Analisis Ketepatan Model Altman Z-Score, Zmijewski, Grover, Dan Springate Dalam Memprediksi Kebangkrutan Perusahaan (Studi Kasus Pada Perusahaan Delisting Di Bei Periode 2012-2017)

One indicator of a company's bankruptcy is delisting from the IDX. Information to predict bankruptcy is necessary to anticipate in terms of decision making, with information on bankruptcy prediction companies can quickly make decisions to anticipate or prepare for a situation where the company will experience bankruptcy. The purpose of this study was to find out the most appropriate model between the Altman Z-Score model, Zmijewski, Grover, and Springate in predicting the bankruptcy of delisting companies on the Indonesia Stock Exchange. The subjects in the study were companies that experienced forced delisting on the Indonesia Stock Exchange in the period 2012-2017 as many as 17 companies from 23 companies that were delisted during the study period. The most appropriate model for predicting bankruptcy is the Springate model which has the highest accuracy and the lowest error type of the four models. The Springate model produces a value that tends to be low, indicating that the company's performance is getting worse and getting the possibility of bankruptcy. Keyword : Bankcruptcy, Altman Z-Score Model, Zmijewsky Model, Grover Model, Springate Model, Delistin