40 research outputs found
Kut: Materials towards an interdisciplinary performance reflecting the encounter of Christianity and Buddhism in contemporary Korea
Get PDFANALISIS POTENSI KEBANGKRUTAN PADA PERUSAHAAN ROKOK DI BEI DENGAN METODE ALTMAN Z SCORE MODIFIKASI, SPRINGATE, DAN GROVER
Get PDFPartogi Hamonangan. 2018. 8323155055. Analysis of the Potential Bankruptcy
of Cigarette Companies on the IDX with the Altman Z Score Modification,
Springate, Grover Method. Program Studi D3 Akuntansi. Fakultas Ekonomi
Universitas Negeri Jakarta.
This study aims to determine the comparison of calculation method of
bankruptcy method of Altman Z Score Modification, Springate, Grover on
PT.Bantoel Internasional Investama Tbk and PT.Wismilak Inti Makmur Tbk. The
method used in this study is Descriptive Comparative where using the company's
financial report data obtained from the official site IDX and processed by the
author.
The results of the research show that there are differences of potential
bankruptcy measurement results with the method of Altman Z Score Modification,
Springate, Grover. Altman Modified method categorizes PT. Bantoel
Internasional Investama Tbk Bangkrupt and Grey Area in 2014 and 2015 ago
PT.Wismilak Inti Makmur Tbk is categorized Not Bangkrupt during 2014-2017.
Then Springate categorizes PT.Bantoel Internasional Investama Tbk in 20142015
in
the
category
of
Bangkrupt
and
PT.Wismilak
Inti
Makmur
Tbk
categorized
Not
Bangkrupt in the year 2014-2017. Grover method categorizes PT.Bantoel
Internasional Investama Tbk and PT.Wismilak Inti Makmur in the category Not
Bangkrupt during the year 2014-2017.
Keyword: Potential Bangkruptcy, Altman Z Score Modification, Springate,
Grover
Financial Distress Using the Zmijewski, Grover, and Springate Models at Retail Business in Indonesia
Get PDFIntroduction/Main Objectives: This study aims to analyze PT Matahari Putra Prima's financial health during 2018-2022 using the Zmijewski, Grover, and Springate models to predict potential financial distress. Background Problems: When a company experiences bankruptcy, its financial statements must be evaluated and measured through in-depth research. PT Matahari Putra Prima Tbk, a major player in Indonesia's retail industry, has faced significant challenges over the past few years due to shifts in consumer behavior towards online shopping and the economic impacts of COVID-19. Novelty: This research fills the gap in financial distress in retail businesses in Indonesia. Research Methods: This study uses a descriptive quantitative approach. The financial data of PT Matahari Putra Prima Tbk from 2018 to 2022, obtained through documentation and literature review, were analyzed using three financial distress models: Zmijewski, Grover, and Springate. The sampling technique is a sampling technique to be used in research. The sampling design of this study uses nonprobability sampling. Nonprobability sampling can provide very useful information for a population. Following this study, the author will use the purposive sampling technique. Finding/Results: PT Matahari Putra Prima Tbk for five years for 2018 – 2022 using Zmijewski, Grover, and Springate indicated that the company was experiencing Financial Distress. Research limitation/implications: It is better for PT. Matahari Putra Prima Tbk evaluates financial performance to bring the company to a better state. The company's value that shows the risk of financial distress, PT Matahari Putra Prima Tbk, focuses more on improving operational efficiency and reducing costs in improving cash management and reducing short-term debt to reduce the risk of financial distress. Furthermore, maintain good communication with investors and stakeholders to build trust and support
The cabbage whitefly, aleyrodes Proletella: causes of outbreaks and potential solutions
Get PDFThe cabbage whitefly, Aleyrodes proletella, has in recent years become a primary pest of several brassica crops in Europe. In the UK, its greatest impact has been on kale, where nymphs, wax deposits and sooty mould caused by honeydew excretion reduce the marketable portion of the crop, particularly later in the year.
