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Does Board Diversity and Financial Ratio Predict the Risk of Financial Distress?? Evidence from Indonesia

In: Proceedings of the International Conference on Business, Accounting, Banking, and Economics (ICBABE 2022)

Author

Listed:
  • Nurcahyono Nurcahyono

    (Universitas Muhammdiyah Semarang, Department of Accounting)

  • Ayu Noviani Hanum

    (Universitas Muhammdiyah Semarang, Department of Accounting)

  • Andwiani Sinarasri

    (Universitas Muhammdiyah Semarang, Department of Accounting)

Abstract

COVID-19 caused the world financial crisis, as evidenced by the number of companies experiencing financial distress. This study aims to identify companies in the transportation sector experiencing the financial distress by using internal and external financial ratios and board diversity predictors. The research method used is a positivist paradigm with a comparative causal approach. Research focuses on transportation sector companies with 27 companies, five years of observation with 137 units of analysis, with a purposive sampling technique. The results showed that independent commissioners did not affect financial distress. Managerial ownership and gender diversity can reduce the risk of financial distress. Profitability and leverage have a positive effect on financial distress.

Suggested Citation

  • Nurcahyono Nurcahyono & Ayu Noviani Hanum & Andwiani Sinarasri, 2023. "Does Board Diversity and Financial Ratio Predict the Risk of Financial Distress?? Evidence from Indonesia," Advances in Economics, Business and Management Research, in: Chih Wen-Hai & Ali Mursid (ed.), Proceedings of the International Conference on Business, Accounting, Banking, and Economics (ICBABE 2022), pages 337-348, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-154-8_29
    DOI: 10.2991/978-94-6463-154-8_29
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