Analisis Financial Distress Menggunakan Metode Altman Z-Score Dan Grover G-Score Pada Perusahaan Property Dan Real Estate Yang Terdaftar Di Bei Periode 2018-2023

Abstract

This study aims to determine the prediction of potential financial difficulties or financial pressures in property and real estate companies listed on the Indonesia Stock Exchange using the Altman Z-Score and Grover G-Score methods in 2018 to 2023. The population used in this study were property and real estate companies listed on the Indonesia Stock Exchange. In selecting the sample using a non-probability sampling technique so that 43 companies were selected as samples. The research used was quantitative research with descriptive analysis. Statistical analysis in this study used the calculation of the company's financial ratios from each bankruptcy method. The results of the study using the Altman method showed 3 companies in distress, 11 companies in gray area conditions and 29 companies in non-distress conditions. While the results of the study using the Grover method showed 4 companies in distress, 1 company in gray area conditions and 38 companies in non-distress conditions. Both research models produce different bankruptcy potentials for each period, only a few predictions produce similarities in determining financial conditions in each period.

Keywords: Financial distress, Altman Z-Score, Grover G-Score