PREDIKSI KEBANGKRUTAN DENGAN METODE ALTMAN Z-SCORE, SPRINGATE DAN ZMIJEWSKI PADA PERUSAHAAN DELISTING DI BURSA EFEK INDONESIA (BEI)

This research aimed to understand how to use of the Altman Z-Score, Springate, and Zmijewski methods, to predict bankruptcy and help to analyze companies that have been delisted from Indonesian Stock Exchange in time period of 2011–2015. This research used descriptive method with quantitative approach. The population used in this research are companies that have been delisted in time period of 2011-2015, using the financial report from three years before the companies delisting from Indonesian Stock Exchange. Non-probability sampling with purposive sampling technique were used, with nine companies that have been delisted from Indonesian Stock Exchange. The result showed that there are different prediction from each methods. Most delisting companies are predicted to bankrupt at least one of the methods.

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FAKTOR INTERNAL PENDORONG TERJADINYA PENGHINDARAN PAJAK PADA PERUSAHAAN SEKTOR INFRASTRUKTUR, UTILITAS, DAN TRANSPORTASI

JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi) ◽

10.34204/jiafe.v7i1.3046 ◽

2021 ◽

Vol 07 (01) ◽

Author(s):

Rini Handayani ◽

◽

Endah Purnama Sari ◽

Enny Prayogo ◽

Elvina Elvina ◽

...

Keyword(s):

Sampling Method ◽

Stock Exchange ◽

Tax Avoidance ◽

Sampling Technique ◽

Institutional Ownership ◽

Company Size ◽

Probability Sampling ◽

Purposive Sampling ◽

Time Period

Abstrak: Peneitian ini bertujuan untuk menguji bagaimana peran ukuran perusahaan dan kepemilikan institusional mempengaruhi tax avoidance yang dimoderasi oleh variabel profitabilitas. Populasi sebagai objek riset ini menggunakan seluruh perusahaan yang listing di Bursa Efek Indonesia (BEI). Sampel yang digunakan sebagai objek penelitian diperoleh dengan menggunakan metode nonprobability sampling teknik purposive sampling yaitu perusahaan-perusahaan yang bergerak di bidang infrastructure, utilities, and transportation yang listing di BEI pada periode waktu 2014—2018. Kriteria yang ditetapkan peneliti adalah perusahaan yang tidak memenuhi kriteria yang telah ditetapkan, tidak digunakan dalam penelitian ini. Hasil penelitian ini menunjukkan bahwa ukuran perusahaan berpengaruh terhadap tax avoidance sementara kepemilikan institusional tidak berpengaruh terhadap tax avoidance. Profitabilitas terbukti dapat memperkuat pengaruh ukuran perusahaan dan kepemilikan institusional terhadap tax avoidance. Implikasi dari hasil riset ini dapat memberikan masukan dan pengetahuan bagi Perusahaan dalam mengambil keputusan dan menyelesaikan tindakan tax avoidance yang akan dan sudah dilakukan perusahaan dan bagi manajemen perusahaan dapat memikirkan strategi yang sesuai untuk mengalokasikan biaya di dalam perusahaan untuk meminimalkan tax avoidance. Abstract: This research has the aim of seeing how the role of Company Size and Institutional Ownership affects Tax Avoidance which is moderated by the Profitability variable. The population as the object of this research uses all companies listed on the Indonesian Stock Exchange (IDX). The sample used as the research object was obtained using non-probability sampling method, purposive sampling technique, namely companies engaged in the infrastructure, utilities, and transportation sectors listed on the IDX in the 2014-2018 time period. The criteria set by the researcher are companies that do not meet the predetermined criteria, not used in this study. The results of this study indicate that company size has an effect on tax avoidance while institutional ownership has no effect on tax avoidance. Profitability is proven to strengthen the influence of company size and institutional ownership on tax avoidance. The implication of the results of this research can provide input and knowledge for the company in making decisions and resolving tax avoidance actions that the company will and have taken and for company management to think about appropriate strategies to allocate costs within the company to minimize tax avoidance.

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HOW DOES THE STORE (MALL) ENVIRONMENT AND MONEY AVAILABILITY AFFECT CONSUMER IMPULSE BUYING BEHAVIOR AT SURABAYA CITY OF TOMORROW SHOPPING CENTER?

