Analisis Rasio-Rasio Dan Ukuran Keuangan, Prediksi Financial Distress, Dan Reaksi Investor
DOI:
https://doi.org/10.26740/jaj.v5n1.p26-44Keywords:
financial ratios, financial measurements, financial distress, investor reactionAbstract
Abstract
The purpose of this paper is to investigate financial ratios and financial measurements that can predict financial distress. This study also examined investor reaction. To proved the effect for the long period this study not only examined the effect of independent variables per year to the prediction of financial distress, but also examined the average for five years.
Using logistic regression the results showed that there are four financial ratios that can predict financial distress. Business risk and firm size is not proven to predict financial distress. Using Kruskall-Wallis test this study also proved that investors can predict financial distress.
References
Altman, E. 1968. Financial Ratios, Discriminant Analysis, and the Prediction of Corporate Bankruptcy. The Journal of Finance. Vol. XXIII, No. 4, p. 589 609. https://doi.org/10.2307/2978933
Almilia, LS dan Kristijadi. 2003. Analisis Rasio Keuangan untuk Memprediksi Kondisi Financial Distress Perusahaan Manufaktur yang Terdaftar di Bursa Efek Jakarta. JAAI. Vol. 7, No. 2, h. 183 208.
Almilia, LS. 2006. Prediksi Kondisi Financial Distress Perusahaan Go Public dengan Menggunakan Analisis Multinomial Logit. Jurnal Ekonomi dan Bisnis. Vo. XII, No. 1, h. 1 26.
Brahmana, RK. 2003. Identifying Financial Distress Condition in Indonesia Manufacture Industry. Birmingham Business School, University of Birmingham. United Kingdom.
Brigham dan Houston. 2006. Dasar-dasar Manajemen Keuangan (Fundamentals of Financial Management). Buku 1. Edisi 10. Salemba Empat. Jakarta.
Ghozali, I. 2007. Aplikasi Analisis Multivariate dengan Program SPSS. Badan Penerbit Universitas Diponegoro. Semarang.
Hanafi, MM dan A. Halim. 2007. Analisis Laporan Keuangan. Edisi 3. UPP STIM YKPN. Yogyakarta.
Hardianti, S dan Barbara Gunawan. 2010. Pengaruh Size, Likuiditas, Profitabilitas, Risiko, dan Pertumbuhan terhadap Struktur Modal pada Perusahaan Manufaktur di Bursa Efek Indonesia. Jurnal Akuntansi dan Investasi. Vol. 11, No. 2.
Kamaludin dan KA Pribadi,. 2011. Prediksi Financial Distress Kasus Industri Manufaktur Pendekatan Model Regresi Logistik. Forum Bisnis dan Kewirausahaan Jurnal Ilmiah STIE MDP. Vol. 1, No. 1, h. 11 23.
Parwati, LA dan Y. Suhardjo. 2009. Faktor-faktor yang Mempengaruhi Audit Delay. Solusi. Vol. 8, No. 3, h. 29 42.
Ramadhani, AS dan N. Lukviarman. 2009. Perbandingan Analisis Prediksi Kebangkrutan Menggunakan Model Altman Pertama, Altman Revisi, dan Altman Modifikasi dengan Ukuran dan Umur Perusahaan Sebagai Variabel Penjelas (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. Jurnal Siasat Bisnis. Vol. 13, No. 1, h. 15 28. https://doi.org/10.20885/jsb.vol13.iss1.art2
Terzi, et. al. 2012. Comparison of Financial Distress Prediction Models : Evidence from Turkey. European Journal of Social Sciences. Vol. 32, No. 4, p. 607 618.
Yap, et. al. 2012. Evaluating Company Failure in Malaysia Using Financial Ratios and Logistic Regression. Asian Journal of Finance & Accounting. Vol. 4, No. 1, p. 330 344. https://doi.org/10.5296/ajfa.v4i1.1752
Yuanita, I. 2010. Prediksi Financial Distress dalam Industri Textile dan Garment. Jurnal Akuntansi & Manajemen. Vol. 5, No. 1, h. 101119.
Almilia, LS dan Kristijadi. 2003. Analisis Rasio Keuangan untuk Memprediksi Kondisi Financial Distress Perusahaan Manufaktur yang Terdaftar di Bursa Efek Jakarta. JAAI. Vol. 7, No. 2, h. 183 208.
Almilia, LS. 2006. Prediksi Kondisi Financial Distress Perusahaan Go Public dengan Menggunakan Analisis Multinomial Logit. Jurnal Ekonomi dan Bisnis. Vo. XII, No. 1, h. 1 26.
Brahmana, RK. 2003. Identifying Financial Distress Condition in Indonesia Manufacture Industry. Birmingham Business School, University of Birmingham. United Kingdom.
Brigham dan Houston. 2006. Dasar-dasar Manajemen Keuangan (Fundamentals of Financial Management). Buku 1. Edisi 10. Salemba Empat. Jakarta.
Ghozali, I. 2007. Aplikasi Analisis Multivariate dengan Program SPSS. Badan Penerbit Universitas Diponegoro. Semarang.
Hanafi, MM dan A. Halim. 2007. Analisis Laporan Keuangan. Edisi 3. UPP STIM YKPN. Yogyakarta.
Hardianti, S dan Barbara Gunawan. 2010. Pengaruh Size, Likuiditas, Profitabilitas, Risiko, dan Pertumbuhan terhadap Struktur Modal pada Perusahaan Manufaktur di Bursa Efek Indonesia. Jurnal Akuntansi dan Investasi. Vol. 11, No. 2.
Kamaludin dan KA Pribadi,. 2011. Prediksi Financial Distress Kasus Industri Manufaktur Pendekatan Model Regresi Logistik. Forum Bisnis dan Kewirausahaan Jurnal Ilmiah STIE MDP. Vol. 1, No. 1, h. 11 23.
Parwati, LA dan Y. Suhardjo. 2009. Faktor-faktor yang Mempengaruhi Audit Delay. Solusi. Vol. 8, No. 3, h. 29 42.
Ramadhani, AS dan N. Lukviarman. 2009. Perbandingan Analisis Prediksi Kebangkrutan Menggunakan Model Altman Pertama, Altman Revisi, dan Altman Modifikasi dengan Ukuran dan Umur Perusahaan Sebagai Variabel Penjelas (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. Jurnal Siasat Bisnis. Vol. 13, No. 1, h. 15 28. https://doi.org/10.20885/jsb.vol13.iss1.art2
Terzi, et. al. 2012. Comparison of Financial Distress Prediction Models : Evidence from Turkey. European Journal of Social Sciences. Vol. 32, No. 4, p. 607 618.
Yap, et. al. 2012. Evaluating Company Failure in Malaysia Using Financial Ratios and Logistic Regression. Asian Journal of Finance & Accounting. Vol. 4, No. 1, p. 330 344. https://doi.org/10.5296/ajfa.v4i1.1752
Yuanita, I. 2010. Prediksi Financial Distress dalam Industri Textile dan Garment. Jurnal Akuntansi & Manajemen. Vol. 5, No. 1, h. 101119.
Downloads
Published
2014-10-21
How to Cite
Vestari, M., & Farida, D. N. (2014). Analisis Rasio-Rasio Dan Ukuran Keuangan, Prediksi Financial Distress, Dan Reaksi Investor. AKRUAL: Jurnal Akuntansi, 5(1), 26–44. https://doi.org/10.26740/jaj.v5n1.p26-44
Issue
Section
Articles
License
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
Abstract views: 3819
,
PDF Downloads: 2083
