The effect of altman, grover and zmijewski models in predicting the financial distress of coal companies listed on the Indonesia Stock Exchange

Kalinggo, Abigail Giantabita (2022) The effect of altman, grover and zmijewski models in predicting the financial distress of coal companies listed on the Indonesia Stock Exchange. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

This research aims to analyze whether Altman, Grover, and Zmijewski models have a significant effect on predicting the financial distress of coal companies listed on the Indonesia Stock Exchange from 2017 to 2021. The Independent variables used in this research are the Altman, Grover and, Zmijewski models and the dependent variable is financial distress, which is classified as a dummy variable. This research uses descriptive research under a quantitative approach using secondary data based on the audited financial statement of coal companies listed Indonesia Stock Exchange from 2017 to 2021. Using a purposive sampling technique, 18 coal companies were selected, as resulting in a total of 90 observations. The data analysis method used in this research is logistic regression analysis processed through SPSS 26. The result of this research shows that the Altman, Grover, and Zmijewski models do not have a significant effect partially in predicting the financial distress of coal companies listed on the Indonesia Stock Exchange from 2017 to 2021. However, Altman, Grover, and Zmijewski models have a significant effect simultaneously in predicting the financial distress of coal companies on the Indonesia Stock Exchange from 2017 to 2021. / Penelitian ini bertujuan untuk menganalisis apakah model Altman, Grover, dan Zmijewski memiliki efek signifikan dalam memprediksi financial distress bagi perusahaan batubara yang terdaftar di Bursa Efek Indonesia dari tahun 2017 hingga 2021. Variabel independen yang digunakan dalam penelitian ini adalah model Altman, Grover dan, Zmijewski dan variabel terikat adalah financial distress, yang diklasifikasikan sebagai variabel dummy. Penelitian ini menggunakan penelitian deskriptif dengan pendekatan kuantitatif dengan menggunakan data sekunder berdasarkan laporan keuangan yang telah diaudit pada perusahaan batubara yang terdaftar di Bursa Efek Indonesia dari tahun 2017 hingga 2021. Dengan menggunakan teknik purposive sampling, terpilih 18 perusahaan batubara, sehingga menghasilkan total 90 pengamatan. Metode analisis data yang digunakan dalam penelitian ini adalah analisis regresi logistik yang diproses melalui SPSS 26. Hasil penelitian ini menunjukkan bahwa model Altman, Grover, dan Zmijewski tidak memiliki pengaruh yang signifikan secara parsial dalam memprediksi kesulitan keuangan bagi perusahaan batubara yang terdaftar di Bursa Efek Indonesia dari tahun 2017 hingga 2021. Namun, model Altman, Grover, dan Zmijewski memiliki efek yang signifikan secara simultan dalam memprediksi kesulitan keuangan bagi perusahaan batubara di Bursa Efek Indonesia dari tahun 2017 hingga 2021.

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