In order to test the contribution of insecticide resistance to these outbreaks, a leaf-dip bioassay method was developed. Resistance to several pyrethroids was found in multiple populations in Lincolnshire and Kent, with similar patterns between compounds but differing magnitudes of resistance. This resistance was expressed to a similar degree by both adults and nymphs. The host plant used in bioassays influenced lethal concentrations but not resistance factors. A diagnostic concentration of lambda-cyhalothrin was identified and used to screen further populations over successive years. No cross-resistance to neonicotinoid insecticides was evident in highly pyrethroid-resistant populations. Bioassays with the synergist piperonyl butoxide provided no evidence of mixed-function oxidase or associated nonspecific esterase involvement in pyrethroid resistance. Attempts to sequence the sodium channel gene of susceptible and resistant whiteflies to check for target-site resistance were unsuccessful.
Field surveys of whitefly populations on wild cabbage were carried out to identify candidate native biological control agents for use in IPM strategies in field crops. These identified several parasitoid wasps and a coccinellid beetle, Clitostethus arcuatus. One of the parasitoids, Encarsia tricolor, and C. arcuatus were successfully cultured at NRI and tested in outdoor cage trials. In 2011, a multiple generation trial demonstrated the superiority of parasitoid release during the development of the first generation of whiteflies over later releases of E. tricolor or C. arcuatus. A Horticultural Development Company funded field trial in 2012 showed that insecticide application early in a whitefly infestation could provide prolonged control equivalent to regular spraying. This research will contribute to the development of future integrated pest IV management programmes for A. proletella through avoiding ineffective pyrethroid applications, facilitating insecticide resistance management and identifying non-chemical approaches
The cabbage whitefly Aleyrodes proletella and its natural enemies on wild cabbage Brassica oleracea on the Kent coast
No full textField surveys of Aleyrodes proletella populations on wild cabbage Brassica oleracea on the Kent coast were carried out in 2009 and 2010 in order to investigate the ecology of the whitefly in this habitat, to identify native natural enemies and to quantify their impact. Whiteflies were found to overwinter largely as adults on the most sheltered plants in a location and, while dispersal to other plants was evident, reached the greatest numbers on these plants. Three putative generations of juvenile whiteflies were monitored throughout 2010. It was found that more frequent monitoring would be necessary to estimate survival to eclosion; this, along with the loss of puparial exuviae from wild cabbage leaves under field conditions prevented conclusive estimates of survival to be calculated. Observations of potential predators and estimates of parasitism were possible; observed parasitism peaked in the second generation at 2.75% of all juveniles monitored. Limited sampling identified several chalcid parasitoid wasp species (Encarsia tricolor, Encarsia inaron and Euderomphale chelidonii) and a coccinellid beetle, Clitostethus arcuatus, as antagonists
Analisis Penggunaan Metode Altman Z-Score, Springate dan Zmijewski dalam Memprediksi Potensi terjadinya Financial Distress pada Perusahaan Food and Beverage Periode 2016-2018
No full textABSTRACTThe purpose of this study is to find out and analyze predictions of financial distress on food and beverage companies listed on the Indonesia Stock Exchange in 2016-2018 using the Altman Z-Score, Springate and Zmijewski methods. The population in the study was 26 companies and a sample of 13 companies. Data analysis techniques used in this research are by using descriptive analysis. The result of financial distress prediction using Altman Z-Score method is one company that has experienced financial distress for three years in the period 2016-2018, it's PT. Tri Banyan Tirta Tbk. Financial distress prediction results using Springate method there is one company that has financial distress, it's PT. Tri Banyan Tirta Tbk in 2016-2018. Financial distress prediction results using Zmijewski method there is one company that has financial distress, it's PT. Tri Banyan Tirta Tbk in 2016-2018.Keywords : Financial Distress, Altman Z-Score, Springate And Zmijewski MethodsDaftar PustakaAltman, Edward I. 1968. Financial Ratio, Discriminant Analysis and The Prediction of Corporate Bankruptcy. The Journal of Finance, Vol. 23, No. 4 (589-609).Baimwera, Bernard dan Antony Murimi Muriuki. 