Analisis Potensi Kebangkrutan Dengan Menggunakan Model Prediksi Finansial Distrees Ohlson, Grover, Altman Z-Score Pada Perusahaan Property & Real Estate

2018 ◽  
Vol 13 (2) ◽  
Author(s):  
Yohanes Reva Cahyo K ◽  
Maria Magdalena PD
Keyword(s):  
Real Estate ◽  
Financial Distress ◽  
Global Property ◽  
Z Score ◽  
Foreign Investors ◽  
Property Companies ◽  
Almost All

The Property Industry will experience an increase or decrease in profit making. So, the company must anticipate that the company does not experience financial distress or lead to colaps. Because the company has a goal that utilizes existing sources of funds and resources as optimal as possible so that the company does not suffer losses that can ultimately lead to colaps. Industry Property in Indonesia is increasingly dragged into large debt and is part of the global property company debt that has accumulated. Debt of global property companies is said to reach US $ 25 trillion, and domestic developers are affected because almost all property companies are owned by foreign investors.

ANALISIS INDEX ALTMAN Z-SCORE DALAM MEMPREDIKSI KONDISI FINANCIAL DISTRESS (Studi Empiris Perusahaan Properti dan Real Estate Sub Sektor Perhotelan Tahun 2012-2017)

Kinerja ◽  
2018 ◽  
Vol 1 (01) ◽  
pp. 48-57
Author(s):  
Maryam Dunggio ◽  
Nur Aufa Mufidah
Keyword(s):  
Real Estate ◽  
Financial Distress ◽  
Z Score ◽  
Grey Area

Penelitian ini bertujuan untuk menganalisis Index Altman dalam memprediksi kondisi financialdistress pada perusahaan properti dan real estate tahun 2102-2017. Metode penelitian yangdigunakan adalah Altman Z-score. Teknik pengumpulan data yang dilakukan secara sekunderyaitu data yang diperoleh dari laporan keuangan tahunan yang dipublikasikan oleh setiapperusahaan. Hasil yang diperoleh dalam penelitian ini menunjukkan bahwa pada tahun 2012terdapat 2 perusahaan yang mengalami zona aman dan 8 perusahaan mengalami financial distress,tahun 2013 terdapat 2 perusahaan mengalami zona aman dan 1 perusahaan grey area dan 7perusahaan financial distress, tahun 2014 terdapat 2 perusahaan zona aman dan 8 perusahaanfinancial distress, tahun 2015 terdapat 2 perusahaan mengalami zona aman dan 8 perusahaanfinancial distress, tahun 2016 terdapat 2 perusahaan zona aman, 1 grey area dan 7 financialdistress, tahun 2017 terdapat 2 zona grey area dan 8 mengalami financial distress

scholarly journals Analisis Pengaruh Rasio Keuangan Terhadap Potensi Terjadinya Financial Distress

2020 ◽  
Vol 16 (3) ◽  
pp. 297-311
Author(s):  
Amila Rezky Mufida
Keyword(s):  
Real Estate ◽  
Financial Distress ◽  
Market Value ◽  
Z Score ◽  
Working Capital ◽  
Retained Earnings

Penelitian ini bertujuan untuk menganalisis pengaruh rasio Working Capital to Total Assets (WCTA),  Retained Earnings to Total Assets (RETA), Earning Before Interest and Taxes to Total Assets (EBITTA), dan Market Value of Equity to Total Liabilities (MVETL) terhadap potensi terjadinya financial distress. Penelitian ini menggunakan model Altman Z-Score Modifikasi untuk mengukur prediksi financial distress dengan objek penelitian yaitu perusahaan jasa sub sektor property dan real estate yang terdaftar di BEI periode 2014-2018. Penelitian ini menggunakan pendekatan kuantitatif dan menggunakan metode purposive samplingdalam menentukan 10 perusahaan sebagai sampel. Data sekunder yang digunakan diperoleh dari situs BEI dan situs perusahaan serta dianalisis dengan regresi logistik binary. Hasil penelitian ini menunjukkan bahwa rasio WCTA, EBITTA, dan MVETL secara parsial berpengaruh terhadap financial distress, sedangkan rasio RETA secara parsial tidak berpengaruh terhadap financial distress.

scholarly journals The Effect Of Financial Ratios To Financial Distress Using Altman Z-Score Method In Real Estate Companies Listed In Indonesia Stock Exchange Period 2014 - 2018

2019 ◽  
Vol 19 (2) ◽  
pp. 119
Author(s):  
Ouw Desiyanti ◽  
Wahyoe Soedarmo ◽  
Kristian Chandra ◽  
Kusnadi Kusnadi
Keyword(s):  
Real Estate ◽  
Financial Distress ◽  
Stock Exchange ◽  
Financial Ratios ◽  
Z Score ◽  
Return On Equity ◽  
Financial Ratio ◽  
The Real Estate ◽  
Financial Condition ◽  
Gray Areas

