PREDIKSI KONDISI FINANCIAL DISTRESS PERUSAHAAN GOPUBLIC DENGAN MENGGUNAKAN ANALISIS MULTINOMIAL LOGIT

Jurnal Ekonomi dan Bisnis Vol. XII No. 1, Maret 2006
ISSN: 0854 - 9087

AUTHOR:
 Luciana Spica Almilia

ABSTRACT:

This research aims at providing empirical evidance on factors that affect financialy distressed firms. This study examines the role of financial ratio in predicting the accurance of financial distress in the context of Jakarta Stock Exchange. The samples consist of 43 firms with positive net income, positive equity book value and still listed until 2001; 14 firms with negative income from 2000 to 2001 and still listed; and 24 firms with negative income and negative equity book value from 2000 to 2001 and still listed. Multinomial logit regression is used to test the hypothesis. It is hypothised that financial ratio from statements of income, balance sheet and statements of cash flow can use to predict financial distress firms. This study use three models to examine examines the role of financial ratio in predicting the accurance of financial distress in the context of Jakarta Stock Exchange The finding of this research that financial ratio from statements of income, balance sheet and statements of cash flow (CATA, TLTA, NFATA, CFFOCL, CFFOTS and CFFOTL) are significant variables determining financialy distressed firms.

Keywords: financial distress, financial ratio, statements of income, balance sheet, statements of cash flow, multinomial logit.


FULL TEXT: FREE DOWNLOAD FINANCIAL DISTRESS