Proceedings of the 8th Global Conference on Business, Management, and Entrepreneurship (GCBME 2023)

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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)

Authors
Gusganda Suria Manda1, *, Rabhi Fathan Muhammad1, Angga Sanita Putra1, Liya Megawati1, Gabriela Prisy Anggraeni1
1Universitas Singaperbangsa Karawang, Karawang, Indonesia
*Corresponding author.
Corresponding Author
Gusganda Suria Manda
Available Online 26 June 2024.
DOI
10.2991/978-94-6463-443-3_28How to use a DOI?
Keywords
Bankruptcy Prediction Model; Comparative; Financial Distress; Tourism
Abstract

This study aims to determine, describe, and analyze whether the Modified Alt- man Z-Score Model, Grover G-Score Model, Springate S-Score Model, and Zmijewski X-Score Model have a high level of accuracy in predicting financial distress in companies or not. The tourism sub-sector is listed on the Indonesia Stock Exchange for the 2017–2019 period. This study used secondary data in the form of the company’s annual financial reports. The population of this study consisted of 24 companies and 10 companies as samples using a purposive sampling technique. The research method used was 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 give a signal or sign that the company is in financial distress and must immediately implement the right strategy to solve this problem.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 8th Global Conference on Business, Management, and Entrepreneurship (GCBME 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
26 June 2024
ISBN
10.2991/978-94-6463-443-3_28
ISSN
2352-5428
DOI
10.2991/978-94-6463-443-3_28How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Gusganda Suria Manda
AU  - Rabhi Fathan Muhammad
AU  - Angga Sanita Putra
AU  - Liya Megawati
AU  - Gabriela Prisy Anggraeni
PY  - 2024
DA  - 2024/06/26
TI  - Comparative Analysis of Financial Distress by Using the Bankruptcy Prediction Model
BT  - Proceedings of the 8th Global Conference on Business, Management, and Entrepreneurship (GCBME 2023)
PB  - Atlantis Press
SP  - 193
EP  - 199
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-443-3_28
DO  - 10.2991/978-94-6463-443-3_28
ID  - Manda2024
ER  -