scholarly journals PENILAIAN KINERJA KEUANGAN DAN KAITANNYA DENGAN PERUBAHAN HARGA SAHAM PERUSAHAAN PROPERTI DAN REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2013-2015

2017 ◽  
Vol 2 (2) ◽  
Author(s):  
Nurasia Nurasia ◽  
Sri Andriani ◽  
Rian Piarna
Keyword(s):  
Real Estate ◽  
Random Effect ◽  
Z Score ◽  
Score Model

Penelitian ini bertujuan untuk mengetahui kinerja keuangan perusahaan dalam subsektor properti dan real estate yang terdaftar di Bursa Efek Indonesia (BEI) dengan menggunakan altman Z-Score dan perbedaan harga saham untuk perusahaan dengan kategori sehat dan tidak sehat. Selain itu penelitian ini juga bertujuan untuk mengetahui pengaruh rasio yang ada dalam Altman Z-Score terhadap harga saham. Metode analisis yang digunakan yaitu metode kuantitatif deskriptif menggunkan Altman Z-Score Model untuk mengetahui kinerja keuangan perusahaan dan untuk mengetahui hubungan rasio-rasio dalam Altman Z-Score terhadap harga saham menggunakan metode data panel dengan pendekatan random effect. Hasil penelitian menunjukkan dari 33 sampel yang digunakan didapatkan bahwa pada 2013 sebanyak 58% perusahaan dinyatakan sehat, 24% perusahaan dinyatakan kritis dan 18% lainnya dikategorikan tidak sehat. Pada 2014, 73% dinyatakan sehat 18% dinyataka kritis dan 9% mendapat predikat tidak sehat. Sementara pada 2015 turun menjadi 70% perusahaan dinyatakan sehat. Perusahaan-perusahaan yang memperoleh predikat kritis pada 2015 adalah 18%, perusahaan yang mendapat perdikat tidak sehat sebanyak 12%. Selain itu ada perbedaan harga saham antara perusahaan yang dikategorikan sehat dan tidak sehat. Kaitannya terhadap harga saham menunjukkan bahwa variabel WCTA tidak berpengaruh signifikan terhadap harga saham, RETA berpengaruh signifikan terhadap harga saham, EBITTA dan BVEBVD tidak berpengaruh signifikan terhadap harga saham. Secara simultan WCTA, RETA, EBITTA dan BVEBVD berpengaruh terhadap harga saham akan tetapi hanya 28.20% variasi harga saham dapat dipengaruhi oleh variasi WCTA, RETA, EBITTA, dan BVEBVD secara bersama-sama. Kata Kunci: Kinerja keuangan, perubahan harga saham, Altman Z-Score, Perusahaan properti dan real estate, Bursa Efek Indonesia

ANALISIS INDEX ALTMAN Z-SCORE DALAM MEMPREDIKSI KONDISI FINANCIAL DISTRESS (Studi Empiris Perusahaan Properti dan Real Estate Sub Sektor Perhotelan Tahun 2012-2017)

Kinerja ◽  
2018 ◽  
Vol 1 (01) ◽  
pp. 48-57
Author(s):  
Maryam Dunggio ◽  
Nur Aufa Mufidah
Keyword(s):  
Real Estate ◽  
Financial Distress ◽  
Z Score ◽  
Grey Area

Penelitian ini bertujuan untuk menganalisis Index Altman dalam memprediksi kondisi financialdistress pada perusahaan properti dan real estate tahun 2102-2017. Metode penelitian yangdigunakan adalah Altman Z-score. Teknik pengumpulan data yang dilakukan secara sekunderyaitu data yang diperoleh dari laporan keuangan tahunan yang dipublikasikan oleh setiapperusahaan. Hasil yang diperoleh dalam penelitian ini menunjukkan bahwa pada tahun 2012terdapat 2 perusahaan yang mengalami zona aman dan 8 perusahaan mengalami financial distress,tahun 2013 terdapat 2 perusahaan mengalami zona aman dan 1 perusahaan grey area dan 7perusahaan financial distress, tahun 2014 terdapat 2 perusahaan zona aman dan 8 perusahaanfinancial distress, tahun 2015 terdapat 2 perusahaan mengalami zona aman dan 8 perusahaanfinancial distress, tahun 2016 terdapat 2 perusahaan zona aman, 1 grey area dan 7 financialdistress, tahun 2017 terdapat 2 zona grey area dan 8 mengalami financial distress

PENGARUH PROFITABILITAS, LEVERAGE DAN UKURAN PERUSAHAAN TERHADAP LAMA WAKTU LAPORAN AUDIT

Equity ◽  
2016 ◽  
Vol 19 (1) ◽  
pp. 68
Author(s):  
Syifa Tamara Putri ◽  
Samin Samin
Keyword(s):  
Linear Regression ◽  
Real Estate ◽  
Multiple Linear Regression ◽  
Firm Size ◽  
Sampling Method ◽  
Stock Exchange ◽  
Z Score ◽  
Audit Report ◽  
Significance Level ◽  
Outlier Test

