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All Journal East Asian Journal of Multidisciplinary Research (EAJMR)
Resmi Yunisa
Faculty of Economics and Business, University of Bengkulu
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering

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Analysis Financial Distress Potential in Asean Industrial Companies Using Altman Z-Score and Springate Methods Resmi Yunisa; Fitri Santi
East Asian Journal of Multidisciplinary Research Vol. 2 No. 12 (2023): December 2023
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/eajmr.v2i12.6902

Abstract

This research aims to analyze the potential for financial distress in the industrial sector companies across five ASEAN countries, using the Altman Z-score (1993) and Springate (1978) methods. Subsequently, these estimations are utilized to determine the error rate in classifying companies into specific groups, such as failed, safe, and grey-area companies. To measure the significance of differences among these groups, an independent sample t-test is employed. The bankruptcy analysis results from the Altman Z-Score and Springate methods within the industrial sector companies across ASEAN countries (Indonesia, Malaysia, Philippines, Singapore, and Thailand) in 2018 until 2020 indicate varying levels of financial distress.
Co-Authors Fitri Santi