ANALISIS PERBANDINGAN FINANCIAL DISTRESS DENGAN MENGGUNAKAN MODEL ALTMAN, SPRINGATE, ZMIJEWSKI, DAN GROVER (Studi Empiris Pada Sub Sektor Farmasi yang Terdaftar Di Bursa Efek Indonesia Periode 2016-2020)

Rima Anggreni, Rima Anggreni (2022) ANALISIS PERBANDINGAN FINANCIAL DISTRESS DENGAN MENGGUNAKAN MODEL ALTMAN, SPRINGATE, ZMIJEWSKI, DAN GROVER (Studi Empiris Pada Sub Sektor Farmasi yang Terdaftar Di Bursa Efek Indonesia Periode 2016-2020). skripsi thesis, Universitas Batanghari.

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Abstract

ABSTRACT Rima Anggreni / 1800861201292/ Faculty of Economics University Batanghari Jambi/ Comparisonal Analysis Of Financial Distress Using The Altman, Springate, Zmijewski, And Grover Models (Empirical Study on the Pharmaceutical Sub-Sector Listed on the Indonesia Stock Exchange 20162020 Period) / Advisor 1st R. Adisetiawan, SE, MM / 2nd Albetris, SE, MM This study aims to determine the most suitable financial distress model for its application to the pharmaceutical sub-sector listed on the Indonesia Stock Exchange. This study compares four models of financial distress, namely Altman, Springate, Zmijewski and Grover models by analyzing the level of accuracy of each model. The data used in this study is the company's financial statements published on the Indonesian stock exchange website. The population in this study is the pharmaceutical sub-sector listed on the Indonesia Stock Exchange for the 20162020 period. The sampling technique used was purposive sampling so that 8 companies were used as research samples. The analytical tool used is the Altman, Springate, Zmijewski and Grover models as well as statistical tests, namely the independent sample t-test and the predictive model accuracy test. Altman model there is one company experiencing financial distress, Springate model there are 2 companies experiencing financial distress and Zmijewski and Grover there is no company experiencing financial distress. This study compares the scores of four financial distress prediction models using descriptive statistical techniques, normality tests and paired analysis of sample t-test techniques with the help of the SPPS program. The conclusion of this study shows a significant difference between the Altman, Springate, Grover and Zmijewski models in predicting financial distress this is indicate by the independent sample t-test sig. (2-tailed) < 0,05 or 0,000 and the highest level of accuracy is achieved by the Zmijewski and Grover models with an accuracy rate of 100%. Keywords: Financial Distress; Altman; Springates; Zminjewski; Grover

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