Prediksi Financial Distress dengan Model Zmijewski dan Grover pada Perusahaan Retail yang Terdaftar di BEI Selama Tahun 2015 - 2019

2021 ◽  
Vol 5 (1) ◽  
pp. 16-23
Author(s):  
Wiwin Wiranti ◽  
Aris Munandar
Keyword(s):  
Financial Distress ◽  
T Test

Pertumbuhan penjualan perusahaan retail menghadapi tren penyusutan sepanjang 5 tahun terakhir. Banyak perusahaan menghadapi kesulitan keuangan karena kejadian tersebut. Ada beberapa perusahaan yang dalam mencapai target untuk memperoleh laba mengalami kerugian dan berpotensi mengalami kebangkrutan. Penelitian ini bertujuan untuk memprediksi financial distress menggunakan model pengujian zmijewski dan grover pada perusahaan retail yang terdaftar di BEI. Penelitian ini menggunakan analisis dengan model zmijewski dan model grover, menggunakan analisis statistik deskriptif dan pengujian hipotesis dengan uji t-test one sample. Berdasarkan hasil analisis dengan model zmijewski dan grover perusahaan retail yang terdaftar di BEI tidak mengalami financial distress, analisis statistik deskriptif menunjukkan bahwa model dengan tingkat akurasi tertinggi yaitu model zmijewski sebesar 1.43, pengujian hipotesis dengan uji t-test one sampel perusahaan retail tidak berpotensi mengalami financial distress.

scholarly journals THE DETERMINANTS OF HEDGING AND FIRM VALUE: An Empirical Study in Mining Companies Listed on Indonesia Stock Exchange

2018 ◽  
pp. 104
Author(s):  
Garnis Irawanti
Keyword(s):  
Logistic Regression ◽  
Empirical Study ◽  
Financial Distress ◽  
Firm Value ◽  
Stock Exchange ◽  
T Test ◽  
Corporate Hedging ◽  
Determinant Factors ◽  
Mining Companies ◽  
Derivative Instruments

<p class="Keywords">This study aims to determine the determinant factors in the company's hedging decisions and to determine whether the activities of corporate hedging decisions through derivative instruments provide increased value for the company. The sample consisted of 33 mining companies listed on Indonesia Stock Exchange during 2011-2015 period. The method used in this study is logistic regression and independent sample t-test. The result of logistic regression by using variable of financial distress, underinvestment cost, and size showed a positive correlation to corporate hedging decision. Meanwhile, by using an independent sample t-test found that the company's hedging decisions significantly affect the value of firms and the companies with hedging decision activity through derivative instruments have more superior value than companies by using natural hedging decisions.</p><p> </p>

scholarly journals ANALISIS PREDIKSI FINANCIAL DISTRESS DENGAN METODE SPRINGATE (S-SCORE) PADA PT GARUDA INDONESIA TBK

2020 ◽  
Vol 9 (1) ◽  
pp. 45-62
Author(s):  
Marisa Fitriani ◽  
Nurul Huda
Keyword(s):  
Financial Distress ◽  
T Test ◽  
Purposive Sampling

Abstrak: Analisis Prediksi Financial Distress Dengan Metode Springate (S-Score) Pada PT Garuda Indonesia Tbk Penelitian ini bertujuan untuk mengetahui seberapa besarnya prediksi financial distress dan potensi kebangkrutan pada PT Garuda Indonesia Tbk. Jenis penelitian deskriptif kuantitatif. Populasi yang digunakan adalah laporan keuangan PT Garuda Indonesia Tbk yang diakses melalui website www.idx.co.id dalam bentuk laporan neraca (posisi keuangan) dan laba rugi selama delapan tahun terakhir yaitu tahun 2011-2018. Teknik sampling yang digunakan yaitu teknik purposive sampling dengan memperoleh sampel selama tujuh tahun terakhir yaitu tahun 2012-2018. Teknik analisis yang digunakan yaitu metode Sprigate Score (S-score) yang menggunakan empat rasio yaitu rasio modal kerja terhadap total aset (X1), rasio laba sebelum bunga dan pajak terhadap total aset (X2), rasio laba sebelum pajak terhadap total liabilitas (X3), dan rasio penjualan terdapap total aset (X4) serta menggunakan uji t-test one sample. Hasil penelitian ini diperoleh nilai thitung lebih kecil dari pada ttabel (-3.628<1.943). sehingga hipotesis Ho yang berbunyi yaitu:   Sprigate Score (S-Score) pada PT Garuda Indonesia Tbk kurang dari 0.862 dari yang diharapkan diterima yang artinya bahwa PT Garuda Indonesia, Tbk dikategorikan dalam kondisi financial distress dan berpotensi mengalami kebangkrutan selama tujuh tahun terakhir yaitu dari tahun 2012-2018.Kata Kunci: Financial Distress, Kebangkrutan, Springate Score.

