Financial Distress Analysis and Accuracy Test with The Altman Model Approach, Springate And Zmijweskiin Automotif and Components Manufacturing Companies E Listed On The Idx In 2016–2020

Yenni Del Rosa, Febriani Febriani, Sapta Eka Putra

Abstract


Problems of automotive and component companies the IDX in 2016-2020there are financial difficulties as a result turn sales resulting in financial distress. The research objective is to determine financial potential distress using the Altman, Springate, and Zmijewski models and testing accuracy on automotive and component companies listed on the IDX in 2016-2020. The research data comes from secondary data. Research population 13 and sample 60 data determined by purposive sampling Data analysis using descriptive statistics. The results of the study (1) According to the Altman model, 2 companies experience financial distress, 2 are gray area companies and 8 are non-financial distress companies. (2) According to the Springate model, there are 7 financial distress companies and 5 non-distress financial companies. (3) According to the Zmijweski model 12 non- distressed financial companies. (4) The Zmijweski model is the most accurate model for predicting financial distress because it has an accuracy rate of 100%, the Altman model has an accuracy rate of 66.7% and the Springate model has an accuracy rate of 41.7%

Keywords


financial distress and financial non-distress

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DOI: http://dx.doi.org/10.52155/ijpsat.v36.2.4944

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