How to cite this paper
Nugroho, M., Arif, D & Halik, A. (2021). The effect of financial distress on stock returns, through systematic risk and profitability as mediator variables.Accounting, 7(7), 1717-1724.
Refrences
Arif, D., Yucha, N., Setiawan, S., Oktarina, D., Martah, V., & Muttaqiin, N. (2020). Applications of Goods Mutation Control Form in Accounting Information System: A Case Study in Sumber Indah Perkasa Manufacturing, Indonesia. The Journal of Asian Finance, Economics and Business, 7(8), 419–424.
Ashraf, B. N. (2020). Stock markets' reaction to COVID-19: Cases or fatalities? Research in International Business and Finance, 54, 101249. https://doi.org/https://doi.org/10.1016/j.ribaf.2020.101249
Barberis, N., & Huang, M. (2008). Stocks as Lotteries: The Implications of Probability Weighting for Security Prices. American Economic Review, 98(5), 2066–2100. https://doi.org/10.1257/aer.98.5.2066
Barus, M., Sudjana, N., & Sulasmiyati, S. (2017). PENGGUNAAN RASIO KEUANGAN UNTUK MENGUKUR KINERJA KEUANGAN PERUSAHAAN (Studi pada PT. Astra Otoparts, Tbk dan PT. Goodyer Indonesia, Tbk yang Go Public di Bursa Efek Indonesia). Jurnal Administrasi Bisnis S1 Universitas Brawijaya, 44(1), 154–163.
Benoit, S., Colletaz, G., & Hurlin, C. (2012). A Theoretical and Empirical Comparison of Systemic Risk Measure: MES Versus Delta Covar. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.2083653
Benoit, S., Colliard, J.-E., Hurlin, C., & Pérignon, C. (2017). Where the Risks Lie: A Survey on Systemic Risk*. Review of Finance, 21(1), 109–152. https://doi.org/10.1093/rof/rfw026
Bravo-Urquiza, F., & Moreno-Ureba, E. (2021). Does compliance with corporate governance codes help to mitigate financial distress? Research in International Business and Finance, 55, 101344. https://doi.org/https://doi.org/10.1016/j.ribaf.2020.101344
Chen, J., De Cesari, A., Hill, P., & Ozkan, N. (2018). Initial compensation contracts for new executives and financial distress risk: An empirical investigation of UK firms. Journal of Corporate Finance, 48, 292–313. https://doi.org/https://doi.org/10.1016/j.jcorpfin.2017.11.002
Cifuentes, R., Ferrucci, G., & Shin, H. S. (2005). LIQUIDITY RISK AND CONTAGION. Journal of the European Economic Association, 3(2‐3), 556–566. https://doi.org/https://doi.org/10.1162/jeea.2005.3.2-3.556
Cont, R., & Wagalath, L. (2016). FIRE SALES FORENSICS: MEASURING ENDOGENOUS RISK. Mathematical Finance, 26(4), 835–866. https://doi.org/https://doi.org/10.1111/mafi.12071
Dyah, A. S., & Mulyo, H. (2012). Analisis Pengaruh ROA, NPM, EPS dan PER Terhadap Return Saham. Ekonomia Dan Bisnis, 210.
Elyasiani, E., Mester, L. J., & Pagano, M. S. (2014). Large capital infusions, investor reactions, and the Return and risk-performance of financial institutions over the business cycle. Journal of Financial Stability, 11, 62–81. https://doi.org/https://doi.org/10.1016/j.jfs.2013.11.002
Fich, E. M., & Slezak, S. L. (2008). Can corporate governance save distressed firms from bankruptcy? An empirical analysis. Review of Quantitative Finance and Accounting, 30(2), 225–251. https://doi.org/10.1007/s11156-007-0048-5
Gilson, S. C. (1989). Management turnover and financial distress. Journal of Financial Economics, 25(2), 241–262. https://doi.org/https://doi.org/10.1016/0304-405X(89)90083-4
Grice, J. S., & Dugan, M. T. (2003). RE-ESTIMATIONS OF THE ZMIJEWSKI AND OHLSON BANKRUPTCY PREDICTION MODELS. Advances in Accounting, 20, 77–93. https://doi.org/https://doi.org/10.1016/S0882-6110(03)20004-3
Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2013). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM). Thousand Oaks. Sage, 165.
