ANALISIS PERBANDINGAN MODEL PREDIKSI FINANCIAL DISTRESS DENGAN MODEL SPRINGATE, OHLSON, ZMIJEWSKI, DAN GROVER

Abstract

This research aimed to find out the differences among Springate, Ohlson, Zmijewski, dan Grover prediction models also to find out the most accurate prediction models in predicting financial distress of coal mining companies which were listed on Indonesia Stock Exchange 2012-2016. The data collection technique used purposive sampling. In line with, there were 17 coal mining companies which were listed on Indonesia Stock Exchange. Moreover, tests on each prediction model were carried out by using paired sample t-test and the level of accuracy based on the actual conditions in the company. The research result concluded there were differences between the Springate, Ohlson, Zmijewski, and Grover models in predicting financial distress condition of coal mining companies which were listed on Indonesia Stock Exchange 2012-2016. The result of next studies concluded the Springate model had 85% of accuracy rate. On the other hand, the Zmijewski, Grover, and Ohlson models had 66%, 65%, and 62% of accuracy rate. In brief, the Springate model was the most accurate prediction model in predicting financial distress conditions of coal mining companies which were listed on Indonesia Stock Exchange.
Keywords: financial distress, springate, ohlson, zmijewski, grover