Bankruptcy Level Research Articles

Analisis Tingkat Kebangkrutan pada PT Patra Trading Jakarta

This research aims to determine the prediction of the bankruptcy level of PT. Patra Trading uses financial report data from 2021 to 2023. The method used in this research is Quantitative Descriptive non-Statistical. This research uses secondary data originating from the company PT Patra Trading in the form of the company's annual financial report. The population used is a subsidiary of PT Pertamina Patra Niaga. The sampling technique used in this research is Purposive Sampling for taking samples from the population based on certain criteria. The benchmarks for this bankruptcy prediction analysis consist of several ratios; (1) working capital to total asset; (2) rentaint to total asset; (3) profit before interest and tax to total assets; (4) book value equity to book value liquiditas; (5) profit before tax on current liabilities; (6) sales to total assets: (7) return of assets; (8) debt ratio; (9) current ratio. The results of the analysis using the Altman Z-Score, Springate, Zmijewski, Grover model on PT Patra Trading, provide different research results, where two of them say that PT Patra Trading is in the healthy category, namely in the Zmijewski model the final figure for this model is below 0 and the Grover model final figure is above 0.001. The Springate model says that PT. Patra Trading is still in the bankruptcy category where the final figure is below the standard, namely 0.862. Finally using the Altman Z Score model at PT. Patra Trading is in the gray area.

Analisis Financial Distress dengan Menggunakan Metode Altman Z-Score pada PT. Cahaya Bintang Medan Tbk

This research aims to determine and analiyze the Altman Z-Score mothod in assessing the level of bankruptcy PT. Cahaya Medan Tbk for The 2018- 2021 period and to provide evidence that the altman Z-score method is effectively used in assessing the level of company bankruptcy with a relatively reliable level of precision and accuracy at PT.Cahaya Bintang Medan Tbk for the 2018-2021 period. The type of research used is quantitative descriptive analysis, namely by collecting, clarifying, analyzing and interpreting data obtained from the company so that it can provide a picture of the actual situatuin the calculation technique used in this reseatch is the Altman Z-Score model formula. Based on the results of calculations using the modified Altman Z-Score method from the 2018-2021 period, it shows that PT. Cahaya Bintang Medan Tbk is in the safe zone or safe because the average Z-Score value is above 2,60 or Z2,60

Analisis Efesiensi Penggunaan Modal Kerja Perusahaan dengan Rasio Keuangan pada Bank Negara Indonesia Tbk Tahun 2018 – 2022

This research focuses on capital issues in companies which are seen based on the financial performance of Bank Negara Indonesia Tbk with liquidity ratios, profitability ratios and solvency ratios in 2018-2022. The results of the research are that the liquidity ratio with the FDR ratio and the current ratio have quite good capital efficiency in paying the company's liquidity, the profitability ratio with the CAR, DER and DAR ratios shows that the company has been able to process and generate profits to carry out the company's operational activities and increase the capital owned by company so that capital efficiency is met. Meanwhile, the Solvency Ratio, namely ROA, ROE and NPM, the company has the ability to manage capital and reduce the level of bankruptcy in the future.

Analyzing financial performance of resort and hotel subsector: A case study at Saung Dolken

The COVID-19 pandemic has significantly disrupted the stability of global economic flows and threatened the business of companies in the world. The purpose of this study is to analyze the existing condition of the financial performance of Saung Dolken Resort and Hotel for the period 2018 to 2022 and benchmarking with the hotel sub-sector industry, analyze the level of potential bankruptcy (financial distress) of SDO in Indonesia during the Covid-19 period, and formulate a financial performance model. This study aims to find out what factors affect SDO's financial performance which is proxied with return on equity (ROE) based on independent variables from the Dupont analysis components, namely: ATO: asset turnover ratio, LEV: financial leverage, TaxB: tax burden, IntB: interest burden, OPM : operating profit margin, and EM : Equity Multiplier (EM) Adjustment. The study examines Saung Dolken Resort and Hotel's financial performance from 2018-2022 using descriptive analysis and Du Pont Analysis, identifying strengths and weaknesses for investors. The results show that the period before and during the co-incidence period showed a significant decrease in ROE caused by a decrease in ATO, Asset Turnover, and LEV, followed by an increase in TaxB and intB. The strategy includes profit margin optimization, asset turnover improvement, and equity multiplier adjustment.