Hsu, H.-H., & Wu, C. Y.-H. (2014). Board composition, grey directors and corporate failure in the UK. The British Accounting Review, 46(3), 215–227. https://doi.org/https://doi.org/10.1016/j.bar.2013.12.002
Li, Z., Crook, J., Andreeva, G., & Tang, Y. (2020). Predicting the risk of financial distress using corporate governance measures. Pacific-Basin Finance Journal, 101334. https://doi.org/https://doi.org/10.1016/j.pacfin.2020.101334
Mangena, M., Priego, A. M., & Manzaneque, M. (2020). Bank power, block ownership, boards and financial distress likelihood: An investigation of Spanish listed firms. Journal of Corporate Finance, 64, 101636. https://doi.org/https://doi.org/10.1016/j.jcorpfin.2020.101636
Mitton, T., & Vorkink, K. (2008). Why Do Firms with Diversification Discounts Have Higher Expected Returns? Journal of Financial and Quantitative Analysis, 45, 1367–1390. https://doi.org/10.2139/ssrn.932960
Nugroho, M., Arif, D., & Halik, A. (2021). The effect of loan-loss provision, non-performing loans and third-party fund on capital adequacy ratio. Accounting, 7(10), 943–950. https://doi.org/10.5267/j.ac.2021.1.013
Nugroho, M., Halik, A., & Arif, D. (2020). Effect of CAMELS Ratio on Indonesia Banking Share Prices. The Journal of Asian Finance, Economics and Business, 7(11), 101–106.
Rong, Y., Tian, C., Li, L., & Zheng, X. (2020). Labour hiring and stock return: A model and new evidence from China. Pacific-Basin Finance Journal, 59, 101256. https://doi.org/https://doi.org/10.1016/j.pacfin.2019.101256
Salloum, C. C., Azoury, N. M., & Azzi, T. M. (2013). Board of directors' effects on financial distress evidence of family-owned businesses in Lebanon. International Entrepreneurship and Management Journal, 9(1), 59–75. https://doi.org/10.1007/s11365-011-0209-9
Xu, L. (2021). Stock Return and the COVID-19 pandemic: Evidence from Canada and the US. Finance Research Letters, 38, 101872. https://doi.org/https://doi.org/10.1016/j.frl.2020.101872
Yucha, N. (2018). Financial Distress , Kinerja Keuangan Dan Manajemen Turnover Perusahaan Publik. ISSN: 2615-6237 Online, 1(1), 30–35.
Ashraf, B. N. (2020). Stock markets' reaction to COVID-19: Cases or fatalities? Research in International Business and Finance, 54, 101249. https://doi.org/https://doi.org/10.1016/j.ribaf.2020.101249
Barberis, N., & Huang, M. (2008). Stocks as Lotteries: The Implications of Probability Weighting for Security Prices. American Economic Review, 98(5), 2066–2100. https://doi.org/10.1257/aer.98.5.2066
Barus, M., Sudjana, N., & Sulasmiyati, S. (2017). PENGGUNAAN RASIO KEUANGAN UNTUK MENGUKUR KINERJA KEUANGAN PERUSAHAAN (Studi pada PT. Astra Otoparts, Tbk dan PT. Goodyer Indonesia, Tbk yang Go Public di Bursa Efek Indonesia). Jurnal Administrasi Bisnis S1 Universitas Brawijaya, 44(1), 154–163.
Benoit, S., Colletaz, G., & Hurlin, C. (2012). A Theoretical and Empirical Comparison of Systemic Risk Measure: MES Versus Delta Covar. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.2083653
Benoit, S., Colliard, J.-E., Hurlin, C., & Pérignon, C. (2017). Where the Risks Lie: A Survey on Systemic Risk*. Review of Finance, 21(1), 109–152. https://doi.org/10.1093/rof/rfw026
Bravo-Urquiza, F., & Moreno-Ureba, E. (2021). Does compliance with corporate governance codes help to mitigate financial distress? Research in International Business and Finance, 55, 101344. https://doi.org/https://doi.org/10.1016/j.ribaf.2020.101344
Chen, J., De Cesari, A., Hill, P., & Ozkan, N. (2018). Initial compensation contracts for new executives and financial distress risk: An empirical investigation of UK firms. Journal of Corporate Finance, 48, 292–313. https://doi.org/https://doi.org/10.1016/j.jcorpfin.2017.11.002
Cifuentes, R., Ferrucci, G., & Shin, H. S. (2005). LIQUIDITY RISK AND CONTAGION. Journal of the European Economic Association, 3(2‐3), 556–566. https://doi.org/https://doi.org/10.1162/jeea.2005.3.2-3.556
Cont, R., & Wagalath, L. (2016). FIRE SALES FORENSICS: MEASURING ENDOGENOUS RISK. Mathematical Finance, 26(4), 835–866. https://doi.org/https://doi.org/10.1111/mafi.12071
Dyah, A. S., & Mulyo, H. (2012). Analisis Pengaruh ROA, NPM, EPS dan PER Terhadap Return Saham. Ekonomia Dan Bisnis, 210.
