The evaluation of altman z-score, springate and grover model in predicting financial distress on palm oil plantation companies listed in Indonesia stock exchange

Felicia, Felicia (2019) The evaluation of altman z-score, springate and grover model in predicting financial distress on palm oil plantation companies listed in Indonesia stock exchange. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

In corporate finance, the early prediction of financial distress is important for companies to survive in today’s competitive business world which is impacted by globalization.Therefore, prediction models are necessary for companies to predict financial distress. The purpose of this research is to analyze whether Altman z-score model, Springate model and Grover model have significant effect toward predicting financial distress in palm oil companies listed in IDX year 2013-2017. The sample of this research consists of 7 palm oil companies or 35 companies (7x5 year) listed in IDX year 2013-2017 selected by purposive sampling method. This research method is using quantitative and data collection method is using secondary data and literature review. The data analysis is done by using Logistic Regression with dummy variable and processed using SPSS version 25 to test the hypothesis and strengthen the calculation result. The result shows that Altman z-score model, Springate model and Grover model do not have significant effect partially toward predicting financial distress in palm oil companies listed in IDX year 2013-2017. Moreover, Altman z-score model, Springate model and Grover model have significant effect simultaneously toward predicting financial distress in palm oil companies listed in IDX year 2013-2017

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