Jurnal Riset Manajemen dan Bisnis (JRMB) Fakultas Ekonomi UNIAT ◽

10.36226/jrmb.v4i2.259 ◽

2019 ◽

Vol 4 (2) ◽

pp. 215-224 ◽

Cited By ~ 1

Author(s):

Hendra Hendra ◽

Thomas Stefanus Kaihatu

Keyword(s):

Sampling Technique ◽

Quantitative Approach ◽

Shopping Center ◽

Sampling Techniques ◽

Impulse Buying ◽

Buying Behavior ◽

Probability Sampling ◽

Purposive Sampling ◽

The City ◽

Buying In

This study aims to determine the effect of store (mall) environment and money availability on consumer impulse buying in the City of Tomorrow (Cito) Surabaya. This study uses a quantitative approach whose data is obtained from the results of questionnaires. The sample in this study were 389 respondents taken based on purposive sampling technique which was included in non-probability sampling techniques. The results of this study indicate that the store (mall) environment has no effect on impulse buying. Meanwhile, money availability has a positive and significant effect on consumer impulse buying in the City of Tomorrow (Cito) Surabaya.

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PENGARUH DEWAN KOMISARIS, LEVERAGE, DAN STRUKTUR KEPEMILIKAN TERHADAP PENGUNGKAPAN ENTERPRISE RISK MANAGEMENT (ERM)

Equity ◽

10.34209/.v20i2.627 ◽

2019 ◽

Vol 20 (2) ◽

pp. 5

Author(s):

Jetmi Ade Cecasmi ◽

Samin Samin

Keyword(s):

Risk Management ◽

Ownership Structure ◽

Sampling Method ◽

Stock Exchange ◽

Sampling Technique ◽

Enterprise Risk Management ◽

Financial Report ◽

Purposive Sampling ◽

Analysis Technique ◽

Enterprise Risk

The purpose of this study was to examine the influence of Board of Commissioner, Leverage, and Ownership Structure on the Enterprise Risk Management disclosure of banking firm listed in Indonesian Stock Exchange for the period from 2013 to 2015. Sampling technique using purposive sampling (purposive sampling method). The sampel used in this study is a banking company that meets the criteriaas set out in this study to obtain 21 banking. The data obtained derived from the annualreport and financial report of the banks publishe. The analysis technique used in this research is multiple linear regression to test the classical assumption first. The result showed that the Board of Commissioner have a significant influence on the Enterprise Risk Management Disclosure. Leverageand Ownership Structure is not significantly effects on Enterprise Risk Management Disclosure.

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Analisis Perbandingan Financial Distress Pada Perusahaan Sub Sektor Rokok Periode 2015-2019

Business Innovation and Entrepreneurship Journal ◽

10.35899/biej.v3i3.304 ◽

2021 ◽

Vol 3 (3) ◽

pp. 157-163

Author(s):

Anang Makruf ◽

Deni Ramdani

Keyword(s):

Financial Distress ◽

Stock Exchange ◽

Market Value ◽

Sampling Technique ◽

Z Score ◽

Book Value ◽

Purposive Sampling ◽

Quantitative Models ◽

A Company ◽

Analyze Data

Abstract – The aim of the study was to analyze financial distress in cigarette companies list in Indonesia Stock Exchange in 2015-2019 using 3 methods, Altman Z-Score, Zmijewski, and Springate. Purposive sampling is used in this study to determine the sampling technique. The sample used in this study released 4 cigarette companies. Descriptive asalysis with quantitative models was used to analyze data in this research. Altman Z-Score, Zmijewski, and Springate in 2015-2019 PT. HM Sampoerna Tbk, PT. Gudang Garam Tbk, and PT. Wismilak Inti Makmur Tbk is related to safe, but it is needed a company that is estimated to be grey in the Altman Z-Score calculation in 2018, PT. Wismilak Inti Makmur Tbk. The Z-score is at the limit because the companie has a ratio with a lower value in market value of equity to book value of liabilities Abstrak – Penelitian ini memiliki bertujuan untuk menganalisis perbandingan kesulitan keuangan dalam perusahaan sun sektor rokok di Indonesia Stock Exchange periode 2015-2019 menggunakan tiga metode. Metode yang digunakan yaitu Altman Z-Score, Zmijewski, dan Springate. Purposive sampling digunakan dalam penelitian ini untuk menentukan teknik pengambilan sampel. Sampel yang digunakan berjumlah 4 perusahaan rokok. Analisis deskriptif dengan pendekatan kuantitatif digunakan sebagai teknik analisis data. Dalam penelitian ini menjelaskan financial distress yang dihitung menggunakan metode Altman Z-Score, Zmijewski , dan Springate pada tahun 2015-2019 PT. HM Sampoerna Tbk, PT. Gudang Garam Tbk, dan PT. Wismilak Inti Makmur Tbk mengalami dalam kondisi keuangan yang sehat, namun terdapat perusahaan yang diestimasi rawan kebangkrutan pada perhitungan Altman Z-Score pada tahun 2018 yaitu PT. Wismilak Inti Makmur Tbk. hal ini dapat terjadi karena nilai Z-Score PT. Wismilak Inti MakmurTbk berada pada Z < 1,81 salah satu penyebabnya ialah rendahnya rasio market value of equity terhadap liabilities.