This study aims to test and provide empirical the effect of profitability, leverage and firm size of the audit report lag. The population in this study is a sub company property and real estate sectors listed on the Indonesia Stock Exchange 2012-2014. Sample of 34 companies was selected by purposive sampling method. The data used in this study as much as 102 samples. This study uses several stage of calculation, using outlier test that is by converting the data into a standardized score or so-called z-score. After going through the process of outlier samples were chosen in this study to 93 samples. Analysis of the data using multiple linear regression with a significance level of 5% and determine the hypothesis used t test and f test. The results test showing that profitability, leverage and firm size are simultaneous positive and significant effect on audit report lag. The results test this study indicate that profitability has significance on audit report lag are partial. Meanwhile leverage and firm size has no significance on audit report lag

scholarly journals Validity of Altman Z-Score Model to Predict Financial Failure: Evidence From Jordan

2018 ◽  
Vol 10 (8) ◽  
pp. 181 ◽  
Author(s):  
Sufian Al-Manaseer ◽  
Suleiman Al-Oshaibat
Keyword(s):  
Stock Exchange ◽  
Financial Statement ◽  
Insurance Companies ◽  
Z Score ◽  
Financial Reports ◽  
Financial Failure ◽  
Amman Stock Exchange ◽  
The Face ◽  
The Subject ◽  
Score Model

This paper aims to investigate the Validity of Altman z-score model to predict financial failure in insurance companies listed on Amman Stock Exchange (ASE) over the period 2011-2016. To achieve the goal of the study, the study depended on the different statistics analytical method and Multiple Linear Regression through doing the statistical analysis of the independent variables on the dependent variable related to the subject of the study through the (E-views) program in order to cover the analytical part of the study, in addition to the descriptive method through relying on books, periodicals, previous studies and financial reports of the insurance companies of the study’ sample, whether the direct or the indirect ones, to cover the theoretical part. The result of the study finds a high predictive power for Z-score model. Moreover, the findings reveal that Z-Score model could be valuable instrumental indicators for many users of financial statement such as financial managers, auditors, lenders, investors, to make right decisions in the face of financial failure.

scholarly journals TESTING BHANDARI Z-SCORE MODEL BANKRUPTCY PREDICTION USING CASH FLOW

2018 ◽  
Vol 2 (1) ◽  
pp. 121-128
Author(s):  
Barcha Handal Sakti ◽  
Ely Kartikaningdyah
Keyword(s):  
Cash Flow ◽  
Stock Exchange ◽  
Predictor Variable ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Discriminating Power ◽  
Significant Difference ◽  
Operating Cash Flow ◽  
Score Model

This research aimed to know whether the predictor variables on Bhandari’s z-score model having discriminating power which in each of the group has significant difference. Sample which was being used to assist was the manufacture company that consisted of healthy company and the unhealthy company enrolled in Indonesia stock exchange in the period of 2012-2014. Sample collecting method used purposive sampling and cross section was the data used in this research. This research was conducted by using Multivariat Discriminant Analysis (MDA). The result of this study showed predictor variable that gave discriminating power which stood of quality of earning (EAQ), operating cash flow divided by current liabilities (OCFCL), operating cash flow margin (OCFM), and operating cash flow return on total assets (OCFA) in distinguishing the healthy and unhealthy company significantly.

scholarly journals Analysis of bankruptcy issues at manufacturing companies, sub-sectors of cosmetics and houseappliances registered in Indonesia Stock Exchange (IDX) year 2015-2017 using Altman Z-score

2019 ◽  
Vol 4 (01) ◽  
pp. 27
Author(s):  
Indar Khaerunnisa ◽  
Nur Anisa Rahayu
Keyword(s):  
Financial Performance ◽  
Financial Distress ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Z Score ◽  
Marketing Performance ◽  
Grey Area ◽  
Manufacturing Company ◽  
Score Model

This research aims to figure out the level of companies bankruptcy by applying Altman Z-Score at the manufacturing companies registered in the Indonesia Stocks Exchange. The result of the research has indicated that ZScore model is applicable to detect the company’s potential bankruptcy issues, especially manufacturing company subsectors of cosmetics and houseappliances. Altman Z-Score model has classified the companies into three categories; safe, grey area and distress. Based on the result of the research, for the companies which are in the grey area category are suggested to improve their financial performance and to use the benefit of all the assets properly to get the revenue as much as possible. However, for the companies which are in the safe category are suggested to increase their performance, especially marketing performance so that they will receive bigger amount of the revenue, nevertheless, the potential of financial distress can be minimized accordingly. Keywords: manufacturing company, financial distress, Altman Z-Score.

scholarly journals A STUDY ON FINANCIAL HEALTH OF SELECTED PUBLIC SECTOR MANUFACTURING COMPANIES OF INDIA : WITH REFERENCE TO Z-SCORE ANALYSIS

2021 ◽  
Vol 9 (08) ◽  
pp. 857-865
Author(s):  
Nidhi Sharma ◽  
◽  
Shivani Peppal ◽  
Keyword(s):  
Public Sector ◽  
Grey Zone ◽  
Manufacturing Companies ◽  
Financial Health ◽  
Z Score ◽  
Common Condition ◽  
Score Analysis ◽  
Score Model

Financial distressed from a decade has become a common condition for manufacturing companies of India. Many public sector manufacturing companies have also witnessing poor financial health. This study has examined the financial health of eighteen selected public sector manufacturing companies which are further divided into four sectors as Metal, Sugar, Paper and Textile. The examination of financial health of selected companies has been performed by calculating Altman Z-score model for four year prior to become distressed. And it has been found by the analysis that most of the company was in either distressed zone or in grey zone. The study also finds that Altman Z-Score Model is a perfect tool to examine the health of public sector manufacturing companies.

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