Dominant Factors Affecting Financial Distress: A Study on Miscellaneous Industry Sectors Listed in the Stock Exchange Years of 2014 to 2019 in Indonesia.

This study aims to find empirical evidence regarding the relationship between liquidity, debt policy towards the company's financial distress. The population in this study were 29 mining companies listed on the Stock Exchange in 2014-2019, with the number of samples used was 17 companies. Data used was secondary data in the form of annual reports obtained from the IDX (www.sahamok.net). Testing in this study was carried out by ratio financial analysis. Statistical analysis of the study uses Structural Equation Modeling (SEM) with the alternative method is partial least square (PLS) use software SmartPLS version 3.0. The results show that Liquidity has been proven to have a significant positive effect on financial distress, The policy proved to have a significant negative effect on financial distress. The company's liquidity is proven to have a significant negative effect on debt policy. These results suggest that managers need to make some adjustments to the firm's liquidity level to meet their needs for debt and equity financing. [ABSTRACT FROM AUTHOR]