Analisis Prediksi Kebangkrutan dengan Model Altman Z-Score Modifikasi pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia

Abstract

This study aims to determine the prediction of bankruptcy by using a modified Altman Z-Score model on a banking company listed on the Indonesia Stock Exchange. The type of research conducted is descriptive quantitative. Population in this research is banking company in Bursa Efek Indonesia period 2013 until 2015 counted 37 company. The sample in this research is financial service sector company of bank sub sector listed in Indonesia Stock Exchange for three consecutive year that is year 2013 until to 2015 as many as 27 company obtained by purposive sampling technique. The type of data used in this study is quantitative data, while the data source used by researchers is secondary data. Data collection techniques used in this study is documentation techniques, while data analysis techniques using prediction model of bankruptcy Altman Z-Score modification using four variables that have the formula Z = 6.56X1 + 3.267X2 + 6.72X3 + 1.05X4 with the criteria The Z> 1.1 assessment is categorized as safe zone, 1.1> Z <2.6 is in the gray area, Z <1,1 is categorized as distress zone. The results show that companies that enter into the category of distress zone in the year 2013 is 25.9%, by 2014 by 37% and by 2015 by 44.4%, companies entering the gray zone category in 2013 is 70.4 %, By 2014 by 59.3% and by 2015 by 51.9%, companies entering the safe zone category in 2013, 2014 and 2015 are the same at 3.7%.