ANALISIS PREDIKSI KEBANGKRUTAN DENGAN MENGGUNAKAN PERHITUNGAN MODEL ALTMAN, ZMIJEWSKI, DAN GROVER PADA PERUSAHAAN TEKSTIL DAN GARMEN YANG TERDAFTAR DI BURSA EFEK INDONESIA (Periode 2014-2017)
Abstract
This study aims to analyze the prediction of bankruptcy by using three models, namely, Altman model, Zmijewski model, and Grover model on Textile and Garment companies listed on Indonesia Stock Exchange (Period 2014-2017). Sampling method used in this research is Convenience Sampling. The number of samples in this study as many as 16 companies. The data used in this study is the annual financial statements of Textile and Garment companies which are on the Indonesia Stock Exchange. Analytical techniques in this study using the calculation of bankruptcy prediction models Altman, Zmijewski, and Grover.
The results of this study prove that based on the results of the three models, Polychem Indonesia Tbk (ADMG) and Tifico Fiber Indonesia Tbk (TFCO) companies did not go bankrupt during the period 2014-2017, while the company Ever Shine Tex Tbk (ESTI) bankrupt during the periode 2014- 2017. The right model for predicting bankruptcy in Textile and Garment companies is grover model which has a high accuracy of 77% compared to Altman 46% and Zmijewski 40%.
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