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Joanne Valesca Mangindaan
Sam Ratulangi University

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Analisis Financial Distress Dengan Model Altman Z-Score pada Perusahaan Sektor Pariwisata yang Terdaftar di Bursa Efek Indonesia Periode 2020-2022 Hennglyny Hennglyny; Riane Johnly Pio; Joanne Valesca Mangindaan
Productivity Vol 5 No 3 (2024): September 2024
Publisher : Program Studi Administrasi Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35797/ejp.v5i3.54585

Abstract

The decline in tourist visits and low occupancy levels caused by the COVID-19 pandemic has put companies in the tourism sector in the financial distress zone. Financial distress can be identified early before bankruptcy occurs using the Altman Z-Score prediction model. This research was conducted to analyze financial distress in tourism sector companies for the 2020-2022 period. The method used is quantitative descriptive and data is obtained from the Indonesia Stock Exchange website by means of documentation. The research sample was 10 tourism sector companies with a total of 30 data. The results of this research show that there are two companies experiencing financial distress, namely PT Hotel Fitra International Tbk (FITT) and PT Pembangunan Jaya Ancol Tbk (PJAA). Five companies are in non-financial distress and three companies are in the gray area. A significant increase occurred in companies in the non-financial distress zone from 30% in 2020 to 50% in 2022, reflecting the recovery and improving financial stability in the tourism sector.
Co-Authors Hennglyny Hennglyny Riane Johnly Pio