<![CDATA[This study tries to determine the best BPM (bankruptcy prediction model) method in predicting the bankruptcy (delisting) event amongst the delisted companies from the IDX for the period of 2011-2015. To verify the acuracy rate of those 4 BPMs, that is Altman, Springate, Zmijewski, and Grover, we apply these 4 BPM methods in predicting the non-bankruptcy (non-delisting) event of the paired companies used as the sample. This also mean that we need to measure the Error Type-II (ET-II). On average, the acuracy rate of 4 BPMs in predicting 7 companies NOT to be bankrupt (still-listed) was 82.14%, and coupled with the relevant ET-II at 17.86%. By restricting the prediction only on the bankruptcy (delisting) event, Altman is the best BPM method with an acuracy of 71.43%. Altman becomes the best BPM in predicting the bankruptcy (delisting) event as it has an error rate by 14.29%, lower than the Springate. Although Springate has an acuracy of 71.43%, it has an error rate higher than Altman, that is by 28.57%. Grover and Zmijewski took the third and fourth place respectively in the overall acuracy and in predicting the bankruptcy (delisting) event. By companies, the 4 BPM can predict the bankrupty (delisting) event of PWSI (Panca Wiratama Sakti), that is with ET-I = 0, but not with the delisting event of KARK (Dayaindo Resource International) whose acuracy rate was 0%.]]>
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