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Analysis of The Bankruptcy of Companies with Altman Model and Ohlson Model

Management Analysis Journal · Vol. 9 No. 3 (2020) · hlm. 243–251

DOI
10.15294/maj.v9i3.37797
ISSN
2502-1451, 2252-6552
Terbit
2020-09-18
Penerbit
Universitas Negeri Semarang
Bahasa
eng

Abstrak

Often companies that have been operating for a certain period forced to disperse because of increased financial distress that caused bankruptcy. There are two models that can be used to predict bankruptcy of companies, that is Altman model (Z-score) and Ohlson model. This study aims to determine the accuracy of the Altman model (Z-Score) and Ohlson's model in predicting bankruptcy of delisting companies in Indonesia Stock Exchange for 2015-2019 period.The population in this study were all of delisting companies in Indonesia Stock Exchange for 2015-2019 period, totaled 17 companies. The number of samples used in this study were 8 companies, by using purposive sampling method. Data analysis used data processing application SPSS version 25. The results showed that accuracy of the Altman model is 58.3%, while the Ohlson model is 79.2%. The conclusion of this research Ohlson model has the highest accuracy that compared to Altman model in predicting bankruptcy at delisting companies in Indonesia Stock Exchange for 2015-2019 period, with accuracy values of Ohlson model is 79.2% and 58.3% for the Altman model. For further researchers, it is expected to increase the number of samples of companies studied and extend the research periods in order to provides more accurate results, and combining the Altman and Ohlson models with other bankruptcy prediction models that can be applied in companies in Indonesia.

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  • State University of Semarang
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Rekan penulisOrganisasiArtikel bersama
Kris Brantas AbiprayuState University of Semarang2
Muhammad Anri Dwi WinantoState University of Semarang1
Endah Prapti LestariState University of Semarang1
Nanang Dwi PraatmanaState University of Semarang1
Kartika Dwi Chandra SariState University of Semarang1
AthoillahState University of Semarang1
Salsabila Nadianisa MarutoState University of Semarang1
M. Iqrar Nusa BhaktiState University of Semarang1
Andhi WijayantoState University of Semarang1
Erisa Aprilia WicaksariState University of Semarang1
Syam WidiaState University of Semarang1
Ervina Ratna NingsihState University of Semarang1
Annisa MarliawatiState University of Semarang1
Okti WitasariState University of Semarang1
Rizal Abdul Jabbar SadewoState University of Semarang1

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Sumber metadata: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/sju/index.php/maj/oai, pertama di-harvest 6 Nov 2026, terakhir terlihat 6 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en-US">Analysis of The Bankruptcy of Companies with Altman Model and Ohlson Model</dc:title>
	<dc:creator>Najib, Andi Septian</dc:creator>
	<dc:creator>Cahyaningdyah, Dwi</dc:creator>
	<dc:description xml:lang="en-US">Often companies that have been operating for a certain period forced to disperse because of increased financial distress that caused bankruptcy. There are two models that can be used to predict bankruptcy of companies, that is Altman model (Z-score) and Ohlson model. This study aims to determine the accuracy of the Altman model (Z-Score) and Ohlson's model in predicting bankruptcy of delisting companies in Indonesia Stock Exchange for 2015-2019 period.The population in this study were all of delisting companies in Indonesia Stock Exchange for 2015-2019 period, totaled 17 companies. The number of samples used in this study were 8 companies, by using purposive sampling method. Data analysis used data processing application SPSS version 25. The results showed that accuracy of the Altman model is 58.3%, while the Ohlson model is 79.2%. The conclusion of this research Ohlson model has the highest accuracy that compared to Altman model in predicting bankruptcy at delisting companies in Indonesia Stock Exchange for 2015-2019 period, with accuracy values of Ohlson model is 79.2% and 58.3% for the Altman model. For further researchers, it is expected to increase the number of samples of companies studied and extend the research periods in order to provides more accurate results, and combining the Altman and Ohlson models with other bankruptcy prediction models that can be applied in companies in Indonesia.</dc:description>
	<dc:publisher xml:lang="en-US">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2020-09-18</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/sju/maj/article/view/37797</dc:identifier>
	<dc:identifier>10.15294/maj.v9i3.37797</dc:identifier>
	<dc:source xml:lang="en-US">Management Analysis Journal; Vol 9 No 3 (2020): Management Analysis Journal; 243-251</dc:source>
	<dc:source>2502-1451</dc:source>
	<dc:source>2252-6552</dc:source>
	<dc:source>10.15294/maj.v9i3</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/sju/maj/article/view/37797/16875</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2020 Management Analysis Journal</dc:rights>
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