PENGGUNAAN MODEL ALTMAN Z”-SCORE, SPRINGATE, ZMIJEWSKI UNTUK MEMPREDIKSI FINANCIAL DISTRESS PERUSAHAAN PERTAMBANGAN LISTING BEI
-
Iman Indrafana Kusumo Hasbullah
*
Universitas Harapan Medan,
Indonesia
Abstract
This research aims to analyze the results of financial distress prediction using the methods of Altman Z "-Score, Springate, and Zmijewski. This research uses secondary data, that is financial reports from mining company data that listed in Bursa Efek Indonesia (BEI) years 2010 - 2016. The total of all mining companies in this research are 42 companies and there are 26 companies that use as samples. Sample selectied by purposive sampling. Data analysis techniques in this research using quantitative descriptive analysis technique..
Research results, there were 7 companies that predicted in healthy condition by using the method of Altman Z "-Score. There were 2 companies that were predicted in healthy condition by using Springate method and by using Zmijewski method, there were as many as 12 companies were predicted in healthy condition. For predictions of companies that were in bankruptcy condition, Altman Z "-Score method predicts there were as many as 2 companies that were in bankrupt condition. By using Springate method, there were as many as 6 companies in a state of bankruptcy were predicted. By using Zmijewski method, there were as many as 1 company predicted in a state of bankruptcy. For the overall results of each methods, there were two companies that were in a healthy condition for 7 consecutive years, consistent with the results that predicted by each methods, there were the method of Altman Z "-Score, Springate, and Zmijewski.
References
A. M. Agus Harjito, Manajemen Keuangan, 2nd ed. Yogyakarta: EKONISIA, 2014.
L. Novietta and K. Minan, “Komparasi Model Kebangkrutan pada Perusahaan Tekstil dan Garmen yang Terdaftar di Bursa Efek Indonesia,” J. Akunt. Bisnis, vol. 3, no. 1, pp. 118–143, 2017.
Imam Ghozali, Aplikasi analisis multivariate dengan program IBM SPSS 21 update PLS regresi. Semarang: Universitas Diponegoro, 2013.
Prof. Dr. Sugiyono, Metode Penelitian Kuantitatif, Kualitatif, dan R&D, 1st ed. Bandung: Alfabeta, 2019.
Anwar Sanusi, Metodologi Penelitian Bisnis. Jakarta Selatan: Salemba Empat, 2012.
E. T. Kartika hadi, Hans Sinaga, Rosita Uli, Syampul, Merliyana, Siregar, Sylvia Veronica, Wahyuni, Akuntansi Keuangan ; Berdasarkan Sak Berbasis ifrs, 2nd ed. Jakarta: Ikatan Akuntansi Indonesia : JAKARTA, 2016.
S. D. Lestari, R. F. Oktaviani, and W. Arafah, “Financial Distress Prediction With Altman Z-Score And Effect On Stock Price: Empirical Study On Companies Subsectors Chemical Listed In Indonesia Stock Exchange Period,” Int. J. Bus. Manag. Invent. ISSN, vol. 5, no. 8, pp. 30–39, 2016.
H. Adnan and D. Arisudhana, “Analisis Kebangkrutan Model Altman Z-Score Dan Springate Pada Perusahaan Industri Property,” J. Chem. Inf. Model., vol. 53, no. 9, pp. 1689–1699, 2019.
M. M. William H. Beaver, Maria Correia, Financial Statement Analysis and the Prediction of Financial Distress, 1st ed. Hanover, USA: Now Publisher Inc., 2011.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under Creative Commons Attribution 4.0 International License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (Refer to The Effect of Open Access).
.png)
.png)
.jpg)
.jpg)
