MEMPREDIKSI KEPAILITAN PADA PERUSAHAAN SEKTOR PROPERTI YANG TERDAFTAR DI BURSA EFEK INDONESIA SEBELUM DAN SESUDAH COVID-19

Abstract

The COVID-19 pandemic has slowed down world economic activity. Where this will lead to an economic recession, where companies are predicted to experience financial difficulties or financial difficulties leading to the bankruptcy of the company. Predicting bankruptcy is important to protect stakeholders in the capital markets. This study aims to predict the condition of property sector companies before and after the COVID-19 pandemic listed on the Indonesia Stock Exchange for the 2018-2021 period. The method used is comparative descriptive. The sampling technique uses the purposive sampling method and the samples used are 23 companies. The data used is the financial statements for the period 2018-2021 of property companies listed on the Indonesia Stock Exchange. The analysis technique used is the Altman Z-score modification model is to use Microsoft Excel 365 software to find the z-score value of each company and wilcoxon Signed Rank Test using SPSS 23. The results showed that before the COVID-19 pandemic, there were 18 companies in the safe zone, 4 companies in the gray zone, and 1 company in the distress zone, while after the COVID-19 pandemic, 17 companies were in the safe zone, 4 companies in the gray zone, and 2 companies in the distress zone. Statistically, there are significant differences in the level of financial distress in the property sector before COVID-19 and after COVID-19 using the Altman Z-score. Based on the results of this study, the COVID-19 pandemic has an impact on property sector companies that can lead companies to the threat of bankruptcy.