Abstract:
The lowering of coal price and the uncertainty of world oil prices affect the high
operational costs of coal enterprises. The Continuous lowering of coal prices
causes fnancial distress. Financial distress is defned as fnancial condition
before the bankcruptcy.The purpose of this research are to predict and compare
the fnancial distress among the models of Altman, Springate and Ohlson at
coal mining company listed on the Indonesia Stock Exchange in the period of
2008 - 2014. This type of research is included in a comparative. The population
are the coal companies fnancial statements listed on the Indonesian Stock
Exchange (BEI) in the period 2008-2014. The sampling with used purposive
sampling which acquired 7 companies. Data analysis used Altman, Springate
and Ohlson’s models. The hypothesis is tested Kruskal-Wallis test. The results
of research showed that Springate’s model has better accuracy than Altman
model and Ohlson model. Results hypothesis testing with the Kruskal-Wallis
test concluded there were no differences among the fnancial distress the model
Altman, Springate and Ohlson models at coal mining companies in the Indonesia
Stock Exchange in the period 2008-2014.
Keywaords:
fnancial distress prediction, altman, springate, ohlson model