2014. Analysis Of Corporate Financial Distress Determinants: A Survey Of Non-Financial Firm Listed In The NSE. International Journal of Current Business and Social Science, Vol 1. Issue 2.Eneng dan Irwan, 2015. Pengaruh Rasio Keuangan Terhadap Prediksi Kebangkrutan (Altman Z-Score) Industri Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia Tahun 2009-2011. Jurnal Visionida, Vol. 1, No. 1.Fahmi, Irham. 2014. Pengantar Manajemen Keuangan. Bandung : Alfabeta.Hanafi, Mamduh M. 2005. Manajemen Kuangan. Yogyakarta : BPFE.Hantono, 2019. Memprediksi Financial Distress Dengan Menggunakan Model Altman Score, Grover Score, Zmijewski Score (Studi Kasus Pada Perusahaan Perbankan). Jurnal Riset Akuntansi Going Concern, Vol 14 (1).Hery, 2015. Analisis Laporan Keuangan (Pendekatan Rasio Keuangan). Yogyakarta : CAPS (Center Of Academic Publishing Service).Hofer, C. W. 1980. Turnaround Strategies. Journalof Business Strategy, Vol. 1, 19-31. Irma Christiana, 2018. Analisis Potensi Kebangkrutan Pada Perusahaan Makanan dan Minuman Yang Terdaftar Di BEI. STMIK Royal-AMIK Royal, 435-440.Lestari, Halim dan Junaidi. 2018. Prediksi kebangkrutan berdasarkan metode altman Z-Score (studi kasus perusahaan makanan dan minuman yang terdaftar pada Bursa Efek Indonesia 2011-2016). Jurnal Manajemen, Vol.4, No. 1.Mamduh M. Hanafi. 2014. Manajemen Keuangan. Yogyakarta: BPFE-Yogyakarta.Martono, Nanang. 2011. Metode Penelitian Kuantitatif Analisis Isi dan Analisis Data Sekunder. Jakarta : Rajawali Pers.Novia dan Salim. 2019. Analisis Model Altman Untuk Memprediksi Kebangkrutan Pada Perusahaan Makanan Dan Minuman. Jurnal Multiparadigma Akuntansi, Vol 1, No. 3.Permana, Ahmar dan Syahril. 2017. Prediksi Financial Distress Pada Perusahaan Manufaktur Di Bursa Efek Indonesia. Jurnal Bisnis dan Manajemen,Vol 7,No 2.Platt, Harlan D dan Platt, Marjorie B. 2002. Predicting Corporate Financial Distress: Refections on Choice-Based Sample Bias. Journal of Economics and Finance.Prihadi, Toto. (2009). Investigasi Laporan Keuangan & Analisis Rasio Keuangan. Jakarta : PPM.Rahayu, Suwendra dan Yulianthini. 2016. Anaisis Financia Distress Dengan Menggunakan Meode Altman Z-Score, Springate, dan Zmijewski Pada Perusahaan Telekomunikasi. E-Journal Bisma Universitas Pendidikan Ganesha Jurusan Manajemen , Vol. 4.Rahmawati dan Hadiprajitno, 2015. Analisis Rasio Keuangan Terhadap Kondisi Financial Distress Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2008-2013. Diponegor Journal Of Accounting, Vol. 4, No. 2.Springate, Gord.L.V. 1978. Predicting the Possibility of Failure in a Canadian Firm. Unpublished MBA Research Project. Simon Fraser University.Sugiyono, 2017. Metode Penelitian Bisnis Pendekatan Kuantitatif, Kualitatif, Kombinasi, dan R&D. Bandung : Alfabeta.Whitaker, R. B. 1999. The Early Stages of Financial Distress. Journal of Economics and Finance, Vol. 23, 123-133.Wiratiwi, Triyono dan Mardalis. 2010. Analisis Rasio Keuangan Untuk Memprediksi Kesulitan Keuangan (Studi Empiris Perusahaan Manufaktur Go Publik). Jurnal Daya Saing Ekonomi Manajemen Sumber Daya,Vol. 11, No. 1.Zmijewski, M.E. 1984. Methodological Issues Relate to the Estimation of Financial Distress Prediction Models. Journal of Acccounting Research, Vol. 22: 59-71.www.idx.comwww.sahamok.co.i
Pyrethroid insecticide resistance in British populations of the cabbage whitefly, Aleyrodes proletella
No full textThe cabbage whitefly, Aleyrodes proletella L., is emerging as a significant pest of field brassica crops in certain regions of the United Kingdom. In order to investigate the contribution of pesticide resistance to this phenomenon, A. proletella populations were sampled from five different areas in England in 2008 and 2009. Adult residual leaf-dip bioassays were carried out using pyrethroid and neonicotinoid insecticides. RESULTS: Significant resistance to pyrethroids was found in multiple samples collected from two areas. No evidence of crossresistance to neonicotinoids was found in a subset of the pyrethroid-resistant populations. While the patterns of resistance to different pyrethroids were broadly correlated, the magnitude of resistance factors differed substantially. Survival of strains at a putative diagnostic concentration of lambda-cyhalothrin was found to provide a guide to their LC50. Significant differences in LC50 were found when different brassica crops were used in the bioassay, although the resistance patterns between strains were maintained.
