Analisis Penggunaan Model Z”-Score Altman, Springate, Grover, dan Zmijewski untuk Mengetahui Potensi Terjadinya Kebangkrutan pada Perusahaan BUMN Go Publik Di Bursa Efek Indonesia Periode 2011-2015

Abstract

The purpose of this research is to know the differences of the bankruptcy potential on the State-Owned Enterprises in Indonesia Stock Exchange by using Altman Z "-score, Springate, Grover and Zmijewski models on 2011-2015, and also to determine the best predictors of the four models bankruptcy. This research using nineteen State-Owned Enterprises as sample which listed on Indonesia Stock Exchange. Nonprobability sampling was as the sampling technique methods (purposive sampling), whereas the method of analysis used is the Kruskal Wallis and Bankruptcy Accuracy Rate. The results showed that theres was significant difference between the bankruptcy potential of the Atman Z "-score, Springate, Grover and Zmijewski models by using Kruskal Wallis analysis method. On the second hypothesis Zmijewski model results show not the best accuracy predictor of bankruptcy by using Brankruptcy Accuracy Rate.