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Journal articles on the topic 'Bankrupt companies'

Author: Grafiati

Published: 3 June 2025

Last updated: 31 July 2025

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1

A.Kadim, A. Kadim, Adji Suratman, and Muhammad Abdul Muis. "ANALISIS RISIKO KEBANGKRUTAN DENGAN METODE ALTMAN Z-SCORE, SPRINGATE, DAN ZMIJEWSKI PADA PERUSAHAAN HIBURAN KOREA YANG TERCATAT DI BURSA KOREA TAHUN 2012 – 2016." Jurnal SEKURITAS (Saham, Ekonomi, Keuangan dan Investasi) 2, no. 2 (2019): 141. http://dx.doi.org/10.32493/skt.v2i2.2496.

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ABSTRACTThis study aims to analyze the risk of bankruptcy in Korean entertainment companies listed on the Korean Exchange in 20122016. The research methodology used is a comparative descriptive method with panel data and quantitative data obtained on the Korean Exchange. Sampling technique using purposive sampling method with data during the period of 2012 until 2016. Data analysis techniques used are different test techniques. The results of this research showed that calculation with altman zscore was able to predicts 19 non-bankrupt companies, 3 companies in grey area, and 3 bankrupt compani

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Ika, Yuanita, Trinanto Novirwan, Sumiarti Elni, and Yenida. "Bankruptcy Prediction Model Under Uncertainty in Indonesia." International Journal of Social Science and Human Research 08, no. 04 (2025): 2583–92. https://doi.org/10.5281/zenodo.15314662.

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This paper assesses three issues in predicting of the bankruptcy under uncertainty in the COVID-19 pandemic within the Textile and Garment companies listing in the IDX Stock Exchange. First, it determines the industry characteristics that categorizes potential to bankrupt or non-bankrupt. Second, it identifies predictors as the benchmark model’s that can indicate a company's potential to bankrupt. Third, it assesses the bankruptcy prediction panels are more significant than the benchmark model’s that concerning the financial ratios, firm characteristics, and macroeconomic. Using th

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Sulaeman, Retno Sulati, and Eka Nurcahyani. "ANALISIS ALTMAN Z-SCORE UNTUK MENILAI TINGKAT KESEHATAN KEUANGAN PERUSAHAAN MANUFAKTUR SUB SEKTOR FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2017-2020." AKSELERASI: Jurnal Ilmiah Nasional 4, no. 1 (2022): 77–92. http://dx.doi.org/10.54783/jin.v4i1.530.

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This study aims to analyze the Altman Z-Score to assess the level of financial soundness of manufacturing companies in the pharmaceutical sub-sector. This research uses descriptive quantitative method. The type of data applied is quantitative data. Quantitative data in the form of business entity financial data obtained from annual financial reports that have been audited and published in pharmaceutical sub-sector manufacturing companies listed on the Indonesia Stock Exchange for the period 2017 to 2020. Based on the results of the analysis, it can be seen that in 2017 and In 2018, there were

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Noh, Seol-Hyun. "Comparing the Performance of Corporate Bankruptcy Prediction Models Based on Imbalanced Financial Data." Sustainability 15, no. 6 (2023): 4794. http://dx.doi.org/10.3390/su15064794.

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Forecasts of corporate defaults are used in various fields across the economy. Several recent studies attempt to forecast corporate bankruptcy using various machine learning techniques. We collected financial information on 13 variables of 1020 companies listed on the KOSPI and KOSDAQ to capture the possibility of corporate bankruptcy. We propose a data processing method for small-sample domestic corporate financial data. We investigate the case of random sampling of non-bankrupt companies versus sampling non-bankrupt companies based on approximate entropy and optimized threshold based on AUC

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Nashohah, Dalilatun, and Toha Barizi. "Analisis Financial Distress dengan Menggunakan Metode Springate Pada Perusahaan Sektor Pariwisata dan Transportasi Yang Terdaftar Di BEI Pada Tahun 2018– 2020." Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah 5, no. 6 (2023): 159–72. http://dx.doi.org/10.47467/alkharaj.v5i6.159.

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The purpose of this research is to find out which companies have indications of bankruptcy in the tourism and transportation sectors, both of which are experiencing a slump after the outbreak of the covid-19 pandemic. This research is a descriptive quantitative study using secondary data. The sample in this study was 51 companies consisting of 20 companies registered in the tourism sector and 31 companies registered in the transportation sector companies. This study found that in the tourism sector, on average, it was in the bankrupt category, there were only 6 (30%) companies in the safe cate

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Shiv Ranjan. "A Study on Earnings Management of Indian Bankrupt Companies." Journal of Information Systems Engineering and Management 10, no. 34s (2025): 76–88. https://doi.org/10.52783/jisem.v10i34s.5777.

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In order to suppress their financial crises from stakeholders and prevent unfavorable outcomes like a damaged reputation or legal action, bankrupt enterprises could be more motivated to forge revenues. Therefore, in comparison to other organizations, bankrupt firms are probably going to be more involved in actual earnings management. We have thus made the decision to look at how much real earnings management is used by bankrupt firms in comparison to other businesses. This study imparts evidence that managers in bankrupt companies employ real earnings management (REM) activities to manipulate

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Rismadi, Maulivia Riska, Meutia Handayani, Rizki Ramadhan, Cut Yunina Eriva, and Talbani Farlian. "Prediksi Kebangkrutan Menggunakan Metode Altman dan Springate pada Perusahaan Penerbangan yang Terdaftar di Bursa Efek Indonesia." Jurnal Penelitian Ekonomi Akuntansi (JENSI) 7, no. 1 (2023): 91–100. http://dx.doi.org/10.33059/jensi.v7i1.7671.

