scholarly journals Kinerja Keuangan Dan Potensi Kebangkrutan Dari Perusahaan Transportasi Pelayaran Pada Tahun 2013-2017

2019 ◽  
Vol 2 (6) ◽  
Author(s):  
Aditya Budi Kurniawan Dan Carunia Mulya Firdausy
Keyword(s):  
Financial Performance ◽  
Financial Distress ◽  
Stock Exchange ◽  
Commodity Prices ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Financial Ratio ◽  
Grey Area ◽  
Score Method

The purpose of this study is to analyze the financial performance and potential bankruptcy of shipping transportation companies listed in the Indonesia Stock Exchange in 2013-2017. the method to estimate financial performance and bankruptcy prediction is by using  financial ratio & Altman Z-Score method. The results show that the majority of companies indicating there is a signs of improving financial performance when commodity prices begin to recover. In addition to the analysis of the Altman Z-score bankruptcy Based on the Z-score value of the 14 sample companies, in 2013 there were 5 companies in the healthy category (z-score> 2.60), however in 2016 this number decreased to 3 companies . Whereas for companies that are in the grey area category (z-score 1.1-2.60) in 2013 there were 4 companies and then declined to the remaining 3 companies in 2016. Whereas in 2013 company is in the category of financial distress (z-score <1 , 1) there are 5 companies and increased to 8 companies in 2016. In 2017 there was an increase in the companies in the healthy category & grey area each into 4 companies. While companies in the financial distress category are reduced to 6 companies. This means there are improvements in 2017.

scholarly journals Analysis of bankruptcy issues at manufacturing companies, sub-sectors of cosmetics and houseappliances registered in Indonesia Stock Exchange (IDX) year 2015-2017 using Altman Z-score

2019 ◽  
Vol 4 (01) ◽  
pp. 27
Author(s):  
Indar Khaerunnisa ◽  
Nur Anisa Rahayu
Keyword(s):  
Financial Performance ◽  
Financial Distress ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Z Score ◽  
Marketing Performance ◽  
Grey Area ◽  
Manufacturing Company ◽  
Score Model

This research aims to figure out the level of companies bankruptcy by applying Altman Z-Score at the manufacturing companies registered in the Indonesia Stocks Exchange. The result of the research has indicated that ZScore model is applicable to detect the company’s potential bankruptcy issues, especially manufacturing company subsectors of cosmetics and houseappliances. Altman Z-Score model has classified the companies into three categories; safe, grey area and distress. Based on the result of the research, for the companies which are in the grey area category are suggested to improve their financial performance and to use the benefit of all the assets properly to get the revenue as much as possible. However, for the companies which are in the safe category are suggested to increase their performance, especially marketing performance so that they will receive bigger amount of the revenue, nevertheless, the potential of financial distress can be minimized accordingly. Keywords: manufacturing company, financial distress, Altman Z-Score.

scholarly journals Analisis Kinerja Keuangan Perusahaan pada PT. Japfa Comfeed Indonesia Tbk

2020 ◽  
Vol 5 (2) ◽  
pp. 203
Author(s):  
Jezzyca Ria Paramita ◽  
Iwan Eka Putra ◽  
Abd Halim ◽  
Ermaini Ermaini
Keyword(s):  
Financial Performance ◽  
Secondary Data ◽  
Financial Statements ◽  
Bankruptcy Prediction ◽  
Financial Ratios ◽  
Z Score ◽  
Financial Ratio ◽  
Financial Condition ◽  
Score Method ◽  
Solvency Ratio

Financial performance is an overview of how a company's financial condition is. To assess financial performance is used with a benchmark commonly called financial ratios. Financial ratios used are usually such as profitability ratio, liquidity ratio and solvency ratio. in addition to using financial ratios, the company can also use the Altman Z-Score method to assess the level of the company's bankruptcy prediction. This research aims to find out the financial performance of PT Japfa Comfeed Indonesia Tbk as well as the company's future bankruptcy predictions. the research method used is quantitative analysis based on secondary data taken from the Financial Statements of PT Japfa Comfeed Indonesia Tbk for the period 2014 to 2019. The results of the study are measurements of the company's financial ratio showing sufficient value while measurements using the company's Altman Z-Score method show healthy value which means it does not go into bankruptcy.

scholarly journals ANALISIS PREDIKSI KEBANGKRUTAN BERDASARKAN METODE ALTMAN Z-SCORE (STUDI KASUS PADA BANK BUMN YANG TERDAFTAR DI BEI)

