PENERAPAN ANALISIS ALTMAN (Z-SCORE) SEBAGAI ALAT UNTUK MEMPREDIKSI KEBANGKRUTAN PERUSAHAAN (Studi Kasus pada Perusahaan Property dan Real Estate yang Terdaftar di BEJ)

Pratiwi, Elok Setya (2007) PENERAPAN ANALISIS ALTMAN (Z-SCORE) SEBAGAI ALAT UNTUK MEMPREDIKSI KEBANGKRUTAN PERUSAHAAN (Studi Kasus pada Perusahaan Property dan Real Estate yang Terdaftar di BEJ). Other thesis, University of Muhammadiyah Malang.

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Abstract

Political climate is stable relative, decreasing of rupiah rate of exchange to American dollar, increasing to interest, and credit interest (KPR) along with to government policies to increase BBM price which give effect to decreasing property and real estate selling in some last years. The decreasing of sale which happen continuously constitute indicator if there are bankruptcy potential. In order to firm can carry out to preventive action to bankruptcy happening in future, so it need to be carried out financial analysis. The goal of this study is to analyze potential of bankruptcy in property and real estate firm in Indonesia by using discriminant model new (Z-score). Property and real estate firm which enter in this study is property and real estate firms which listed in BEJ during 2004-2006. The discriminant model (Z-score) are one of method which used to predict bankruptcy potential which happen to firm, by using coefficient and cut off point that be based on firm kind, condition, situation in country. The disciminant model (Z-score), there are some financial ratio, which determine Z-score value. The financial ratios are following: last profit, EBIT, and value of share statement. The analysis data result to samples in 38 property and real estate firm which listed in BEJ during three year in later study experience increasing in X1-X5 variables, that management side have tried to increase their ability in firm asset using thus it may ensure survive of firm. The property and real estate firms tend to category in bankruptcy crisis (-0.546 < Z < 1.127) Based on the study result is suggested firm in order to take appropriate steps to increase firm survives. The steps are such as restructure or scheduling of settle a debt, carrying out hedging to loan, increasing selling, and carrying out efficiency in cost which less profit.

Item Type: Thesis (Other)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Economic > Department of Accounting
Depositing User: Rayi Tegar Pamungkas
Date Deposited: 29 Jun 2012 03:50
Last Modified: 29 Jun 2012 03:50
URI: http://eprints.umm.ac.id/id/eprint/10239

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