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Analysis of Financial Distress Potential Using the Altman Z-Score and Springate Methods in Predicting Company Bankruptcy Afifah, Nindy Tri; Fatihudin, Didin; Roosmawarni, Anita
The Journal of Financial, Accounting, and Economics Vol. 1 No. 2 (2024)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JFAE.2024.v01.i02.p01

Abstract

This study aims to identify the potential for financial distress in oil and gas sub-sector companies listed on the Indonesia Stock Exchange using two prediction models, namely Altman Z-Score and Springate. This study also tests whether there is a significant difference between the two methods in detecting bankruptcy risk. The sampling method used is purposive sampling, with the population consisting of all oil and gas sub-sector companies listed on the IDX during the period 2011–2015, and six companies were obtained as samples that met the criteria. This study was motivated by the decline in national oil and gas reserves, technical-operational challenges, and global oil price volatility which have a significant impact on the financial stability of companies in this sector. The data analysis methods used include the application of the Altman Z-Score and Springate models to calculate the financial distress score for each company, followed by a Paired Sample T-Test to determine significant differences between the two methods. The results of the study indicate that most companies show indications of being in a high-risk zone for financial distress, both based on the Altman Z-Score and Springate analyses. In addition, statistically significant differences were found between the prediction results of the two models, indicating differences in sensitivity in detecting bankruptcy risk. The implications of this study indicate the importance for oil and gas company management, investors, and regulators to use more than one analysis model in identifying and anticipating financial crises early in order to maintain the sustainability of the national energy industry.
Impact Profitability, Liquidity, and Credit Risk to Market Capitalization Banking Sector on the Indonesia Stock Exchange Sa’adah, Masrurotus; Fatihudin, Didin; Roosmawarni, Anita
The Journal of Management, Digital Business, and Entrepreneurship Vol. 1 No. 01 (2023)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JMDBE.2023.v01.i01.p01

Abstract

This study aims to test and analyze impact profitability, liquidity, and credit risk of the banking sub-sectors on market capitalization listed on the Indonesia Stock Exchange from 2009-2018. This research method used panel data regression analysis. The sampling method of this research used a purposive sampling technique. The F-test results showed that profitability, liquidity, and credit risk simultaneously had a significant effect on market capitalization with a significance value of 0.0%. The test results with the t-test show that only profitability has a significant positive impact on market capitalization with a significance level of 0.0%. In contrast, other variables, namely liquidity and credit risk, had an insignificant effect.
Companies Value of Indonesia Telecommunications Sector And Influencing Factors Roosmawarni, Anita; Sa'diyah, Halimatus; Eferyn, Krissantina
The Journal of Management, Digital Business, and Entrepreneurship Vol. 1 No. 02 (2023)
Publisher : PT. Global World Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58857/JMDBE.2023.v01.i02.p05

Abstract

The increase in public demand for telecommunications facilities provides opportunities for telecommunications companies, especially in the company's value, which the weight of total assets can measure. This study aims to determine the effect of the Current Ratio, Debt To Asset Ratio, Return On Equity, Return On Investment on firm value. The object of research is the telecommunications sector company with data used in 2014-2020. This study uses quantitative research methods with multiple linear regression data analysis for panel data and is assisted by the STATA 15 analysis tool. The results obtained that the best model is the common effect model (CEM) with t-test results in the Debt To Asset Ratio and Return On Equity variables having a significant effect on firm value with each t value of 0,003 and 0,001. Still, for the variables, the Current Ratio and Return On Investment do not substantially impact firm value with t-value 0,133 and 0,437. Meanwhile, simultaneously, these four variables significantly affect firm value with a significance value off of 0,000. The value of the R square obtained is 0,7031, which shows a significant effect of the independent variable on the dependent variable of 70,31%. These results indicate that if the company wants to increase its total assets, it must increase its current assets and attract investors to invest more capital so that the profits received by the company can be improved
Market Capitalisation and Financial Performance: Evidence from Banking Listed Company in Indonesia Roosmawarni, Anita; Fatihudin, Didin; Mauliddah, Nurullaili
Jurnal Analisis Bisnis Ekonomi Vol 20 No 2 (2022)
Publisher : Universitas Muhammadiyah Magelang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31603/bisnisekonomi.v20i2.7835

Abstract

Market capitalization is a vital performance tool for the banking companies, the current profit and the future earnings of the banks also have an important impact on the market capitalization of the banks. This study aimed to determine Return on Equity effect, Capital Adequacy Ratio, Non Performing Loan and Firm Size on the banking sectors market capitalization listed on the Indonesia Stock Exchange 2010-2020. This research method used multiple linear regression analysis with data processing using the tools Stata 15 program. The sampling method of this research used a purposive sampling technique. The F-test results showed that simultaneously Return on Equity, Capital Adequacy Ratio, Non Performing Loan, and Firm Size had a significant effect on market capitalization with a significance value of 0,0%. The test results with the t-test show that Capital Adequacy Ratio and Firm Size has a significant positive effect on market capitalization with a significance level less than 0,0%.