2019 ◽  
pp. 191
Author(s):  
I Komang Try Satriawan Korry ◽  
Made Pratiwi Dewi ◽  
Ni Luh Anik Puspa Ningsih
Keyword(s):  
Financial Distress ◽  
Deposit Insurance ◽  
Stock Exchange ◽  
Descriptive Analysis ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Gray Area ◽  
Analysis Technique ◽  
Score Method

Abstract: Bankruptcy Prediction Analysis Based on the Altman Z-Score Method (Case Study ofState-Owned Banks Registered on the IDX). Bankruptcy phenomena can occur in every company.Based on data from the Deposit Insurance Agency (LPS), there were 90 banks liquidated since 2005 until mid-2018. Based on the phenomenon of bankruptcy that occurred, it was important for banks to be no exception for state-owned banks to recognize the symptoms of financial distress thatled to bankruptcy. The purpose of this study was to determine the prediction of bankruptcy basedon the Altman Z-Score method on state-owned banks listed on the Indonesia Stock Exchange (IDX).The data analysis technique used in this study is descriptive analysis techniques. The sample inthis study used four state-owned banks, namely Bank Negara Indonesia, Bank Rakyat Indonesia,Bank Tabungan Nasional, and Bank Mandiri with the technique of determining saturated samplingsamples and the data used were financial statements for the 2014-2017 period obtained throughofficial IDX sites (www.idx.co.id). The results of the study show that all state-owned banks are inthe gray area for the period of 2014-2017 because the value of the Z-score obtained is between 1.1and 2.6.

scholarly journals Analysis of bankruptcy issues at manufacturing companies, sub-sectors of cosmetics and houseappliances registered in Indonesia Stock Exchange (IDX) year 2015-2017 using Altman Z-score

2019 ◽  
Vol 4 (01) ◽  
pp. 27
Author(s):  
Indar Khaerunnisa ◽  
Nur Anisa Rahayu
Keyword(s):  
Financial Performance ◽  
Financial Distress ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Z Score ◽  
Marketing Performance ◽  
Grey Area ◽  
Manufacturing Company ◽  
Score Model

This research aims to figure out the level of companies bankruptcy by applying Altman Z-Score at the manufacturing companies registered in the Indonesia Stocks Exchange. The result of the research has indicated that ZScore model is applicable to detect the company’s potential bankruptcy issues, especially manufacturing company subsectors of cosmetics and houseappliances. Altman Z-Score model has classified the companies into three categories; safe, grey area and distress. Based on the result of the research, for the companies which are in the grey area category are suggested to improve their financial performance and to use the benefit of all the assets properly to get the revenue as much as possible. However, for the companies which are in the safe category are suggested to increase their performance, especially marketing performance so that they will receive bigger amount of the revenue, nevertheless, the potential of financial distress can be minimized accordingly. Keywords: manufacturing company, financial distress, Altman Z-Score.

ANALISA KESEHATAN KEUANGAN PERUSAHAAN UNTUK MEMPREDIKSI KEBANGKRUTAN PERUSAHAAN DENGAN MENGGUNAKAN METODE ALTMAN (STUDI KASUS PADA PERUSAHAAN MANUFAKTUR SEKTOR KOMPONEN OTOMOTIF YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2011 – 2015)

2019 ◽  
Vol 13 (2) ◽  
pp. 55
Author(s):  
Indar Khaerunnisa ◽  
Edy Cahyadi
Keyword(s):  
Motor Vehicle ◽  
Stock Exchange ◽  
Secondary Data ◽  
Z Score ◽  
Financial Ratio ◽  
Average Value ◽  
Automotive Components ◽  
Grey Area ◽  
Financial Ratio Analysis ◽  
Year 2013

