Analisis Metode Altman (Z-Score) Sebagai Alat Untuk Memprediksi Kebangkrutan Pada Perusahaan Batubara Yang Tercatat DI Bursa Efek Indonesia Periode 2014 €“ 2018 (original) (raw)
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2017
Tujuan dari penelitian ini adalah untuk mengetahui prediksi kebangkrutan dan untuk mengetahui model yang paling tepat digunakan sebagai prediksi kebangkrutan perusahaan pertambagan sub sektor batubara yang terdaftar di Bursa Efek Indonesia tahun 2012 hingga 2015 dengan mengunakan model Altman Z-Score, Spingate, Zmijewski, dan Grover. Penelitian ini menggunakan metode komparatif kuantitatif. Hasil dari penelitian ini menunjukkan bahwa PT Tambang Batu Bara Bukit Asam (Persero) Tbk (PTBA), PT Bara Jaya Internasional (ATPK) dan PT Golden Eagle Energy Tbk (SMMT) diprediksikan tidak berpotensi mengalami kebangkrutan. Sedangkan perusahaan yang diprediksi berpotensi mengalami kebangkrutan adalah PT Perdana Karya Perkasa Tbk (PKPK). Model Zmijewski merupakan model yang tepat digunakan dalam memprediksi potensi kebangkrutan perusahaan ini.
Abstract This research aimed to predict bankruptcy using the Altman Z-Score and Springate on mining companies sub-sector oil and gas companies listed on the Stock Exchange 2009-2012. One of the things behind the decline in revenues caused by the company's oil and gas industry. And a decline in oil production from year to year. By using quantitative descriptive method, the population in this study is a sub-company financial statements of oil and gas mining. The type of sample used is purposive sampling to obtain a sample of five companies, namely Prabu Energi Tbk (ARTI), Benakat Petroleum Energy Tbk (BIPI), Elnusa Tbk (ELSA), Energi Mega Persada Tbk (ENRG), dan Radiant Utama Interinsco Tbk (RUIS). The results showed the company's bankruptcy prediction mining and oil and gas sub-sector model with Altman Z-Score, for ARTI 2009 in the category of distress zone, in the following years in the category of gray zone. BIPI always get into the safe category. ELSA in 2009 and 2010 are in the category of a safe zone, and in the next two years are in the gray zone category. For each year the ENRG always fall into the category distress zone. Ruis 2009 in the category of safe zone, 2010 in the category of gray zone, and the following year in the category distress zone. Prediction of corporate bankruptcy in mining and oil and gas sub-sector with Springate models, which enter into the healthy category, namely ELSA company in 2009 and Ruis company in 2009 and 2010. Additionally, all companies would be predicted to fall into the category of bankruptcy because bankruptcy. Keywords: Altman Z-Score, Bankruptcy, Financial statements, Springate
2020
Tujuan dari penelitian ini adalah untuk mengetahui perusahaan pertambangan batubara mana saja yang terdaftar di Bursa Efek Indonesia yang diperkirakan tidak bangkrut, diprediksi berada di grey area dan diprediksi akan bangkrut pada periode 2015-2017 berdasarkan analisis menggunakan metode Altman Z-Score. Objek penelitian adalah dua puluh dua perusahaan pertambangan batubara. Data yang digunakan dalam penelitian ini adalah ringkasan dari laporan keuangan tahunan perusahaan yang terdaftar di Bursa Efek Indonesia. Teknik analisis yang digunakan adalah model prediksi kebangkrutan Altman Z-Score dengan menggunakan rumus Z "=
Jurnal Manajemen Terapan dan Keuangan, 2017
This study aims to determine the financial statements prior to the bankruptcy can be used to predict the rate of bankruptcy with Altman Model and Foster on coal mining company listed on the Indonesia Stock Exchange. Model classification Altman Z score Z score> 2.90 is classified as a healthy company, while the company has a Z score <1.20 were classified as potentially bankrupt company. Furthermore, scores between 1.20 to 2.90 is classified as a company in the gray area or the gray area. While the Model Z score Foster use the "Cut-off Point" Z = 0.640, so companies that have Z < 0.640 belongs to a group of companies that go bankrupt, while if Z > 0.640 included in the group of companies that are not bankrupt. After that tested the difference between the predicted results using independent samples t test. The results of the analysis of financial ratios and
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2016
The purpose of this research is to predict the bankruptcy on food and beverage companies were listed on the Indonesia stock exchange period 2012-2014. Food and beverage companies was chosen because the industrial sector continues to undergo development in developed and developing countries one of them in Indonesia. Sampling techniques in the study using a Purposive Sampling and random sampling so that the sample used in this study there are 10 food and beverage companies. Technique of data analysis used the bankruptcy prediction model of Altman Z-score. By using five variables that represent the ratio of the liquidity of the x 1, x 2 and X 3 activity Profitability X 4 and x 5. With the Z-score formula = 1.2 X1 + 1,4 X2 + 3,3 X 3 + 0,6 X 4 + 1,0 X 5. With the assessment criteria of the Z-score > 2.99 categorized as a healthy company. 1,81 < Z-score < 2,99 categorized as companies that are in the grey area and so the possibility of survivors and likely bankrupt the same magni...
