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ANALISIS PERBANDINGAN MODEL ZMIJEWSKI (X-SCORE) DAN MODEL ALTMAN (Z-SCORE) DALAM MEMPREDIKSI GEJALA FINANCIAL DISTRESS (Studi Pada Perusahaan Pertambangan Logam dan Mineral Lainnya yang Terdaftar di BEI Tahun 2009-2012)

BAHTIAR, FERDIYANTO (2014) ANALISIS PERBANDINGAN MODEL ZMIJEWSKI (X-SCORE) DAN MODEL ALTMAN (Z-SCORE) DALAM MEMPREDIKSI GEJALA FINANCIAL DISTRESS (Studi Pada Perusahaan Pertambangan Logam dan Mineral Lainnya yang Terdaftar di BEI Tahun 2009-2012). Other thesis, University of Muhammadiyah Malang.

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Abstract

This research was conducted to determine the probability of financial distress at The Metal and Mineral Mining Company listed in the Indonesia Stock Exchange (IDX) implementing the Zmijewski model (X-Score) and the Altman model (Z-Score). This researchwas also conducted to find a better methods of predicting financial distress. Financial ratios that are used as the research variable are based on the Zmijewski model (X-Score) and the Altman model (Z-Score). This research is a quantitative descriptive research. The population of research is all ofThe Metal and Mineral Mining Company listed in the Indonesia Stock Exchange (IDX, sample waschosen based on sampling sensus. The result showed the performance of companies in The Metal and Mineral Mining Company is the fickle and unstable in 2009-2012 period. There is always company categoried as healthy, vulnerable and potentially bankrupt every years. The factors of greatly affect that make financial distress of company are the low working capital, high liability of company, and lower corporate profits. The results also showed the best model that is the Zmijewski model because the conservatism principle appraising the condition of companies. Thisis evidenced by many company categorized as potentially bankrupt company than the results of model Altman. Another advantage of the model Zmijewski is the accuracy of selecting ratios that are the basis to measure financial performance. Keywords : Zmijewski Model (X-Score), Altman Model (Z-Score), Financial Distress.

Item Type: Thesis (Other)
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions: Faculty of Economic > Department of Accounting
Depositing User: Halimatus Zahroh
Date Deposited: 06 Jan 2015 07:30
Last Modified: 06 Jan 2015 07:30
URI : http://eprints.umm.ac.id/id/eprint/14427

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