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This study aims to predict bankruptcy in airline companies listed on the Indonesia Stock Exchange, using the Altman and Springate methods during the 2019-2021 period. This research uses quantitative methods in the form of secondary data. The data used is in the form of financial statement data for airline companies listed on the IDX through the website www.idx.com. The population used are airline companies, namely, PT Garuda Indonesia Tbk, PT Air Asia Indonesia Tbk, PT Indonesia Transport & Infrastructure Tbk, and PT Jaya Trishindo Tbk. The results of the Altman and Springate methods can c

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Wulansari, Siska, and Nelvirita Nelvirita. "Prediksi Kebangkrutan dengan Model Grover, Altaman Z-Score, Springate, Zmijewski, Olhson dan Fulmer: pada Perusahaan Pertambangan di Bursa Efek Indonesia (BEI) Tahun 2017 – 2021." Jurnal Nuansa Karya Akuntansi 2, no. 3 (2024): 307–19. https://doi.org/10.24036/jnka.v2i3.54.

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The aim of this research is to determine (1) predictions of bankruptcy for mining companies listed on the Indonesia Stock Exchange using the Altman Z-Score, Springate, Fulmer, Ohlson, Zmijewski and Grover models from 2017 to 2021, and (2) to determine the level of accuracy six models in predicting bankruptcy. The sampling method used purposive sampling with several criteria which resulted in 37 samples of mining companies during 5 years of data observation. The research results show that, using the Altman model and the Ohlson model, it is estimated that 12 companies will experience bankruptcy.

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Alfitra Rinaldo, Hasnati, and Indra Afrita. "JURIDICAL REVIEW AGAINST REJECTION OF PEACE IN THE CASE OF BONDED COMPANY." JILPR Journal Indonesia Law and Policy Review 2, no. 2 (2021): 73–90. http://dx.doi.org/10.56371/jirpl.v2i2.45.

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Parties who take the initiative to apply for PKPU are generally debtors, namely debtors who are unable or expected to be unable to continue paying their debts, PKPU requests can also come from creditors who have calculated that the debtor will no longer be able to pay the debt. -the debt. The formulation of the problem in this research is how is the juridical review of the bankrupt company, how is it?Juridical Review of Refusal of Peace in Bankrupt Companies, and howLegal Consequences of Refusal of Reconciliation in Cases of Bankrupt Companies. The purpose of this study is to analyze the jurid

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Chekanova, I. Yu. "FEATURES OF BANKRUPTCY OF THE DEBTOR ORGANIZATION: RULES OF PROCEDURE." Business Strategies, no. 1 (February 7, 2018): 12–15. http://dx.doi.org/10.17747/2311-7184-2018-1-12-15.

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Nowadays companies go bankrupt rather frequently, which is mainly due to difficult business environment. It is necessary to find a reasonable approach to the problem of corporate bankruptcy that should result in companies reducing their risks and saving their money. This article touches upon the major reasons for involuntary bankruptcy, the process of filing a bankruptcy petition, and some possible consequences of becoming bankrupt for the company.

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Al-Hroot, Yusuf Ali Khalaf. "Bankruptcy Prediction Using Multilayer Perceptron Neural Networks In Jordan." European Scientific Journal, ESJ 12, no. 4 (2016): 425. http://dx.doi.org/10.19044/esj.2016.v12n4p425.

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This study attempts to develop bankruptcy prediction model for the Jordanian industrial sector with a recent approach—neural networks. The multilayer perceptron neural network (MPNN) approach was used to develop the bankruptcy prediction model for the Jordanian industrial companies for the period from 2000 to 2015. The samples have been divided into two subsets: the first set for developing or building the model, made up of 14 companies, of which 7 are bankrupt and 7 are non-bankrupt; while the second is a hold-out sample for testing the model, made up of 18 companies, of which 9 are bankrupt

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Ismanto, Deny, and Dyah Ernawati. "Analisis Diskriminan Untuk Memprediksi Kebangkrutan Perusahaan: Studi Kasus Pada Perusahaan Sektor Textile Dan Garment Di Bursa Efek Indonesia 2016-2018." Jurnal Sains Sosio Humaniora 5, no. 1 (2021): 132–40. http://dx.doi.org/10.22437/jssh.v5i1.13978.

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Failure to make a continuous profit will hamper the company's development and this can lead to bankruptcy. Bankruptcy is usually marked by financial distress. Companies that are not able to overcome financial difficulties and problems are getting protracted, then the company will go bankrupt. One way to predict bankruptcy is by using discriminant analysis. This type of research is descriptive with a quantitative approach. The data collection method used is documentation. The population in this study were Textile & Garment companies listed on the IDX in 2016-2018. The sampling technique was

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Pramana, Raditya Triatmaji, and Bambang Dwi Baskoro. "The Board of Directors' Criminal Liability for Companies Which Declared On Bankruptcy." Jurnal Daulat Hukum 4, no. 4 (2021): 239. http://dx.doi.org/10.30659/jdh.v4i4.17784.

