PENGARUH LIKUIDITAS, LEVERAGE DAN KEPEMILIKAN MANAJERIAL TERHADAP FINANCIAL DISTRESS DENGAN VARIABEL MODERATING GOOD CORPORATE GOVERNANCE (Studi Pada Perusahaan Sektor Barang Konsumsi Yang Terdaftar Di Bursa Efek Indonesia Periode 2020-2022)

The purpose of this study is to determine the influence of liquidity, leverage and managerial ownership as well as good corporate governance which is proxied by using the audit committee as moderation in consumer goods sector companies listed on the Indonesia Stock Exchange for the 2020-2022 period. This study uses a purposive sampling method with certain criteria and a sample of 26 companies was obtained over a period of 3 years, so that the total sample in this study amounted to 78 samples. The analysis methods used are descriptive statistics, panel data regression tests and estimation model determination tests. Meanwhile, the analysis method to determine the influence of good corporate governance as a moderation variable by regressing independent variables, moderation variables and interaction variables to dependent variables. The Financial distress variable is proxied using the Altman Z-Score formula. The results of this study show that liquidity has a significant effect, leverage and managerial ownership have no significant effect. As a result of moderation testing, good corporate governance could not moderate the effect between liquidity, leverage and managerial ownership ratio on financial distress.

Keywords: Liquidity, Leverage, Managerial Ownership, Financial distress and Good Corporate Governance.