CONCLUSION: Reduced susceptibility to multiple pyrethroid insecticides exists in populations of A. proletella in the United Kingdom, corresponding to recent major outbreaks. The mechanism(s) of resistance are yet to be determined, but molecular structural differences in pyrethroids probably influence the magnitude of cross-resistance within this group of insecticides
Analisis penggunaan dan tingkat akurasi model Altmant z-score, Zmijewski (x-score), dan Springate dalam memprediksi financial distress pada bank syariah devisa dan non devisa di Indonesia periode 2015-2018
Get PDFDalam kurun waktu belakang ini perbankan syariah mengalami perkembangan yang signifikan. Perbankan syariah merupakan salah satu factor penunjang pertumbuhan ekonomi di Indonesia. Dalam pelaksanaannya perbankan syariah akan selalu melekat dan berhadapan dengan yang namanya resiko, resiko tersebut merupakan resiko kebangkrutan yang dapat mengancam eksistensi perbankan syariah. Namun hal tersebut dapat diprediksi dengan cara mengukur menggunakan metode Altman Z-score, Zmijewski X-Score dan Springate pengukuran ini menggunakan laporan keuangan masing-masing perbankan syariah. Metode-metode yang digunakan penulis banyak digunakan juga dalam penelitian lain karena memiliki keakuratan yang tinggi dan metode ini dianggap tepat digunakan dalam memprediksi financial distress pada perbankan syariah. Penelitian ini merupakan penelitian yang menggunakan data sekunder dan masuk dalam kategori penelitian kuantitatif. Objek dalam penelitian ini terdiri dari 6 bank syariah baik devisa maupun non devisa. Data yang digunakan yaitu laporan keuangan perbankan syariah periode 2015-2018. hasil yang diperoleh dari penelitian ini menunjukkan bahwa ketiga metode tersebut dapat digunakan dalam prediksi financial distress perbankan syariah dan metode yang paling akurat yaitu metode Altman Z-Score dan Zmijewski dimana metode tersebut memiliki keakuratan sebesr 100%, sedangkan metode springate memiliki tingkat akurasi 67%.
ABSTRACT:
In the past period, Islamic banking has experienced significant developments. Islamic banking is one of the factors supporting economic growth in Indonesia. In its implementation, Islamic banking will always be attached to and deal with the name risk, this risk is a risk of bankruptcy that can threaten the existence of Islamic banking. However, this can be predicted by measuring using the Altman Z-score, Zmijewski X-Score and Springate methods. This measurement uses the financial statements of each Islamic banking. The methods used by the author are widely used in other studies because they have high accuracy and this method is considered appropriate to be used in predicting financial distress in Islamic banking. This research is a research that uses secondary data and falls into the category of quantitative research. The objects in this study consisted of 6 Islamic banks, both foreign exchange and non-foreign exchange. The data used are Islamic banking financial reports for the 2015-2018 period. The results obtained from this study indicate that the three methods can be used in predicting Islamic banking financial distress and the most accurate methods are the Altman Z-Score and Zmijewski methods where these methods have 100% accuracy, while the Springate method has an accuracy rate of 67%
ANALYSIS OF COMPANY PERFORMANCE USING ALTMAN Z-SCORE, GROVER, SPRINGATE, AND ZMIJEWSKI MODELS IN INDICATING THE RISK OF BANKRUPTCY FROM CIGARETTE COMPANIES LISTED IN INDONESIA STOCK EXCHANGE 2010-2019