scholarly journals THE INFLUENCE OF PROFIT AND CASH FLOW TO PREDICT FINANCIAL DISTRESS

2019 ◽  
Vol 1 (2) ◽  
pp. 191-203
Author(s):  
Tongam Sinambela ◽  
Agus Irawati Marpaung
Keyword(s):  
Data Analysis ◽  
Cash Flow ◽  
Financial Distress ◽  
Stock Exchange ◽  
Estimation Method ◽  
Equation System ◽  
T Test ◽  
Manufacturing Companies ◽  
Test Analysis ◽  
Simultaneous Equation System

This study aims to examine and analyze how profit and cash flow individually or collectively could influence the prediction of financial distress. This study uses quantitative data methods using the Altman Z-Score analysis method. Data analysis is performed through Eviews8 software application. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange (IDX) in the period from 2015-2018. The samples used are all manufacturing companies with subsector of plastic and packaging. Data analysis in this study uses econometric model with a simultaneous equation system and data panel estimation method. The results of the study prove that profit does not have a significant effect on financial distress. This is supported by t-test analysis which result in a smaller t-count compared to t-table, with the number -1.76 <2.05, therefore, H1 is rejected. On the other hand, cash flow has a significant effect on financial distress, supported by the result of t-test analysis which shows that the t-count is bigger than t-table, with the number 2.67> 2.05. Therefore, H2 is accepted. Whereas, both profit and cash flow have a significant influence on financial distress, which the results of the analysis of the F test is f-count is higher that f-table, with the number 17.45> 170.77. As a result, H3 is accepted

scholarly journals Perbandingan Financial Distress Bank Syariah Di Indonesia Dan Bank Islam Di Malaysia Sebelum Dan Sesudah Krisis Global 2008 Menggunakan Model Altman ZScore

2017 ◽  
Vol 3 (11) ◽  
pp. 900
Author(s):  
Siti Zulaikah ◽  
Nisful Laila
Keyword(s):  
Financial Distress ◽  
Quantitative Method ◽  
T Test ◽  
Islamic Banks ◽  
Z Score ◽  
Global Crisis ◽  
Significance Level ◽  
Purposive Sampling ◽  
Significant Difference ◽  
Before And After

This study aims to find out the comparison between the prediction of financial distress of Islamic Banks in Indonesia and that of Islamic Banks in Malaysia before and after the global crisis 2008 using quantitative method and purposive sampling. The prediction of financial distress was done by using Altman Z-score measuring. The technique used to examine the financial distress is Mann-Whitney, and for those after the crisis were examined using Independent sample T-test. The result of this research shows that there is a significant difference between Islamic banks in Indonesia and those in Malaysia either before or after the global crisis 2008 with 5% significance level. The Islamic banks in Indonesia are in secure zone either before or after the crisis. However, the Islamic banks in Malaysia are in grey areawhich cannot be made sure of the bankruptcy either before or after the crisis.

scholarly journals Analisis Pengaruh Pertumbuhan Penjualan dan Kepemilikan Manajerial terhadap kondisi Financial Distress pada Perusahaan Manufaktur yang ada di Indonesia

2019 ◽  
Vol 4 (01) ◽  
pp. 54-63
Author(s):  
Rita Dwi Putri
Keyword(s):  
Financial Distress ◽  
Sampling Method ◽  
Stock Exchange ◽  
T Test ◽  
Coefficient Of Determination ◽  
Managerial Ownership ◽  
Sales Growth ◽  
Manufacturing Companies ◽  
Significance Level

