FORWARD LOOKING DISCLOSURE INDEX: KOMPARASI PREDIKSI KEBANGRUTAN PERUSAHAAN

http://doi.org/10.22216/jbe.v1i1.4320


Fransiska Natasya Widjajanto(1), Ari Budi Kristanto(2*), Maria Rio Rita(3)

(1) Universitas Kristen Satya Wacana
(2) Fakultas Ekonomika dan Bisnis Universitas Kristen Satya Wacana
(3) Universitas Kristen Satya Wacana
(*) Corresponding Author

Abstract


Valid information content is a useful input for stakeholders in making a decision. This study aims to examine the differences in the Forward Looking Disclosure Index (FLDI) in companies detected in bankruptcy in 2017 by comparing previous annual reports (T-5). The population consisted of non-financial companies listed on the Indonesia Stock Exchange (IDX) in the period 2013 and 2017. The samples were determined using a purposive sampling technique and obtained as many as 77 companies. Tests were carried out using the Altman Z-Score Modification Method to find out the number of detected companies went bankrupt in 2017. Thirty items of quantitative and qualitative FLDI were measured using the disclosure index. The results showed that there were differences in FLDI in companies detected as bankrupt in 2013 and 2017. The difference was shown by an increase in qualitative disclosures when companies were detected as bankrupt or experiencing financial difficulties. This difference is captured by stakeholders as a signal of financial difficulties experienced by companies, even further can be a warning of potential bankruptcy.  Kandungan informasi yang valid menjadi input yang bermanfaat bagi para pemangku kepentingan dalam mengambil suatu keputusan. Penelitian ini bertujuan untuk menguji perbedaan Forward Looking Disclosure Index (FLDI) pada perusahaan yang terdeteksi bangkrut di tahun 2017 dengan membandingkan laporan tahunan sebelumnya (T-5). Populasi terdiri dari perusahaan-perusahaan nonkeuangan yang terdaftar di Bursa Efek Indonesia (BEI) periode 2013 dan 2017. Sampel ditetapkan menggunakan teknik purposive sampling dan diperoleh sebanyak 77 perusahaan. Pengujian dilakukan menggunakan Metode Modifikasi Altman Z-Score untuk mengetahui jumlah perusahaan yang terdeteksi bangkrut pada tahun 2017. Sebanyak 30 item kuantitatif dan kualitatif FLDI diukur dengan menggunakan indeks pengungkapan. Hasil penelitian menunjukkan bahwa terdapat perbedaan FLDI pada perusahaan yang terdeteksi bangkrut tahun 2013 dengan 2017. Perbedaan tersebut ditunjukkan dari peningkatan pengungkapan secara kualitatif ketika perusahaan terdeteksi bangkrut atau mengalami kesulitan keuangan. Perbedaan ini ditangkap oleh para pemangku kepentingan sebagai suatu sinyal adanya kesulitan keuangan yang dialami oleh perusahaan, bahkan lebih jauh dapat menjadi peringatan potensi kebangkrutan.

Keywords


altman z-score modification; banckruptcy prediction; disclosure index; financial distress; forward looking disclosure index

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