Prediksi Financial Distress dan Pengaruhnya Terhadap Return Saham Perusahaan Sub Sektor Industri Tektil dan Garmen yang Terdaftar di Bursa Efek Indonesia Periode 2017-2021
Article Sidebar
Main Article Content
Abstract
The aim of this research is to find out the potential for financial difficulties in the textile and garment industry subsectors for the 2017–2021 period. The research population consisted of 21 companies, with a research sample of as many as 10 companies. As for techniques in data analysis, it begins by measuring the potential for financial difficulties through the Springate calculation equation model, followed by panel regression data analysis, the classic assumption test, determination (R2), and hypothesis testing. According to research, eight of the ten companies that comprised the research sample declared financial difficulties during the study period. While the hypothesis test results show that working capital contributes to total assets, earnings before interest and tax contribute to total assets, profit before tax aids in the smooth discharge of liabilities, and sales of total assets have no significant impact on the company's stock return.
Article Details
References
Ayu, I. (2021). Industri Tekstil Akan Pulih Paling Lama dari Pandemi Covid-19. Bisnis.Com.
Effendi, Affandi, A., & Sidharta, I. (2016). Analisa Pengaruh Rasio Keuangan Model Springate Terhadap Harga Saham. Jurnal Ekonomi, Bisnis & Entrepreneurship, 10(1), 1–16.
Fauzi, S. E., Sudjono, & Saluy, A. B. (2021). Comparative Analysis of Financial Sustainability Using the Altman Z-Score, Springate, Zmijewski and Grover Models for Companies Listed at Indonesia Stock Exchange Sub-Sector Telecommunication Period 2014 – 2019. Journal of Economics and Business, 4(1). https://doi.org/10.31014/aior.1992.04.01.321
Gantino, R., & Jonathan, G. I. (2020). Pengaruh Hasil Altman Z-Score, Springate, Dan Zmijewski Sebagai Alat Prediksi Kebangkrutan Financial Distress) Terhadap Harga …. Jurnal RATRI (Riset Akuntansi Tridinanti), 1(2).
Hanivah, V., & Wijaya, I. (2018). Pengaruh Debt to Equity Ratio, Total Asset Turnover, Inflasi dan BI Rate terhadap Return Saham. Jurnal Profita, 11(1), 106. https://doi.org/10.22441/profita.v11.01.008
Haryanto. (2020). Rumahkan 1,5 Juta Karyawan, Apa Kabar Emiten Tekstil? CNBC Indonesia.
Indrawan, B. (2018). Analisis Financial Distress dan Pengaruhnya Terhadap Harga Saham Perusahaan Ritel di Indonesia Periode 2014-2017. Jurnal Ilmu Ekonomi Universitas Brawijaya, 1–18.
Jayani, D. H. (2019). Tergerus Impor, Neraca Dagang TPT Terburuk Sepanjang Sejarah. Databoks.Katadata.Co.Id.
Kewal, S. S., Vallentliy, & Anggraini, S. (2020). Pengaruh Financial Distress Terhadap Return Saham (Studi Pada Perusahaan Subsektor Batubara Di Bursa Efek Indonesia). Jurnal Keuangan Dan Bisnis, 18(2), 65–81. https://doi.org/10.32524/jkb.v18i2.66
Laksmiwati, M., & Reforma, G. K. P. (2021). Determinasi Model Altman Z Score Terhadap Return Saham. Jurnal Akuntansi Dan Keuangan, 10(1), 89. https://doi.org/10.36080/jak.v10i1.1433
M. Noor Salim, & Ismudjoko, D. (2021). An Analysis of Financial Distress Accuracy Models in Indonesia Coal Mining Industry: An Altman, Springate, Zmijewski, Ohlson and Grover Approaches. Journal of Economics, Finance and Accounting Studies, 3(2), 01–12. https://doi.org/10.32996/jefas.2021.3.2.1
Norliyana, Wahono, B., & Priyono, A. A. (2020). Analisis Komparasi Potensi Kebangkrutan Dengan Metode Altman Z-Score, Springate, Dan Zmijewski (Studi Pada Perusahaan Manufaktur Sub Sektor Tekstil Dan Garment Yang Terdaftar Di Bursa Efek Indonesia Periode 2017-2019). E-Jurnal Riset Manajemen, 92–108.
Nurhaliza, S. (2021). Menperin: Industri Tekstil Paling Terdampak Pandemi dan Perlu Perhatian. Idxchannel.Com.
Paramita, Y., & Ramdani, D. (2022). Determinasi Financial Distress Terhadap Return Saham. 8(1), 29–38.
Piscestalia, N., & Priyadi, M. P. (2019). Analisis Perbandingan Model Prediksi Financial Distress Dengan Model Springate, Ohlson, Zmijewski, Dan Grover. Jurnal Ilmu Dan Riset Akuntansi, 8(6), 1–17.
Riantani, S., Delvia, S., & Sodik, G. (2020). Model Prediksi Financial Distress : Pengaruhnya Terhadap Kinerja Saham Industri Tekstil Dan Garmen Di Indonesia. BISMA: Jurnal Bisnis Dan Manajemen, 14(1), 1. https://doi.org/10.19184/bisma.v14i1.8858
Rizki, M. J. (2019). Regulasi Longgar, Industri Tekstil Domestik “Sekarat.” Hukumonline.Com.
Sugiyono. (2019). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Alfabeta.
Sutra, F. M., & Mais, R. G. (2019). Faktor-Faktor yang Mempengaruhi Financial Distress dengan Pendekatan Altman Z-Score pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia Tahun 2015-2017. Jurnal Akuntansi Dan Manajemen, 16(01), 34–72. https://doi.org/10.36406/jam.v16i01.267
Timorria, I. F. (2020). Ternyata Industri Tekstil Punya Masalah Kronis, Apa Saja? Bisnis.Com.
Tobing, S. (2020). Industri Tekstil RI saat Pandemi: Sudah Jatuh, Tertimpa Tangga. Katadata.Co.Id.
Wahyuni, S. F., & Rubiyah. (2021). Analisis Financial Distress Menggunakan Metode Altman Z-Score , Springate , Zmijeski Dan Grover Pada Perusahaan Sektor Perkebunan yang Terdaftar di Bursa Efek Indonesia. Jurnal Ilmiah Magister Manajemen, 4(1), 62–72.
Yunianto, T. K. (2020). Produksi Anjlok saat Pandemi, Separuh Pabrik Tekstil Terancam Tutup. Katadata.Co.Id.