The Indonesian government has set the motor vehicle industry as one of the priority industries of the national interest, economic growth, and increased productivity. In order for the survival of a company is maintained, then the management should be able to maintain or even more spur increased performance. Various analyzes were developed to predict the beginning of the bankruptcy of the company. One analysis is widely used today is the analysis of Altman Z-Score, which this analysis refers to the financial ratios of the company. The purpose of this study was to analyze the bankruptcy of the automotive components companies that go public in Indonesia Stock Exchange year period 2011–2015. This study used a sample of four companies from the automotive components sector. Source of data is done by using secondary data. The data is processed by the method of the Z-score formula Z = 1,2X1 + 1,4X2 + 3,3X3 + 0,6X4 + 0,999X5. With the description of Z < 1,8 the company categorized into unhealthy/will be bankrupt, the value Z 1,8 < 2,99 the company is considered to be in the uncertain/grey area and the value of Z > 2,99 then the company is in a very healthy. In general, the results of these studies indicate that the four automtive components companies namely PT Astra Otoparts year 2011 value of Z = 14,67 year 2012 value of Z = 10,88 year 2013 value of Z = 13,90 year 2014 value of Z = 10,54 year 2015 value of Z = 4,94, PT Gajah Tunggal year 2011 value of Z = 5,72 year 2012 value of Z = 4,75 year 2013 value of Z = 3,10 year 2014 value of Z = 2,79 year 2015 value of Z = 1,58 and the average value of 2011-2015 periode Z = 3,59, PT Goodyear Indonesia year 2011 value of Z = 2,07 year 2012 value of Z = 2,44 year 2013 value of Z = 2,57 year 2014 value of Z = 2,02 year 2015 value of Z = 2,76, PT Indomobil Sukses Internasional year 2011 value of Z = 6,19 year 2012 value of Z = 3,99 year 2013 value of Z = 3,17 year 2014 value of Z = 2,59 year 2015 value of Z = 1,74. The average value 2011-2015 period showed 3 companies are in very healthy state and 1 company is in the uncertain/grey area. Keywords: Financial Ratio Analysis, Analysis of bankruptcy, Altman Z-Score Analysis, Automotive Components Company, Go Public.

Financial Statement Ratio Analysis to Predict Bankruptcy nn Company Registered in BEI - Jakarta (Altman Z-Score Method and Zmijewski)

2020 ◽  
Vol 3 (3) ◽  
pp. 122
Author(s):  
Andi Silvan
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Good Condition ◽  
Financial Statement ◽  
Depth Information ◽  
Z Score ◽  
Industrial Manufacturing ◽  
Financial Difficulties ◽  
A Value ◽  
Score Method

AbstractThis study takes the topic of predicting corporate bankruptcies. This research dqlam use traditional methods Altman Z-Score and Zmijewski. The purpose of this study was to obtain in-depth information about predicting bankruptcy of companies that are not necessarily directly to bankruptcy, but there is financial distress.Based on the results of research conducted on the four (4) non industrial manufacturing company listed on the Indonesia Stock Exchange (BEI). Obtaining the value z-score represents the average company are in good condition, which means no financial distress. Acquisition value of x-score has a value of less than 0 (zero) which means that the company is in good condition and is predicted not experiencing financial difficulties. This study led to the conclusion that the Altman Z-Score and Zmijewski method can be used to predict corporate bankruptcy. Keywords: Financial Ratios, Bankruptcy, Company.

scholarly journals ANALISIS FINANCIAL DISTRESS PADA PT TUNAS BARU LAMPUNG TBK DI BURSA EFEK INDONESIA

2017 ◽  
Vol 13 (2) ◽  
pp. 129-141
Author(s):  
Umi Ambarwati ◽  
Sudarwati Sudarwati ◽  
Rochmi Widayanti
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Financial Ratios ◽  
Z Score ◽  
Effective Strategies ◽  
Operational Costs ◽  
Score Method

This article aims to analyze the health of the company in PT Tunas Baru Lampung TBK in Indonesia Stock Exchange. The data comes from PT Tunas Baru Lampung TBK in 2013-2015. The methods used are Altman Z-Score, Springate, Zmijewski and Fulmer methods. The results of the study show that there are differences in predicted bankruptcy results between the Altman Z-score method, Springate, Zmijewski and Fulmer. This is due to differences in the use of financial ratios and criteria bankruptcy between Altman Z-score, Springate, Zmijewski and Fulmer. For that company is expected to increase sales, perform effective strategies, reduce operational costs to be more efesian so that companies can meet the company's health criteria.   Artikel ini bertujuan untuk menganalisis kesehatan perusahaan pada PT Tunas Baru Lampung TBK di Bursa Efek Indonesia. Data berasal dari PT Tunas Baru Lampung TBK pada tahun 2013-2015. Metode yang digunakan adalah metode Altman Z-Score, Springate, Zmijewski dan Fulmer. Hasil penelitian menunjukkan adanya perbedaan hasil prediksi kebangkrutan antara metode Altman Z-score, Springate, Zmijewski dan Fulmer. Hal ini karena adanya perbedaan penggunaan rasio keuangan dan kriteria kebangkrutan antara Altman Z-score, Springate, Zmijewski dan Fulmer. Untuk itu perusahaan diharapkan meningkatkan penjualan, melakukan strategi yang efektif, menekan biaya operasional agar lebih efesian sehingga perusahaan dapat memenuhi kriteria kesehatan perusahaan.