<p><strong><em>Purpose</em></strong><em> - The purpose of this paper is to find out the effect of Financial Ratio on Financial Distress using Z-Score Altman method.</em></p><p><strong><em>Design/Methodology/approach</em></strong><em> - This paper uses data from 21 property and real estate companies listed in BEI period 2014-2018 with 105 data observations. The variables used are ROE (Return On Equity), DER (Debt to Equity Ratio), CR (Current Ratio), WCR (Working Capital Ratio) and Z-Score.</em></p><p><strong><em>Findings </em></strong><em>- The results show that ROE and WCR have a positive significant effect on Z-Score Altman's financial distress, DER and CR have negative significant effect on Z-Score Altman's financial distress. While simultaneously shows that at least one variable have a significant effect on Z-Score Altman financial distress.</em></p><p><em>The financial condition of companies in the real estate sector has worsened over the years, marked by the increasing number of companies that were in financial distress from 5 companies in 2014 to 9 companies in 2018. Likewise with companies in the financial condition of gray areas from 8 companies in 2014 became 9 companies in 2018. While companies with a healthy financial condition decreased from 8 companies in 2014 to 3 companies in 2018.</em></p><p><strong><em>Research limitation/implications</em></strong><em> - The sample is small, and consequently, findings may not be generalisable to the population.</em></p><p><strong><em>Originality/value</em></strong><em> - This paper aims to obtain empirical evidence of how financial ratios affect financial distress and also the exposure of financial distress probabilities to real estate companies that are used as research samples.</em></p>

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.

Analisis Terhadap Financial Distress pada Perusahaan Sub Sektor Properti dan Real Estate di BEI 2011-2015

2017 ◽  
Vol 9 (2) ◽  
pp. 21-25
Author(s):  
Adeh Ratna Komala ◽  
Nadia Laksmita
Keyword(s):  
Real Estate ◽  
Financial Distress ◽  
Sampling Unit ◽  
Purposive Sampling

Penelitian ini dilakukan pada perusahaan sub sektor properti dan real estate terdaftar di Bursa Efek Indonesia pada periode 2011-2015. Fenomena yang terjadi yaitu pada beberapa perusahaan sub sektor properti dan real estate yang mengalami kesulitan keuangan ketika perusahaan memiliki arus kas dan likuiditas yang sehat. Penelitian ini juga bertujuan untuk mengetahui apakah arus kas dan likuiditas berpengaruh signifikan terhadap financial distress. Metode yang digunakan dalam penelitian ini adalah metode deskriptif verifikatif dengan pendekatan kuantitatif. Metode pengambilan sampel dalam penelitian ini menggunakan nonprobability sampling dengan pendekatan purposive sampling. Unit analisis dalam penelitian ini adalah 105 laporan keuangan tahunan perusahaan yang diambil pada tahun 2011-2015. Sedangkan analisis data menggunakan regresi linier berganda. Pengujian hipotesis dalam penelitian ini menggunakan statistik uji t dengan SPSS Versi 16.0 for Windows. Hasil dari penelitian ini menunjukan bahwa arus kas berpengaruh terhadap financial distress, demikian juga dengan likuiditas yang berpengaruh terhadap financial distress pada pada perusahaan sub sektor properti dan real estate yang terdaftar di Bursa Efek Indonesia.

PENGARUH PROFITABILITAS, LEVERAGE DAN UKURAN PERUSAHAAN TERHADAP LAMA WAKTU LAPORAN AUDIT

Equity ◽  
2016 ◽  
Vol 19 (1) ◽  
pp. 68
Author(s):  
Syifa Tamara Putri ◽  
Samin Samin
Keyword(s):  
Linear Regression ◽  
Real Estate ◽  
Multiple Linear Regression ◽  
Firm Size ◽  
Sampling Method ◽  
Stock Exchange ◽  
Z Score ◽  
Audit Report ◽  
Significance Level ◽  
Outlier Test

This study aims to test and provide empirical the effect of profitability, leverage and firm size of the audit report lag. The population in this study is a sub company property and real estate sectors listed on the Indonesia Stock Exchange 2012-2014. Sample of 34 companies was selected by purposive sampling method. The data used in this study as much as 102 samples. This study uses several stage of calculation, using outlier test that is by converting the data into a standardized score or so-called z-score. After going through the process of outlier samples were chosen in this study to 93 samples. Analysis of the data using multiple linear regression with a significance level of 5% and determine the hypothesis used t test and f test. The results test showing that profitability, leverage and firm size are simultaneous positive and significant effect on audit report lag. The results test this study indicate that profitability has significance on audit report lag are partial. Meanwhile leverage and firm size has no significance on audit report lag

Does Financial Distress Using Altman Z-Score Capital Affect Stock Price?

2020 ◽  
Vol 24 (02) ◽  
pp. 3127-3134
Author(s):  
Sakina Ichsani ◽  
Vincentia Wahju Widajatun ◽  
Dede Hertina
Keyword(s):  
Financial Distress ◽  
Stock Price ◽  
Z Score
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