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Pengaruh profitabilitas, leverage, likuiditas, struktur modal dan keputusan investasi terhadap nilai perusahaan pada perusahaan sektor keuangan yang terdaftar di Bursa Efek Indonesia Tahun 2015-2017

Jurnal Paradigma Ekonomika ◽

10.22437/jpe.v16i1.12076 ◽

2021 ◽

Vol 16 (1) ◽

pp. 37-50

Author(s):

Peffi Manalu ◽

Getsmani Getsmani ◽

Citra Permatasari Hutagaol ◽

Deasy Arisandy Aruan

Keyword(s):

Capital Structure ◽

Firm Value ◽

Stock Exchange ◽

Investment Decisions ◽

Sampling Technique ◽

Financial Sector ◽

Quantitative Approach ◽

Research Approach ◽

Purposive Sampling ◽

Study Population

This study aims to determine the effect of profitability, leverage, liquidity, capital structure, and investment decisions on firm value. A research approach is a quantitative approach. The study population was taken from financial sector companies that have been listed on the Indonesia Stock Exchange 2015-2017, namely from a total of 87 companies, 39 companies were taken. The sample applies the purposive sampling technique. The research successfully proves that profitability, leverage, liquidity, capital structure, and investment decisions have a positive and significant effect on firm value. Partially, the research results are only profitability which has a positive and significant effect on firm value. So that the Adj obtained. R Square 13.1% with the remaining 86.9% influenced by outside variables. Keywords: Profitability,Leverage, Liquidity, Capital structure, Investment decisions, Firm value

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PENGARUH KINERJA KEUANGAN, RISK BASED CAPITAL, UKURAN PERUSAHAAN DAN MAKROEKONOMI TERHADAP FINANCIAL DISTRESS

Jurnal Ekonomi Bisnis dan Kewirausahaan ◽

10.26418/jebik.v10i1.44793 ◽

2021 ◽

Vol 10 (1) ◽

pp. 55

Author(s):

Agustina Nilasari

Keyword(s):

Firm Size ◽

Financial Distress ◽

Annual Report ◽

Stock Exchange ◽

Sampling Technique ◽

Insurance Companies ◽

Insurance Company ◽

Z Score ◽

Research Information ◽

Purposive Sampling

ABSTRACTThis research intends to examine the effect of insurance company financial ratios, namely solvency margin ratio, risk based capital, firm size, inflation and exchange rate on the estimated financial distress of life insurance companies. As well as general public listed on the Indonesia Stock Exchange from 2015 to 2019. This research is important considering that there have been cases of default by insurance companies. The research information in this research is secondary data obtained in the annual report which is sourced from BEI website and insurance company websites. The sample technique in this research is a purposive sampling technique, there are 35 samples that meet the standards to become samples. Insurance companies experiencing financial distress are determined based on the non-manufacturing Altman Z-score method. Multiple linear regression is the research technique chosen by researchers. This research results in the conclusion that only the firm size variable has an influence on financial distress estimates. The independent variables are able to explain the financial distress variable as much as 32.8%, the deficiency as much as 67.2%, which illustrates the variables that cannot be taken into account in the analysis of this study. ABSTRAKRiset ini bermaksud untuk menelaah pengaruh rasio keuangan perusahaan asuransi yakni solvency margin ratio (SMR), risk based capital (RBC), ukuran perusahaan (UK), inflasi (INF) serta nilai tukar (NT) terhadap perkiraan timbulnya keadaan financial distress perusahaan asuransi jiwa serta umum yang tercatat pada Bursa Efek Indonesia dari rentang waktu 2015 sampai 2019. Penelitian ini penting mengingat adanya kasus gagal bayar perusahaan asuransi. Informasi penelitian di dalam riset ini merupakan data sekunder yang didapatkan pada annual report yang bersumber dari website BEI serta website perusahaan asuransi. Teknik sampel di dalam riset ini merupakan teknik purposive sampling, terdapat 35 sampel yang memenuhi standar untuk menjadi sampel. Perusahaan asuransi yang mengalami financial distress ditentukan berdasarkan metode Altman Z-score non manufaktur. Regresi linier berganda menjadi teknik penelitian yang dipilih oleh peneliti. Riset ini menghasilkan kesimpulan bahwa hanya variabel ukuran perusahaan (UK) yang ada pengaruh terhadap perkiraan financial distress. Variabel bebas mampu memaparkan variabel financial distress sebanyak 32,8%, kekurangan sebanyak 67,2% digambarkan variabel yang tidak dapat diperhitungkan di dalam analisis penelitian ini.

