PENGARUH POTENSI KEBANGKRUTAN TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

The purpose of this study is to examine the effect of bankruptcy potential with Altman Z-Score model
on stock prices at chemical industry basic manufacturing companies listed in Indonesia Stock
Exchange period 2014 - 2016. The method used in this research is using simple linear regression.
The data in this study were obtained by processing the annual financial data of manufacturing
companies of the basic and chemical industry sectors listed in Indonesia Stock Exchange which
become the sample in this research as many as 102 samples with 34 companies. The results showed
that on average the manufacturing companies of the basic and chemical industry sectors listed on
the Indonesia Stock Exchange have a value of 2.1635 which indicates that on average the
manufacturing companies of the basic and chemical industry sectors in the Indonesia Stock
Exchange are used as research data this can be predicted to experience failure and Ability variations
of free variables, which in this case is the potential bankruptcy of Altman Z-Score to the variation of
dependent variable that is stock price is equal to 0,135 (13,5%). This means that there are other
factors (other variables) of 86.5% affecting the price of shares in the Indonesia Stock Exchange