Abstract
The purpose of this reseach is to analysis and to make a bunkruptcy prediction of the Garuda Indonesia listed on Indonesian Stock Exchange,and to find out what the best model used in a bunkruptcy prediction of company. Reseach method based on purposive sampling.The population of this reseach is a numbers of company financial reporting listed on Indonesian Stock Exchange, and the sample obtained from period years of 2014 to 2017. The analysis of technical data used is descriptive analysis with a helping microsoft excel software . The reseach finding, that based on Altman Z-Score, and Springate prediction model based engineering science, Company have experienced a potency of bunkruptcy since 2014 till 2017. Meanwhile Zmijewski prediction model based engineering science company has experienced a potency of bunkruptcy in 2014 and 2017. whrereas in 2015 and 2016, company is classificated as a healthy company. Based on result of the third models analysis mentioned, Zmijewski model is a better in bunkruptcy prediction of company.
Highlights
The Dynamics of a company finance performance which is influenced by a growing of business environment turbulance and stricting of an increasing competation
Based on information mentioned above, how important it is for researcher to know a potency of company bankruptcy, so the researcher conducts a reseach at Garuda Indonesia as one of Indonesian state owned enterprises, for periode years of 2014 to 2017, by using Altman Z-Score, Springate, dan Zmijewski models
Return On Equity (ROE) As showed on table 1 above, ROE of Garuda Indonesia had a - 41,15% value in 2014 and a - 23,85% value in 2017 with score value was zero (0) respectively, it proved that company performance was at the worst condition
Summary
The Dynamics of a company finance performance which is influenced by a growing of business environment turbulance and stricting of an increasing competation. Many reseachers conducted a bankruptcy research, some of them have developed prediction model based engineering sciences by purpose to assist some potential investors and creditors in making choice of company where they should invest their capital, in order to protect from risk or finance distress. Some of prediction model based engineering sciences issued by Altman (1968), Springate (1978), Ohlson (1980), and Zmijewski (1983). Based on information mentioned above, how important it is for researcher to know a potency of company bankruptcy, so the researcher conducts a reseach at Garuda Indonesia as one of Indonesian state owned enterprises, for periode years of 2014 to 2017, by using Altman Z-Score, Springate, dan Zmijewski models. The sample method used is a purposive sampling, so, the numbers of sample was taken in this research was a financial reporting of Garuda Indonesia Airline for period years of 2014 to 2017
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