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PENGARUH DEWAN KOMISARIS, LEVERAGE, DAN STRUKTUR KEPEMILIKAN TERHADAP PENGUNGKAPAN ENTERPRISE RISK MANAGEMENT (ERM)

Equity ◽

10.34209/equ.v20i2.627 ◽

2019 ◽

Vol 20 (2) ◽

pp. 5

Author(s):

Jetmi Ade Cecasmi ◽

Samin Samin

Keyword(s):

Risk Management ◽

Ownership Structure ◽

Sampling Method ◽

Stock Exchange ◽

Sampling Technique ◽

Enterprise Risk Management ◽

Financial Report ◽

Purposive Sampling ◽

Analysis Technique ◽

Enterprise Risk

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Analisis Prediksi Kebangkrutan Menggunakan Metode Altman (Z-Score) Pada Perusahaan Farmasi (Studi Kasus Pada Perusahaan yang Terdaftar di Bursa Efek Indonesia Tahun 2011 – 2015)

Benefit Jurnal Manajemen dan Bisnis ◽

10.23917/benefit.v2i1.3237 ◽

2017 ◽

Vol 2 (1) ◽

pp. 15

Author(s):

Fitria Wulandari ◽

Burhanudin Burhanudin ◽

Rochmi Widayanti

Keyword(s):

Sampling Method ◽

Stock Exchange ◽

Quantitative Approach ◽

Pharmaceutical Companies ◽

Z Score ◽

Purposive Sampling

This study aimed to analyze the condition of the company using the Altman Z-Score to predict the potential bankruptcy of the five pharmaceutical companies listed on the Indonesia Stock Exchange in 2011 to 2015. The sampling method is using purposive sampling with a sample of five pharmaceutical companies. This research is descriptive with quantitative approach. The results showed that: (1) in 2011 to 2015 the five pharmaceutical companies are in the good category, the number of Z-Score from all companies are ≥ 2.99. (2) Moreover from the five pharmaceutical companies that were analyzed PT Merck Tbk in 2011, 2013 and 2014 had the highest number for Z-Score at 8.45, 6.3 and 5.92. (3) PT Kalbe Farma Tbk in 2012 and 2014 had the highest number for Z Score at 6.08 and 5.91. The results of this study are expected for pharmaceutical companies to maintain liquidity to meet all its obligations so that will interest investors and creditors. Companies are expected to manage assets to increase sales and generate profits.

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PENGARUH GROWTH OPPORTUNITY, PROFITABILITY, BUSINESS RISK DAN SIZE TERHADAP STRUKTUR MODAL (Studi Pada Perusahaan Property dan Real Estate Yang Terdaftar Di BEI Periode 2009-2017)

JIMF (JURNAL ILMIAH MANAJEMEN FORKAMMA) ◽

10.32493/frkm.v2i3.3401 ◽

2019 ◽

Vol 2 (3) ◽

Author(s):

Ashop Barqoya

Keyword(s):

Real Estate ◽

Capital Structure ◽

Significant Influence ◽

Stock Exchange ◽

Sampling Technique ◽

Quantitative Approach ◽

Business Risk ◽

Purposive Sampling ◽

Real Estate Sector ◽

Growth Opportunity

The purpose of this study was to determine the effect of growth opportunity, profitability, business risk, and size on the company's capital structure either partially or simultaneously.The object of research used is the property and real estate sector companies listed on the Indonesia Stock Exchange in 2009-2017. This study uses a purposive sampling technique in determining research samples. the number of companies selected as the study sample were 18 companies registered in the property and real estate sector. This study uses a quantitative approach. The results showed that partially growth opportunity and size had not significant effect, while profitability and business risk had a significant effect on capital structure. the results of testing simultaneously growth opportunity, profitability, business risk, and size have a significant influence on the capital structure.

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PENGARUH STRUKTUR MODAL DAN PROFITABILITAS TERHADAP HARGA SAHAM (Studi Kasus Pada Perusahaan Asuransi yang Terdaftar Di Bursa Efek Indonesia Periode 2015 sampai dengan 2017)

BALANCE Jurnal Akuntansi dan Bisnis ◽

10.32502/jab.v3i2.1252 ◽

2018 ◽

Vol 3 (2) ◽

pp. 308

Author(s):

Mutiara Lusiana Annisa ◽

Rizki Fitri Amalia

Keyword(s):

Capital Structure ◽

Stock Prices ◽

Stock Price ◽

Stock Exchange ◽

Descriptive Analysis ◽

Sampling Technique ◽

Linear Analysis ◽

Quantitative Approach ◽

Insurance Companies ◽

Purposive Sampling

This research purpose to know and explaining the effect of capital structure and profitability stock prices case of studies at the insurance companies that listed on the Indonesia Stock Exchange from period time of 2015 untul 2017. The type of research used is explanatory causality research with quantitative approach. Based on sampling technique “purposive sampling” researcher used 11 companies that meets the criteria. The method of analysis used in this research is statistical descriptive analysis multiple linear analysis. The result of the methods show that the capital structure and profitability have a significant effect on the structure of the stock price. The results of research for capital structure has an insignificant the stock price and profitability has a significant the stock price.

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