Analisis Rasio Keuangan sebagai Alat Prediksi Financial Distress (Studi Pada Perusahaan Manufaktur Di BEI Periode 2012-2015)

Abstrak

This research was conducted in the manufacturing companies have publicized their financial statements. The purpose of this study was to determine whether the ratios to use themCurrent Ratio (CR), Debt to Equity Ratio (DER), Earning Per Share (EPS), Net Profit Margin (NPM), Return On Assets (ROA), and Return On Equity (ROE) can differentiate companies experiencing financial distress or not experiencing financial distress, these ratios are used as a tool to analyze the predictors of whether a companies experiencing financial distress or not experiencing financial distress. While the source of the data derived from the Indonesia Stock Exchange that its financial statements have been published. The data in this research is to use analysis Discriminant Z-Score, Discriminant Z-Score. Based on test results 4 hypothesis, the hypothesis 1 can showed that the ratios of the independent variables can influence simultaneously significantly, Hypothesis 2 explains that there are two ratios which can distinguish partially significant is CR and ROE to see the value of F and significant at the table Tests of Equality of Group Means. Hypothesis 3 generate the most dominant ratio to determine the company bankrupt and not bankrupt namely CR. While Hipoesis 4 illustrates that these ratios can be used as a tool for predicting financial distress, and showed a unstable and accurate results, this hypothesis was measured by using a model Cut-off Pointand Press's Q which showed that these ratios can measured by using a these ratios can differentiate companies going experiencing financial distress or not experiencing financial distress unstably and accurately.