ANALISIS ALTMAN Z SCORE UNTUK MEMPREDIKSI TINGKAT PEMULIHAN SETELAH KRISIS 2008 ATAS 50 PERUSAHAAN DENGAN KAPITALISASI TERBESAR DIBEI
Crisis in 2008 caused significant price decrement of most of the stocks in Indonesia Stock Exchange (ISX), and in a year period after the lowest ISX composite index, there�re some stocks that succeed to recover its price to the level before the crisis, or even higher. But there�re also some stoc...
| Main Authors: | , |
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| Format: | Thesis |
| Published: |
[Yogyakarta] : Universitas Gadjah Mada
2013
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| Subjects: |
| _version_ | 1797033360734814208 |
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| author | , Handi Utama Tendi , Prof. Dr. Slamet Sugiri, M.B.A., Ak. |
| author_facet | , Handi Utama Tendi , Prof. Dr. Slamet Sugiri, M.B.A., Ak. |
| author_sort | , Handi Utama Tendi |
| collection | UGM |
| description | Crisis in 2008 caused significant price decrement of most of the stocks in
Indonesia Stock Exchange (ISX), and in a year period after the lowest ISX composite
index, there�re some stocks that succeed to recover its price to the level before the
crisis, or even higher. But there�re also some stocks that could not recover to level
before the crisis.
This research�s objective is to analyze the financial ratios in Altman Z score
formula (bankruptcy analysis), in determination to predict recovery rate after the
crisis in 2008, on the top 50 companies with big capitalization in ISX, and also to see
the dominant financial ratios that determine on recovery of non-bank and bank
companies.
Data collection method that used in this research is financial ratios data
during 4 years, since 2005 until 2008. This research is using normality test and
discriminants test stepwise method. The samples in this research, are being classified
into two groups, RECOVERED and FAILED, based on the price recovery rate before
and after the crisis in 2008.
This research results are showing that for composite all non-bank and bank
companies, which have different financial structure, failed to generate a model for
non-bank and bank companies together. So financial ratios of both types of the
companies, cannot be used to predict the recovery status of the stock price after the
crisis in 2008. While for non-bank companies, there�s a financial ratio - sales to total
assets (S/TA) that significantly differentiate between two groups RECOVERED and
FAILED, and with high accuracy, which also higher than the accuracy of Altman Z
score formula. For bank companies, there�re two financial ratios - market value of
equity to book value of total debts (MVE/BVD) and sales to total assets (S/TA) that
significantly differentiate between two groups RECOVERED and FAILED. And with
high accuracy, which also much higher than the accuracy of Altman Z score formula |
| first_indexed | 2024-03-13T22:52:44Z |
| format | Thesis |
| id | oai:generic.eprints.org:120404 |
| institution | Universiti Gadjah Mada |
| last_indexed | 2024-03-13T22:52:44Z |
| publishDate | 2013 |
| publisher | [Yogyakarta] : Universitas Gadjah Mada |
| record_format | dspace |
