratio, Dividend, Financial DistressAbstract
Penelitian ini bertujuan guna mengetahui pengaruh CEO overconfidence terhadap financial distress. Metode kuantitatif asosiatif dipergunakan untuk meneliti 45 perusahaan produsen minyak dan gas yang terdaftar di London Stock Exchange Group serta memiliki Environment Social Government High Risk pada Sustainalytics Morningstar periode 2018-2022. Data yang digunakan adalah data sekunder berupa laporan keuangan setiap perusahaan dengan menggunakan Eviews 13 sebagai alat bantu guna menguji regresi data panel. Hasil penelitian menunjukkan bahwa CEO overconfidence dengan proksi overinvestment berpengaruh negatif signifikan terhadap financial distress, sedangkan pada proksi debt equity ratio dan dividen tidak berpengaruh terhadap financial distress. Temuan ini menunjukkan bahwa semakin rendah tingkat investasi suatu perusahaan semakin membuka peluang terjadinya financial distress, namun jika suatu perusahaan semakin meningkatkan penanaman investasi dan ekspansi maka perusahaan terhindar dari financial distress.
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