This study aims to determine the effect of Sales Growth and Managerial Ownership on the condition of Financial Distress in manufacturing companies in Indonesia in 2015-2017. The sample of this study were 13 manufacturing companies listed on the Indonesia Stock Exchange, with a purposive sampling method. Based on the results of statistical analysis by using the t test with the value of t arithmetic equal to -1,249 ≤ value of t table 2.028 and significance of 0.220 ≥ from the significance level of 0.05, partially Managerial Ownership does not affect the condition of Financial Distress in the manufacturing company studied. This is proven by using the t test with the value of t count equal to 1.419 19 t table value 2.028 and significance 0.165 ≥ from the significance level of 0.05. Simultaneously Sales Growth and Managerial Ownership do not affect the condition of Financial Distress in the manufacturing companies studied with F count of 1.789 ≤ from the value of F table 3.32 and significance of 0.182 ≥ from the significance level of 0.05. The results of the coefficient of determination of the value of R Square are obtained at 0.090 or 9%. This means that the independent variables namely Sales Growth (X1) and Managerial Ownership (X2) have an influence on the dependent variable, namely the Financial Distress (Y) condition of 9% while the remaining 91% is influenced by other variables.

scholarly journals ANALISIS PERBANDINGAN MODEL SPRINGATE DAN ALTMAN Z SCORE TERHADAP POTENSI FINANCIAL DISTRESS (STUDI KASUS PADA PERUSAHAAN SEKTOR KOSMETIK YANG TERDAFTAR DI BURSA EFEK INDONESIA)

2017 ◽  
Vol 5 (1) ◽  
pp. 15
Author(s):  
Anggi Meiliawati ◽  
Isharijadi Isharijadi
Keyword(s):  
Financial Distress ◽  
T Test ◽  
Z Score ◽  
Purposive Sampling

<p>Penelitian ini bertujuan untuk mengetahui ada atau tidak perbedaan hasil prediksi potensi <em>financial distress</em> antara model Springate dan model Altman Z Score serta untuk mengetahui model dengan tingkat akurasi tertinggi dalam memprediksi potensi <em>financial distress </em>perusahaan sektor kosmetik yang terdaftar di Bursa Efek Indonesia. Jenis penelitian yang digunakan didalam penelitian ini adalah analisis kuantitatif. Populasi yang digunakan adalah seluruh perusahaan sektor kosmetik yang terdaftar di Bursa Efek Indonesia. Teknik pengambilan sampel dengan teknik <em>purposive sampling</em>. Teknik analisis yang digunakan dalam penelitian ini adalah analisis <em>paired sampel t-test</em>.</p><p>Hasil penelitian ini menunjukan bahwa model Springate dan Altman Z Score terdapat perbedaan signifikan dalam memprediksi potensi <em>financial distress </em>pada perusahaan sektor kosmetik yang terdaftar di Bursa Efek Indonesia, hal ini dikarenakan penggunaan rasio yang berbeda dalam perhitungan tingkat kesulitan keuangan.  Hasil berikutnya menunjukan bahwa model Springate merupakan model terakurat dalam memprediksi potensi <em>financial distress</em> perusahaan sektor kosmetik yang terdaftar di Bursa Efek Indonesia dengan presentase akurasi sebesar 91,66%, dimana tingkat akurasi model Altman hanya sebesar 60,41%, hal ini dikarenakan dalam model Springate menggunakan rasio <em>Earning Before Taxes to Current Liabilities</em> (EBTCL), dimana rasio ini dinilai lebih dominan dalam mencerminkan kondisi perusahaan sektor kosmetik yang terdaftar di Bursa Efek Indonesia.</p><p> </p><p><br /><em></em></p>

scholarly journals Analisis Kemampuan Rasio Likuiditas dan Profitabilitas dalam Mengukur Financial Distress

2019 ◽  
Vol 3 (1) ◽  
pp. 145-152
Author(s):  
Muhammad Iksan Sopian ◽  
Erry Sunarya ◽  
Kokom Komariah
Keyword(s):  
Financial Distress ◽  
Statistical Test ◽  
T Test ◽  
Coefficient Of Determination ◽  
Purchasing Decisions ◽  
F Test ◽  
Analysis Techniques ◽  
Simultaneous Test ◽  
Analysis Technique

