Analysis of Bankruptcy Prediction Using Altman Z-Score, Springate Grover, Zmijewski and Zavgren in Retail Trade Sub Sectors Registered in Indonesia Stock Exchange Period 2015-2019
Retail trade has an important role in the growth of the national economy. Retail trade not only ensures a reciprocal relationship between producers and consumers, the absorption of labor but plays a role in marketing domestic products. However, with the development of globalization, the emergence of online shopping applications makes competition increasingly tight, resulting in decreased purchasing power of customers in the company resulting in the company's sales decline in recent years which eventually decided to roll out and some companies suffered losses that could result in bankruptcy. The study aims to find out the bankruptcy predictions of retail trading companies as well as find out the most accurate models of Altman Z-Score, Springate, Grover, Zmijewski, and Zavgren. The data used in this study is secondary data in the form of financial statements of each retail trading company in the period 2015-2019. The results of this study show that the Springate model is the most accurate model compared to the Altman Z-Score, Grover, Zmijewski, and Zavgren models.