ANALISIS RATIO KEUANGAN DALAM PREDIKSI KEBANGKRUTAN DENGAN MENGGUNAKAN MULTIVARIATE DISCRIMINANT ANALYSIS (BEJ, 1999-2005)

Effendi, Lutvi , Drs. Sumiyana, M.Si., Ak.

2007 | Skripsi | S1 Extention - Accounting

Penelitian ini bertujuan untuk untuk menguji ada tidaknya perbedaan secara statistik pada ratio-ratio keuangan yang digunakan dalam metode Altman antara perusahaan yang gagal (delisted company) dan perusahaan tidak gagal (listed company) serta untuk menguji pengaruh ratio Working Capital/Total Assets, Retained Earning/Total Assets, Earning before Interest and Taxes/Total Assets, Market Value of Equity/Book Value of Total Debt dan Sales/Total Assets memiliki pengaruh yang kuat dalam prediksi kegagalan pada perusahaan nonkeuangan yang go public di Indonesia. Penelitian ini menggunakan Multivariate Discriminant Analysis untuk menganalisis data sampel dari 10 perusahaan nonkeuangan yang gagal (delisted company) dan 10 perusahaan nonkeuangan yang tidak gagal (listed company) periode tahun 1999-2005. Data-data yang diambil dalam penelitian ini berasal dari laporan keuangan perusahaan. Hasil penelitian ini menunjukan ratio Working Capital/Total Assets, Retained Earning/Total Assets, Earning before Interest and Taxes/Total Assets, Market Value of Equity/Book Value of Total Debt dan Sales/Total Assets terdapat perbedaan yang signifikan secara statistik antara perusahaan gagal (delisted company) dan tidak gagal (listed company). Ratio Earning before Interest and Taxes/Total Assets memiliki pengaruh yang kuat di dalam prediksi kegagalan pada perusahaan nonkeuangan yang go public di Indonesia. Kata Kunci: Rasio keuangan, Kebangkrutan perusahaan, Multivariate Discriminant Analysis

This research is aimed to test the differences statistically among financial ratios that are used in Altman method between delisted companies and listed companies and to test Working Capital/Total Assets, Retained Earning/Total Assets, Earning before Interest and Taxes/Total Assets, Market Value of Equity/Book Value of Total Debt and Sales/Total Assets Ratios that have strong influence to predict failure on non-financial public company in Indonesia. This research used Multivariate Discriminant Analysis to analyze sample datas among 10 delisted companies and 10 listed companies from 1999 to 2005. The datas used are taken from the companies financial reports. The result shows that there is a significant differences statistically in Working Capital/Total Assets, Retained Earning/Total Assets, Earning before Interest and Taxes/Total Assets, Market Value of Equity/Book Value of Total Debt and Sales/Total Assets ratios between delisted companies and listed companies. Earning before Interest and Taxes/Total Assets Ratio have strong influence in failure prediction on non-financial public company in Indonesia. Keywords: financial ratios, failed firms, Multivariate Discriminant Analysis

Kata Kunci : Rasio keuangan, Kebangkrutan perusahaan, Multivariate Discriminant Analysis, financial ratios, failed firms