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Seluk Beluk Audit ForensikFind more Information
Latest event: Seluk Beluk Audit Forensik - 28/05/2016
|Research title and researcher|
|Research title||: Implementasi Altman Z-Score Model Pada Perusahaan Pertambangan Batubara || ISBN 978-602-74954-1-8; 9 Februari 2017|
|Researcher||: Annisa Aulia Romli, Lucia Ari Diyani|
|Keywords||: Altman Z-Score, Bankruptcy, Financial Ratio, Prediction|
This study aims to determine the company's bankruptcy prediction by implementing Altman Z-Score model of the coal mining company listed on the Indonesia Stock Exchange 2011-2015 period. In this study a swab companies using random purposive sampling, from 23 coal companies listed on the Indonesia Stock Exchange there are five companies that match the criteria of the study sample is Barajaya International Tbk, Samindo Resources Tbk, Perdana Karya Perkasa Tbk, Tambang Batu Bara Bukit Asam Tbk, and Golden Eagle Energy Tbk. This research used quantitative descriptive analysis and data collection techniques performed through literature. Altman Z-Score using 5 ratio is (X1) Working Capital to Total Assets, (X2) Retained Earnings to Total Assets, (X3) Earnings Before Interest and taxes to Total Assets, (X4) Market Value of Equity to Book Value of Total liabilities and (X5) Sales to Total Assets of the formula Z-Score = 1.2 X1 X2 + 3.3 + 1.4 + 0,6X4 + 0,999 X3 X5 with outcome indicators grouped in the category of healthy (Z> 2.90 ), gray area (Z-score between 1.20 to 2.90), and bankrupt (Z <1.20). The overall result of five companies surveyed showed potentially bankrupt company so that investors and prospective investors should consider the investment decision that will be made in the coal mining company.
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