Analysis to Predict Bankruptcy on Coal Industry Companies from 2015-200 (Altman Z Score)
Abstract
Bankruptcy is a condition of very severe financial difficulties so that the company is unable to run the company's operations properly. Bankruptcy analysis that is often used is Altman's Z-Score analysis, a multiple discriminant model that combines the effects of several variables. Based on the Altman Z-Score to predict bankruptcy at Coal mining companies in Indonesia in 2015-2020 seen from the Altman Z-Score analysis to predict bankruptcy at Adaro Energy Tbk. with an average value of 1,994 is in a position of Prone to Bankruptcy or it can be said that the company has the potential to go bankrupt. This can be seen in the Zi value which is between 1.20%-2.90%. at Bumi Resources Tbk. with an average value of -1,416 is in a position of Bankrupt or it can be said that a company that has the potential to go bankrupt. This can be seen in the Zi value which is between 1.20%-2.90%. at Bayan Resources Tbk. with an average value of 5,455 is in a healthy position or it can be said that the company has no potential for bankruptcy. This can be seen in the Zi value which is between 1.20%-2.90%. at Dian Swastatika Sentosa Tbk. with an average value of 1,406 are in a position of Bankrupt or it can be said that companies that have the potential to go bankrupt. This can be seen in the Zi value which is less than 1.20%. at Golden Energy Mines Tbk. with an average value of 4,438 is in a healthy position or it can be said that the company has no potential for bankruptcy. This can be seen in the Zi value which is less than 1.20%. at Indika Energy Tbk. with an average value of 1,571 is in a position of Bankrupt or it can be said that a company that has the potential to go bankrupt. This can be seen in the Zi value which is less than 1.20%. at Indo Tambangraya Megah Tbk. with an average value of 5,030 is in a healthy position or it can be said that a company that has no potential for bankruptcy. This can be seen in the Zi value which is less than 1.20%. and it can be concluded that to predict the bankruptcy of Coal Mining Companies in Indonesia in 2015-2020 with an average value of 2,640, they are in a position of Prone to Bankruptcy or it can be said that companies with the potential for bankruptcy. This can be seen in the Zi value which is between 1.20%-2.90%. based on Altman Z-Score in Hanafi and Halim, 2005:274.
Keywords: coal mining company, bankruptcy, altman Z-Score
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