ASOSIASI KARAKTERISTIK CEO TERHADAP POTENSI KESULITAN KEUANGAN PERUSAHAAN

Abstract

This study aims to determine the effect of CEO characteristics in
terms of facial masculinity, education, and experience to potential of financial
distress. Facial masculinity was measured using dummy variables consisting
of masculinity and feminism. Education was measured using dummy
variables of educational level; meanwhile, experience was measured using
dummy variables from CEO work experience. This research used quantitative
with secondary data types taken from annual reports of non-financial
companies that are listed on Indonesia Stock Exchange. The sampling method
used purposive sampling with the observation period of 2016–2018 and
obtained a total sample of 259 samples. The method data analysis used
multiple linear regression analysis. The result showed that: (1) CEO face
masculinity did not affect financial distress, (2) CEO education did not
affect financial distress, (3) CEO experience positively influenced financial
distress. The results showed the fact that CEO experience is an important
factor that could improved company performance for avoiding financial
distress potential.