| spelling | oai:generic.eprints.org:1204042016-03-04T08:38:39Z https://repository.ugm.ac.id/120404/ ANALISIS ALTMAN Z SCORE UNTUK MEMPREDIKSI TINGKAT PEMULIHAN SETELAH KRISIS 2008 ATAS 50 PERUSAHAAN DENGAN KAPITALISASI TERBESAR DIBEI , Handi Utama Tendi , Prof. Dr. Slamet Sugiri, M.B.A., Ak. ETD Crisis in 2008 caused significant price decrement of most of the stocks in Indonesia Stock Exchange (ISX), and in a year period after the lowest ISX composite index, there�re some stocks that succeed to recover its price to the level before the crisis, or even higher. But there�re also some stocks that could not recover to level before the crisis. This research�s objective is to analyze the financial ratios in Altman Z score formula (bankruptcy analysis), in determination to predict recovery rate after the crisis in 2008, on the top 50 companies with big capitalization in ISX, and also to see the dominant financial ratios that determine on recovery of non-bank and bank companies. Data collection method that used in this research is financial ratios data during 4 years, since 2005 until 2008. This research is using normality test and discriminants test stepwise method. The samples in this research, are being classified into two groups, RECOVERED and FAILED, based on the price recovery rate before and after the crisis in 2008. This research results are showing that for composite all non-bank and bank companies, which have different financial structure, failed to generate a model for non-bank and bank companies together. So financial ratios of both types of the companies, cannot be used to predict the recovery status of the stock price after the crisis in 2008. While for non-bank companies, there�s a financial ratio - sales to total assets (S/TA) that significantly differentiate between two groups RECOVERED and FAILED, and with high accuracy, which also higher than the accuracy of Altman Z score formula. For bank companies, there�re two financial ratios - market value of equity to book value of total debts (MVE/BVD) and sales to total assets (S/TA) that significantly differentiate between two groups RECOVERED and FAILED. And with high accuracy, which also much higher than the accuracy of Altman Z score formula [Yogyakarta] : Universitas Gadjah Mada 2013 Thesis NonPeerReviewed , Handi Utama Tendi and , Prof. Dr. Slamet Sugiri, M.B.A., Ak. (2013) ANALISIS ALTMAN Z SCORE UNTUK MEMPREDIKSI TINGKAT PEMULIHAN SETELAH KRISIS 2008 ATAS 50 PERUSAHAAN DENGAN KAPITALISASI TERBESAR DIBEI. UNSPECIFIED thesis, UNSPECIFIED. http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=60435 |
| spellingShingle | ETD , Handi Utama Tendi , Prof. Dr. Slamet Sugiri, M.B.A., Ak. ANALISIS ALTMAN Z SCORE UNTUK MEMPREDIKSI TINGKAT PEMULIHAN SETELAH KRISIS 2008 ATAS 50 PERUSAHAAN DENGAN KAPITALISASI TERBESAR DIBEI |
| title | ANALISIS ALTMAN Z SCORE UNTUK MEMPREDIKSI TINGKAT PEMULIHAN
SETELAH KRISIS 2008 ATAS 50 PERUSAHAAN DENGAN KAPITALISASI TERBESAR DIBEI |
| title_full | ANALISIS ALTMAN Z SCORE UNTUK MEMPREDIKSI TINGKAT PEMULIHAN
SETELAH KRISIS 2008 ATAS 50 PERUSAHAAN DENGAN KAPITALISASI TERBESAR DIBEI |
| title_fullStr | ANALISIS ALTMAN Z SCORE UNTUK MEMPREDIKSI TINGKAT PEMULIHAN
SETELAH KRISIS 2008 ATAS 50 PERUSAHAAN DENGAN KAPITALISASI TERBESAR DIBEI |
| title_full_unstemmed | ANALISIS ALTMAN Z SCORE UNTUK MEMPREDIKSI TINGKAT PEMULIHAN
SETELAH KRISIS 2008 ATAS 50 PERUSAHAAN DENGAN KAPITALISASI TERBESAR DIBEI |
| title_short | ANALISIS ALTMAN Z SCORE UNTUK MEMPREDIKSI TINGKAT PEMULIHAN
SETELAH KRISIS 2008 ATAS 50 PERUSAHAAN DENGAN KAPITALISASI TERBESAR DIBEI |
| title_sort | analisis altman z score untuk memprediksi tingkat pemulihan setelah krisis 2008 atas 50 perusahaan dengan kapitalisasi terbesar dibei |
| topic | ETD |
| work_keys_str_mv | AT handiutamatendi analisisaltmanzscoreuntukmemprediksitingkatpemulihansetelahkrisis2008atas50perusahaandengankapitalisasiterbesardibei AT profdrslametsugirimbaak analisisaltmanzscoreuntukmemprediksitingkatpemulihansetelahkrisis2008atas50perusahaandengankapitalisasiterbesardibei |