Prediction of Islamic Banking Bankruptcy in Indonesia: Comparative Study of Altman Z-Score and Springate Models

Shafitra - Nata, Rizka Chairunnisa, Noman Arshed

Abstract


Aim of this research is to calculate, measure, analyze, and evaluate predictions of potential bankruptcy of Islamic banking using the modified Altman Z-Score and Springate models and identify differences in the predicted results.  This research uses descriptive quantitative analysis.  Model analysis used is the Modified Altman Z-Score and Springate models.  The research object used is 12 Islamic banks in Indonesia 2013-2019 and data collection includes literature study and observation.

Modified Altman Z-Score model predicts that 1.19% of Islamic banking is in gray area and 98.81% is in a non-bankrupt position.  Meanwhile, the Springate model predicts 38.10% of Islamic banking is in a bankrupt position and 61.90% is in a non-bankrupt position.  This research only analyzes and compares the prediction results of the potential bankruptcy of Islamic banking with the modified Altman Z-Score and Springate models.

This research can be used as an evaluation material for Islamic Banking in Indonesia in the face of potential bankruptcy so that companies can immediately improve their management and company performance.


Keywords


Islamic Banking, Bankruptcy, Altman Z-Score, Springate.

Full Text:

PDF

References


Altman, E. I. (1968). Financial Ratios: Discriminan Analysis and The Prediction of Coporate Bankruptcy. The Journal of Finance, 23(4), 589. https://doi.org/10.1111/j.1540-6261.1968.tb00843.x

Arum, D. P., & Handayani, S. R. (2018). Analisis Perbandingan Metode Altman (Z-Score), Springate (S- Score), dan Zmijewski (X-Score) dalam Memprediksi Kebangkrutan Perusahaan (Studi pada Perusahaan Tekstil dan Garmen yang Terdaftar di Bursa Efek Indonesia Periode 2012-2016). Jurnal Administrasi Bisnis, 60(1), 109–118.

Bowo, U. N. A., & Ayem, S. (2013). Analisis Perbandingan Model Altman Modifikasi Dan Springate Untuk Memprediksi Kebangkrutan Pada Perusahaan Perbankan Yang Terdaftar Di Bursa Efek Indonesia Sebelum Dan Sesudah Adanya Lembaga Penjamin Simpanan. Jurnal Akuntansi, 1(2), 11–21. https://doi.org/10.24964/ja.v1i2.12

Hariyani, D. S., & Sujianto, A. (2017). Analisis Perbandingan Model Altman, Model Springate, Dan Model Zmijewski Dalam Memprediksi Kebangkrutan Bank Syariah Di Indonesia. Inventory: Jurnal Akuntansi, 1(1), 13–23. https://doi.org/10.25273/inventory.v1i1.2289

Ihsan, D. N., & Kartika, S. P. (2016). Potensi Kebangkrutan Pada Sektor Perbankan Syariah Untuk Menghadapi Perubahan Lingkungan Bisnis. Etikonomi, 14(2), 113–146. https://doi.org/10.15408/etk.v14i2.2268

Imam Asyrofi. (2019). Analisis Risiko Kebangkrutan Bank Syariah dengan Metode Altman Z-Score, Springate, dan Zmijewski X-Score (Studi Pada Bank Umum Syariah Periode 2014-2018). Unpublised Thesis, 53(9), 1689–1699. https://doi.org/10.1017/CBO9781107415324.004

Kamal, S. I. M. (2012). Analisis Prediksi Kebangkrutan pada Perusahaan Perbankan Go Public di Bursa Efek Indonesia (Dengan Menggunakan Model Altman Z-Score). Unpublised Masters Thesis, October 2012.

Kartika, S. P. (2015). Potensi Kebangkrutan pada Sektor Perbankan Syariah untuk Menghadapi Perubahan Lingkungan Bisnis dengan Menggunakan Model Altman Z-Score Modifikasi (Studi Bank Umum Syariah di Indonesia Periode 2010-2014). NASPA Journal, 42(4), 1. https://doi.org/10.1017/CBO9781107415324.004

Nur Hasanah. (2010). Analisis rasio keuangan model altman dan model springate sebagai. Unpublised Thesis.

Otoritas Jasa Keuangan. (2020). Laporan Publikasi Bank Umum Syariah. Webiste Otoritas Jasa Keuangan. https://www.ojk.go.id/id/kanal/perbankan/data-dan-statistik/laporan-keuangan-perbankan/default.aspx#

Peter, & Yoseph. (2011). Analisis Kebangkrutan Dengan Metode Z-Score Altman, Springate dan Zmijewski Pada PT.Indofood Sukses Makmur TBK Periode 2005-2009. Akurat Jurnal Ilmiah Akuntansi, 2(6), 1–23.

Rahman, M. E. (2015). Uji Ketahanan Krisis Terhadap Perbankan Syariah Di Indonesia Dengan Ukuran Ibc ( Indeks Banking Crisis ) Tahun Periode 2006-2012. Jebis, 1(1), 79–88.

Rajasekar, T., Ashraf, S., & Deo, M. (2014). An Empirical Enquiry on the Financial Distress of Navratna Companies in India Pondicherry Central University Pondicherry Central University. Journal of Accounting and Finance, 14(1987), 100–110.

Ramadhani, A. S., & Lukviarman, N. (2009). Perbandingan Analisis Prediksi Kebangkrutan Menggunakan Model Altman Pertama, Altman Revisi, dan Altman Modifikasi dengan Ukuran dan Umur Perusahaan sebagai Variabel Penjelas (Studi Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia). Jurnal Siasat Bisnis, 13(1), 15–28. https://doi.org/10.20885/jsb.vol13.iss1.art2

Rudianto. (2013). Akuntansi Manajemen Informasi untuk Pengambilan Keputusan Strategis. Erlangga.

Saragih, H. P. (2019, November). Terungkap! Ini Penyebab Masalah Kronis di Bank Muamalat. CNBC Indonesia. https://www.cnbcindonesia.com/market/20191115093424-17-115443/terungkap-ini-penyebab-masalah-kronis-di-bank-muamalat

Springate, G. L. V. (1978). Predicting The Possibility of Failure in a Canadian Firm. Unpublised Masters Thesis.

Suparningsih, B., & Chaeriah, E. S. (2019). Perbandingan Prediksi Kebangkrutan Menggunakan Model Altman Modifikasi, Springate, Zmijewski dan Grover PT. Ratu Prabu Energi, Tbk. Jurnal Manajemen Bisnis Krisnadwipayana, 7(3).

Tahir Saleh. (2020). Ganti Nama Jadi Bank Net, Maybank Syariah Resmi Dicaplok. CNBC Indonesia. https://www.cnbcindonesia.com/market/20200209124846-17-136431/ganti-nama-jadi-bank-net-maybank-syariah-resmi-dicaplok




DOI: http://dx.doi.org/10.24042/febi.v5i2.7747

Refbacks

  • There are currently no refbacks.


Copyright (c) 2020



Ikonomika : Jurnal Ekonomi dan Bisnis Islam  is a Journal of Islamic Economics and Business, Published by the Faculty of Islamic Economics and Business at UIN Raden Intan Lampung Indonesia. This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.