Comparative analysis of Altman, Springate and Zmijewski models in predicting the bankruptcy of retail companies in Indonesia and Singapore

This study aimed to determine whether there is a difference in the prediction results between the Altman, Springate, and Zmijewski models and the most accurate prediction model for predicting the bankruptcy of retail companies in Indonesia and Singapore. This is descriptive quantitative research. The sampling method used was purposive sampling in which data was taken from 15 Indonesian retail companies and 15 Singapore retail companies. This study implemented descriptive analysis, normality test, and One Way ANOVA test using an SPSS program. The results showed that: 1) There were significant differences between the Altman model, Springate model, and Zmijewski model in Indonesian retail companies. 2) There was a significant difference between the Altman model, Springate model, and Zmijewski model in the Singapore retail companies. 3) The most accurate model in predicting the bankruptcy of Indonesian retail companies was the Zmijewski model. 4) The most accurate model in predicting the bankruptcy of Singapore retail companies was the Altman mode