FAKTOR-FAKTOR YANG MEMPENGARUHI KEBERHASILAN PROSES TURNAROUND PADA PERUSAHAAN TEKSTIL DAN GERMEN YANG TERDAFTAR DI BEI

Each company may have a condition called financial distress or liquid,
where there is a decline in financial performance. Therefore, to avoid the condition,
the company needs to have a turnaround. This research aimed to analyze the firm
size, asset retrenchment, debt restructuring, and operational restructuring on
turnaround success.
The research was quantitative. Moreover, the population was Textile and
Garment companies listed on Indonesia Stock Exchange from 2017-up to 2020. The
data collection technique used purposive sampling, in which the sample was based
on the criteria given. In line with that, there were 44 data as the sample.
Furthermore, the Altman Z-score model was used to determine the company’s
turnaround status. The data analysis technique used logistic regression.
The research result concluded that firm size, asset retrenchment, and
operational restructuring did not affect the probability of turnaround success. In
contrast, debt restructuring affected the probability of turnaround success. In
general, all variables within the research had a positive coefficient