PREDIKSI RASIO KEUANGAN TERHADAP KONDISI FINANCIAL DISTRESS PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

Abstract

This research aims to test the effect offinancial ratios which are CACL, CATA, WCTA, NITA, KETA, SETA, TLTA, STA, and ITO to predict the probabitity offinancial distress in the manufacturing companies listed in Indonesia Stock Exchan[e for the period of 2005-2009. Data used in this research are s.econdory ones which obtained f'om ICMD. Financial data from 2005 to 2007 are processed ones used to independent variables and data in 2008-2009 are used as guidance to determine Jinancial distress status using a negative EPS of two consecutive years. This study used 102 manufacturing company as samples which consist of 89 non-financial distress qnd I3 .financial distress- Hypothesis of this research are tested by analysis model of one, two and three years before financial clistress. Result of clata analysis using logistic regression method shows that the one year moclel produces the highest prediction accuracy. The test results with three analysis moclels also shows that the variable of CACL, WCTA and I{ITA significantly influence probability offinancial clistress.