PREDIKSI KONDISI FINANCIAL DISTRESS PADA PERUSAHAAN MANUFAKTUR DI INDEKS SAHAM SYARIAH INDONESIA DENGAN MODEL: ALTMAN Z-SCORE, SPRINGATE S-SCORE, DAN ZMIJEWSKI X-SCORE

Mita Siti Saripah, - (2022) PREDIKSI KONDISI FINANCIAL DISTRESS PADA PERUSAHAAN MANUFAKTUR DI INDEKS SAHAM SYARIAH INDONESIA DENGAN MODEL: ALTMAN Z-SCORE, SPRINGATE S-SCORE, DAN ZMIJEWSKI X-SCORE. S1 thesis, Universitas Pendidikan Indonesia.

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Official URL: http://repository.upi.edu

Abstract

Financial distress dapat dijelaskan sebagai kondisi di mana suatu perusahaan mengalami kesulitan keuangan serta menuju pada arah kebangkrutan. Kebangkrutan sendiri dapat dijelaskan sebagai suatu keadaan di mana perusahaan mengalami kegagalan dalam menjalankan kegiatan operasional perusahaan, sehingga mengakibatkan suatu perusahaan tidak dapat menghasilkan laba dan tidak dapat membayar utang. Lesunya perekonomian global membuat kinerja perusahaan manufaktur mengalami penurunan, beberapa diantaranya mengalami financial distress atau bahkan kemungkinan paling terburuk yakni mengalami kebangkrutan. Adapun tujuan dari penelitian ini yaitu untuk memprediksi kondisi financial distress pada perusahaan manufaktur subsektor makanan dan minuman periode 2016-2020, mencari perbedaan model prediksi Altman Z-Score, Springate S-Score, dan Zmijewski X-Score berserta dengan tingkat akurasi dari masing-masing model. Metode yang digunakan dalam penelitian ini adalah kuantitif, dengan desain penelitian yakni deskriptif dan komparatif. Penelitian ini menggunakan teknik purposive sampling dengan sampel sebanyak 11 perusahaan dengan 5 tahun periode penelitian. Teknik analisis data yang digunakan adalah Multiple Discriminant Analysis, Uji Kruskal Wallis H, dan Uji Akurasi. Hasil penelitian ini menunjukkan bahwa terdapat perbedaan hasil prediksi dari Model Altman Z-Score, Springate S-Score, dan Zmijewski X-Score, berdasarkan Uji Kruskal Wallis H terdapat perbedaan yang siginifikan dari masing-masing model, dan setiap model perhitungan memiliki persentase akurasi yang berbeda-beda. Kata Kunci: Financial Distress, Altman Z-Score, Springate S-Score, Zmijewski X-Score Financial distress can be explained as a condition where a company experiences financial difficulties and is heading towards bankruptcy. Bankruptcy itself can be explained as a situation where the company fails in carrying out the company's operational activities, resulting in a company unable to generate profits and unable to pay debts. The sluggish global economy made the performance of manufacturing companies experience a decline, some of which experienced financial distress or even the worst possibility, namely bankruptcy. The purpose of this study is to predict financial distress in food and beverage manufacturing companies for the 2016-2020 period, look for differences in the prediction models of Altman Z-Score, Springate S-Score, and Zmijewski X-Score along with the level of accuracy of each model. The method used in this research is quantitative, with a research design that is descriptive and comparative. This study uses a purposive sampling technique with a sample of 11 companies with a 5 year research period. The data analysis technique used is Multiple Discriminant Analysis, Kruskal Wallis H Test, and Accuracy Test. The results of this study indicate that there are differences in the prediction results of the Altman Z-Score, Springate S-Score, and Zmijewski X-Score Models, based on the Kruskal Wallis H Test there are significant differences from each model, and each calculation model has a different percentage of accuracy. Keywords: Financial Distress, Altman Z-Score, Springate S-Score, Zmijewski X-Score

Item Type: Thesis (S1)
Uncontrolled Keywords: Financial Distress, Altman Z-Score, Springate S-Score, Zmijewski X-Score
Subjects: H Social Sciences > HB Economic Theory
L Education > L Education (General)
Divisions: Fakultas Pendidikan Ekonomi dan Bisnis > Ilmu Ekonomi dan Keuangan Islam
Depositing User: Mita Siti Saripah
Date Deposited: 06 Oct 2022 04:45
Last Modified: 06 Oct 2022 04:45
URI: http://repository.upi.edu/id/eprint/83797

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