Ketepatan Model Altman, Springate, Zmijewski, dan Grover dalam Memprediksi Financial Distress pada Perusahaan Food and Beverage yang Terdaftar di Bursa Efek Indonesia Periode 2020 - 2023

Abstract

This study aims to determine the accuracy of the Altman, Springate, Zmijewski and Grover models in predicting financial distress in food and beverage companies listed on the Indonesia Stock Exchange for the 2020-2023 period. The type of research used is quantitative research. The population used was 24 food and beverage companies listed on the Indonesia Stock Exchange for the 2020-2023 period. The sample in this study was 16 companies using purposive sampling so that 64 observation data were obtained. The data analysis techniques used were descriptive statistical analysis, Kruskall Wallis test and prediction model accuracy test. The results of the study showed that 1) There was a significant difference in prediction results between the Altman Z-Score, Springate, Zmijewski and Grover models with a probability value below 0.05 (0.00 <0.05) which indicates that there is a significant difference in the results of the financial distress prediction calculation score using the prediction model used. 2) The Grover model is a prediction model that has the highest level of accuracy compared to other prediction models. The Grover model was able to correctly predict 16 research samples, followed by the Zmijewski model which had an accuracy rate of 94% with 15 correctly predicted samples and the Springate model which had an accuracy rate of 75% with 12 correctly predicted samples. Then the next method was the Altman Z-Score with an accuracy rate of 63% with 10 correctly predicted samples. Keywords : Financial Distress, Altman Z-Score, Springate, Zmijewski and Grover