Kristi, Utami Wahyuning (2017) Analisis Potensi Kebangkrutan Perusahaan Dengan Menggunakan Model Springate (S-Score) (Studi Pada Perusahaan Pertambangan Batubara yang Terdaftar di Bursa Efek Indonesia Periode 2014-2016). Sarjana thesis, Universitas Brawijaya.
Abstract
Krisis perekonomian global yang terjadi pada tahun 2008 mengakibatkan bisnis pertambangan batubara mengalami penurunan permintaan dari berbagai negara pengimpor. Hal tersebut berdampak pada oversupply batubara di pasar internasional sehingga harga batubara semakin menurun. Melihat kondisi bisnis pertambangan batubara yang saat ini terjadi, banyak perusahaan dihadapkan pada resiko kebangkrutan. Penelitian ini bertujuan untuk mengetahui adanya potensi kebangkrutan pada perusahaan pertambangan batubara di Indonesia menggunakan model Springate S-score. Jenis penelitian termasuk dalam penelitian deskriptif yang menggambarkan kondisi perusahaan saat ini dengan jenis data kuantitatif. Populasi pada penelitian ini adalah perusahaan pertambangan batubara yang terdaftar di Bursa Efek Indonesia periode 2014-2016 yang berjumlah 23 perusahaan. Pemilihan sampel dilakukan menggunakan metode purposive sampling dengan kriteria yang telah ditentukan sehingga terdapat 19 perusahaan pertambangan yang dapat dijadikan sampel. Variabel yang digunakan dalam model Springate S-score meliputi X1 = Net Working Capital to Total Asset, X2 = EBIT to Total Asset, X3 = EBT to Current Liabilities dan X4 = Sales to Total Asset. Hasil penelitian menunjukkan bahwa terdapat 6 perusahaan yang tidak memiliki potensi kebangkrutan selama 3 tahun berturut-turut yaitu PT Indo Tambangraya Megah Tbk, PT Resource Alam Indonesia Tbk, PT Toba Bara Sejahtera Tbk, PT Mitrabara Tbk, PT Samindo Resources Tbk dan PT Bukit Asam Tbk. Sedangkan terdapat 6 perusahaan mengalami fluktuasi nilai S-score dan sempat memiliki potensi bangkrut pada tahun 2014 dan 2015. Namun perusahaan-perusahaan tersebut mampu memperbaiki kinerja keuangan sehingga pada tahun 2016 tidak memiliki potensi bangkrut. Selanjutnya sejumlah 7 perusahaan memiliki potensi bangkrut selama 3 tahun berturut-turut antara lain PT Atlas Resources Tbk, PT Bumi Resources Tbk, PT Darma Henwa Tbk, PT Petrosea Tbk, PT Barajaya Internasional Tbk, PT Golden Eagle Energy Tbk dan PT Perdana Karya Perkasa Tbk. Rata-rata perusahaan yang memiliki potensi kebangkrutan disebabkan oleh tingkat profitabilitas dan likuiditas yang rendah sehingga kinerja keuangan dan manajemen perusahaan semakin menurun.
English Abstract
The 2008 global economic crisis has caused a decline in coal mining business, making the international market oversupplied with the commodity and pushing the price low. Therefore, many companies are faced with the risk of bankruptcy. The purpose of this research is to identify the potential of bankruptcy in coal mining companies in Indonesia using Springate S-score model. This descriptive study describes the current state of companies using quantitative data. The population of this study is 23 coal mining companies listed in the Indonesia Stock Exchange in the period of 2014-2016. The sample of this study were selected through purposive sampling method, resulting in 19 mining companies. The variables used in Springate S-score model are X1 = Net Working Capital to Total Assets, X2 = EBIT to Total Assets, X3 = EBT to Current Liabilities, and X4 = Sales to Total Assets. The results show that there were six companies that did not have bankruptcy potential for three consecutive years; they were PT Indo Tambangraya Megah Tbk, PT Resource Alam Indonesia Tbk, PT Toba Bara Sejahtera Tbk, PT Mitrabara Tbk, PT Samindo Resources Tbk, and PT Bukit Asam Tbk. There were six companies that experienced S-score value fluctuations and had the potential to go bankrupt in 2014 and 2015. However, these companies were able to improve their financial performance, so they did not have the potential to go bankrupt in 2016. Furthermore, there were seven companies that had bankruptcy potential for three consecutive years; they were PT Atlas Resources Tbk, PT Bumi Resources Tbk, PT Darma Henwa Tbk, PT Petrosea Tbk, PT Barajaya International Tbk, PT Golden Eagle Energy Tbk, and PT Perdana Karya Perkasa Tbk. Most of the companies with bankruptcy potential had low liquidity and profitability level, so their financial and managerial performance were decreasing.
| Item Type: | Thesis (Sarjana) |
|---|---|
| Identification Number: | SKR/FE/2017/765/051800592 |
| Uncontrolled Keywords: | Kebangkrutan, Model Springate S-score, Net Working Capital to Total Asset, EBIT to Total Asset, EBT to Current Liabilities, Sales to Total Asset |
| Subjects: | 600 Technology (Applied sciences) > 658 General management > 658.1 Organization and financial management > 658.15 Financial management > 658.151 Financial control |
| Divisions: | Fakultas Ekonomi dan Bisnis > Manajemen |
| Depositing User: | Yusuf Dwi N. |
| Date Deposited: | 30 Jan 2018 03:53 |
| Last Modified: | 03 Nov 2021 03:41 |
| URI: | http://repository.ub.ac.id/id/eprint/8589 |
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