Analisis Prediksi Kebangkrutan Dengan Menggunakan Metode Altman Z-Score Pada PT. Wijaya Karya (Persero) Tbk

This research aims to determine the level of company bankruptcy using the Altman Z-Score model. Company PT. Wijaya Karya (Persero) Tbk from 2013 to 2022. This research uses secondary data in the form of quantitative data. The data source used in this research comes from the financial reports of the company PT. Wijaya Karya (Persero) Tbk which is listed on the Indonesia Stock Exchange (BEI) for the period 2013 - 2022. The Altman Z-Score method uses five variables, namely: Working capital/total assets (X1), Retained earnings/total assets (X2), Profit before interest and taxes/total assets (X3), Market value of equity/book value of debt (X4), and Sales/total assets (X5). The results of this research indicate that the Altman Z-Score model can be implemented in detecting the possibility of bankruptcy in PT companies. Wijaya Karya (Persero) Tbk. The results of the analysis show that the company PT. Wijaya Karya (Persero) Tbk is predicted to experience bankruptcy in 2019 - 2022. This is indicated by a Z-Score value below 1.8, which means very large financial difficulties and high risk. in 2013 - 2018, those who were predicted to be prone to bankruptcy were marked with a Z-Score value of 1.81 < Z-Score < 2.99.

THE EFFECT OF FINANCIAL RATIO ON FINANCIAL DISTRESS IN INDONESIA SHARIA COMMERCIAL BANKS

An early warning system can be implemented to anticipate the presence of financial distress, which will threaten financial problems. Altman Z-score is a tool for predicting a company's bankruptcy level by calculating several financial ratios. This study aimed to see whether finances can affect financial distress in Indonesian Islamic Banks. This study used Eviews software version 10 with panel data analysis techniques. The research object is the Indonesian Sharia Commercial Bank, which published semiannual financial reports from 2017-2022. Based on information on the official OJK website, there are 12 Islamic Commercial Banks, but only 9(nine) banks meet the sample criteria in this study. The results of the study show that ROA and CR have a significant positive effect on financial distress. Meanwhile, ROE and DER have a significant negative effect on financial distress. Unlike the case with NPF, which has no significant effect on financial distress.

Implementasi Tingkat Kesehatan Kinerja Keuangan Dan Potensi Financial Distress Melalui Pendekatan RGEC Dan ZMIJEWSKI Pada Bank Muamalat Indonesia Periode 2017-2021

The role of banking in running the wheels of the economy is very complex, so that banking institutions become one of the bodies that contribute to maintaining and maintaining the stability of the country's economy. One of the methods used to determine the soundness of banking is RGEC which has four components, including Risk Profile, Good Corporate Governance, Earnings, Capital. This research was conducted with the aim of knowing the soundness level of Bank Muamalat Indonesia during the last 2017 to 2021 period. The type of research used is the explanatory research method with the RGEC approach. The data source used is secondary data obtained from the website of Bank Muamalat Indonesia which contains financial reports for the period listed. The results of this study can be presented in the form of graphs and tables to make it easier to analyze. So the final results obtained for the period 2017 to 2021 are that Bank Muamalat Indonesia is in the third rank category or is at the soundness level with the "fairly healthy" category. This is in line with the results of research on the level of bankruptcy of Bank Muamalat Indonesia during the 2017-2021 period which received the title of "fairly healthy" in the last four periods, even though in 2017 it had experienced a high risk of bankruptcy.

Is the Altman Z-Score Method Still Relevant in Predicting Bankruptct? A Study on PT. ESTIKA TATA TIARA TBK from 2019-2021

The purpose of this study is to examine how much the level of bankruptcy at PT Estika Tata Tiara Tbk in 2019 - 2021, the objects to be tested in this study focus more on the elements in the income statement and statement of financial position. This research uses descriptive research with secondary information obtained from the Annual Report of PT Estika Tata Tiara Tbk. The results of the research from 2019 - 2021 obtained results in 2019 Z Score of 1.81 in 2020 Z score of -7.62 and in 2021 obtained a Z Score of -7.47 which means that the company is predicted to go bankrupt

Financial Ratios Analysis Using The Z-Score Altman Method In Measuring Financial Performance To Predict Bankruptcy In Sharia General Banking (Case Study Of Islamic Banking Companies Listed On The Indonesia Stock Exchange In 2020-2021)

This study aims to predict the potential level of corporate bankruptcy. In this study, researchers took the object of Islamic banking companies listed on the Indonesian Stock Exchange. The companies are as follows: PT. Bank Aladin Syariah Tbk, PT. Bank Syariah Indonesia Tbk, PT. Bank BTPN Syariah Tbk and PT. Bank Panin Dubai Syariah Tbk. This type of research uses descriptive quantitative using secondary data sources.The results of the study show that 2020-2021 shows healthy and stable results because the z-score for 2020-2021 is above 2.6 or Z-score > 2.6. That's why PT. Bank Aladin Syariah Tbk, PT. Bank Syariah Indonesia Tbk, PT. Bank BTPN Syariah Tbk and PT. Bank Panin Dubai Syariah Tbk must continue to apply the precautionary principle properly and continue to strive to improve the company's performance in order to avoid potential bankruptcy in the coming year, especially in the era of economic improvement after the Covid-19 pandemic

