scholarly journals Analysis of The Effect Of Financial Distress Conditions On Activity / Efficiency Ratios In Manufacturing Companies In Indonesian Stock Exchange During The Covid Period

2021 ◽  
Vol 1 (3) ◽  
pp. 9-22
Author(s):  
Aryono Yacobus ◽  
Hasa Nurrohim KP
Keyword(s):  
Financial Distress ◽  
Manufacturing Industry ◽  
Activity Ratio ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Z Score ◽  
Value Analysis ◽  
Balance Sheets ◽  
Industry Sector ◽  
Activity Ratios

The study aims to retest the financial ratios derived from balance sheets, income statements, and cash flow statements. This research is also to find out the effect of financial distress conditions on the activities of companies in the manufacturing industry sector during the Covid period. Is there an influence on financial to activity ratios for companies experiencing financial distress during the covid period?. This study used logistical statistical analysis while to determine whether the company experienced financial distress or not, using Altman's Z Score value analysis. After testing, it was found that the ratio of cash position and activity ratio had a significant effect on companies experiencing financial distress.

scholarly journals Model Altman Z-Score Terhadap Kinerja Keuangan di Bursa Efek Indonesia Melalui Pendekatan Regresi Logistik

2019 ◽  
Vol 1 (1) ◽  
pp. 63-72
Author(s):  
Nurul Fitri ◽  
Rachma Zannati
Keyword(s):  
Regression Analysis ◽  
Financial Distress ◽  
Manufacturing Industry ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Z Score ◽  
Return On Assets ◽  
Current Ratio ◽  
Analysis Technique ◽  
Equity Ratio

The purpose of this study is to confirm the determinants of financial performance on the condition of financial distress companies through the Altman Model (Z-score) approach. The sample in this study is a manufacturing industry sub-sector company which is listed on the Indonesia Stock Exchange for the period 2013 to 2017. The analysis technique of this study uses logistic regression analysis, and the findings prove that the Current Ratio and Debt to Equity Ratio cannot predict the condition of Financial Distress. Whereas Return On Assets can predict Financial Distress in manufacturing companies. The implications of this finding can contribute to companies in maintaining financialperformance stability so as to avoid financial distress. 

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 DOES FINANCIAL DISTRESS HAS AN EFFECTS ON AUDIT REPORT LAG? (STUDY ON MANUFACTURING COMPANIES LISTED IN INDONESIA STOCK EXCHANGE)

AKUNTABILITAS ◽  
2021 ◽  
Vol 15 (1) ◽  
pp. 19-34
Author(s):  
Nur Khamisah ◽  
Anisa Listya ◽  
Nyimas Dewi Murnila Saputri
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Negative Relationship ◽  
Manufacturing Companies ◽  
Z Score ◽  
Audit Report ◽  
Audit Process ◽  
Final Sample ◽  
Cpa Firm ◽  
Big Four

This study aims to examine the effect of financial distress on audit report lag and how the size of CPA Firm moderate the effect between financial distress and audit report lag. This study was held at manufacturing companies listed on the Indonesia Stock Exchange in 2017-2019. The final sample there were 318 observations, with a purposive sampling method. The variable financial distress is measured by the Altman Z Score proxy, which is the best model for measuring the state of financial distress being experienced by the company. The size of CPA Firm is measured by dummy variables, given a value of 1 if it is a Big Four CPA Firm and 0 if it is not a Big Four CPA Firm. This study use multiple linear regression to analyze the data. Based on the results of the analysis found that financial distress has negative and significant effect on audit report lag. It means that the smaller the Z Score of a company (which means the company is experiencing financial distress), the longer the financial statement audit process will be. This negative relationship between financial distress is strengthened by the size of CPA Firm.

scholarly journals PERAN CORPORATE GOVERNANCE DALAM MENURUNKAN KEBANGKRUTAN PADA PERUSAHAAN DI INDONESIA

2017 ◽  
Vol 21 (3) ◽  
pp. 391
Author(s):  
Tasya Hilaliya ◽  
Farah Margaretha
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Financial Distress ◽  
Manufacturing Industry ◽  
Negative Impact ◽  
Stock Exchange ◽  
Z Score ◽  
Panel Data Regression ◽  
Data Regression ◽  
Governance Practices