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Bankruptcy is regulated in Act No. 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations (PKPU). In the regulation, the company is declared bankrupt, meaning that when the debtor (debt owner) has two or more creditors (debtors) who do not pay debts that are due and can be collected (cause of bankruptcy). The responsibility of the Board of Directors whose company is experiencing bankruptcy is in principle the same as the responsibility of the Board of Directors whose company is not experiencing bankruptcy. Bankruptcy status applies when there is a decision of the Commerc

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Dian Dwi Sahniar, Tatas Ridho Nugroho, Nurdiana Fitri Isnaini, and Imam Baidlowi. "Analisis Laporan Keuangan Untuk Memprediksi Tingkat Kebangkrutan Dengan Menggunakan Model Altman Z- Score, Grover dan Zmijewski." Jurnal Mutiara Ilmu Akuntansi 1, no. 4 (2023): 119–30. http://dx.doi.org/10.55606/jumia.v1i4.1998.

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This study aims to analyze financial statements to determine the potential for bankruptcy in companies in the transportation and logistics sector using the Altman Z-score, Grover and Zmijewski methods. The research used is quantitative with a descriptive approach. The population used is 28 companies in the transportation and logistics sector. The sample used in this research was 15 companies using purposive sampling technique in taking the sample. Statistical analysis in this study uses the calculation of the company's financial ratios from each bankruptcy method. The data used is secondary da

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Shubhan, M. Hadi, Indrawati, and Dri Utari CR. "LEGAL RESTRICTION OF BANKRUPTCY OF STATE-OWNED ENTERPRISE (SEO) AND SUSTAINABILITY: THE CASE OF INDONESIA." Humanities & Social Sciences Reviews 8, no. 1 (2020): 674–81. http://dx.doi.org/10.18510/hssr.2020.8181.

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Purpose of Study: This research examines the possibility of state-owned enterprises being nailed in the legal system in Indonesia. According to the bankruptcy regulation in Indonesia, those who are unable to pay debts can be declared bankrupt by the creditors, including SOEs. However, other regulations state that the government’s assets (including those within SOEs) cannot be confiscated, including within bankruptcy confiscation. Methodology: The research method used in this study is qualitative research using the type of doctrinal law research. The approach used is to use the statutory

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Asiah, Nur, Fajar Sugianto, and Agus Budianto. "Revitalization of Curator Authority to Public Companies Declared Bankruptcy." Journal of Academic Science 1, no. 6 (2024): 697–705. http://dx.doi.org/10.59613/tzft5t04.

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This article discusses a public company declared bankrupt by the Commercial Court due to the rejection of its proposed settlement plan in the process of Suspension of Debt Payment Obligations (PKPU). As a result, the public company is declared bankrupt and is in a state of insolvency. However, the Financial Services Authority (OJK) continues to impose obligations on the bankrupt public company, such as adhering to the principle of transparency and submitting annual reports and periodic financial reports, which are not regulated in Law No. 37 of 2004 concerning Bankruptcy and Suspension of Debt

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Dewi, Erwita. "PREDIKSI TINGKAT KEBANGKRUTAN PERUSAHAAN PERTAMBANGAN BATU BARA YANG TERDAFTAR Di BURSA EFEK INDONESIA TAHUN 2014-2015." Jurnal Sains Sosio Humaniora 1, no. 2 (2017): 156–73. http://dx.doi.org/10.22437/jssh.v1i2.4298.

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This study aims to determine the financial statements prior to the bankruptcy can be used to predict the rate of bankruptcy with Altman Model and Foster on coal mining company listed on the Indonesia Stock Exchange. Model classification Altman Z score Z score> 2.90 is classified as a healthy company, while the company has a Z score <1.20 were classified as potentially bankrupt company. Furthermore, scores between 1.20 to 2.90 is classified as a company in the gray area or the gray area. While the Model Z score Foster use the "Cut-off Point" Z = 0.640, so companies that have Z < 0.640

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DEWI, ERWITA. "PREDIKSI TINGKAT KEBANGKRUTAN PERUSAHAAN PERTAMBANGAN BATU BARA YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2014-2015 (DENGAN METODE Z-SCORE ALTMAN DAN Z-SCORE FOSTER)." Jurnal Manajemen Terapan dan Keuangan 6, no. 1 (2017): 1–22. http://dx.doi.org/10.22437/jmk.v6i1.3790.

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This study aims to determine the financial statements prior to the bankruptcy can be used to predict the rate of bankruptcy with Altman Model and Foster on coal mining company listed on the Indonesia Stock Exchange. Model classification Altman Z score Z score> 2.90 is classified as a healthy company, while the company has a Z score <1.20 were classified as potentially bankrupt company. Furthermore, scores between 1.20 to 2.90 is classified as a company in the gray area or the gray area. While the Model Z score Foster use the "Cut-off Point" Z = 0.640, so companies that have Z <0.640 b

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Latupono, Sabrina Alifya Rahmadira, and Christina Juliana. "ANALISIS IMPLEMENTASI ALTMAN Z-SCORE PADA PERUSAHAAN SEKTOR PROPERTI DAN REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA SELAMA MASA PANDEMI COVID-19 TAHUN 2019-2021." Prosiding Working Papers Series In Management 14, no. 2 (2022): 573–96. http://dx.doi.org/10.25170/wpm.v14i2.4217.