No full textThe backgrounds due to impact from Covid-19 pandemic, increase of tobacco excise rates and illegal cigarettes. Research conducted as an anticipatory step in predicting the risk of bankruptcy that might occur using bankruptcy prediction models, First Altman Z-Score, Grover, Springate, and Zmijewski.. The purposes: 1) Obtain discussion results from 4 models to determine company performance in predicting the risk of bankruptcy 2010-2019, 2) Analyze which prediction model has the most accurate results in accordance with actual conditions of cigarette companies listed on IDX to determine the company performance in indicating bankruptcy risk. The research method are One Sample Kolmogorov-Smirnov, Descriptive Statistical test, and Hypothesis test. The results are that there are significant differences between these models and highest level of accuracy achieved by Zmijewski. This model used to do analyze of cigarette companies performance 2010-2019 in general.Keywords: Risk of Bankruptcy, Altman Z-Score, Grover, Springate, and Zmijewski.BIBLIOGRAPHYAdriana. (2012). Analisis Prediksi Kebangkrutan Menggunakan Metode Springate pada Perusahaan Foods and Beverages yang Terdaftar di Bursa Efek Indonesia Periode 2006-2010. Jurnal Repository. Fakultas Ekonomi Universitas Riau.Andriani & Sihombing. (2021). Comparative Analysis of Bankruption Prediction Models in Property and Real Estate Sector Companies Listed on the IDX 2017-2019. European Journal of Business and Management Research, 6(1), 170-173.Almilia & Kristijadi. (2003). Analisis Rasio Keuangan Untuk Memprediksi Kondisi Financial distress Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Jakarta. Jurnal Akuntansi dan Auditing Indonesia, 7 (2).Altman. (1968). Financial ratios, Discriminant Analysis, and The Prediction of Corporate Bankruptcy. Journal of Finance, Vol. 4.Bahar. (2021). Gapero Sebut Peredaran Rokok Ilegal Kian Marak. Accessed from https://www.republika.co.id/berita/qnjwwo416/gapero-sebut-peredaran-rokok-ilegal-kian-marak.Brigham & Daves. (2003). Intermediete Financial Management with Thomson One. United States of America.Bursa Efek Indonesia (BEI) / Indonesia Stock Exchange (IDX). (2018). Detail Profile Perusahaan Tercatat Bentoel International Investama Tbk. Accessed from https://www.idx.co.id/perusahaan-tercatat/profil-perusahaan-tercatat/detail-profile-perusahaan-tercatat/?kodeEmiten=RMBA.Bursa Efek Indonesia (BEI) / Indonesia Stock Exchange (IDX). (2018). Detail Profile Perusahaan Tercatat Gudang Garam Tbk. Accessed from https://www.idx.co.id/perusahaan-tercatat/profil-perusahaan-tercatat/detail-profile-perusahaan-tercatat/?kodeEmiten=GGRM.Bursa Efek Indonesia (BEI) / Indonesia Stock Exchange (IDX). (2018). Detail Profile Perusahaan Tercatat HM Sampoerna Tbk. Accessed from https://www.idx.co.id/perusahaan-tercatat/profil-perusahaan-tercatat/detail-profile-perusahaan-tercatat/?kodeEmiten=HMSP.Bursa Efek Indonesia (BEI) / Indonesia Stock Exchange (IDX). (2018). Detail Profile Perusahaan Tercatat Wismilak Inti Makmur Tbk. Accessed from https://www.idx.co.id/perusahaan-tercatat/profil-perusahaan-tercatat/detail-profile-perusahaan-tercatat/?kodeEmiten=WIIM.CNBC Indonesia. (2020). Ternyata Gelombang PHK sudah terjadi di Pabrik Rokok. Accessed from https://www.cnbcindonesia.com/news/20200515203734-4-158915/ternyata-gelombang-phk-sudah-terjadi-di-pabrik-rokok.Dewi & Ramantha. Prediksi Kebangkrutan menggunakan Model Grover, Zmijewski, & Altman Pada LPD Di Kabupaten Gianyar Tahun 2013-2017. E-Jurnal Akuntansi, 29(3), 1041-1054.Departemen Keuangan Republik Indonesia