EVALUASI KONDISI FINANCIAL DISTRESSPADA PERUSAHAAN SUB SEKTOR MAKANAN DAN MINUMAN DI INDONESIA

Abstract

Abstract

 

This study aims to predict the condition of financial distress in companies that are experiencing economic growth by taking the object of food and beverage sub-sector companies listed on the Indonesia Stock Exchange in 2013-2017. This study employs the Altman Z-Score model in analyzing the company's financial distress conditions. The method used in this research is quantitative method. Therefore, the research aims to examine specific populations or samples, collect data using research instruments, and analyze quantitative/statistical data. The sampling technique in this study employs purposive sampling. The selected sample was 14 companies from 2013 to 2017, so that the total sample used in this study amounted to 70 observations.

The results suggested that companies in good financial conditions during the 5 years of research are PT Wilmar Cahaya Indonesia Tbk, PT Delta Djakarta Tbk, PT Indofood CBP Sukses Makmur Tbk, PT Multi Bintang Indonesia Tbk, PT Mayora Indah Tbk, PT Nippon Indosari Corporindo Tbk, PT Siantar Top Tbk, and PT Ultrajaya Milk Industry and Trading Company Tbk. Meanwhile,PT Sekar Bumi Tbk, and PT Sekar Laut Tbk are in goodfinancial conditions only for 2 years. The companies that had gray financial conditions during the 5 years are PT Indofood Sukses Makmur Tbk, PT Tiga Pilar Sejahtera Food Tbk, and PT Prashida Aneka Niaga Tbk experienced gray financial conditions for 3 years, PT Sekar Bumi Tbk, and PT Sekar Laut Tbk experienced gray financial conditions for 2 years. The company that experienced the financial distress for 5 years is PT Tri Banyan Tirta Tbk. PT Tiga Pilar Sejahtera Food Tbk and PT Prashida Aneka Niaga Tbk experienced financial distress for 2 years.

 

Keywords: financial distress, food and beverages companies