Indriani, Firda Rahayu (2018) Prediksi Financial Distress Dengan Menggunakan Model Altman (Z-Score) Dan Zmijewski (X-Score) (Studi pada Perusahaan Rokok yang Terdaftar di Bursa Efek Indonesia Periode 2014-2016). Sarjana thesis, Universitas Brawijaya.
Abstract
Penelitian ini bertujuan untuk mengetahui dan memprediksi terjadinya financial distress dengan menggunakan model Altman Z-Score dan Zmijewski X-Score pada perusahaan rokok yang terdaftar di Bursa Efek Indonesia (BEI) periode 2014-2016. Altman Z-Score merupakan salah satu model untuk mendeteksi terjadinya financial distress dan kebangkrutan pada perusahaan dengan menggunakan lima rasio keuangan diantaranya working capital to total assets, retained earning to total assets, earning before interest and tax to total assets, market value of equity to book value of liabilities dan sales to total assets. Sedangkan Zmijewski X-Score menggunakan tiga rasio keuangan yaitu return On Assets, debt ratio dan Current ratio. Jenis penelitian ini adalah penelitian deskriptif dengan pendekatan kuantitatif. Data yang digunakan merupakan data sekunder yang berupa laporan keuangan perusahaan. Hasil penelitian menunjukkan bahwa prediksi model Altman (Z-Score) dan Zmijewski (X-Score) selama periode 2014-2016 memiliki hasil yang sama. Dari empat perusahaan rokok yang diteliti, sebanyak tiga perusahaan berada di zona aman selama tiga tahun penelitian sedangkan satu perusahaan diprediksi sedang mengalami kesulitan keuangan dan berpotensi mengalami kebangkrutan selama tahun 2014 dan 2015 kembali pada zona aman di tahun 2016.
English Abstract
This study aims to determine and predict the onset of financial distress using Altman Z-Score and Zmijewski’s X-Score on cigarette companies listed in the Indonesia Stock Exchange (IDX) in the period of 2014-2016. Altman Z-Score detects financial distress and bankruptcy on companies using five financial ratios; they are working capital to total assets, retained earnings to total assets, earnings before interest and tax to total assets, market value of equity to book value of liabilities, and sales to total assets. Meanwhile, Zmijewski’s X-Score uses three financial ratios; they are return on Assets, debt ratio, and current ratio. This descriptive research uses quantitative approach. The data are secondary in forms of companies’ financial statements. The results show that both prediction models have similar results. Of the four tobacco companies being studied, three companies are in safe zone during the three-year research period. Furthermore, one company is predicted to experience financial difficulties and have bankruptcy potential in 2014 and 2015 and bounce back to safety in 2016.
| Item Type: | Thesis (Sarjana) |
|---|---|
| Identification Number: | SKR/FE/2018/85/051803133 |
| Uncontrolled Keywords: | Altman Z-Score, Zmijewki X-Score, financial distress |
| 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: | 27 Apr 2018 02:00 |
| Last Modified: | 02 Nov 2021 05:17 |
| URI: | http://repository.ub.ac.id/id/eprint/9902 |
Preview |
Text
BAB IV.pdf Download (1MB) | Preview |
Preview |
Text
BAB V.pdf Download (154kB) | Preview |
Preview |
Text
BAB III.pdf Download (424kB) | Preview |
Preview |
Text
BAGIAN DEPAN.pdf Download (1MB) | Preview |
Preview |
Text
DAFTAR PUSTAKA.pdf Download (365kB) | Preview |
Preview |
Text
BAB I.pdf Download (288kB) | Preview |
Preview |
Text
BAB II.pdf Download (500kB) | Preview |
Actions (login required)
 |
View Item |