Insolvency Forecasting using model Altman Z-Score dan Springate Score Analysis

This study aims to determine the level of company bankruptcy by using the Altman Z-Score and Springate Score model analysis on coal mining companies listed on the Indonesia Stock Exchange because Coal Mining Companies have many roles in the Indonesian Economy. The data used in this study is the annual financial report found in the Indonesian Capital Market Directory. The analysis technique used is a discriminant analysis using variables from the Altman Z-Score, which totals four financial ratios, namely Working Capital to Total Assets, Retained Assets to Total Assets, Earning Before Interest and Tax to Total Assets and Total Equity to Total Liabilities. This study also uses variables from the Springate Score: four financial ratios, namely Working Capital to Total Assets, Earning Before Interest and Tax to Total Assets Earning Before Tax to Current Liabilities Sales to Total Assets. The study results show that the financial statements of coal mining companies listed on the Indonesia Stock Exchange can be used to predict and save the company from possible bankruptcy with the Altman discriminant model and the Springate Score.

Determining the Bancrupt Contingency as the Level Estimation Method of Western Ukraine Gas Distribution Enterprises’ Competence Capacity

The purpose of this work is to deepen the methodological provisions and develop practical recommendations with the purpose of increasing the competitiveness level of gas distribution network operators. To achieve this goal by systematizing and unifying different approaches, we developed our own approach to determining the competitiveness level of gas distribution network operators. Nowadays, most approaches and methods are formed with the obligatory use of expert assessment methods, which, in its turn, predetermines relatively subjective judgments and results. The results of our research have proven the significantly increased exigency for measures to prevent possible bankruptcy of gas distribution network operators functioning in the western region of Ukraine with the practical application of both foreign and domestic approaches. In the process of conducting a comprehensive analysis of financial and economic indicators and those reflecting the results of economic activity of gas distribution network operators functioning in the western region of Ukraine, the following approaches have been used in our study with the involvement of: 1) E. Altman’s Two-Factor Model; 2) E. Altman’s Five-Factor Model (Altman, 1977; 2020); 3) R. Lis’s bankruptcy prediction model; 4) Richard Taffler’s model; 5) W. Beaver’s coefficient; 6) O. Tereshchenko’s model; 7) Matviychuk’s model. Ultimately based on the study above, the following conclusions can be drawn as a method of assessing the of gas distribution network operators’ competitiveness: the existing models for diagnosing bankruptcy of enterprises are characterized by ambiguity; as for example, if R. Lis’s model indicates a low bankruptcy level, then other models prove the opposite situation; domestic diagnostic models need to be improved, as they were developed in the early 2000s and disregard current trends in functioning of enterprises. The article examines the methodological approaches to the level of competitiveness assessment of gas distribution network operators functioning in Ukraine. In our opinion, this fully corresponds to the thematic focus of the journal.

Analysis Potential of Company Bankruptcy at PT. Gowa Makassar Tourism Development Tbk

Analysis of Company Bankruptcy Potential at PT. Gowa Makassar Tourism Development TBK. Thesis. Department of Management, Faculty of Economics and Business. Makassar public university. Supervised by Mr. Muhammad Ilham Wardhana Haeruddin and Mr. Nurman. This study aims to determine the potential for corporate bankruptcy at PT. Gowa Makassar Tourism Development Tbk Period 2017 to 2021. The type of research used is quantitative descriptive. The population in this study is the financial statements of PT. Gowa Makassar Tourism Development Tbk. The sample of this research is the income statement and balance sheet from the financial statements of PT. Gowa Makassar Tourism Development Tbk. 2017 to 2021. The data collection technique used is Documentation. Data analysis techniques are used to assess, identify, and explain the possibility of bankruptcy. The results of this study indicate the analysis of the level of bankruptcy of the modified Altman Z-score model of PT. Gowa Makassar Tourism Development TBK. the 2017-2021 period is categorized as being in good health or not bankrupt.