Elyasiani, E., Mester, L. J., & Pagano, M. S. (2014). Large capital infusions, investor reactions, and the Return and risk-performance of financial institutions over the business cycle. Journal of Financial Stability, 11, 62–81. https://doi.org/https://doi.org/10.1016/j.jfs.2013.11.002
Fich, E. M., & Slezak, S. L. (2008). Can corporate governance save distressed firms from bankruptcy? An empirical analysis. Review of Quantitative Finance and Accounting, 30(2), 225–251. https://doi.org/10.1007/s11156-007-0048-5
Gilson, S. C. (1989). Management turnover and financial distress. Journal of Financial Economics, 25(2), 241–262. https://doi.org/https://doi.org/10.1016/0304-405X(89)90083-4
Grice, J. S., & Dugan, M. T. (2003). RE-ESTIMATIONS OF THE ZMIJEWSKI AND OHLSON BANKRUPTCY PREDICTION MODELS. Advances in Accounting, 20, 77–93. https://doi.org/https://doi.org/10.1016/S0882-6110(03)20004-3
Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2013). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM). Thousand Oaks. Sage, 165.
Hsu, H.-H., & Wu, C. Y.-H. (2014). Board composition, grey directors and corporate failure in the UK. The British Accounting Review, 46(3), 215–227. https://doi.org/https://doi.org/10.1016/j.bar.2013.12.002
Li, Z., Crook, J., Andreeva, G., & Tang, Y. (2020). Predicting the risk of financial distress using corporate governance measures. Pacific-Basin Finance Journal, 101334. https://doi.org/https://doi.org/10.1016/j.pacfin.2020.101334
Mangena, M., Priego, A. M., & Manzaneque, M. (2020). Bank power, block ownership, boards and financial distress likelihood: An investigation of Spanish listed firms. Journal of Corporate Finance, 64, 101636. https://doi.org/https://doi.org/10.1016/j.jcorpfin.2020.101636
Mitton, T., & Vorkink, K. (2008). Why Do Firms with Diversification Discounts Have Higher Expected Returns? Journal of Financial and Quantitative Analysis, 45, 1367–1390. https://doi.org/10.2139/ssrn.932960
Nugroho, M., Arif, D., & Halik, A. (2021). The effect of loan-loss provision, non-performing loans and third-party fund on capital adequacy ratio. Accounting, 7(10), 943–950. https://doi.org/10.5267/j.ac.2021.1.013
Nugroho, M., Halik, A., & Arif, D. (2020). Effect of CAMELS Ratio on Indonesia Banking Share Prices. The Journal of Asian Finance, Economics and Business, 7(11), 101–106.
Rong, Y., Tian, C., Li, L., & Zheng, X. (2020). Labour hiring and stock return: A model and new evidence from China. Pacific-Basin Finance Journal, 59, 101256. https://doi.org/https://doi.org/10.1016/j.pacfin.2019.101256
Salloum, C. C., Azoury, N. M., & Azzi, T. M. (2013). Board of directors' effects on financial distress evidence of family-owned businesses in Lebanon. International Entrepreneurship and Management Journal, 9(1), 59–75. https://doi.org/10.1007/s11365-011-0209-9
Xu, L. (2021). Stock Return and the COVID-19 pandemic: Evidence from Canada and the US. Finance Research Letters, 38, 101872. https://doi.org/https://doi.org/10.1016/j.frl.2020.101872
Yucha, N. (2018). Financial Distress , Kinerja Keuangan Dan Manajemen Turnover Perusahaan Publik. ISSN: 2615-6237 Online, 1(1), 30–35.