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All Journal Accounting and Management Journal Community Development Journal Journal of Economics and Business Aseanomics
Niken Savitri Primasari
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ANALISIS ALTMAN Z-SCORE, GROVER SCORE, SPRINGATE, DAN ZMIJEWSKI SEBAGAI SIGNALING FINANCIAL DISTRESS (Studi Empiris Industri Barang-Barang Konsumsi di Indonesia) Niken Savitri Primasari
JURNAL AKUNTANSI DAN MANAJEMEN Vol 1 No 1 (2017): Accounting and Management Journal
Publisher : UNUSA Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33086/amj.v1i1.70

Abstract

This study purpose to determine whether there are differences among Altman model, Springate model and Zmijewski model to predict financial distress, and to find out which the Financial Distress prediction model has the most excellent implementation in Indonesia manufacture industry. Comparison of those six models were made by analyzing the accuracy of each model, by using the real condition of a company’s net income. The data used in the form of annual financial statements published by the company on the Indonesia Stock Exchange website. The sample in this study consisted of 116 financial data from 29 companies in Consumer Goods Industry. All companies are listed in Indonesia Stock Exchange Market at period 2012 - 2015. The company does not conclude yet, whether there is a prediction model that best suit the measurement. This cause by: (1) every model have its own superiority and weakness, (2) the company sample characteristic differences (company sector, company size) also influence the choice of prediction model being used, (3) the company financial ratio as independent variable used in bankruptcy prediction. Since the financial statements are reflecting the company’s financial ability of the signaling, the researchers limited the industry with the highest value of EPS and PER. This is done to avoid confounders in the proof of the accuracy of the model, Springate model, Ohlson model and Zmijewski model to predict financial distress. The data obtained from the Annual Financial Statements, IDX Fact Book and the Indonesian Capital Market Directory. In this study will be used t test, additional testing is done to see the feasibility of the model by observing the F test results and test the coefficient of determination (R2), R2 value used to examine differences among Altman, Grover, Springate and Zmijewski models in predicting financial distress. The analytical tool used is the One Way ANOVA with level of significance 5 %. The results from this research showed that any prediction model used in this study can be used to predict Financial Distress, particularly the Altman Z-Scores, which have the greater R2 analysis. Only Grover G-Score models have insignificant value t test and F-test is greater than the probability cannot be used to predict corporate Financial Distress. The results also showed that the most accurate model is the model Altman Z-Score. At the end of the study was to try predict 29 firms sample used listed on the Stock Exchange with Altman model. Predicted results showed that five companies are expected to experience Financial Distress in the future.
START UP SCORE CARD BAGI PARA PEMULA USAHA MUDA MANDIRI (Audience: mahasiswa dan siswa PesantrenAl-Jihad-Surabaya) Niken Savitri Primasari; Puspandam Katias
Community Development Journal Vol 2 No 1 (2018): Community Development Journal
Publisher : UNUSA Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (555.777 KB) | DOI: 10.33086/cdj.v2i1.364

Abstract

Tujuan pengabdian masyarakat ini adalah memberikan informasi dan pendidikan awal mengenai cara melakukantahapan penilaian bisnis pemula (start up entrepreneur) untuk para mahasiswa dan siswa pesantren Al-Jihad Surabayayang telah tertarik dan telah masuk menjadi pemula bisnis baik secara online maupun offline. Memudahkan pemulausaha untuk melakukan tracking error yang terjadi dari kegiatan usaha mereka,sehingga secara tidak langsung pemulabisnis akan segera dapat memperbaharui strategi bisnis mereka, baik itu strategi pemasaran, strategi inventory andsupply, strategi sumber daya manusia maupun strategi keuangan mereka. Semua rangkaian kegiatan ini akan mencapaipuncaknya dalam kegiatan yang diadakan diarea Fakultas Ekonomi Kampus B Universitas Nadhatul Ulama di Jemursari pada tangga l7 Juni 2018 tema besar dari pengmas ini adalah “Start Up Scorecard bagi Para Pemula Usaha Muda Mandiri, khususnya para mahasiswa dan siswa pesantren Al-Jihad Surabaya”.
Indonesia Stock Price Index, Inflation, Interest Rate and Exchange Rate against ISSI Khoirun Nisa’atus Sholihah; Niken Savitri Primasari
Journal of Economics and Business Aseanomics (JEBA) Vol 6, No 1 (2021): JANUARI - JUNI 2021
Publisher : Universitas YARSI

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (499.433 KB) | DOI: 10.33476/j.e.b.a.v6i1.1929

Abstract

The purpose of this study is to examine the effect of Indonesia regional stock price index, inflation, interest rate, and exchange rate on ISSI, for Singapore, Malaysian and Philippine. The dependent variable in this study is ISSI. The independent variables in this study are Straits Times Index (STI), Kuala Lumpur Stock Exchange Index (KLSE), Philippine Stock Exchange Index (PSEI), Singapore inflation (INFSG), Malaysian inflation (INFMY), Philippine inflation (INFPH), Singapore interest rate (SBSG), Malaysia interest rate (SBMY), Philippine interest rate (SBPH), Singapore exchange rate (SGD), Malaysian exchange rate (MYR), and Philippine exchange rate (PHP). The sample of this study are all variables starting in 2014-2019. Analysis tools to test hypotheses using the VECM method. The analysis shows that the variables that have positive and significant effect on ISSI are KLSE, INFSG, SBSG, SGD, MYR, and PHP. SBMY has a positive but not significant effect on ISSI. While the variables that have negative and significant influence are PSEI, INFPH, and SBPH.
Co-Authors Khoirun Nisa’atus Sholihah Puspandam Katias