Perbandingan Model Prediktor Kebangkrutan Menggunakan Altman Pertama, Altman Revisi, Dan Springate Dengan Ukuran Perusahaan Sebagai Variabel Penjelas (Studi Kasus Perusahaan Terdaftar Di Bursa Efek Indonesia)

Abstract

The purpose of this research is to determine the most accurate bankruptcy predictor between the First Altman, the Revised Altman, and the Springate model and how the company size explains the bankruptcy prediction. Purposive sampling is used as sampling method. The samples of this research are 30 corporations listed on Indonesian Stock Exchange for the periods 2009 to 2012 that matched criteria in the selection of the sample. Research methods used are descriptive statistics and descriptive comparative. The bankruptcy predictor model data then calculated based on the equation of bankruptcy predictor model to find the bankruptcy index. The calculation results of the three models then compared with the company size to predict the company’s bankruptcy potential. The result of comparative data in bankruptcy prediction is that; the First Altman provides the highest percentage in predicting the bankruptcy, followed by The Springate and then Altman Revised. The result of analysis of bankruptcy prediction using company size as explanatory variable is that the small and large companies both have a possibility to became bankrupt.