Financial distress is a condition where the results of the company's performance are unable to meet the company's obligations. The purpose of this research is to find out the effect of Liquidity and Profitability in measuring financial distress in PT .eterindo wahanatama Tbk and PT. Waskita Karya Tbk. The analysis technique used is multiple linear analysis techniques, and for hypothesis testing is a partial statistical test (t test) and simultaneous test (f test). The results of the t test show that liquidity (CR) (X1) has an effect but not significant to financial distress, Profitability (ROA) (X2) has a significant effect on financial distress. Based on the simultaneous F test means that together Liquidity (CR) and Profitability (ROA) have no significant effect on purchasing decisions (Y). Based on the test of the coefficient of determination of 0.354 it can be interpreted that the effect of Liquidity (CR) and Profitability (ROA) on purchasing decisions is equal to 28.4%. The remaining 71.6% is influenced by other factors not explained in this study. Keywords : Liquidity, Profitability, financial Distress.

scholarly journals The influence of financial ratios and companies size to predict conditions of financial distress: researches on companies listed on indonesian stock exchange for the period 2013-2017

2021 ◽  
Vol 6 (1) ◽  
pp. 27
Author(s):  
Dahlia Dahlia
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Regression Testing ◽  
T Test ◽  
Company Size ◽  
Current Ratio ◽  
Natural Logarithm ◽  
Equity Ratio ◽  
Turn Over ◽  
Research Period

This research aims to determine the condition of financial distress by using the Indicator Current ratio, Debt to Equity ratio, Total Assets Turn Over and company size (SIZE) measured in the natural logarithm of Total Assets.The research period was 2013-2017 by dividing 2 groups of companies, namely between companies that suffered losses and companies that did not suffer losses. Data analysis, with Descriptive, Logistic Regression testing and Independent Sample T test. The results of the research obtained that the hypothesis for Current ratio and SIZE does not match the results; Total Assets Turn Over affects bankruptcy and Debt to equity ratio has no effect on bankruptcy.From the different tests obtained results there are significant differences between the group of companies in financial distress conditions and companies that are safe.Keywords: financial distress, current ratio, debt to equity ratio, total asset turn over, size, different test T test 

scholarly journals PENGARUH CORPORATE GOVERNANCE TERHADAP KONDISI FINANCIAL DISTRESS PADA PERUSAHAAN CV. OTOPRO MOBILINDO

2018 ◽  
Author(s):  
Firma Yanti ◽  
Febryandhie Ananda
Keyword(s):  
Corporate Governance ◽  
Regression Analysis ◽  
Significant Influence ◽  
Financial Distress ◽  
Financial Stress ◽  
Financial Statements ◽  
T Test ◽  
Financial Condition ◽  
Simple Regression Analysis ◽  
Simple Regression

Financial distress is a stage of decreasing the company's financial condition, bad finance will result in bankruptcy of the company. This study aims to analyze the influence of corporate governance on financial distress. The indicator in this study is profitability, this study uses 36 samples from financial statements. CV. Otopro Mobilindo in 2015 - 2017 which was then analyzed using the SPSS For Windows 23. application This study used a classic assumption test consisting of normality, linearity and autocorrelation tests. The results of simple regression analysis show that the coefficient value of the corporate governance variable has a significant t test (t count). This shows that there is a negative and significant influence on corporate governance variables on financial distress in CV. Otopro Mobilindo. From the results of the determination test shows that the R Square coefficient increases and the variable financial distress conditions can be explained by corporate governance variables. While the rest is influenced by other variables not examined in this study related to financial stress.

scholarly journals AN ANALYTICAL STUDY OF FINANCIAL DISTRESS AND PROFITABILITY OF SBI AND ICICI BANK

2017 ◽  
Vol 5 (8) ◽  
pp. 79-84
Author(s):  
Priyanka ◽  
Karamvir Sheokand
Keyword(s):  
Financial Crisis ◽  
Financial Distress ◽  
Analytical Study ◽  
Good Health ◽  
Research Paper ◽  
T Test ◽  
Z Score ◽  
Short Term ◽  
Financially Distressed ◽  
Score Model

Financial distress is a situation in which a firm or company is not in position to pay its monetary obligation and debts and financial crisis start in the unit. It depicts the short term solvency of the banks. Profitability is the ability of business to earn profit. Profitability is the indication of good health of any business and it increase the value of a business. The main aims of this research paper are to investigate the level of financial distress in the SBI and ICICI bank and difference in the profitability of both banks ranging from 2013 to 2017. For measurement of the level of financial distress and profitability Altman Z-Score model and Independent t-test are used respectively. Result revealed that profitability of both banks was identical. Further study also revealed that both these banks were financially distressed.

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