Impact of Current Ratio, Debt to Asset Ratio, and Total Asset Turnover on Financial Distress with Return on Assets as a Moderator in Consumer Service Companies
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Adinda Putri Satya
Esi Fitriani Komara*
This research examines the relationship between Current Ratio, Debt to Asset Ratio, and Total Asset Turnover on Financial Distress, with Return on Asset serving as a moderating variable in Indonesian consumer service sub-sector companies from 2019 to 2023. The study selected 23 companies from a population of 33 consumer service companies using purposive sampling techniques. By using quantitative techniques such as Logistic Regression Analysis and Moderated Regression Analysis, it was discovered that Current Ratio and Debt to Asset Ratio have no impact on Financial Distress. However, Total Asset Turnover was found to have a negative effect on Financial Distress. Additionally, Return on Asset does not moderate the relationship between Current Ratio and Total Asset Turnover on Financial Distress, but it does lessen the influence of Debt to Asset Ratio on Financial Distress.
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