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The property and real estate sector is one of the sectors that has been quite severely affected by the Covid-19 pandemic. Almost all companies in this sector experienced a significant decline in sales due to reduced consumer demand. Therefore, this research aims to analyse the potential bankruptcy of property and real estate sector companies during the Covid-19 pandemic using the Altman Z-Score method. Samples were taken using the purposive sampling method, with 31 companies as the selected sample. Analysis of the data used is descriptive quantitative analysis with data sources in the form of

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Kanász, Róbert, Peter Gnip, Martin Zoričák, and Peter Drotár. "Bankruptcy prediction using ensemble of autoencoders optimized by genetic algorithm." PeerJ Computer Science 9 (June 8, 2023): e1257. http://dx.doi.org/10.7717/peerj-cs.1257.

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The prediction of imminent bankruptcy for a company is important to banks, government agencies, business owners, and different business stakeholders. Bankruptcy is influenced by many global and local aspects, so it can hardly be anticipated without deeper analysis and economic modeling knowledge. To make this problem even more challenging, the available bankruptcy datasets are usually imbalanced since even in times of financial crisis, bankrupt companies constitute only a fraction of all operating businesses. In this article, we propose a novel bankruptcy prediction approach based on a shallow

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Stojanović, Tamara, and Ljiljana Drinić. "Applicability of Z-score Models on the Agricultural Companies in the Republic of Srpska (Bosnia and Herzegovina)." АГРОЗНАЊЕ 18, no. 4 (2018): 227. http://dx.doi.org/10.7251/agren1704227s.

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The aim of our research was to test the predictability of Altman’s Z-score models in the case of agricultural companies in the Republic of Srpska. Due to the fact that according to these models the companies from the critical zone are supposed to go bankrupt in the near future, while the companies from the safe zone are not supposed to go bankrupt, these two groups of companies have been subject to ex-ante analysis during the period of five years (2011-2015) in order to estimate the predicting efficiency of Z-score models. The authors have also performed the ex-post analysis to see how the ban

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Bogdan, Siniša, Luka Šikić, and Suzana Bareša. "Predicting bankruptcy based on the full population of Croatian companies." Ekonomski pregled 72, no. 5 (2021): 643–69. http://dx.doi.org/10.32910/ep.72.5.1.

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This paper analyses the bankruptcy prediction based on the population of companies representative of the total business sector in Croatia. The representativity of the sample is achieved through the propensity score matching of the full population of bankrupt and similar non-bankrupt companies. The robust estimation of bankruptcy prediction is carried out through the multiple discriminant analysis (MDA) and logistic regression (logit). The results indicate high classification accuracy of both models, but more favourable performance of the logit estimation. Overall accuracy of the MDA model was

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Kopczyński, Paweł. "Bankruptcy risk assessment of Polish listed companies using Asian multiple discriminant analysis models." Zeszyty Teoretyczne Rachunkowości 46, no. 2 (2022): 69–96. http://dx.doi.org/10.5604/01.3001.0015.8810.

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Purpose: The main purpose of this article is to evaluate whether multiple discriminant analysis models developed in Malaysia to forecast the bankruptcy of Malaysian indus-trial companies and Singaporean companies can be useful in assessing the risk of bank-ruptcy of Polish listed companies. Methodology/approach: To test the efficacy of these discriminant models, the finan-cial statements of 25 bankrupt Polish companies and 25 viable companies were used. The accuracy of the classification of these enterprises into two groups (potential bank-ruptcy and companies able to survive on the market) wa

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Jaelani, Abdul Kadir, Ahmad Dwi Nuryanto, Rakotoarisoa Maminirina Fenitra, M. Misbahul Mujib, and Resty Dian Luthviati. "Legal protection of employee wage rights in bankrupt companies: evidence from China." Legality : Jurnal Ilmiah Hukum 31, no. 2 (2023): 202–23. http://dx.doi.org/10.22219/ljih.v31i2.25874.

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This study aims to identify the factors contributing to the legal protection of workers' wage rights in bankrupt companies in China, focusing on aspects that have not been grounded in social justice. This research is also to formulate and form a legal protection model for workers' wage rights in bankrupt companies based on social justice in Indonesia and China. This research is empirical. The research data is in the form of primary and secondary data (primary and secondary legal materials). The study results show that the factors that cause legal protection of workers' wage rights in bankrupt

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Aadilah, Salmaa Rif’at, and Teguh Parmono Hadi. "ANALISIS TINGKAT KEBANGKRUTAN SEBELUM DAN SAAT PANDEMI DENGAN MENGGUNAKAN METODE ALTMAN Z-SCORE DAN SPRINGATE S-SCORE (STUDI KASUS PADA PERUSAHAAN RETAIL YANG TERDAFTAR DI BURSA EFEK INDONESIA 2016-2020)." Dinamika Akuntansi Keuangan dan Perbankan 11, no. 1 (2022): 81–91. http://dx.doi.org/10.35315/dakp.v11i1.8963.

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This study aims to determine the difference in results in predicting bankruptcy using the Altman Z-Score model and the Springate S-Score model, as well as ineasures which model is most accurate in predicting bankruptcy at retail companies at Indonesia. The population used in this study are retail companies listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period with a sample of 11 companies. The sampling method used in this study was purposive sampling. The data analysis technique used multiple discriminant analysis. The results showed that there were differences in the results i

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Gruszczyński, Marek. "On Unbalanced Sampling in Bankruptcy Prediction." International Journal of Financial Studies 7, no. 2 (2019): 28. http://dx.doi.org/10.3390/ijfs7020028.

