Vol 5 (2021): December
Business and Economics

Comparative Analysis of Altman Z - Score, Zmijewski, Fulmer and Ohlson Methods in Predicting Financial Distress
Analisis Komparasi Metode Altman Z - Score, Zmijewski, Fulmer dan Ohlson dalam Memprediksi Financial Distress


Eka Hasanah Ariyati
Universitas Muhammadiyah Sidoarjo, Indonesia *
Nurasik Nurasik
Universitas Muhammadiyah Sidoarjo, Indonesia

(*) Corresponding Author
Picture in here are illustration from public domain image or provided by the author, as part of their works
Published December 25, 2021
Keywords
  • Financial Distress,
  • Altman Z-Score,
  • Zmijewski,
  • Fulmer,
  • Ohlson,
  • Kruskal Wallis,
  • Bankruptcy Prediction Method
  • ...More
    Less
How to Cite
Ariyati, E. H., & Nurasik, N. (2021). Comparative Analysis of Altman Z - Score, Zmijewski, Fulmer and Ohlson Methods in Predicting Financial Distress. Academia Open, 5, 10.21070/acopen.5.2021.2359. https://doi.org/10.21070/acopen.5.2021.2359

Abstract

This study was conducted in order to determine the differences between the Altman, Zmijewski, Fulmer and Ohlson methods in predicting financial distress and to find out which method is the most significant in predicting financial distress in packaging and plastic companies on the Indonesia Stock Exchange. In this study using quantitative research methods. The object of research is packaging and plastic companies on the Indonesia Stock Exchange for the 2016-2019 period. The data used is secondary data, namely financial reports published on the official website of the Indonesia Stock Exchange. The data collection technique used purposive sampling with the number of samples obtained as many as 9 companies. The data analysis technique uses a comparison of the average Kruskal Wallis test on the SPSS 18 application. Based on the results of the study, it shows that there are significant differences between the Altman, Zmijewski, Fulmer and Ohlson methods in predicting financial distress in packaging and plastic companies. And from this research it is known that the Altman method is a method that has the highest average value, which means the most significant method among other methods with a value of 113.69, while the Zmijewski method is 48.31, the Fulmer method is 103.31, and the Ohlson method 24.69.

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