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All Journal Jurnal Manajemen dan Bisnis (Performa) IMAGE JURNAL ILMU MANAJEMEN DAN BISNIS al-Uqud : Journal of Islamic Economics YUME : Journal of Management The International Journal of Business Review (The Jobs Review) Kumawula: Jurnal Pengabdian Kepada Masyarakat JURNAL AKUNTANSI JPDPM International Journal of Quantitative Research and Modeling Pattimura Proceeding : Conference of Science and Technology Jurnal Pengabdian Masyarakat Paguntaka Ta'allum: Jurnal Pendidikan Islam
Tia Yuliawati
Universitas Pendidikan Indonesia
Religion Agriculture, Biological Sciences & Forestry Humanities Astronomy Biochemistry, Genetics & Molecular Biology Chemical Engineering, Chemistry & Bioengineering Chemistry Civil Engineering, Building, Construction & Architecture Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Engineering Environmental Science Health Professions Materials Science & Nanotechnology Mathematics Physics Social Sciences Other

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Journal : International Journal of Quantitative Research and Modeling

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Analysis of Financial Distress using the Altman Z-Score Model, Springate Model, Zmijewski Model, and Grover Model Simatupang, Frido Sarita; Waspada, Ikaputra; Sari, Maya; Yuliawati, Tia
International Journal of Quantitative Research and Modeling Vol. 5 No. 2 (2024)
Publisher : Research Collaboration Community (RCC)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijqrm.v5i2.695

Abstract

The tight competition in the business world in the automotive industry that occurs in the current era of technology and development means that companies must have broad and clever thinking to keep the company from the brink of failure. During this research period there was a decline in automotive sales and company profits in the automotive and component sub-sectors listed on the IDX for the 2016-2020 period. This research aims to find out which prediction model is the most accurate and precise in predicting financial difficulties using model accuracy tests. The population in this study was 13 companies, then a purposive sampling technique was used to obtain 10 companies that were included in the research criteria. The results of this research show that the Altman Z-Score, Springate, Zmijewski and Grover models have different results, the Altman model predicts that there are 5 companies that are indicated to be healthy, 3 companies are in the Gray area, and 2 companies are indicated to have the potential to go bankrupt, the Springate model predicts that there are 5 companies healthy and 5 unhealthy companies, the Zmijewski model predicts that there are 9 healthy companies and 1 company that is indicated to have the potential to go bankrupt, the Grover model predicts that there are 7 healthy companies and 3 companies that are indicated to be unhealthy. With these results, the financial distress model with the highest accuracy is the Zmijewski model with an accuracy level of 92%, while the accuracy levels of the Altman Z-Score, Springate, and Grover models are 76%, 44%, and 76% respectively. With these results, the Zmijewski model is the most suitable model for use in automotive and component sub-sector companies in 2016-2020.
Co-Authors Achyarsyah, Mochamad Adirestuty, Fitranty Al Adawiyah, Rumaisah Azizah Askolani Askolani, Askolani Chairul Furqon, Chairul Chatarina Umbul Wahyuni Chazanah , Indah Nur Cici Cintyawati Ciptagustia, Annisa Fadhlani Kalia Fadjar Harimurti Ferry Tri Mulyana Firmansyah , Egi Arvian Giraliyandi, Maudina Putri Helmi Aziz Heny Hendrayati Ikaputera Waspada, Ikaputera Ikaputra Waspada, Ikaputra Imas Purnamasari Iqbal Abdul Rahman Lufthia Sevriana Maya Sari Miftahuddin, S.Si.,MAB., asep Mochamad Malik Akbar Rohandi Muhamat, Amirul Afif Nadri Taja Netti Siska Nurhayati Nugraha Nugraha Ririn Tri Ratnasari Sarwono, Aris Edi Simatupang, Frido Sarita Sisda Ferlianti Surachman, Eka Sutina, Hani Teguh Sandjaya Vanessa Gaffar