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ANALISIS KINERJA KEUANGAN MENGGUNAKAN MODEL ALTMAN Z-SCORE MODIFIKASI 1995 PADA PERUSAHAAN SEKTOR KEUANGAN DAN PENGARUHNYA TERHADAP HARGA SAHAM

Anggarsari, Nimas Roro (2013) ANALISIS KINERJA KEUANGAN MENGGUNAKAN MODEL ALTMAN Z-SCORE MODIFIKASI 1995 PADA PERUSAHAAN SEKTOR KEUANGAN DAN PENGARUHNYA TERHADAP HARGA SAHAM. Other thesis, University of Muhammadiyah Malang.

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Abstract

The objective of this research is to analyze firm’s financial performance influence on stock price of go public firms on ISX. Financial performance as independent variable was valued by Altman Z-Score Modification 1995. Analysis of Z-Score itself is a means of prediction of bankruptcy made by Dr. Edward I. Altman in 1968. This method uses the ratio-the ratio of a specific in order to predict the risk of bankruptcy of a company. This method also has undergone modifications in 1995, by changing some variables in the Z-Score formula. Stock price that used are closing price at the end of the year. Variables used in this research is the ratio-ratio model of Altman Z-Score Modification 1995. As for the components of the ratio-ratio model of Altman Z-Score Modification 1995 is the Net Working Capital to Total Assets, the Retained Earnings to Total Assets, Earning Before Interest and Tax to Total Asset, and the Book Value of Equity to Total Liabilities. The population in this research is the financial sector company listed on the Indonesia stock exchange. Methods of sampling in this research was done by purposive sampling method. The sample that used are 65 firms with research period during 3 years (2009-2011). This research used the ordinary least square. Result of the research indicate that financial performance do not influence the stock price. Other result show that there is not a difference of stock price between bankrupt and non bankrupt firms.

Item Type: Thesis (Other)
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Divisions: Faculty of Economics > Department of Accounting (62201)
Depositing User: Halimatus Zahroh
Date Deposited: 16 Jan 2015 03:54
Last Modified: 16 Jan 2015 03:54
URI : http://eprints.umm.ac.id/id/eprint/14825

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