Pemilihan Prediktor Delisting Terbaik
(Perbandingan Antara The Zmijewski Model, The Altman Model, Dan The Springate Model)
This research objective is to know the best delisting predictor in IDX. There are three famous bankruptcy predictors The Zmijewski Model, The Altman Model, and The Springate Model. This research uses these three models to predict delisting. This research took IDX delisting data for 2003 – 2007 except banks. To have a good comparison, this research took randomly same number of non delisting companies which are in the same category. This research use logistic regression of Microsoft Excel. This research found that The Zmijewski Model could not predict delisting. Both of The Altman Model and The Springate Model could predict delisting moderately. The Altman Model is the best delisting predictor.
Keyword: Delisting, The Zmijewski Model, The Altman Model, The Springate Model.
LATAR BELAKANG PENELITIAN
Going concern assumption used in a business entity in business. With a going concern, an entity is considered able to maintain its business in the long run and not be liquidated in the short term.
Going concern assumption used in financial reporting as long as not proven the existence of information that shows the opposite case (contrary information). Usually the information that significantly considered contrary to the assumption of the survival of the business unit is related to the inability of the business unit in meeting the obligations on the due date without making a sale of most assets to outside parties through regular business, restructuring debt, improving operations and activities imposed from outside Another similar (PSA No. 30).
In general, companies that go public exploit the existence of capital markets as a means to obtain alternative sources of funding or financing. The existence of capital markets can be used as a tool to reflect the company’s performance and financial condition. The market will respond positively by increasing the company’s stock price if the financial condition and performance of good company. Investors and creditors prior to invest their funds in a company will always see in advance the company’s financial condition. Therefore, analysis and predictions on a company’s financial condition is very important (Atmini, 2005).
Jurnal Simposium Nasional Akuntasi XI (SNA 11)