ANALISIS Z-SCORE DALAM MENGUKUR KINERJA KEUANGAN UNTUK MEMPREDIKSI KEBANGKRUTAN PERUSAHAAN MANUFAKTUR PADA MASA PANDEMI COVID-19

Authors

  • Kristina Dewanti Setyaningrum Universitas Kristen Satya Wacana ``
  • Apriani Dorkas Rambu Atahau Universitas Kristen Satya Wacana ``
  • Imanuel Madea Sakti Universitas Kristen Satya Wacana ``

DOI:

https://doi.org/10.34128/jra.v3i2.62

Keywords:

Altman Z-score, Financial Distress, Perusahaan Manufaktur

Abstract

A manufacturing company is a business entity whose main activity is to process raw materials into finished goods, therefore they have a sale value. During the covid-19 pandemic, many manufacturing companies were threatened with bankruptcy. That is because the company’s performance has decreased. The purpose of this research is to compare how big the opportunities of PT. Astra International, PT. Mandom Indonesia, PT. Gudang Garam, and PT. Sri Rejeki Isman bankruptcy as a result of covid-19 by using the Altman z-score model. Financial distress is a situation where a company experiences liquidity difficulties or the ability to fulfill its obligations. Based on the results of PT. Astra International from 2016 to 2020 in the first quarter was potentially bankruptcy, while in the second quarter the company was based on the grey area. PT. Mandom Indonesia both in the first quarter and second quarter in healthy. PT. Gudang Garam in first quarter and second quarter in the grey area. PT. Sri Rejeki Isman in the first quarter and second quarter classified as a potentially bankrupt company.

References

Dewi, H. (2020). Gara-gara pandemi Covid-19, volume penjualan Gudang Garam (GGRM) makin turun. Retrieved from https://investasi.kontan.co.id/news/gara-gara-pandemi-covid-19-volume-penjualan-gudang-garam-ggrm-makin-turun
Ekonomi, G. (2019). Financial Distress _ Pengertian, Katagori, Jenis, Penyebab Terlengkap. Retrieved from 4 Juli website: https://sarjanaekonomi.co.id/financial-distress/
Iskandar, A., Possumah, B. T., & Aqbar, K. (2020). Peran Ekonomi dan Keuangan Sosial Islam saat Pandemi Covid-19. Jurnal Sosial Dan Budaya Syar-I, 7(7), 625–638. https://doi.org/10.15408/sjsbs.v7i7.15544
Kontan. (2020). Produk Hand Sanitizer Menjadi Sandaran Kinerja Mandom Indonesia (TCID). Retrieved from https://facsekuritas.co.id/news/corporate-action/produk-hand-sanitizer-menjadi-sandaran-kinerja-mandom-indonesia-tcid
Kurniawansyah, H., Salahuddin, Amrullah, Muslim, & Nurhidayati, S. (2020). Konsep Kebijakan Strategis Dalam Menangani Eksternalitas Ekonomi Dari Covid-19 Pada Masyarakat Rentan Di Indonesia. Indonesian Journal of Social Sciences and Humanities, 1(2), 130–139.
Maksum, A., & Wardayani. (2020). Analisis Potensi Kebangkrutan : Perbandingan Model Altman dengan Zavgren. Perspektif, 9(2), 447–452.
Oktarina, E. (2017). Analisis Prediksi Kebangkrutan Dengan Metode Altman Z-score Pada PT. BRI Syariah. Raden Fatah.
Oktary, D. (2020). Analisis Prediksi Kebangkrutan Menggunakan Model Altman Z-Score dan Zmijewski pada Perusahaan Kosmetik yang Terdaftar di Bursa Efek Indonesia. 5(1), 24–33.
Pratiwi, L., Amboningtyas, D., & Fathoni, A. (2019). Analisis Laporan keuangan Dengan Menggunakan Model Altman Z-score Dan Springate Dalam memprediksi Kebangkrutan (Studi Pada Perusahaan Kosmetik Yang terdaftar Di IDX Pada Tahun 2013-2017). Journal Of Management, 5, 1–15.
Riantani, S., Delvia, S., & Sodik, G. (2020). Model Prediksi Financial Distress : Pengaruhnya Terhadap Kinerja Saham Industri Tekstil dan Garmen di Indonesia. Bisma: Jurnal Bisnis Dan Manajemen, 14(1), 1–9.
Rohmah, S. N. (2020). Adakah Peluang Bisnis di Tengah Kelesuan Perekonomian Akibat Pandemi Coronavirus Covid-19 ? Buletin Hukum Dan Keadilan, 4(1), 63–74.
Sari, N. R., & Arif, M. F. (2020). Mendeteksi Financial Distress dengan Model Altman Z- Score. Jurnal Ilmiah Akuntansi Dan Humanika, 10(1), 93–102.
Sawiya, R., & Munandar, A. (2015). Analisis Z-score Untuk Memprediksi Kebangkrutan Pada Perusahaan Farmasi Di Indonesia. Jurnal Karya Ilmiah, 1–11.
Sidik, S. (2020). Dampak Covid-19, Laba Astra Kuartal I-2020 Drop 8%. Retrieved from https://www.cnbcindonesia.com/market/20200427170341-17-154774/dampak-covid-19-laba-astra-kuartal-i-2020-drop-8
Sudarwan, I. A. (2020). Kinerja Kuartal I_2020 _ Bisnis Alat Berat Lesu, Laba Bersih Astra (ASII) Tergerus. Retrieved from https://market.bisnis.com/read/20200427/192/1233462/kinerja-kuartal-i2020-bisnis-alat-berat-lesu-laba-bersih-astra-asii-tergerus
Waresa, M. (2020). Q1 Laba Gudang Garam Bisa Naik 4%, tapi Sahamnya Drop 15%. Retrieved from https://www.cnbcindonesia.com/market/20200429140601-17-155263/q1-laba-gudang-garam-bisa-naik-4-tapi-sahamnya-drop-15

Downloads

Published

2020-12-29