Research Paper
Year: 2022 | Month: March | Volume: 9 | Issue: 3 | Pages: 424-433
DOI: https://doi.org/10.52403/ijrr.20220347
Analysis of Potential Bankrupting in Leasing Companies in Indonesia Stock Exchange Period 2015-2019 by Using Altman Z-Score Method
Kaisar Hasudungan Pangaribuan1, Isfenti Sadalia2, Rulianda Purnomo Wibowo2
1,2Master of Management Study Program on Postgraduate School of University of Sumatera Utara
Corresponding Author: Kaisar Hasudungan Pangaribuan
ABSTRACT
This research aims to identify the potential bankruptcy of leasing companies listed on the Indonesia Stock Exchange (BEI). In addition, this study also aims to determine whether the analysis of financial ratios as measured by liquidity ratios, solvency, and profitability affects bankruptcy. This research uses a descriptive analysis method using secondary data as research material. Collecting data in the form of financial reports and other supporting data using documentation and literature study techniques. The sample in this study was leasing companies listed on the Indonesia Stock Exchange (IDX) during the 2015 - 2019 period. Meanwhile, the data analysis methods used in this study were the Altman Z-Score method and Fixed Effect Model Analysis. The results in this study found that the bankruptcy analysis from 2015 to 2019 shows that there are 2 leasing companies (15.38%) predicted to go bankrupt, 4 leasing companies (30.77%) predicted to enter the grey area, and 7 leasing companies. others (53.85%) predicted to be healthy. In addition, it can also be seen that the liquidity ratio has a positive and significant effect on potential bankruptcy, solvency has a negative and significant effect on potential bankruptcy, and profitability does not have a significant effect on a potential bankruptcy.
Keywords: bankruptcy analysis, financial ratio analysis, liquidity, solvency, profitability.
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