Analisis Prediksi Kebangkrutan dengan Menggunakan Metode Altman Z-Score pada PT. Indofood Sukses Makmur, Tbk

This study aims to determine the level of corporate bankruptcy using the Altman Z-Score model of the company PT. Indofood Sukses Makmur Tbk in 2012 to 2015. This study uses secondary data in the form of quantitative data. The data used in this study came from the financial statements of PT. Indofood Sukses Makmur Tbk listed on the Indonesia Stock Exchange (BEI) in the period 2012-2015.Berdasarkan Altman Z-Score method uses five variables, namely: Working capital / total assets (X1), retained earnings / total assets (X2), Earnings before interest and taxes / total assets (X3), the market value of equity / book value of debt (X4), and Sales / total assets (X5) The results in this study indicate that the model of the Altman Z-Score can be implemented in detecting the possibility of bankruptcy of the enterprise PT. Indofood Sukses Makmur Tbk. The results of the analysis show that the company PT. Indofood Sukses Makmur Tbk in 2013-2015 showed predictions of bankruptcy. It is characterized by the results of the Z-Score below 1.8, which means enormous financial difficulties and high risk. Only in 2012 who had predicted a gray area marked with a Z-Score was 1.81 <Z-Score <2.99.

ORGANIZATIONAL AND ECONOMIC SUPPORT OF TOURISM AND HOTEL ENTERPRISES ACTIVITIES

In the article, organizational and economic support of tourism and hotel enterprises activities has been developed based on the construction of an effective mechanism capable of solving problems of an institutional, organizational and economic nature. The authors have found out that the development of tourism has a huge impact on the socio-economic state of the country and the level of the quality of life of the population, therefore the formation of organizational and economic support for the activities of tourism and hotel enterprises is of primary importance since the tourism industry is an interdisciplinary complex that is part of the tourism sphere and unites various types of economic activity from material production to the non-material sphere, which are the material basis of tourism, the basis for personnel training, production management organization, and tourism product sales. It has been stressed that tourism enterprises are business entities of a specific nature, which have certain features both from the point of view of production organization and their socio-economic efficiency.It has been found out that hospitality enterprises must form and implement existing service strategies in order to meet specific and rapidly changing needs of the market in which they have chosen a certain segment for themselves since, in conditions of a high level of bankruptcies, only those business entities that are able to think strategically and adapt to changes in the external environment can achieve success.An integrated approach to the formation and implementation of state policy in the field of tourism and hotel management is proposed. The functional relationship of the totality of the main factors that determine the state of the financial and economic activity of tourism and hotel enterprises is determined. It is indicated that the economic efficiency of the activities of tourism and hotel industry enterprises is achieved through a balanced personnel management system. A model for monitoring the development of personnel is suggested. The use of this model allows for controlling and managing the course of the process. It has been concluded that today when doing business in the field of tourism, it is necessary to clearly take into account external and internal factors influencing the activities of economic entities and improve the personnel management system since the level of satisfaction of consumers of tourism and hotel services depends on the personnel's professional abilities.

Financial Ratios on the Bankruptcy Rates of with Profitability as Moderating Variables on JII70

The purpose of this study was to determine the level of corporate bankruptcy and the effect of CR and DAR on bankruptcy rate with EPS as a moderating variable. The object of this research is the companies listed on the Jakarta Islamic Index 70 (JII70) for the period May 2018 to May 2021. The sampling technique using purposive sampling obtained 23 companies used as samples in the study. The analysis technique uses panel data regression and residual data with Moderated Regression Analysis (MRA). From the results of the study, it is known that the majority of companies that were members of JII70 for twelve years 2010-2021 were in a healthy condition. There were at least 13 healthy companies during the study period from a total sample of 23 companies. For companies that fall into the category of healthy and gray area, there are 6 companies, and 4 companies are in a healthy condition, gray area, and bankrupt. While there are no companies that are in a gray area and go bankrupt condition. The results of panel data regression and MRA show that CR and DAR together have a significant effect on the level of bankruptcy. Partially, CR has a significant positive effect while DAR has a significant negative effect on the level of corporate bankruptcy. Keywords: CR, DAR, EPS, and Bankruptcy Rate

Accounting information transparency and business performance: A case of G7 construction companies

A high level of company bankruptcy in certain countries and a low level of profitability actualizes the need to find additional mechanisms for increasing the efficiency of their activities. One of such mechanisms is the growth of information transparency. The study deals with examining the effects of accounting information transparency on business performance on the example of construction companies in G7 countries. The transparency index was used as a parameter characterizing the level of accounting information transparency. The level of business performance was analyzed using the following indicators: value added of the construction industry, investment in the construction industry, number of construction firms, profitability of the construction industry, annual all-work construction output index, and total employees in construction firms. The dependence between the indicators was analyzed using the multiple regression analysis, Dickey-Fuller, Philips Perron, and Johansen tests. According to the results, the most vital link was between the level of accounting information transparency and the volume of investments (increased information transparency by 1 point leads to an increase in the volume of investments from 1.7% to 4.6%). At the same time, the level of accounting information transparency practically does not affect the number of employees (change by 0.1-0.2%) and added value (change by 0.1-0.3%). It was concluded that the policy of accounting information transparency should be an essential element of company strategy aimed to increase the level of its investment attractiveness and confidence of investors and consumers in its activities.

