KOMISARIS INDEPENDEN DALAM MEMODERASI KONEKSI POLITIK, GENDER DIVERSITY DAN PERTUMBUHAN LABA TERHADAP FINANCIAL DISTRESS
DOI:
https://doi.org/10.61393/heiema.v5i2.524Keywords:
Financial Distress, Koneksi Politik, Gender Diversity, Pertumbuhan Laba, Komisaris IndependenAbstract
This study aims to analyze the effect of political connections, gender diversity, and profit growth
on financial distress, with independent commissioners as a moderating variable. This research
employs a quantitative approach using secondary data obtained from the financial statements
and annual reports of State-Owned Enterprises (SOEs) listed on the Indonesia Stock Exchange
(IDX) during the 2020–2024 period. The data were analyzed using multiple regression with a
Moderated Regression Analysis (MRA) approach. The results indicate that political connections
have no significant effect on financial distress. Gender diversity has a negative effect on
financial distress, indicating that greater gender diversity reduces the likelihood of financial
distress. Profit growth has a positive effect on financial distress, suggesting that higher profit
growth does not necessarily reflect better financial stability. Furthermore independent
commissioners, is unable to moderate the relationship between political connections and
financial distress. However, independent commissioners are proven to weaken the influence of
gender diversity and profit growth on financial distress. These findings suggest that independent
commissioners, is effective in strengthening supervisory functions over internal corporate
factors. This study is expected to contribute to the corporate governance literature and provide
practical implications for management and stakeholders in preventing financial distress among
SOEs.
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