ANALISIS DISKRIMINAN DALAM MEMPREDIKSI KEBANGKRUTAN PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA TAHUN 2021

Abstract

Before investing in an investment instrument, especially in stock instruments, it is necessary to examine the company’s financial statements to determine whether the company’s financial condition is in good or bad condition. Financial statements’ conditions will affect the ability to pay the company’s obligations, which can affect the stock price and dividend distribution to stockholders. Therefore, discriminant analysis can be used as a method to determine the condition of the financial statements based on financial ratios. The purpose of discriminant analysis is to classify a company into a bankrupt group or a non-bankrupt group based on financial ratios, and can find out which financial ratios have an influence on company performance. The research data used is data on manufacturing companies listed on the Indonesia Stock Exchange in 2021 as many as 135 companies. The research results showed that financial ratios which influence the financial condition of a company are five financial ratios that are Current Net Working Capital (NWC), Total Asset Turnover (TATO), Debt Ratio (DR), Gross Profit Margin (GPM), and Return on Asset (ROA). Error rate value or APER in the discriminant analysis method is 0.037 or equal to 3,7% so the classification accuracy of the group of companies from a discriminant function is 96.3%.

Keywords: Bad condition, Discriminant Analysis, financial statements, Investment