Financial Distress in the Tourism and Leisure Industry: The Accuracy of Altman, Springate, Zmijewski, and Grover Models
Year: 2025
Type: article
Abstract: This study aims to determine the difference in results and accuracy of Altman, Springate, Zmijewski, and Grover's models in predicting Financial Distress. A quantitative model was applied to this study using a purposive sampling technique with a sample of 35 companies. The object of the research is tourism and leisure industry companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2022 period. The results showed that Grover was the model with the highest accuracy rate of 89%, type error of 11%. Then followed by Altman with an accuracy rate of 80%, type error of 9%, Zmijewski with an accuracy rate of 74%, type error of 26%, and Springate with the lowest accuracy rate of 63% and type error of 37%. So that grover is the most accurate prediction model to predict financial distress in tourism and leisure industry companies listed on the Indonesia Stock Exchange (IDX).
Institution: University of Mataram
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4409296459