ANALISIS FINANCIAL DISTRESS DENGAN PENDEKATAN ALTMAN Z-SCORE, ZMIJEWSKI DAN GROVER PADA PERUSAHAAN BAKRIE GROUP YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2011-2014

Abstract

Tujuan penelitian ini adalah untuk mengetahui dan menganalisis kondisi keuangan pada Perusahaan Bakrie Group yang terdaftar di Bursa Efek Indonesia Periode 2011-2014 dengan menggunakan metode Altman Z-score, Zmijewski, dan Grover. Penelitian ini menggunakan data sekunder yaitu laporan keuangan tahunan Perusahaan Bakrie Group periode 2011-2014. Metode pengumpulan data dengan menggunakan teknik pecatatan dokumen, dan dianalisis dengan metode Altman Z-score, Zmijewski, dan Grover. Hasil prediksi financial distress menggunakan metode Altman Z-Score terdapat delapan perusahaan yang mengalami financial distress selama empat tahun periode 2011-2014 yaitu PT Bakrie & Brothers Tbk, PT Berau Coal Energy Tbk, PT Bakrie Telecom Tbk, PT Bumi Resources Tbk, PT Darma Henwa Tbk, PT Bakrieland Development Tbk, PT Energi Mega Persada Tbk, dan PT Bakrie Sumatera Plantation Tbk. Hasil prediksi financial distress menggunakan metode Zmijewski terdapat empat perusahaan yang mengalami financial distress yaitu PT Bakrie & Brohers Tbk, PT Berau Coal Energy Tbk, PT Bakrie Telecom, Tbk dan PT Bumi Resources Tbk pada tahun 2011-2014. Hasil prediksi financial distress menggunakan metode Grover terdapat enam perusahaan yang mengalami financial distress yaitu PT Bakrie & Brohers Tbk, PT Berau Coal Energy Tbk, PT Bakrie Telecom Tbk, PT Bumi Resources Tbk PT Energi Mega Persada Tbk, dan PT Bakrie Sumatera Plantation Tbk.
Kata Kunci : financial distress, rasio Altman Z-score, rasio Zmijewski, rasio Grover

The purpose of this research was to determine and analyze the Company's financial condition in the Bakrie Group is listed on the Indonesia Stock Exchange Period 2011-2014 using the Altman Z-score, Zmijewski, and Grover. This research uses secondary data, that the Company's annual financial statements Bakrie Group 2011-2014. Data were collected by using a entry technique document, and analyzed by the method of Altman Z-score, Zmijewski, and Grover. The result of financial distress prediction using the Altman Z-Score method there are eight companies experiencing financial distress during the four-year period 2011-2014, namely PT Bakrie & Brothers Tbk, PT Berau Coal Energy Tbk, PT Bakrie Telecom Tbk, PT Bumi Resources Tbk, PT Darma Henwa Tbk, PT Bakrieland Development Tbk, PT Energi Mega Persada Tbk, and PT Bakrie Sumatra Plantation Tbk. The result of financial distress prediction using methods Zmijewski there are four companies experiencing financial distress, PT Bakrie & Brohers Tbk, PT Berau Coal Energy Tbk, PT Bakrie Telecom, Tbk and PT Bumi Resources Tbk in 2011-2014. The result of financial distress prediction using methods Grover there are six companies experiencing financial distress, PT Bakrie & Brohers Tbk, PT Berau Coal Energy Tbk, PT Bakrie Telecom Tbk, PT Bumi Resources Tbk PT Energi Mega Persada Tbk, and PT Bakrie Sumatra Plantation Tbk.
keyword : financial distress , ratio of Altman Z -score , ratio of Zmijewski , ratio of Grover