BANKRUPTCY PREDICTION IN INDONESIA COMPANIES USING ALTMAN AND SPRINGATE BEFORE AND DURING THE PANDEMIC - Ambarwati, Sri; Novia, Wulan Sari; Fujianti, Lailah (Universitas Pakuan, 2024)
ABSTRACT This research aims to determine differences in bankruptcy prediction conditions using the Altman Z-Score and Springate methods before and during the COVID-19 pandemic in property companies listed on the Indonesia Stock Exchange for the 2018-2021 period. The sample used in this research was 27 property companies. Samples were obtained using the purposive sampling method. This research uses a descriptive analysis method and a different analysis test using a paired sample t test. The research results show that the Altman Z Score method does not show any differences in the condition of company bankruptcy before the pandemic and during the pandemic. However, Springate shows quite large differences in prediction results. The prediction results are an early warning so that investors/creditors are more careful in making investment decisionsABSTRAKPenelitian ini bertujuan untuk mengetahui perbedaan kondisi prediksi kebangkrutan dengan menggunakan metode Altman Z-Score dan Springate sebelum dan pada masa pandemi COVID-19 pada perusahaan property yang terdaftar di Bursa Efek Indonesia periode 2018-2021. Sampel yang digunakan dalam penelitian ini sebanyak 27 perusahaan properti. Sampel diperoleh dengan menggunakan metode purposive sampling. Penelitian ini menggunakan metode analisis deskriptif dan analisis uji beda dengan menggunakan paired sample t-test. Hasil penelitian menunjukkan bahwa metode Altman Z Score tidak menunjukkan perbedaan kondisi kebangkrutan perusahaan masa sebelum pandemi dan pada masa pandemi. Namun, Springate menunjukkan perbedaan hasil prediksi yang cukup besar. Hasil prediksi tersebut merupakan peringatan dini agar investor/kreditur lebih berhati-hati dalam pengambilan keputusan investasi.