COMPARATIVE ANALYSIS OF FINANCIAL DISTRESS BY USING THE BANKRUPTCY PREDICTION MODEL (Case Study of Registered Tourism Sub-Sector Companies on the Indonesian Stock Exchange Period 2017 - 2019)
Gusganda Suria Manda (a), Rabhi Fathan Muhammad(a*), Angga Sanita Putra (a), Liya Megawati (a), Gabriela Prisy Anggraeni (a)

a: Faculty of Economics, Universitas Singaperbangsa Karawang, Karawang 413361, Indonesia
*rabhifm[at]fe.unsika.ac.id

Abstract

This study aims to determine, describe and analyze the Modified Altman Z-Score Model, Grover G-Score Model, Springate S-Score Model, and Zmijew-ski X-Score Model whether or not it has a high level of accuracy in predicting financial distress in companies. The Tourism sub-sector is listed on the Indo-nesia Stock Exchange for the 2017 - 2019 period. This study uses secondary data in the form of the company^s annual financial reports. The population of this study consisted of 24 companies and ten companies as samples using a purposive sampling technique.

The research method used is the comparative quantitative method. The data were processed using Microsoft Excel software, and the results showed that the four bankruptcy prediction models used had a high degree of accuracy, where the Grover G-Score and Zmijewski X-Score models had the highest level, namely 100%, Modified Altman Z-Model Score 83 % and Model Springate S-Score 33%. These results have been compared from one model to another. The results signal or sign that the company is in financial distress and must imme-diately implement the right strategy.

Keywords: Comparative, Financial Distress, Bankruptcy Prediction Model, Tourism.t Try to Submit This Sample Abstract

Topic: Financial Management and Accounting