Pengaruh Kepemilikan Manajerial, Kepemilikan Institusional, Ukuran Perusahaan dan Operating Capacity Terhadap Financial Distress

For the years 2020–2024, this research will look at textile firms listed on the IDX and see how factors like managerial ownership, institutional ownership, company size, and operational capacity affect financial hardship. As a result of the COVID-19 pandemic and other economic shocks, the textile sector is facing severe financial difficulties. Using secondary data collected from the companies' yearly financial reports, this study utilised a quantitative technique. Availability and completeness of data were the deciding factors in the purposive sampling strategy that was used to determine the sample. The Altman Z-Score was used to measure financial distress, and the percentage of managerial and institutional ownership, company size (as a proxy for total assets), and total asset turnover (as a measure of operating capacity) were used as independent variables. Panel data regression, aided by EViews 12, was the method of choice for data analysis. The findings disproved the hypothesis that managerial ownership might mitigate financial hardship. At the same time, financial difficulty was significantly affected by institutional ownership, business size, and operational capacity. At the same time, monetary hardship was significantly affected by each of the independent variables. According to these results, a company's ability to avoid financial trouble is heavily dependent on its ownership structure and the efficacy of its operations.