Badan Pengawas Pasar Modal Proyek Peningkatan Efisiensi Pasar Modal. (2005). Studi Tentang Analisis Laporan Keuangan secara Elektronik.Elviani, Simbolon, Riana, Khairani, Dewi, & Fauzi. (2020). The Accuracy of the Altman, Ohlson, Springate and Zmejewski Models in Bankruptcy Predicting Trade Sector Companies in Indonesia. Budapest International Research and Critics Institute (BIRCI-Journal), 3, 334-47.Endri. (2009). Prediksi Kebangkrutan Bank untuk Menghadapi dan Mengelola Perubahan Lingkungan Bisnis : Analisis Model Altman’s Z-Score. Perbanas Quarterly Review, 2(1).Fauzan & Sutiono. (2017). Perbandingan Model Altman Z-Score, Zmijewski, Springate, dan Grover dalam Memprediksi Kebangkrutan Perusahaan Perbankan (Studi Kasus Pada BEI Tahun 2011–2015). Jurnal Online Insan Akuntan 2.1, 49-60.Fitriya. (2018). Analisis Pengukuran Kinerja Perusahaan dengan Pendekatan Balanced Scorecard pada CV XY (Doctoral dissertation, Universitas Mercu Buana Yogyakarta).Gamayuni & Rika. (2011). Analisis Ketepatan Model Altman sebagai Alat untuk Memprediksi Kebangkrutan (Studi Empiris Pada Perusahaan Manufaktur Di BEI). Jurnal Akuntansi Dan Keuangan 16(2). Fakultas Ekonomi Universitas Lampung.Grover. (2001). Financial Ratios, Discriminant Analysis and The Prediction of Corporate Bankruptcy: A Service Industry Extension of Altman’s Z-Score Model of Bankruptcy Prediction. Working Paper. Southern Finance Assosiation Annual Meeting.Harim. (2018). Metode Pengumpulan Data: Kuantitatif & Kualitatif. Accessed from https://sosiologis.com/metode-pengumpulan-data.Hofer. (1980). Turnaround Strategies. Journal of Business Strategy 1: 19-31.Husein & Pambekti. (2015). Precision of the models of Altman, Springate, Zmijewski, and Grover for predicting the financial distress. Journal of Economics, Business, & Accountancy Ventura, 17(3), 405-416.Husein. (2013). Metode Penelitian untuk Skripsi dan Tesis Bisnis (Edisi 2). Jakarta: Rajawali Pers.Kaloh, Ilat, & Pangerapan. (2018). Analisis Laporan Arus Kas Untuk Menilai Kinerja Keuangan Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia. GOING CONCERN: JURNAL RISET AKUNTANSI, 13(04).Kasmir. (2016). Analisis Laporan Keuangan. Jakarta: PT Raja Grafindo Persada.Kementerian Keuangan Republik Indonesia. (2013). Terapkan UU Pajak dan Retribusi Daerah, 2014 Cukai Rokok Tidak Naik. Accessed from https://www.kemenkeu.go.id/publikasi/berita/terapkan-uu-pajak-dan-retribusi-daerah-2014-cukai-rokok-tidak-naik/.Kementerian Keuangan Republik Indonesia. (2020). Pemerintah tetapkan Kebijakan Tarif Cukai Hasil Tembakau Tahun 2021. Accessed from https://www.kemenkeu.go.id/publikasi/siaran-pers/siaran-pers-pemerintah-tetapkan-kebijakan-tarif-cukai-hasil-tembakau-tahun-2021/.Komarudin. (2019). Analisis Pengaruh Rasio Keuangan Terhadap Kinerja Bank (studi Kasus Pada Perbankan Yang Terdaftar Di BEI Tahun 2011-2015). Indonesian Journal of Strategic Management, 2(1).Luciana. (2004). Analisis Faktor-Faktor yang Mempengaruhi Kondisi Financial Distress Suatu Perusahaan yang Terdaftar di BEJ. JRAI, Vol. 7, No.1.Luciana. (2006). Prediksi Kondisi Financial Distress Perusahaan Go Public dengan Menggunakan Analisis Multinomial Logit. Jurnal Ekonomi dan Bisnis, Vol. XII, No.1.Mulyadi. (2001). Balanced Scorecard: Alat Manajemen Kontemporer untuk Pelipatganda Kinerja Keuangan Perusahaan. Jakarta: Salemba Empat.Munawir. (2010). Analisa Laporan Keuangan, Edisi Keempat, Cetakan Kelima Belas, Yogyakarta: Liberty.Nidhi, Arora, & Saini. (2013). Time Series Model for Bankruptcy Prediction via Adaptive Neuro-Fuzzy Inference