Jurnal PLANS : Penelitian Ilmu Manajemen dan Bisnis, 2015
This study examines the analysis of bankruptcy which uses a model Altman Z-Score 1983 once studied the effect of variable ratio of Working Capital to Total Assets (X1), Retained Earnings to Total Assets (X2), Earnings Before Interest and Tax to Total Assets (X3), Book Value of Equity to Book Value of Total Debt (X4), and Sales to Total Assets (X5) against bankruptcy for companies that went bankrupt or for companies that are not bankrupt by the number of samples (purposive sampling as a sampling technique ) as many as 15 companies. The purpose of this study is to analyze the financial ratios Altman model to explain the company's financial condition foods and beverages as a first step in anticipation of bankruptcy. The analysis method in this research is to perform calculations using the Altman Z-Score Revised (1983) and multinomial logit analysis. Testing is done with the first models prerequisite analysis, testing normality with the overall result is a variable based test One Sa...
Implementasi Altman Z-Score Untuk Memprediksi Kebangkrutan Perusahaan Privat di Batam
Abstrak Metode Altman z-score telah banyak digunakan untuk memprediksikan kecenderungan kebangkrutan perusahaan publik baik di dalam maupun luar negeri. Dalam perkembangannya, metode ini telah dimodifikasi sehingga dapat memprediksi kebangkrutan perusahaan privat. Namun karena keterbatasan data, belum ada penelitian di Indonesia yang mengimplementasikan metode Altman untuk perusahaan privat. Oleh sebab itu, penelitian ini bertujuan untuk mengimplementasikan metode Altman terhadap sebuah perusahaan privat di Batam dan mengevaluasi apakah prediksinya sesuai dengan kondisi perusahaan yang sebenarnya. Jenis penelitian yang diterapkan adalah studi kasus pada PT XYZ selama tahun 2011 sampai dengan 2013 menggunakan teknik observasi, wawancara, dan studi dokumentasi. Data dianalisis menggunakan teknik analisis deskriptif kualitatif. Pada penelitian ini, penulis menyimpulkan bahwa metode Altman cukup sesuai diterapkan pada perusahaan privat di Batam. Penulis berharap penelitian ini dapat menjadi dasar bagi penelitian lain yang lebih ekstensif dengan memasukkan objek perusahaan yang lebih luas. Abstract Altman z-score method has been widely used to predict the tendency of bankruptcy of a public company both at home and abroad. In its development, this method has been modified so that it can predict the bankruptcy of private companies. However, due to data limitations, no studies in Indonesia implement the method of Altman for private companies. Therefore, this study aims to implement the method of Altman to a private company in Batam and evaluate whether the predictions correspond with the actual condition of the company. The research type is a case study on PT XYZ during 2011 to 2013 using the techniques of observation, interview, and documentation. Data were analyzed using qualitative descriptive analysis technique. In this study, the authors conclude that Altman method is appropriate to be applied to private companies in Batam. The authors hope that this research could be the basis for another, more extensive research to include more private firms in Indonesia.