Analisis Metode Altman Z-Score Dalam Memprediksi Kebangkrutan Perusahaan (Tahun 2016-2021)

This study aims to detect the potential for bankruptcy early on at PT. Sumber Alfaria Trijaya Tbk. PT. Sumber Alfaria Trijaya Tbk is one of the leading retail companies in Indonesia, or commonly known as Alfamart, a trading company that sells units and retails related to household needs. This study uses the Altman Z-Score method. The Altman Z-score method is a tool used to predict the level of bankruptcy of a company by calculating the value of several ratios and then entering it into a discriminant equation. The results of this study were conducted in 2016-2021 where the Z-Score value was greater than 2.90, which means that the company is healthy or not bankrupt, so this can also prove that the Altman Z-score method is effectively used in assessing the level of bankruptcy in a company.

Model for preventing bankruptcy of Ukrainian enterprises in force majeure circumstances

Given rapid changes in global financial and economic processes caused by rapid transformations in the institutional environment and the onset of force majeure circumstances, there is a need to develop new approaches to assessing the level of bankruptcy. Most models that estimate the probability of enterprise bankruptcy are based on internal information, while external information is used to a limited extent. The growing threat of force majeure requires using not only the existing discrete models but also those that consider the external environment of enterprises when assessing the probability of bankruptcy. The purpose of this study is to develop a model for preventingbankruptcy of Ukrainian enterprises in force majeure conditions based on the use of artificial intelligence methods ‒ the theory of fuzzy logic– which allows for a comprehensive assessment of bankruptcy prevention. The paper uses analytical data from the World Bank. The model consists of interrelated groups of factors: organizational, informational and legal, and economic. As a result, a comprehensive indicator of prevention of corporate bankruptcies (D) was calculated on a neurolinguistic scale from 0 to 10; the indicator was estimated for Ukraine (5.644) and Romania (4.520) (as countries close in terms of economic and geopolitical development). The simulation results show that the level of prevention of enterprises’ bankruptcy in Ukraine falls into the average interval.

A Comparison of Income Support Measures in the Netherlands for Employees and Independent Workers During the Covid Crisis

Since the nineties a non-protective policy in the Netherlands stimulated to work as an independent contractor. This resulted in huge numbers of bogus self-employed, because compared to employees they were much cheaper to contract. Since 2012 the intention was spoken out to limit these numbers, but an effective remedy has not yet been developed. During the Covid pandemic, massive financial aid was given to companies, independent workers and employees. This helped to limit the level of unemployment and bankruptcies, but the number of independent workers is still growing. So the financial aid given during the pandemic has not helped to bring bogus self-employed under the scope of the employment agreement. Independent Workers and Employees in the Netherlands: Qualification, Difference in Costs and Financial Aid During Covid-Crisis

ANALISIS TINGKAT KEBANGKRUTAN DENGAN MENGGUNAKAN METODE ALTMAN Z – SCORE PADA PERUSAHAAN ROKOK YANG TERDAFTAR DI BEI

This study aims to determine the level of bankruptcy in Cigarette Companies Listed on the Indonesia Stock Exchange (IDX) using the Altman Z-Score Method. The data used is secondary data obtained by using documentation techniques. The population in this study were all cigarette companies listed on the Indonesia Stock Exchange for the 2016-2020 period. So that the samples used in this study were PT Gudang Garam Tbk, PT HM Sampoerna Tbk, PT Wismilak Inti Makmur Tbk, and PT Bentoel Internasional Investama Tbk. The data analysis technique used is descriptive analysis which provides an overview of the financial performance condition of the Cigarette Company based on the resulting financial statements. The results of this study indicate that there are three companies that are predicted to be in the category of not bankrupt or healthy within a period of five years, namely PT. Gudang Garam Tbk, PT. HM Sampoerna Tbk, and PT. Wismilak Inti Makmur Tbk. While PT. Bentoel Internasional Investama Tbk, only in 2016 was categorized in a healthy condition. Meanwhile, in 2017-2020 the company is predicted to be in a gray area condition.