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Financial Distress Prediction Analysis Using the Zmijewski Method Umar, Wahyuni; Muchran, Muchriana; Ridwan, Mukminati
Contemporary Journal on Business and Accounting Vol 4 No 1 (2024): Contemporary Journal on Business and Accounting (CjBA)
Publisher : Institut Transparansi dan Akuntabilitas Publik (INSPIRING)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58792/cjba.v4i1.49

Abstract

Purpose – The study aims to predict bankruptcy in pharmaceutical companes listed on the Indonesian Stock Exchange (IDX) for the 2019-2922 period using the Zmijewski method. Design/methodology/approach – The research method used in this study is quantitative research with descriptive analysis. The population in this is study were 11 pharmaceutical companes listed on the Indonesia Study Exchange with a sample 10 companes. The sampling technique used this study was purposive sampling Findings – The result of this study is that in 2019-2020, all companes are in safe state or not in a state of financial distress. In 2021, there 8 pharmaceutical companes in a safe state and there 2 pharmaceutical companes in a state of financial distress. In 2022, there are 9 companes in a safe state and there is 1 company in a state of financial distress. Originality – Sources of data used in this study were secondary data with documentation techniques where data is obtained or collected by previous researchers from existing sources. Keywords: Financial Distress, Zmijewski X-Score, Pharmaceutical Companes Paper Type Research Result
Methods for Measuring Potential Bankruptcy of Sharia Banking Ridwan, Mukminati; Pagalung, Gagaring; Kara, Muslimin
Al-Mashrafiyah (Jurnal Ekonomi, Keuangan dan Perbankan Syariah) Vol 6 No 2 (2022): Oktober
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/al-mashrafiyah.v6i2.31807

Abstract

This study aims to examine the methods that can be used to measure bankruptcy in sharia banking. This study is also to examine the potential for bankruptcy which is most effectively used. The method used is descriptive qualitative method with a literature approach. The results showed that of the six bank measurement methods, all of them could not be used to measure bankruptcy in Sharia banking without being modified first. This is because all methods have constituent elements based on interest and taxes. All methods can be used when eliminating the elements of interest and taxes. However, based on the research, it was found that the most widely used method to measure bankruptcy is the Altman Z-Score model, but the Springate S-score is the most effective in detecting the bankruptcy of Sharia banking in Indonesia.
Maqashid Syari'ah Index Model in Sharia Bank Ridwan, Mukminati; Pagalung, Gagaring; Luthfi, Mukhtar; Amin, Abd Rauf Muhammad
Bukhori: Kajian Ekonomi dan Keuangan Islam Vol. 3 No. 1 (2023): Juli
Publisher : Penerbit Goodwood

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/bukhori.v3i1.2283

Abstract

Purpose: This study aims to identify the appropriate model for measuring the level of Maq'hid syar'ah in sharia banking. Methodology: The method used is a qualitative method with a literature approach. The data used are the results of published research using the Maq'hid syar'ah index with the study object of sharia banking. Results: The results of the study indicate that there are 5 measurement concepts used in measuring the sharia-compliancy of Sharia banks using the Maq'hid syar'ah index. Of the five concepts, there is a fundamental similarity that is the key to achieving the goal of Maq'hid syar'ah, which is purifying the soul, justice, and public welfare. A simple model that can be used to measure quantitatively is by using 3 main instruments; Interest-free business for the purpose of purifying the soul, Zakat for the purpose of achieving justice, and real investment for the purpose of realizing welfare (maslaha).
Pengaruh Return On Asset dan Debt To Equity Ratio Terhadap Harga Saham Perusahaan Makanan Dan Minuman yang Terdaftar Di Bursa Efek Indonesia Syafar, Nur Wahyuni; Wahyuni, Wahyuni; Ridwan, Mukminati
Paradoks : Jurnal Ilmu Ekonomi Vol. 8 No. 2 (2025): Februari - April
Publisher : Fakultas Ekonomi, Universitas Muslim Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57178/paradoks.v8i2.1276

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh Return On Asset (ROA) dan Debt to Equity Ratio (DER) terhadap harga saham pada perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2021–2023. Fokus utama penelitian ini adalah menguji hubungan antara indikator fundamental perusahaan dengan fluktuasi harga saham sebagai refleksi nilai perusahaan di pasar modal. Penelitian ini menggunakan pendekatan kuantitatif dengan desain penelitian deskriptif. Data yang digunakan merupakan data sekunder berupa laporan keuangan tahunan perusahaan sektor makanan dan minuman yang diperoleh dari situs resmi BEI. Teknik pengumpulan data dilakukan melalui metode dokumentasi. Sampel ditentukan dengan teknik purposive sampling, dan analisis data dilakukan menggunakan regresi linier berganda melalui aplikasi SPSS. Uji asumsi klasik juga dilakukan, meliputi uji normalitas, multikolinearitas, heteroskedastisitas, dan autokorelasi. Hasil penelitian menunjukkan bahwa variabel ROA tidak memiliki pengaruh yang signifikan terhadap harga saham, demikian pula variabel DER yang juga tidak berpengaruh signifikan. Hal ini mengindikasikan bahwa investor tidak hanya mempertimbangkan indikator profitabilitas dan struktur modal dalam menentukan keputusan investasi saham. Temuan ini memberikan implikasi bahwa analisis harga saham perlu mempertimbangkan variabel lain di luar rasio keuangan tradisional. Perusahaan juga perlu memperkuat transparansi informasi dan memperhatikan faktor eksternal pasar yang turut memengaruhi nilai saham.
Pengaruh Corporate Governance Terhadap Kinerja Keuangan Perusahaan Pada Perusahaan Pertambangan di BEI Imran, Hikmah Kharisma; Abd Salam; Ridwan, Mukminati
Economics and Digital Business Review Vol. 7 No. 1 (2025): Agustus - Januari
Publisher : STIE Amkop Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh corporate governance terhadap kinerja keuangan perusahaan pada perusahaan pertambangan yang terdaftar di BEI 2021-2024. Jenis data yang digunakan dalam penelitian ini adalah kuantitatif. Pengumpulan data menggunakan data sekunder yang diperoleh dari idx.com dengan menggunakan teknik pursosive sampling dan diperoleh 28 sampel perusahaan. Hasil penelitian data menggunakan perhitungan statistical package for the social science (SPSS) versi 26. Keseluruhan sampel tersebut telah diuji asumsi klasik berupa asumsi normalitas, multikolinearitas, heteroskedastisitas, dan autokorelasi. Metode analisis data menggunakan teknik regresi berganda. Hasil uji hipotesis dilakukan dengan menggunakan metode analisis regresi data panel. Hasil penelitian ini menunjukkan, secara parsial, kepemilikan manajerial tidak berpengaruh terhadap kinerja keuangan, kepemilikan institusional berpengaruh positif signifikan terhadap kinerja keuangan, dan secara simultan, kepemilikan manajerial dan kepemilikan institusional berpengaruh secara simultan terhadap kinerja keuangan perusahaan.