comparative analysis of modified altman z-score, springate, zmijewski,bankometer, grover, and rgec models for financial distress prediction(empirical study in banking companies listed on idx 2011-2016)

This study aimed at determining the prediction of financial distress in banking sector companieslisted on the indonesia stock exchange (idx) with the research period of 2011-2016. this study utilizeda quantitative approach. determination of the sample was done by purposive sampling technique. thenumber of research samples consisted of 30 banking companies. the prediction models includedmodified altman z-score, springate, zmijewski, bankometer, grover, and rgec. the results showedthat (1) modified altman z-score analyzed that 16 samples were in the gray area criteria and 14 sampleswere in the bankrupt criteria (2) springate analyzed 30 samples in the bankrupt criteria (3) zmijewskianalyzed 30 samples in the bankrupt criteria (4) bankometer analyzed 30 samples in very healthy criteria(5) grover analyzed 1 sample in gray area criteria and 29 samples in non-bankrupt criteria (6) rgecanalyzed 14 samples in very healthy criteria, 15 samples in healthy criteria, and 1 sample in the criteria offairly healthy (7) the comparison between the results of the analysis of all models showed that themodified altman z-score, springate, and zmijewski models analyzed all samples included in the distresscategory.