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The paper discusses methodological topics of bankruptcy prediction modelling—unbalanced sampling, sample bias, and unbiased predictions of bankruptcy. Bankruptcy models are typically estimated with the use of non-random samples, which creates sample choice biases. We consider two types of unbalanced samples: (a) when bankrupt and non-bankrupt companies enter the sample in unequal numbers; and (b) when sample composition allows for different ratios of bankrupt and non-bankrupt companies than those in the population. An imbalance of type (b), being more general, is examined in several sections o

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Kuběnka, Michal, Jan Čapek, and František Sejkora. "A NEW LOOK AT BANKRUPTCY MODELS." E+M Ekonomie a Management 24, no. 3 (2021): 167–85. http://dx.doi.org/10.15240/tul/001/2021-3-010.

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New models for bankruptcy prediction are constantly being formulated and tested against the current ones and current ones are tested to assess their current accuracy and to allow users to determine the reliability of the results when using the model. These models use accounting information as input data. Accounting systems, for example, US GAAP, or IFRS, contain rules that may be applied differently from one company to another without being breached. This leads to input data uncertainty. Likewise, uncertainties may arise due to errors in recording and transcribing input data or in translating

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Akhir, Husnul, and Islahuddin Islahuddin. "PREDICTING BANKRUPTCY ON MINING COMPANIES USING ALTMAN Z-SCORE MODEL (EMPIRICAL STUDY ON MINING COMPANIES LISTED IN INDONESIAN STOCK EXCHANGE YEAR 2014-2015)." Jurnal Ilmiah Mahasiswa Ekonomi Akuntansi 4, no. 3 (2019): 394–404. http://dx.doi.org/10.24815/jimeka.v4i3.12566.

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The aim of this study is to calculate Altman Z-Score to predict the possibility of bankruptcy of mining companies listed in Indonesia stock exchange based on the information from the annual financial statementwith observation ranging from 2014 until 2015. The type of data used is secondary data. The study employed Altmant Z-Score calculation on a targeted population of 22 mining companies listed on the Indonesia Stock Exchange.The analysis technique used is the prediction model of bankruptcy Altman Z-score. Using the formula Z-Score = 1,2X1 + 1,4X2 + 3,3X3 + 0,6X4 + 1,0X5, where X1 represents

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Billy Jayando Parasian Sinaga and Dewa Gede Pradnya Yustiawan. "Analisis Yuridis Insolvency Test dalam Penyelesaian Kepailitan dan PKPU Ditinjau dari UU No 37 Tahun 2004." Hukum Inovatif : Jurnal Ilmu Hukum Sosial dan Humaniora 1, no. 4 (2024): 186–93. https://doi.org/10.62383/humif.v1i4.656.

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According to Law Number 37 of 2004 tates that bankruptcy is general confiscation of assets of bankrupt debtor. Those failure to pay debtors commonly beacause of a strain in company's financial condition. The purpose of imposition of bankruptcy is to protect both bankrupt debtor and creditors. In the development of bankruptcy in Indonesia, the regulation of Insolvency test in imposing companies bankruptcy, especially companies with legal status, has not been regulated in Law No. 37 of 2004. Insolvency is the failure to done a financial responsibility in the due date as is appropriate in a compa

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Winike Kushindrajati Aprilia, Novi Diah Wulandari, and Fahmi Akbar Indries. "Potential Bankruptcy of Digital Companies in Indonesia: Analysis of Market Aspects and Financial Aspects Using Springate and Grover Methods." Economics, Business, Accounting & Society Review 2, no. 1 (2023): 20–32. http://dx.doi.org/10.55980/ebasr.v2i1.47.

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Digital companies are companies that are growing very rapidly, but face many problems that can lead to bankruptcy. Therefore, bankruptcy prediction is an important topic that must be considered. If a company wants to survive and develop, it must pay attention to financial and market aspects. Therefore, in this survey, we selected six digital companies listed on the IDX between 2018 and 2021 as samples using the observation method. The analytical method used is Springate and Grover because it is considered good for knowing the financial distress of a company. This study aims to determine the co

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Shinta Novitalia, Chairil Akhyar, Adnan, and Jumaini. "ANALYSIS OF COMPARISON OF BANKRUPTCY PREDICTION ABILITY BETWEEN ALTMAN Z-SCORE ANALYSIS AND ZMIJEWSKI X-SCORE ANALYSIS IN FINANCIAL SERVICES COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE 2017-2021 PERIOD." Journal of Accounting Research, Utility Finance and Digital Assets 2, no. 2 (2023): 718–23. http://dx.doi.org/10.54443/jaruda.v2i2.101.

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This study aims to determine the comparative analysis of bankruptcy predictive ability between the Altman z-score and Zmijewski x-score analyses of financial services companies listed on the Indonesia Stock Exchange for the 2017-2021 period. This study uses secondary data in the form of financial statements of each financial service company, where the sample used in this study is 41 financial service companies listed on the Indonesia Stock Exchange. The data analysis method used is the Altman z-score and Zmijewski x-score models with the help of Microsoft Excel 2019 software. The results of th

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Amanda, Elsie Zandra, and Apriani Dorkas Rambu Atahau. "PREDIKSI KEBANGKRUTAN PT ASURANSI JIWASRAYA DAN PT PRUDENTIAL LIFE INSURANCE : APLIKASI METODE ALTMAN Z-SCORE." Jurnal Riset Akuntansi Politala 3, no. 1 (2020): 17. http://dx.doi.org/10.34128/jra.v3i1.42.

