Analisis Kebangkrutan Dengan Menggunakan Metode Altman Z-score, Springate,dan Zmijewski Pada Perusahaan Minyak Dan Gas Bumi Yang Terdaftar Di Bursa Efek Indonesia Periode 2012-2017

Abstract

Abstrak Penelitian ini bertujuan untuk mengetahui perbedaan hasil analisis kebangkrutan dengan menggunakan metode Altman Z-Score,Springate, dan Zmijewski pada perusahaan subsektor minyak dan gas bumi yang terdaftar di Bursa Efek Indonesia (BEI) periode 2012-2017 dan untuk mengetahui metode yang paling akurat. Jenis metode yang digunakan pada penelitian ini menggunakan metode deskriptif dengan pendekatan kuantitatif. Teknik pengambilan sampel yang dilakukan menggunakan non-probability sampling dengan teknik purposive sampling dan di dapat sebanyak delapan perusahaan subsektor minyak dan gas bumi yang terdaftar di Bursa Efek Indonesia. Variabel yang digunakan dalam penelitian ini merupakan rasio-rasio dari metode Altman ZScore, Springate dan Zmijewski, yaitu Working Capital to Total Assets, Retained Earning to Total Asset, Earning Before Interested and Taxes to Total Assets, Market Value of Equity to Book Value of Total Liabilities, Sales to total Asset, Earning Before Taxes to Total Assets, Net Income to Total Assets, Total Liabilities to Total Assets, Current Assets to Current Liabilities. Hasil penelitian ini adalah adanya perbedaan hasil analisis kebangkrutan antara metode Altman Z-Score, Springate, dan Zmijewski pada delapan perusahaan subsektor minyak dan gas bumi periode 2012-2017. Dan diantara ketiga metode yang digunakan, metode Zmijewski merupakan metode yang paling akurat dengan tingkat akurasi sebesar 83.33% dan Type Error sebesar 16,67%. Lalu, diikuti dengan metode Springate dengan tingkat akurasi sebesar 60,42% dan Type Error sebesar 39,58%. Sedangkan metode Altman Z-Score memiliki tingkat akurasi sebesar 35,42% dan Type Error sebesar 64,58% Kata kunci : Kebangkrutan, metode Altman Z-Score, metode Springate, dan metode Zmijewski. Abstract This study aims to know the differences in the results of bankruptcy analysis using the Altman Z-Score, Springate, and Zmijewski methods in the oil and gas subsector companies listed on the Indonesia Stock Exchange (IDX) for the period 2012-2017 and to know the most accurate method. This study used analyst descriptive quantitative method. This sample technique is non-probability sampling with purposive sampling technique and can be 8 oil and gas subsector companies listed on the Indonesia Stock Exchange (IDX). The variabels used in this study, are financial ratio that exist within methods Altman ZScore,Springate, and Zmijewski, their are Working Capital to Total Assets, Retained Earning to Total Asset, Earning Before Interested and Taxes to Total Assets, Market Value of Equity to Book Value of Total Liabilities, Sales to total Asset, Earning Before Taxes to Total Assets, Net Income to Total Assets, Total Liabilities to Total Assets, Current Assets to Current Liabilities. The results of this study are the differences in the result of bankruptcy analysis between the Altman ZScore, Springate and Zmijewski methods in eight oil and gas subsector companies in the period 2012-2017. And among the three methods used, the Zmijeski methods is the most accurate method with an accuracy rate of 83,33 and a Type Error 16,67%. Then, followed by the Springate method with an accuracy rate of 60,42% and a Type Error of 39,58%. While the Altman Z-Score method has an accuracy rate of 35,42% and a Type Error of 64,58%. Keyword : Bankruptcy, Altman Z-Score method, Springate method, and Zmijewski method