Jurnal Pendidikan Ekonomi (JURKAMI)
Vol 11, No 1 (2026): JURKAMI

PERBANDINGAN MODEL ALTMAN Z-SCORE, SPRINGATE DAN ZMIJEWSKI DALAM MEMPREDIKSI KEBANGKRUTAN INDUSTRI TEKSTIL DI BEI

Nita Afifah (Universitas YPPI Rembang)
Damayanti Damayanti (Universitas YPPI Rembang)



Article Info

Publish Date
01 Apr 2026

Abstract

The Textile and Textile Products (TPT) industry is one of the strategic sectors in the Indonesian economy. However, in recant years it has faced considerable pressure due to the COVID-19 pandemic, global economis slowdown, and increasing import competition. These conditions have led to a decline in finanicial performance and an increased risk of bankruptcy among textile companies. Therefore, reliable bankruptcy prediction result among the Altman Z-Score, Springate S-Score dan Zmijewski X-Score models, as  well as to determine the most accurate model in predicting bankruptcy of textile industry companies listed on the Indonesia Stock Exchange during the 2020 – 2024 period. The research sample was selected using a purposive sampling method, resulting in 15 textile companies as research samples. Hypothesis testing in this study was conducted using the Kruskal-Wallis test. The Result indicate that there are significant differences among the Altman Z-Score, Springate S-Score dan Zmijewski X-Score models in predicting bankruptcy. Furthermore, the Zmijweski model is found to be the most accurate in predicting bankruptcy in the textile industry, with an accuracy rate of 70,67%. This study is limited to the use of three bankruptcy prediction models.

Copyrights © 2026






Journal Info

Abbrev

JPE

Publisher

Subject

Economics, Econometrics & Finance Education Social Sciences

Description

JURKAMI: Jurnal Pendidikan Ekonomi adalah jurnal yang menerima kontribusi tulisan/artikel yang berkaitan dengan studi-studi kependidikan, pengajaran dan evaluasi belajar di bidang pendidikan ekonomi dan kajian ilmu ekonomi lainnya, baik laporan penelitian, maupun tinjauan buku yang belum pernah ...