Financial Distress Analysis Using Altman (Z-Score), Springate (S-Score), Zmijewski (X-Score), and Grover (GScore) Models in the Tourism, Hospitality and Restaurant Subsectors Listed on the Indonesia Stock Exchange Period 2015-2019

Abstract

Financial Distress Analysis is one way to determine the condition of a company.This information is very important for companies and stakeholders in making decisions.The purpose of this study is to calculate the score from the model used, namely Altman (Z-Score), Springate (S-Score), Zmijewski (X-Score), and Grover (G-Score) and to test or analyze the level of accuracy of each other in the Tourism, Hospitality and Restaurant subsector listed on the Indonesia Stock Exchange period 2015-2019.This research methodology is descriptive quantitative using secondary data with purposive sampling technique and the analysis method is quantitative analysis using the Altman (Z-Score), Springate (S-Score), Zmijewski (X-Score), and Grover (G-Score).The results of this study indicate that the Springate model (S-Score) has the highest level of accuracy in predicting financial distress, which is 68.75% higher than the other three models.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 12 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.