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

Abstract

This research was conducted to test whether any difference between the Springate prediction model, Zmijewski dan Grover and to find out which one is the most accurate model to predict the financial distress condition The population of this research used retail companies listed on the Indonesia Stock Exchange in the periods of 2015-2019. Furthermore, the sample collection used the purposive sampling technique with 13 companies or 65 research samples during periods of 5 years. Moreover, the data analysis technique of this research used Kruskal Wallis and the level of accuracy based on the real condition of the company.Based on the research result it states that there was a difference among the prediction model of Springate, Zmijewski, and Grover. In other words, simultaneously the highest level of accuracy was in the Grover model, continue with Springate and then Zmijewski model. Additionally, these concluded that that the Grover model was the most accurate model to predict the financial distress condition at the retail companies listed on Indonesia Stock Exchange.
Keywords: financial distress, springate, zmijewski, grover