The Degree Of Company Vulnerability Using Altman Model: A Survey Of Publication Listed Companies In Indonesia  

Oleh:

Hermawan, Marko S. ; Tirok, Junius ; Dawis, Dharma S.

Jenis: Article from Journal - ilmiah nasional - tidak terakreditasi DIKTI - non-atma jaya
Dalam koleksi: Journal of Applied Finance and Accounting vol. 2 no. 2 (Jun. 2010), page 88-99.
Topik: Altman; Z-score Test; Coefficient Of Variation; Financial Distress

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: AA76.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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This research is purposed to analyze the degree of vulnerability of a company’s performance. From the financial report produced, investor will analyze the level of its performance. There are several variable sof defining the performances, in which they are used to distinguish the degree of vulnerability. This level of degree affects investor’s decision on company’s performance. The object of this research, after taking relevant data from years 2006-2008 published annual financial reports, thre are 184 public companies listed in Indonesia Stock Exchange that are qualified in the analysis procedure. The Altman (1993) model of Z-score formula is used to define variables feflecting in a company performance, in which is classified into three-zone index (safe zone, grey zone and distress zone). This research has found that more companies lie in the grey and distress zone. Amongst the safe zone companies are Mining Industrry and the lowest degree is the Infrastructure Industry. Also, a trend of decreasing performance occurred during 2008. There are possible reason that that might result in the performance of the industries. This result of research will benefit for investors in considering investing in Indonesian companies.

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