期刊名称：International Journal of Research in Business and Social Science
印刷版ISSN：2147-4478
出版年度：2021
卷号：10
期号：5
页码：119-128
DOI：10.20525/ijrbs.v10i5.1279
语种：English
出版社：Society for the Study of Business & Finance
摘要：This study aims to examine and analyze the effect of financial distress with the Altman and Springate Models on stock returns either directly or indirectly by involving earnings management as a mediation. This study uses secondary data from Textile and Garment Companies listed on the Indonesia Stock Exchange from 2015-2019, with a sample of 20 companies using sampling so that 100 observations are obtained. The data is obtained from the annual financial statements. The data analysis technique used SEM-PLS with the help of WarpPLS 6.0 software. The results of the study provide empirical evidence that financial distress has a positive effect on earnings management, while financial distress and earnings management has a negative effect on stock returns. Earnings management is able to mediate the effect of financial distress on stock returns.
