Corporate Governance, Corporate Reputation dan Growth Opportunities terhadap Financial Distress dengan Available Slack sebagai Pemoderasi
DOI:
https://doi.org/10.38035/jafm.v7i2.3295Keywords:
Available Slack, Corporate Governance, Corporate Reputation, Financial Distress, Growth OpportunitiesAbstract
Ketidakpastian ekonomi global yang ditandai oleh meningkatnya suku bunga, volatilitas pasar, dan melemahnya permintaan pascapandemi telah memberikan tantangan signifikan bagi perusahaan di Indonesia terutama subsektor F&B yang rentan terhadap fluktuasi harga bahan baku serta beban operasional. Ditengah kondisi tersebut, hasil penelitian empiris mengenai corporate governance, corporate reputation, growth opportunities dalam kaitannya dengan financial distress masih menunjukkan hasil yang belum konsisten. Di sisi lain, kajian yang menempatkan available slack sebagai pemoderasi dalam hubungan tersebut masih jarang. Penelitian ini bertujuan untuk menganalisis sejauh mana pengaruh corporate governance yang diukur dengan dewan direksi, dewan komisaris dan komite audit, serta corporate reputation dan growth opportunities terhadap financial distress, dengan available slack sebagai pemoderasi. Dengan memanfaatkan 231 observasi dari perusahaan F&B yang tercatat di BEI selama periode 2022–2024, analisis dilakukan menggunakan Moderated Regression Analysis (MRA) melalui perangkat lunak E-Views. Ukuran dewan direksi dan reputasi perusahaan berpengaruh negatif signifikan terhadap financial distress. Available slack memperkuat peran komite audit dan growth opportunities dalam memitigasi risiko tersebut, sehingga penguatan struktur dewan, manajemen reputasi, dan pemanfaatan slack menjadi kunci pencegahan financial distress.
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