This research examines the influence of Corporate Governance on Firm Performance measured by Tobin's Q and Financial Distress measured by Z-score. The samples used were 72 companies engaged in the manufacturing industry are listed on the Indonesia Stock Exchange (BEI) for five years from 2011 to 2015. The analytical methods used in this research is panel data regression, discriminant analysis, and logistic regression. The results showed that (I) there is no significant impact between corporate governance practices on firm performance. (2) there is negative impact between corporate governance practices on financial distress. Then, the companies need to increase corporate governance in order to avoid possibility of financial distress and for the investor before making an investment should consider the factors that affect the firm performance and financial distress

scholarly journals COMPARISON OF ALTMAN'S Z - SCORE MODEL AND ALTMAN'S Z''- SCORE MODEL ON THE SAMPLE OF COMPANIES WHOSE SHARES ARE INCLUDED IN THE REPUBLIC OF SRPSKA STOCK EXCHANGE INDEX

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Goran Radivojac ◽  
Aleksandra Krčmar ◽  
Boško Mekinjić
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Emerging Market ◽  
Manufacturing Companies ◽  
Financial Health ◽  
Z Score ◽  
Insolvency Risk ◽  
Privately Held Firms ◽  
The Republic ◽  
Score Model

In this paper, we analysed companies whose shares are included in the Republic of Srpska Stock Exchange Index (BIRS), using Altman's Z-Score model and Altman's Z"-Score model, in order to determine their insolvency risk. Altman's Z-Score is a combination of five weighted financial ratios used to estimate the likelihood of financial distress, and possible bankruptcy of the observed companies. It is used widely by auditors, accountants, commercial banks, and other organizations to assess the financial health of their clients. Altman also developed revised versions of the model to assess the financial health of privately-held firms and non-manufacturing companies, as well as companies in emerging markets - Altman's Z'- Score model and Altman's Z" - Score model. The results of our research on a sample of 14 companies whose shares are included in BIRS show that, although it is an emerging market, Altman's Z-Score model gives better results that indicate much-needed caution when drawing conclusions about the observed companies.

scholarly journals IMPACT ON PROFIT, CASH FLOW, COMPANY SIZE AND FINANCIAL DISTRESS

2020 ◽  
Vol 4 (1) ◽  
pp. 21-26
Author(s):  
Liza Zuhrianto ◽  
Sri Mulyani ◽  
Ratna Wijayanti Daniar Paramita
Keyword(s):  
Cash Flow ◽  
Consumer Goods ◽  
Financial Distress ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Sampling Technique ◽  
Manufacturing Companies ◽  
Industry Sector ◽  
Consumer Goods Industry

The purpose of this study was to determine the effect of earnings, cash flow, and firm size on the financial distress of manufacturing companies in the consumer goods industry sector listed on the Indonesia Stock Exchange in 2016-2018. This type of research is quantitative research. The type of data in this study is secondary data. Data analysis techniques used multiple linear regression analysis. This study uses a purposive sampling technique to get samples according to specified criteria. The number of samples selected based on the criteria in this study is 32 companies with a population of 38 manufacturing companies in the consumer goods industry sector, which are listed on the Indonesia Stock Exchange in 2016-2018. The results showed that profits measured using a return on assets affect financial distress

scholarly journals Analisis Altman Z-Core pada Perusahaan Manufaktur Sub Sektor Otomotif yang Terdaftar di Bursa Efek Indonesia

2012 ◽  
Vol 13 (2) ◽  
pp. 135-148
Author(s):  
Andreas Suhendi ◽  
Keyword(s):  
Financial Distress ◽  
Research Method ◽  
Stock Exchange ◽  
Ratio Method ◽  
Manufacturing Companies ◽  
Z Score ◽  
Financial Ratio ◽  
Analysis Techniques ◽  
Score Model ◽  
Descriptive Method

