Determinants of Bankruptcy Prediction and Implication on Stock Prices in Oil and Gas Mining Sectors in Indonesia Stock Exchange Period 2012-2016
Author(s)
Sri Yani Kusumastuti , Denny Yerianto ,
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Abstract
This study aims to examine and analyze the influence of bankruptcy prediction model and implication to the stock price of oil and gas companies listed on the Indonesia Stock Exchange. Research data is the annual data for the 2012-2016 observation period obtained from the companies’ annual report. The sampling method used was purposive sampling. From a population of 9 companies, 8 companies met the criteria to be the sample. Simple regression analysis results showed that the value of the Z- Score affect the stock price. The result of the simultaneous multiple regression analysis on financial ratios of the Z - Score affects the stock prices, partially showed the ratio of WC/TA negatively affect the stock price and ratio RE/TA and EBIT/TA negatively affect the stock price; ratio MVE/BVD have a positive effect on stock prices.
Keywords
Altman Z-Score, WC/TA, RE/TA, EBIT/TA, MVE/BVD, the stock price
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