Pengaruh Financial Distress, Return Saham, dan Audit Tenure terhadap Opini Audit Going Concern
- Marinus Egi Universitas Widya Dharma Pontianak, Pontianak, Indonesia
-
Katarina Agnes
*
Universitas Widya Dharma Pontianak, Pontianak,
Indonesia
(*) Corresponding Author
Abstract
This study aims to analyze and examine the effect of financial distress, stock returns, and audit tenure on going-concern audit opinions among energy sector companies listed on the Indonesia Stock Exchange during the 2021–2025 period. This study extends previous research by adding stock returns as an independent variable and updating the observation period, considering that previous studies have shown inconsistent findings regarding the effects of financial conditions, market responses, and auditor-client relationships on going-concern opinions. This study employs a quantitative approach using secondary data obtained from companies’ annual reports published during the observation period. The sample was selected using the purposive sampling method, resulting in 235 firm-year observations. Data analysis was conducted using binary logistic regression processed with EViews 13 software. The tests performed in this study include the model goodness-of-fit test, multicollinearity test, simultaneous test (Likelihood Ratio), and partial test (Z-test). The results show that financial distress has a negative and significant effect on going-concern audit opinions, with a coefficient of -2.021047 and a probability of 0.0000. Meanwhile, stock returns, with a coefficient of 0.392198 and a probability of 0.1197, and audit tenure, with a coefficient of 0.031212 and a probability of 0.5144, have no significant effect. These findings provide a theoretical contribution by reinforcing Signaling Theory in the context of going-concern audit opinions, as well as an empirical contribution by demonstrating that a company’s financial condition is more consistent in explaining going-concern audit opinions than stock returns and audit tenure among energy sector companies.
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