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Insurance companies are non-bank financial institutions engaged in services to overcome the risks that will occur in the future so that it is expected not to go bankrupt. The purpose of this study was to compare the potential bankruptcy of PT Asuransi Jiwasraya and PT Prudential Life Insurance for the period 2010 to 2017 using the Altman Z-Score method. Bankruptcy itself is a condition in which a company does not have sufficient funds to run its business again. The initial symptoms of bankruptcy are financial distress, which is characterized by uncertainty about the company's profitability in

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Sartika, Umi. "ANALISIS PREDIKSI KEBANGKRUTAN DENGAN MENGGUNAKAN MODEL ALTMAN Z SCORE PADA PERUSAHAAN BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA." BALANCE Jurnal Akuntansi dan Bisnis 2, no. 1 (2018): 117. http://dx.doi.org/10.32502/jab.v2i1.1165.

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ABSTRACTThe aim of this research is to test whether the altman model (z score) could be used to predict bankruptcy in the public companies in Indonesia Stock Exchange. Altman z score is one of the multivariate analysis-model which is useful to predict the company bankruptcy with the trusted accuracy level. This sample selection was done by purposive judgement sampling method. The sample used was 16 companies from all public company listed in the Indonesia Stock Exchange (IDX) periode 2012-2016. While the source of this research data was collected from the company financial reporting in Indones

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Mamusung, Louis Z., and Ariawan Gunadi. "Penerapan Keberlanjutan Operasional Perusahaan Pailit dalam Perspektif Hukum Kepailitan di Indonesia." Jurnal Magister Hukum Udayana (Udayana Master Law Journal) 13, no. 4 (2024): 804. https://doi.org/10.24843/jmhu.2024.v13.i04.p04.

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The research objective of this article is to evaluate whether bankruptcy law policies in Indonesia are adequate in supporting operational sustainability and recovery of bankrupt companies and to analyze the role of curators and commercial courts in the operational sustainability process of bankrupt companies. The research method used in this article is a normative legal research method with a statutory approach and a conceptual approach. The research results show that bankruptcy law policy in Indonesia is inadequate and still has many shortcomings in supporting the recovery and operational sus

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Sri Septi Rahayu, Seflidiana Roza, and Ida Nirwana. "Analisis Kebangkrutan Dengan Menggunakan Model Grover Pada Perusahaan Jasa Sub Sektor Perdagangan Eceran Periode 2015-2020 di Bursa Efek Indonesia." Journal of Creative Student Research 1, no. 1 (2023): 48–54. http://dx.doi.org/10.55606/jcsrpolitama.v1i1.1035.

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This study aims to determine the potential for bankruptcy using the grover method (G-Score) in Retail Trading Sub-Sector Service Companies listed on the Indonesia Stock Exchange in 2015-2020. The research method used is a quantitative method. The population and sample of this research are 27 Retail Trade Sub-Sector Service companies listed on the Indonesia Stock Exchange for the 2015-2020 period. This research sample selection method used purposive sampling method with a total of 16 companies that met the criteria. The analysis technique in this study uses the Microsoft Exel program in perform

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Idayanti, Soesi, and Mukhidin Mukhidin. "Responsibility Of The Board Of Directors In Bankruptcy Of Limited Liability Companies From The Perspective Of Law Number 40 Of 2007." Pena Justisia: Media Komunikasi dan Kajian Hukum 23, no. 3 (2024): 3122–30. https://doi.org/10.31941/pj.v23i3.5136.

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AbstracThis research was conducted with the aim to explain to the academic world and the wider community regarding the responsibilities of the board of directors on the bankruptcy of a limited company, either caused by the negligence of the directors themselves or due to external error factors of the limited company. This paper uses a normative legal research method by using a statutory regulatory approach. The results of this study show that if the company goes bankrupt caused by the negligence of the board of directors while the bankrupt's debt is not sufficient to pay in full the company's

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Aldy, Mirozul, Ismail Nurahsan Aprilian, and Setiadi Wicipto. "Judicial Review of Business Permit Revocation for Bankrupt Mining Companies in Indonesia." International Journal of Social Science and Human Research 07, no. 05 (2024): 2909–14. https://doi.org/10.5281/zenodo.11201745.

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The Revocation of Mining Business License is an administrative measure ensuring compliance in the mining sector. Government Regulation 96 of 2021 allows direct imposition of this sanction, especially for companies declared bankrupt. However, complexities arise during asset settlement overseen by the curator, where a judge may order continued mining to increase bankrupt assets. To tackle these issues, a researcher conducted normative legal research, focusing on legislative aspects. This falls under normative juridical research, analyzing regulations regarding revoking licenses for bankrupt mini

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Andani, Devi. "Perlindungan Hukum Kepailitan Perusahaan Solvable di Indonesia." Kajian Hukum 7, no. 1 (2022): 76–91. http://dx.doi.org/10.37159/kh.v7i1.2.

