ANALISIS FINANCIAL DISTRESS UNTUK MEMPREDIKSI RISIKO KEBANGKRUTAN PADA PERUSAHAAN FARMASI DI INDONESIA

Abstract

This research aimed to find out the company’s bankruptcy level using Altman Z-Score on Ppharmaceutical Company which were listed on Indonesia Stock Exchange. Population of this reserch were pharmaceutical companies listed on Indonesia Stock Exchange (IDX) that publishes financial reports regularly in 2014 to 2017 are 8 companies. The sample collection technique used saturated sampling. The result of this reserch used Z-Score Altman that was implemented in detecting the possibility of bankruptcy in pharmaceutical companies listed on Indonesia Stock Exchange from 2014 until 2017. The model of Z-Score Altman grouping pharmaceutical companies were in three categories, namely healthy condition, almost bankrupt, and bankrupt condition. Suggestion for the company on the category of prone to bankruptcy should be careful in making company’s policy also tried to increase the company’s performance. Meanwhile, company with a healthy condition should maintain and increase the performance in order to get a profit and avoid bankrupt. So there are two companies have prediction bangkrupt
Keywords: bankcruptcy, financial distress, altman Z-score.