This research aims to know the financial performance of companies with the Altman Z-Score Model in the Automotive Sub-Sector Manufacturing Companies Listed on the Indonesia Stock Exchange in 2016-2018. The research method used in this study is a descriptive method with data analysis techniques using the financial ratio method. The results showed that PT. Astra International Tbk, PT. Astra Otoparts Tbk, PT. Gajah Tunggal Tbk and PT. Indospring Tbk is safe from the threat of bankruptcy, while the highest average Z-Score is achieved by PT Selamat Sempurna Tbk and the lowest average Z-Score is achieved by PT Indomobil Sukses International Tbk. Thus, the Company is expected to maintain company liquidity, restructure debt, minimize receivables, increase profit levels and maximize marketing in order to increase sales so that the potential for financial distress in the company can be minimized.

The Effect of Audit Opinion, Audit Tenure, Financial Distress, and Company Size on Audit Switching with Management Changes as Moderating Variables in Manufacturing Companies in the Consumer Goods Industry Sector Listed on the IDX in 2009-2019

2021 ◽  
Vol 8 (8) ◽  
pp. 64-75
Author(s):  
Hidayawiya . ◽  
Isfenti Sadalia ◽  
Erlina .
Keyword(s):  
Consumer Goods ◽  
Financial Distress ◽  
Stock Exchange ◽  
Sample Selection ◽  
Sampling Technique ◽  
Company Size ◽  
Manufacturing Companies ◽  
Audit Opinion ◽  
Industry Sector ◽  
Consumer Goods Industry

This study aims to determine the effect of the audit opinion, audit tenure, financial distress and company size on audit switching. In addition, this study also tries to prove whether management change can be used as a moderator in the research model. The type of research used is descriptive quantitative research. This research was conducted on the Consumer Goods Industry Sector Companies listed on the Indonesia Stock Exchange for 2009-2019. The sample selection using the purposive sampling technique shows that the research sample is 22 companies with 11 years of research. The number of observations in this study is 242 data. The data analysis method used in this research is logistic regression analysis which is carried out with the help of SPSS 25. The results show that audit opinion and audit tenure positively and significantly affect audit switching in the Consumer Goods Industry sector companies listed on the Indonesia Stock Exchange in 2009-2019. Meanwhile, financial distress and company size do not affect audit switching. The moderating variable, namely change in management, can be used as a moderator because it is proven to strengthen or weaken the independent variables used in this study. Keywords: Audit opinion, audit tenure, financial distress, company size, audit switching.

scholarly journals Pengaruh pergantian manajemen, opini audit, dan kesulitan keuangan (financial distress) perusahaan terhadap pergantian auditor (auditor switching)

2019 ◽  
Vol 7 (2) ◽  
Author(s):  
Endistria Verosa Augusty ◽  
Romanus Wilopo
Keyword(s):  
Consumer Goods ◽  
Financial Distress ◽  
Stock Exchange ◽  
Auditor Independence ◽  
Manufacturing Companies ◽  
Audit Opinion ◽  
Auditor Switching ◽  
Industry Sector ◽  
Consumer Goods Industry ◽  
Management Changes

To avoid the unwanted things related the auditor independence, the company should make an action to do mandatory auditor switching. But, there are several company that do a voluntary auditor switching. This study aim to find empirical evidence on the factor affect the manufacturing companies especially consumer goods industry sector listed on Indonesia Stock Exchange such as management changes, audit opinion, and financial distress to do a voluntary auditor switching. The data used in this research are the manufacturing companies especially consumer goods industry sector listed on Indonesia Stock Exchange during 2011-2015. A total of 33 manufacturing companies especially consumer goods industry sector are used as the sample. Method of analysis used is logistic regression analysis. Overall, the finding showed that there is no significant evidence that management changes, audit opinion, and financial distress as the predicted variable for auditor switching. Suggestion for the future research is to extend survey area coverage and add more variable that can influence auditor switching.

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.

Sign in / Sign up

Export Citation Format

Share Document