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Abstract This study aims to determine the legal protection for bankruptcy of solvable companies in Indonesia. The method used is qualitative by following the typology of normative legal research, data is collected by means of literature studies and documents written descriptively and analyzed qualitatively. The results of this study indicate that bankruptcy decisions can occur in solvable companies, if the party applying for a bankruptcy statement has fulfilled the requirements, namely, there are debtors, there are two or more creditors, there is debt, and at least one debt has fallen due and

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Yulinartati, Yulinartati. "ANALISIS KINERJA KEUANGAN SEBAGAI ALAT PREDIKSI KEBANGKRUTAN DENGAN MODEL DISKRIMINAN." JURNAL AKUNTANSI UNIVERSITAS JEMBER 10, no. 2 (2015): 97. http://dx.doi.org/10.19184/jauj.v10i2.1253.

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The purpose of this study was to determine whether the Current Ratio (CR), Debt Equity Ratio (DER), Total Assets Over Turen (TATO), net profit margin (NPM), Debt to Assets Ratio (DAR), Return on Assets (ROA) , Return on Equity (ROE), Gross Profit Margin (GPM), Operating Profit Margin (OPM) influential in distinguishing healthy firms and perusahaa bankruptcy discriminant model. Based on discriminant analysis of known groups of healthy companies and a group of companies that went bankrupt differ significantly, from 9 (nine) variables are in use only 4 (four) variable Current Ratio, Debt Equity R

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Fedorova, E. A., L. E. Khrustova, and D. V. Chekrizov. "Industry characteristic of bankruptcy prediction models appliance." Strategic decisions and risk management, no. 1 (May 25, 2018): 64–71. http://dx.doi.org/10.17747/2078-8886-2018-1-64-71.

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The aim of the research is to develop the methodology of bankruptcy prediction applying the specified statutory values of the existing models with a glance to company’s industry and developing the author’s prediction model. Initially authors estimated the forecast accuracy of the existing models for the enterprises of 8 industries. Using CART (Classification And Regression Tree) methodology the original statutory values of the models were specified for every industry under research. The calculated statutory values demonstrated the high level of prediction accuracy and balanced the indicators o

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Nasmi, Widia, and Mayar Afriyenti. "Analisis Prediksi Kebangkrutan pada Perusahaan Manufaktur Sub Sektor Food & Beverages Yang Terdaftar di Bursa Efek Indonesia: Menggunakan Model Altman, Springate, dan Grover." JURNAL EKSPLORASI AKUNTANSI 3, no. 4 (2021): 749–63. http://dx.doi.org/10.24036/jea.v3i4.421.

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The objective of this research is to determine (1) the prediction of bankruptcy of manufacturing companies in the food and beverages sub-sector listed on the Indonesia Stock Exchange by using the Altman, Springate and Grover models in the 2016 to 2019 period, and (2) to find out the differences in the results of bankruptcy predictions, and also to determine the level of accuracy of the five models in predicting bankruptcy. Sampling method used Purposive Sampling with some criterias which produce 14 samples of food and beverages firms for 5 years of data observation. The results indicate that,

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Silfia, Dela Rezki, Kitfiyatun Nisah, Salsabila Dito Putri, Harmono Harmono, and Raden Handiriono. "Analysis Of The Responsibility Of Insurance Companies Declared Bankrupt For Customer Claims In The Perspective Of Indonesian Positive Law." Journal of Social Science (JoSS) 3, no. 7 (2024): 1547–54. http://dx.doi.org/10.57185/joss.v3i7.336.

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Insurance for human life is very important, by requiring a sense of comfort and safety. So that many companies have established their business in the field of insurance, behind insurance companies that provide security protection. Not all companies run smoothly in other words the company is inseparable from the threat of bankruptcy. This research focuses on legal certainty for customers when an insurance company with claim obligations is declared bankrupt. The research problem addresses the challenges faced by customers in such situations and the legal protection available to them. The purpose

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Dharmika Yogiswari, Ni Made, and I. Wayan Novy Purwanto. "RESPONSIBILITY OF INSURANCE COMPANIES DECLARED BANKRUPT FOR THE REPAYMENT OF POLICYHOLDERS' RECEIVABLES." POLICY LAW NOTARY AND REGULATORY ISSUES (POLRI) 2, no. 3 (2023): 265–70. http://dx.doi.org/10.55047/polri.v2i3.637.

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Insurance companies, as legal entities engaging in business activities, may not always maintain good financial standing. A bankrupt company is typically in a state of insolvency where its assets fall short of its outstanding obligations. The insolvency of an Insurance Company leads to setbacks and limitations in its operations, with the Policyholder being the most affected party. This study aims to explore how dividends from bankrupt insurance companies are distributed and how such companies are accountable for settling Policyholders' receivables. The research employs a normative research meth

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Surono, Yunan, and Sindy Dwiroro Pangestu. "Analisis Kinerja Keuangan Sektor Manufacture dengan Multiple Discriminant Analysis Bankcruptcy Model di Bursa Efek Indonesia Periode 2014 – 2017." J-MAS (Jurnal Manajemen dan Sains) 4, no. 2 (2019): 298. http://dx.doi.org/10.33087/jmas.v4i2.111.

