Effectiveness Analysis for Financial Distress Prediction in the Transportation Sector During the Pandemic: A Comparison of the Altman, Zmijewski, And Grover Models
Journal Title: Journal of Economics, Finance and Management Studies - Year 2025, Vol 8, Issue 06
Abstract
The COVID-19 pandemic that began in March 2020 had a significant impact on the economic sector, including transportation. The Large-Scale Social Restrictions (PSBB) Policy and the Enforcement of Community Activity Restrictions (PPKM) limited community mobilization, stopped some economic activities, and closed public facilities, thereby reducing business profits. The transportation sector recorded a decrease in operational activities with negative growth of -15.04%. This condition causes the risk of financial distress, which is financial difficulties marked by insufficient company cash to pay debts, which can trigger significant losses up to bankruptcy. This study uses a qualitative method based on the analysis of transportation companies' financial statements for the 2019–2022 period to identify financial distress risks. The three prediction models used are Altman Z-score, Zmijewski, and Grover.
Authors and Affiliations
Muhammad Miqdad , Yosefa Sayekti , Nadya Astadewi Putri Abdullah,
The Effect of Competence and Job Characteristics on Employee Performance through Job Satisfaction: A Study at PG. Kebon Agung Malang
This study aims to describe Competencies, job characteristics, job satisfaction and employee performance, analyze the influence of Competencies and Job Characteristics on job satisfaction, analyze the influence of Compet...
Implementation of Image Management with Cyber Public Relations to Generation Z by Government Organization
The purpose of this study was to analysis Government Public Relation strategies in the Indonesian Ministry of Health to managing their positive image using the Cyber PR strategy by David Phillips and Philip Young, the Im...
Promoting Flexible Work Arrangements: The Case of Selected Medium-Size BPO Company in Metro Manila
This study examined the impact of Flexible work arrangements (FWAs) on employee engagement, retention, productivity, and work-life balance in selected medium-size BPO companies in Metro Manila. A convergent mixed-methods...
The Effects of Employment and Trade Exports on Economic Development Across 2017-2022: A Case of Industrial Sector of the Philippines
The Industrial sector is essential to innovation, economic development, and job creation, it also significantly influences how economies are shaped internationally and domestically. As such, this study examines the effec...
The Relevance of Spiritual Leadership in Hospitality Organizations in Sanur
Sanur's charm makes it a tourist attraction which is now being transformed for the better with the development of Special Economic Zones which aims to foster new centers of economic growth in Indonesia, as well as encour...