Abstract

Altman discriminant analysis application for bankruptcy prediction rate (study of case in company textiles and textile products listed in the JSX)
(Alumnus Program Studi Akuntansi UMM)

This research is a case study at Jakarta Stock Exchange entitled “Application of Altman Discriminant Analysis to predicting the loss rate (Case Study at textile and textile product company that written at Jakarta Stock Exchange)”. The purpose of this research is to know the Altman Discriminant analysis to predicting the loss rate at textile and textile product company written at Jakarta Stock Exchange. In this research, writer take the hypothesis that is have the differences of financial activity that significant between lose company and not lose company.
Instrument of analysis using in this research is Altman Discriminant Analysis. Instrument of test using to know the differences of financial activity between the lose company and not lose company that written at Jakarta Stock Exchange is testing hypothesis, that is with consider F test with F table. If F test more high than F table, then reported have the differences of financial activity between the lose company and not lose company. This research using F test equal to 28.911 and F table equal to 1.839. While the discriminant equality gotten is Z = 0,949X1 + 0,714X2 + 0,585X3 – 0,666X5.
From the result of research just have the differences of financial activity at the lose company and not lose company, that is the textile and textile product company written at Jakarta Stock Exchange. Based on the conclusion above, writer can implicate that as well as the company management of textile and textile product company that lose need observe result of this research as a consider instrument to make the service and increase the financial activity with emphasize at the factors identified as cause of loss.
Keywords: Altman Discrminant, financial activity

Sumber :
http://www.snapdrive.net/files/572779/0529fe41331c5a4899660dfaa3d380d5.pdf


FINANCIAL RATIO ANALYSIS FOR PREDICTING FINANCIAL CONDITION Distress MANUFACTURING COMPANY REGISTERED IN JAKARTA STOCK EXCHANGE SECURITIES

Luciana Spica Almilia
Emanuel Kristijadi
STIE Perbanas Surabaya

Abstrak:
Financial distress precedes bankruptcy. Most financial distress models actually rely on bankruptcy data, which is easier to obtain. The purpose of this research is to examine financial ratios that affect financial distress condition of a firm. The sample of this research consist of 24 distress firms and 37 non-distress firms, it is chosen by purposive sampling. The statistic method which is used to test on the research hypothesis is logistic regression. The result show that profit margin ratio (net income/net sales), financial leverage ratio (current liabilities/total assets), liquidity ratio (current assets/current liabilities) and growth (net income/total assets growth) is a significant variable to determine of financial distress firms.
Keywords: financial distress, financial ratios, bankruptcy.

sumber : http://spicaalmilia.files.wordpress.com/2007/04/model-financial-distress.pdf


Bankruptcy Indikators in Indonesia
An Additional Early Warning Tools
On Financial System Stability

Muliaman D Hadad(1) ,Wimboh Santoso(2) & Ita Rulina(3)
Desember 2003


The purpose of this study was to obtain empirical evidence about the factors corporate finance factors that could distinguish the company behavior in the bankruptcy and not bankrupt, and to compare the ability two techniques are often used in predicting bankruptcy. Techniques used in this study is Discriminant Analysis dan Logistic Regression. The coefficient of the independent variables estimate by using simultaneous approach to Discriminant Analysis and the maximum likelihood method for Logistic Regression. The study shows that the ratio of associated with the liquidity ratio is the best in discriminator distinguish the bankrupt company with a company that is not bankrupt. Furthermore, this study also showed that Logistic Regression is approach that is relatively better compared with Discriminant Analysis. This is reflected by correct value of Logistic Regrestion estimates of average higher than the correct value of Discriminant Analysis estimate that each respectively for 86.72% and 78.1% for year before the company went bankrupt.

sumber : www.bi.go.id