System. International Journal of Hybrid Information Technology, 6(2). India.Oktaviandri, Annisa, & Firli. (2017). Analisis Prediksi Kebangkrutan dengan Model Altman, Springate, Ohlson, dan Grover pada Perusahaan di Sektor Pertanian Bursa Efek Indonesia Periode 2011–2015. Majalah Ilmiah UNIKOM.Pradhan & Roil. (2011). Prediction of Z Score for Private Sector Banking Firms. International Referred Research Journal, 2(22). ISSN-0975-3486, RNI: RAJBIL 2009/30097.Primasari & Savitri. (2017). Analisis Altman Z-Score, Grover Score, Springate, dan Zmijewski sebagai Signaling Financial Distress (Studi Empiris Industri Barang-Barang Konsumsi di Indonesia). Accounting and Management Journal 1.1.Riset Kesehatan Dasar. (2018). Jumlah Perokok di Indonesia Tinggi, Ahli Desak Pemerintah Lakukan 5 Hal. Accessed from https://swa.co.id/swa/trends/konsumen-rokok-terus-meningkat-karena-pengaruh-iklan.Shalih & Kusumawati. (2019). Prediction of Financial Distress in Manufacturing Company: A Comparative Analysis of Springate Model and Fulmer Model. Journal of Auditing, Finance, and Forensic Accounting, 7(2), 63-72.Springate. (1978). Predicting the Possibility of Failure in a Canadian Firm. Unpublished MBA Research Project. Simon Fraser University.Sugiyono. (2010). Metode Penelitian Pendidikan. Bandung: AlfabetaSupardi & Mastuti. (2003). Validitas Penggunaan Z-Score Altman untuk Menilai Kebangkrutan pada Perusahaan Perbankan Go Publik di Bursa Efek Jakarta. Kompak, No.1, 68-69.TradeInvest. (2021). Saham Delisting, Kriteria dan Hak Investor Publik. Accessed from https://tradeinvest.id/saham-delisting-kriteria-dan-hak-investor-publik.html.Whitaker. 1999. The Early Stages of Financial Distress. Journal of Economics and Finance, 23: 123-133.Wibowo. (2010). Kinerja tim marketing Dinas Perindustrian Perdagangan & Energi Sumber Daya Mineral (ESDM) Kabupaten Kulon Progo dalam kegiatan pengembangan pasar & distribusi barang/produk.Zmijewski. (1984). Methodological issues related to the estimation of financial distress prediction models. Journal of Accounting Research 22 (Supplement), p. 59-86.
Determinants of Stock Delisting (Analysis of Bankruptcy and Liquidity Ratios on Stock Delisting)
Get PDFThis literature review analyzes bankruptcy and liquidity ratios on stock delisting. An update from previous research is that this study is expected to produce findings and innovations regarding the role of bankruptcy analysis and liquidity ratios on delisting of company shares. In the end, this research is expected to provide data and evidence of factors related to the determination of stock delisting. The bankruptcy analysis that the author discusses is bankruptcy analysis with the Altman Z-Score method, Springate method and Zmijewski Method. And the liquidity ratio that the author will discuss is the current ratio. Based on previous research, bankruptcy analysis using the Altman Z-Score, Springate and Zmijewski methods is said to be an indicator to assess the bankruptcy of a company and ultimately affect the delisting of the company's shares on the Indonesia Stock Exchange. And the most accurate method which has a percentage of 95% in predicting bankruptcy is the Altman Z-Score method. The Springate method has an accuracy rate of 92.5%. While the Zmijewski method is 94.9%. For the liquidity ratio, the authors try to conclude from previous research that the liquidity ratio measured using the current ratio has an influence on the company's financial distress, where financial distress is a condition where the company is said to be almost bankrupt
