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All Journal Entrepreneur : Jurnal Bisnis Manajemen dan Kewirausahaan
Arifana, Cindy Dwi
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Prediksi Financial Distress Perusahaan Properti dan Real Estate di Bursa Efek Indonesia Periode 2019-2023 Arifana, Cindy Dwi; Handayani, Anita
Entrepreneur: Jurnal Bisnis Manajemen dan Kewirausahaan Vol. 6 No. 1 (2025): Januari
Publisher : Program Studi Manajemen Fakultas Ekonomika dan Bisnis Universitas Majalengka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31949/entrepreneur.v6i1.12384

Abstract

This study aims to analyze the ability of four prediction models Altman, Springate, Zmijewski, and Grover in predicting financial distress in property and real estate companies. This study uses a descriptive quantitative method with a research population of property and real estate companies listed on the Indonesia Stock Exchange. Sampling was done using purposive sampling from the period 2019-2023, and 29 companies were obtained. The data analysis technique was carried out using descriptive techniques, including the calculation of four prediction models, namely Altman, Springate, Zmijewski, and Grover, and the ranking of prediction models. The results of the study show that the Springate Model is the most accurate model with an accuracy level of 93% in predicting financial distress in property and real estate companies on the Indonesia Stock Exchange. This model is proven to be more effective than the Altman, Grover, and Zmijewski models. Further research can be expanded with larger periods, samples, and macroeconomic factors.
Co-Authors Anita Handayani