MODEL ALTMAN (Z-SCORE) UNTUK MEMPREDIKSI FINANCIAL DISTRESS: PENERAPAN GOOD CORPORATE GOVERNANCE DI INDONESIA

Salsabil Faddhila Putri Setiawan, Shinta Permata Sari

Abstract


The Indonesia Stock Exchange (IDX) recorded that the primary consumer goods sector weakened by 7.43% until August 2021 compared to the consumer and non-primary raw goods sectors. The use of good corporate governance principles can improve company performance both in normal and post-crisis conditions. This study aims to determine the effect of board size, board independence, board of directors, and audit committee on financial distress in consumer non-cyclicals sector companies for the 2020-2022 period. This research is a type of quantitative research using secondary data, namely annual reports and audited financial statements. The sampling technique used is a purposive sampling technique with a total sample of 107 data during the 2020-2022 period. The data analysis used in this research is multiple linear regression analysis. The results showed that board size and board of directors affect financial stress. Meanwhile, the independence board and audit committee do not affect financial distress.

Keywords


financial distress; board size; board independence; board of directors; audit committee

Full Text:

PDF

References


Anggraeni, M. D. (2011). Agency Theory dalam Perspektif Islam. Jurnal Hukum Islam IAIN Pekalongan. 9(2). 370-381.

Dalton, D.R.,. Daily, C. M., Johnson, J.L., & Ellstrand, A.E. (1999). Number of Directors and Financial Performance: A Meta-Analysis. Academy of Management Journal, 42(6). 674–686.

Darsono & Ashari. 2005. Pedoman Praktis Memahami laporan Keuangan. Yogyakarta: Penerbit Andi.

FCGI. (2002). The Essence Good Corporate Governance: Konsep dan Implementasi Perusahaan Publik dan Korporasi Indonesia. Jakarta: Yayasan Pendidikan Pasar Modal Indonesia & Sinergy Communication.

FCGI. (2009). Peranan Dewan. Komisaris dan Komite Audit dalam Pelaksanaan Corporate Governance. Jakarta: Yayasan Pendidikan Pasar Modal Indonesia & Sinergy Communication.

Gujarati. D. (2003). Ekonometri Dasar. Jakarta: Erlangga.

Hanafi. M. (2010). Manajemen Keuangan. Ed.1. Yogyakarta: BPFE.

Kalbuana N., Taqi, M., Uzliawati, L., & Ramdhani, D. (2022). The Effect of Profitability, Board Size, Woman on Boards, and Political Connection on Financial Distress Conditions. Cogent Business & Management. 9(1). 214-229.

Kartorahardjo. I. Z. P. (2022). Pengaruh Good Corporate Governance Terhadap Kinerja Keuangan dan Nilai Perusahaan Studi Pada BEI Tahun 2016–2020. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha. 13(02). 561-573.

Maryam, M., & Yuyetta, E. N. A. (2019). Analisis Pengaruh Mekanisme Corporate Governance Terhadap Probabilitas Terjadinya Financial Distress. Diponegoro Journal of Accounting, 8(3).

Misdiyanti, R., Pratomo. D., & Zultilisna. D. (2023). Pengaruh Aktivitas Tunneing. Opini Audit Dan Ukuran Dewan Komisaris Terhadap Kinerja Perusahaan Dengan Metode Altman Z-Score. Mutiara: Jurnal Penelitian dan Karya Ilmiah. 1(5). 68-78.

Muzakky, R. A. (2019). Prediksi Financial Distress Dengan Menggunakan Model Altman (Z-Score) dan Zmijewski (X-Score) (Studi Pada Perusahaan Otomotif Dan Komponen Yang Terdaftar di Bursa Efek Indonesia Periode 2013-2016). Jurnal Ilmiah Mahasiswa FEB. 7(2).

Nasiroh, Y., & Priyadi, M. P. (2018). Pengaruh Penerapan Good Corporate Governance Terhadap Financial Distress. Jurnal Ilmu Dan Riset Akuntansi (JIRA). 7(9).

Ningrum, A., & Hatane, S. E. (2017). Pengaruh Corporate Governance Terhadap Financial Distress. Business Accounting Review. 5(1). 241-252.

Putra, M. D.. & Muslih, M. (2019). Pengaruh Kepemilikan Institusional. Kepemilikan Manajerial. Dewan Komisaris Independen. dan Komite Audit Terhadap Financial Distress (Studi Empiris Pada Perusahaan Sub Sektor Transportasi di Bursa Efek Indonesia Tahun 2013 - 2017). e-Proceedings of Management. 6(2).

Putri, A. Z., Nazar, M. R., & Kurnia, K. (2018). Pengaruh Corporate Governance Dan Ukuran Perusahaan Terhadap Tax Avoidance (Studi Empiris Pada Perusahaan Yang Terdaftar di Indeks Sri Kehati Periode 2013-2015). e-Proceedings of Management. 5(1).

Sa’diah. W. M.. & Utomo, M. N. (2021). Peran Good Corporate Governance Dalam Meminimalisir Terjadinya Financial Distress. Bisma: Jurnal Bisnis dan Manajemen. 15(1). 36-46.

Sari, R.C., & Zuhrohtun. 2006. Keinformatifan Laba di Pasar Obligasi dan Saham: Uji Liquidation Option Hypothesis. Prosiding Simposium Nasional Akuntansi 9 Padang.

Simorangkir, R. T. M. C. (2019). Pengaruh Kinerja Keuangan Terhadap Return Saham Perusahaan Pertambangan. Jurnal Bisnis Dan Akuntansi. 21(2). 155-164.

Widhiastuti. R., Nurkhin, A., & Susilowati, N. (2019). Corporate Governance Terhadap Financial Distress. Jurnal Economia. 15(1). 34-47.

Yolanda, J., & Kristant, F. T. (2020). Analisis Survival Pada Financial Distress Menggunakan Model Cox Hazard. BALANCE: Economic. Business. Management and Accounting Journal. 17(2). 21-30.

Zhafirah. A., & Majidah, M. (2019). Analisis Determinan Financial Distress (Studi Empiris Pada Perusahaan Subsektor Tekstil dan Garmen Periode 2013-2017). Jurnal Riset Akuntansi dan Keuangan. 7(1). 195-204.




DOI: http://dx.doi.org/10.29040/jap.v24i2.12557

Refbacks

  • There are currently no refbacks.


Jurnal Akuntansi dan Pajak, ISSN 1412-629X l E-ISSN 2579-3055

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.
web analytics

pengeluaran macau