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This research aims to prove the financial performance of Manufacture sector with Multiple Discriminant Analysis Bankruptcy Model when measured using the Altman's Z-score first model, Altman's Z-score revision and Altman's Z-score modifications, Springate model and Zmiejewski model as well as to get the stocks that have the best performance based on the model. In this research the population used is the stock sector manufacturing group on the Indonesia Stock Exchange in the year 2014 – 2017 as many as 166 issuers manufacture. This research sample is the manufacture sector company, which provide

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Irawan, Agus, Adi Prasetyo, and Dwi Irawan. "ANALYSIS OF FINANCIAL DISTRESS IN TRANSPORTATION COMPANIES WITH THE ALTMAN Z-SCORE APPROACH." Review of Applied Accounting Research (RAAR) 1, no. 2 (2021): 1. http://dx.doi.org/10.30595/raar.v1i2.11861.

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This study aims to analyze the potential for bankruptcy of companies in the public transportation sub-sector listed on the Indonesia Stock Exchange using the Altman Z-score model approach. The population of this study are transportation companies listed on the Indonesia Stock Exchange for the 2017-2019 period, the sample is only taken from the 3 largest transportation companies operating on land, sea and air. The results of calculations using the Altman Zscore method show that there is one company that is prone to bankruptcy. A business that is expected to go bankrupt in the year under review

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Geiger, Marshall A., and K. Raghunandan. "Bankruptcies, Audit Reports, and the Reform Act." AUDITING: A Journal of Practice & Theory 20, no. 1 (2001): 187–95. http://dx.doi.org/10.2308/aud.2001.20.1.187.

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The Private Securities Litigation Reform Act (Reform Act) was enacted as law in 1995 and represents a major victory for the public accounting profession. Since audit reporting for publicly traded companies that enter bankruptcy continues to be of interest to legislators and the public, the Reform Act also includes audit reporting requirements regarding the auditor's assessments of a company's ability to continue as a going concern. This study examines the potential impact of the Reform Act on auditor reporting by examining audit reports for 383 bankrupt companies during the 1991–1998 period. T

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Thiara Octaviani Putri and Muhamad Farudin. "Pelindungan Data Pribadi Konsumen pada Perusahaan E-commerce yang Mengalami Kepailitan di Indonesia Ditinjau Berdasarkan Hukum Positif Indonesia." Politika Progresif : Jurnal Hukum, Politik dan Humaniora 2, no. 1 (2025): 260–79. https://doi.org/10.62383/progres.v2i1.1355.

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The rapid growth of e-commerce has increased the urgency of personal data protection, especially in cases of corporate bankruptcy. Legal uncertainty regarding the status of personal data in bankruptcy assets poses privacy risks. This study examines regulatory gaps in the Bankruptcy and PKPU Law (UU KPKPU) and the Personal Data Protection Law (UU PDP) concerning consumer personal data protection in bankrupt e-commerce companies. This research employs a normative juridical method by analyzing applicable legal norms. This approach reviews legislation, jurisprudence, and other legal documents to u

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Yang, Fang, Burak Dolar, and Lun Mo. "Textual Analysis of Corporate Annual Disclosures: A Comparison between Bankrupt and Non-Bankrupt Companies." Journal of Emerging Technologies in Accounting 15, no. 1 (2018): 45–55. http://dx.doi.org/10.2308/jeta-52085.

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ABSTRACT In this study we focus on extracting qualitative information from the management discussion and analysis (MD&A) section of an annual report and compare whether there are textually evident differences in textual expressions used between bankrupt and non-bankrupt companies. We extract high-frequency words, related concept links, and topics from MD&As and find that some high-frequency words appear to suggest differences between bankrupt and non-bankrupt companies regarding their financial position and ongoing status. However, the usefulness of concept links is mixed. Some concept

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Obradović, Ana, Vule Mizdraković, and Maja Obradović. "Liquidity and solvency of healthy and bankrupt entities: Do financial statements show any differences?" International Review, no. 3-4 (2020): 123–29. http://dx.doi.org/10.5937/intrev2003123o.

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The aim of this paper is reflected in the analysis of the connection between the financial operations presented in companies' financial statements and the fact whether bankruptcy proceedings have been initiated against the observed companies. Namely, the fundamental indicators of a company's business success, including liquidity and solvency, are of immense significance for all stakeholders, and can also be used to predict the probability whether bankruptcy proceedings will be opened. Bankruptcy authorities make the decision to initiate bankruptcy proceedings, not solely on the basis of the re

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Simanjuntak, Juhli Edi Suranta, Meri Aziana, and Tommy Munaf. "Analisis Tingkat Kebangkrutan Dengan Menggunakan Metode Altman Z-Score, Springate Dan Internal Growth Rate Pada Pt Bentoel Internasional Investama Tbk." Aksara: Jurnal Ilmu Pendidikan Nonformal 8, no. 3 (2022): 2245. http://dx.doi.org/10.37905/aksara.8.3.2245-2254.2022.

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This study aims to determine how the level of bankruptcy at PT Bentoel Internasional Investama Tbk from 2016 to 2020 using the Altmatn Z-Score, Springate, and Internal Growth Rate methods. Companies, investors and creditors are expected to consider the results of this analysis. The type of research used in this research is descriptive research, in predicting bankruptcy the researcher uses multivariate analysis. This study uses secondary data from the company's financial statements listed on the Indonesia Stock Exchange. To measure financial performance, researchers analyzed the ratios containe

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