財務困境的決定因素：在印尼證券交易所上市的國有銀行的實證研究

Determinants of Financial Distress: An Empirical Study of State-Owned Bank Listed on the Indonesia Stock Exchange

林莎拉(Balqist Sarahila Bajrey)

指導教授 ： 蘇淑惠

義守大學/管理學院/企業管理學系/碩士(2022年)

摘要

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關鍵字

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並列摘要

Indonesian Law Number 37 of the Year 2004 declared no distinction of bankruptcy
based on the ownership. Therefore, a state-owned Bank bankruptcy must be viewed as the bankruptcy of an ordinary legal entity. Thus, companies should estimate the problem of facing bankruptcy by building a model to predict bankruptcy to prevent any corporate failure in its early stage (financial distress). This study analyzes the determination of financial ratio in predicting the financial distress by using current ratio, cash ratio, loan to deposit ratio (LDR), debt to asset ratio (DAR), debt to equity ratio (DER), capital adequacy ratio (CAR), return on asset (ROA) and return on equity (ROE), and Altman Z” Score as a proxy of financial distress.
The data source used is secondary data from four state-owned Banks that listed on Indonesia Stock Exchange over 15 years from 2007 to 2021, totaling 240 samples. The process used is quantitative method with multiple linear regression. The empirical result of this study showed that the Current Ratio, Cash Ratio, LDR, and ROA showed a significant value of 0.000 < 0.05, followed by Capital Adequacy Ratio (CAR) showed a significant value of 0.046 < 0.05 this variable are significant determinants of financial distress of the state-owned banks and can be applied as an early warning system to prevent financial distress of the stated-owned banks, on the other hand, debt to asset (DAR), debt to equity (DER) and return on equity (ROE) is insignificant determinants of financial distress of the stated-owned banks that listed on the
Indonesia Stock Exchange. The results of this study are expected to help and provide
information that can be used for banking companies to assist management in evaluating the results of its operations, especially in maintaining financial ratio. The information from this study can help investors to objectively assess the financial performance to make decisions for investing purpose and provide regulatory authorities in Indonesia with information that might benefit the early detection of financial distress and corporate failure to maximize efficiency also enriched the theoretical and empirical literatures with related studies on failure prediction.

並列關鍵字

State-owned Bank ； Financial Distress ； Financial Ratio ； Altman Z-Scores

參考文獻

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Ardiyanto, F. D. (2011). Prediction of Financial Ratios on Financial Distress Conditions of Manufacturing Companies Listed on the IDX. Journal of Economic & Business Dynamics, 8(1), 1-14.

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Bank BNI. (2021). Retrieved November 15, 2021, from Quarterly Report: https://www.bni.co.id/en-us/company/hubunganinvestor/presentationreport.

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