scholarly journals Analysis of Method Used to Predict Financial Distress Potential in Pulp and Paper Companies of Indonesia

2020 ◽  
Vol 1 (1) ◽  
pp. 57-69
Author(s):  
Fadrul Fadrul ◽  
Ridawati Ridawati
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Descriptive Analysis ◽  
Prediction Method ◽  
Pulp And Paper ◽  
Z Score ◽  
Accuracy Rate ◽  
Error Type ◽  
Paper Company ◽  
Score Method

This study aims to predict financial distress in pulp and paper companies in Indonesia. The data used are the financial statements of each pul and paper company listed on the Indonesia Stock Exchange in 2012-2017. Data analysis techniques used descriptive analysis with three methods of financial distress prediction, namely the Altman Z-Score, Springate, and Zmijewski methods. The results showed that the Zmijewski method is a prediction method with the highest accuracy rate of 100%, with an error type of 0%. The Altman Z-Score method has an accuracy rate of 28.6%, with an error type of 71.4%. While the Springate method has an accuracy rate of 14.3%, with an error type of 85.7%. Therefore an accurate prediction method to predict the potential for financial distress is the Zmijewski method.

scholarly journals Prediksi Kebangkrutan Dengan Altman Z-Score dan Harga Saham pada Perusahaan Manufaktur

2019 ◽  
Vol 2 (2) ◽  
pp. 121
Author(s):  
Hikmah Hikmah
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Secondary Data ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Financial Report ◽  
Basic Industry ◽  
Manufacturing Company ◽  
Score Method

Bankruptcy Prediction With the Altman Z-Score Method and the stock price on Manufacturing Company. This research aims to analyze the bankruptcy prediction on stock prices in manufacturing company of basic industry sector and chemical sub-sector of metals that listed in Indonesia Stock Exchange for the period of 2015-2017. The sampling method was done with purposive sampling which then determined 15 companies as sample. Sources of data used are secondary data in the form of financial report published in BEI. Data analysis used data panel regression using eviews version 8. These result shows that Altman Z-Score variable: 1) Working capital to total assets, 2) Retained earning to total assets, 3) Earning before interest and taxes to total assets, 4) Market value of equity to book value of total debts, and 5) Sales to total assets significantly influence stock prices in the metal subsector on the Indonesia Stock Exchange, the average company is in the gray area

scholarly journals BANKRUPTCY PREDICTION OF THE COMPANY USING ALTMAN Z–SCORE METHOD FOR THE CONVENTIONAL BANKS REGISTERED IN THE INDONESIA STOCKS EXCHANGE (BEI)

2017 ◽  
Vol 2 (02) ◽  
pp. 11
Author(s):  
Irwansyah .
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Gray Area ◽  
Analysis Technique ◽  
Score Analysis ◽  
Score Method ◽  
Score Model ◽  
Conventional Banks

This study was conducted to prove the accuracy of bankruptcy prediction of Altman Z-Score model on conventional banks listed on the Indonesia Stock Exchange. The data used in this study is secondary data obtained from the annual financial statements of conventional banks during the period of 2013-2016 mentioned on the official website of the Indonesia Stock Exchange. The data analysis technique used is bankruptcy prediction of Altman Z-Score model, using five variables representing liquidity ratios X1, profitability ratios X2 and X3, and activity ratios X4 and X5. The formula Z-score = 1.2X1 + 1.4X2 + 3.3X3 + 0.6X4 + X5. When Z-Score criteria is Z > 2.90 it is categorized as a healthy company. Z-Score between 1.23 to 2.90 is categorized as a company in area. While Z-Score Z < 1.23 is categorized as a potential bankrupt company. Based on the results of the research, Z-Score analysis that has been done in the period of 2013-2016 indicating that most conventional banks are predicted bankrupt. The lowest score of the Z-Score is 1.23. Only one Bank Jtrust Indonesia Tbk (BCIC bank code) is in a healthy category. Bank Mandiri (Persero) Tbk with BMRI bank code, has been increasing from the prediction of bankruptcy category to the prediction of gray area category.Keywords: Altman Z-Score, Conventional Banks Listed on BEI 2013-2016, Prediction of Bankruptcy.

Sign in / Sign up

Export Citation Format

Share Document