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Paper Id: IJCIRAS1792
Title: VERIFICATION OF FINANCIAL DISTRESS MODEL: A CASE STUDY ON CPO INDUSTRY COMPANY IN INDONESIA STOCK EXCHANGE
Published in: International Journal Of Creative and Innovative Research In All Studies
Publisher: IJCIRAS
ISSN: 2581-5334
Volume / Issue: Volume 4 Issue 7
Pages: 12
Published On: 12/29/2021 8:36:27 PM      (MM/dd/yyyy)
Main Author Details
Name: Kevin Genjar Sandy Nugraha
Institute: Universitas Jember
Co - Author Details
Author Name Author Institute
Hadi Paramu Universitas Jember
Hari Sukarno Universitas Jember
Abstract
Research Area: Financial Development and management
KeyWord: Financial Distress, Palm Oil Sub-Industry, Altman Model, Springate Model, dan Grover Model.
Abstract: This study aims to verify the accuracy of the three previous research models, namely the Altman, Springate, and Grover models, as well as the proposed financial distress model for the palm oil sub-industrial manufacturing companies listed on the IDX. This study uses data from all manufacturing companies of the palm oil sub-industry listed on the BEI that have issued financial reports for at least four years before 2019. The analytical method used is to test the level of accuracy using the Bemman Contingency table. The results showed that the Altman, Springate, and Grover models were able to predict financial distress in CPO companies by 86.67%, 90%, and 90%, respectively, while the proposed model that consist of selection from some of the most popular financial ratios was less worthy to predict financial distress on CPO companies because it can only predict 6.67%. The most accurate models are the Springate and Grover models. The high prediction results can be used as a guidance for financial managers to predict financial distress in their companies, especially palm oil sub-industry manufacturing companies.
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IEEE
Kevin Genjar Sandy Nugraha, Hadi Paramu, Hari Sukarno, "VERIFICATION OF FINANCIAL DISTRESS MODEL: A CASE STUDY ON CPO INDUSTRY COMPANY IN INDONESIA STOCK EXCHANGE", International Journal Of Creative and Innovative Research In All Studies, vol. 4, no. 7, pp. 36-47, 2021.
MLA Kevin Genjar Sandy Nugraha, Hadi Paramu, Hari Sukarno "VERIFICATION OF FINANCIAL DISTRESS MODEL: A CASE STUDY ON CPO INDUSTRY COMPANY IN INDONESIA STOCK EXCHANGE." International Journal Of Creative and Innovative Research In All Studies, vol 4, no. 7, 2021, pp. 36-47.
APA Kevin Genjar Sandy Nugraha, Hadi Paramu, Hari Sukarno (2021). VERIFICATION OF FINANCIAL DISTRESS MODEL: A CASE STUDY ON CPO INDUSTRY COMPANY IN INDONESIA STOCK EXCHANGE. International Journal Of Creative and Innovative Research In All Studies, 4(7), 36-47.
VERIFICATION OF FINANCIAL DISTRESS MODEL: A CASE STUDY ON CPO INDUSTRY COMPANY IN INDONESIA STOCK EXCHANGE
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