Analisis Financial Distress Pada Perusahaan yang Terkena Isu Boikot Menggunakan Model Grover

Ichsan Rifki Iswana; Ratna Anggraini Aripratiwi

doi:10.54443/sinomika.v3i4.2404

Authors

Ichsan Rifki Iswana Universitas Islam Negeri Sunan Ampel Surabaya, Indonesia
Ratna Anggraini Aripratiwi Universitas Islam Negeri Sunan Ampel Surabaya, Indonesia

DOI:

https://doi.org/10.54443/sinomika.v3i4.2404

Keywords:

Boycott, Financial distress, MUI Fatwa No.83 of 2023

Abstract

The issuance of MUI Fatwa No.83 of 2023 decided that supporting the struggle for Palestinian independence against Israeli aggression is obligatory. This support includes zakat, infaq and alms for the benefit of the Palestinian people's struggle. And a recommendation was issued as well as an appeal to Muslims to avoid transactions and use of products affiliated with Israel. Boycott actions that impact company finances can cause companies to experience financial distress. Therefore, researchers will conduct a financial distress analysis on 3 companies affected by the boycott issue. By using secondary data where financial reports and annual reports published by the IDX are the material in this research and by using the Grover Model as a tool for prediction. The results of the financial distress analysis using the Grover model as a predictor were 3 companies that were deemed capable of surviving enough to not experience financial distress, namely PT Unilever Indonesia Tbk, PT Mitra Adiperkasa Tbk, and PT MAP Boga Adiperkasa Tbk., then there were 2 companies identified as experiencing financial distress in 2023, namely PT Sarimelati Kencana Tbk and PT Fast Food Indonesia Tbk. With these results, the hypothesis is declared completely rejected. This is reflected in the results of the Grover model analysis, where the two companies experiencing financial distress have experienced poor financial performance due to Covid-19.

Downloads

Download data is not yet available.

References

Arianty, N., & Andira, A. (2021). Pengaruh Brand Image dan Brand Awareness Terhadap Keputusan Pembelian. Maneggio: Jurnal Ilmiah Magister Manajemen, 4(1), 39–50. https://doi.org/10.30596/maneggio.v4i1.6766

Cindi, Z., & Armutlulu, I. H. (2021). A revision of Altman Z-Score model and a comparative analysis of Turkish companies’ financial distress prediction. National Accounting Review, 3(2), 237–255. https://doi.org/10.3934/nar.2021012

Fitriaty, Salsandra Jihan1, M. H. S. (2015). Respon investor terhadap fatwa MUI no.83/2023 pada saham perusahaan terkena isu boikot. Ilmumanajemen, 4(93), 366– 378.

Hananto, P. (2014). Opinion Leader versus New Opinion Leader dalam Komunikasi Pemasaran (Studi Kasus Selebtwit di Twitter untuk Komunikasi Pemasaran). Jurnal Ilmu Komunikasi, 3(2), 140–153.

Hirawati, H. (2017). Analisis Prediksi Financial Distress Berdasarkan Model Analysis Of Altman And Grover Financial Distress Prediction Model On Manufacturing Company Listed In Indonesia Stock Exchange. Riset Ekonomi Manajemen, 0668. http://jurnal.untidar.ac.id

Madanika Kusumaningrum, T. (2021). Perbandingan Tingkat Akurasi Model-Model Prediksi Financial Distress Pada Perusahaan yang Termasuk Kantar’s 2020 Top 30 Global Retails (EUR). Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi), 5(3), 1309–1327.

Matondang, R. S., & Nasution, A. I. L. (2024). The Impact of the Boycott on the Fall on Stock Price of PT. Unilever. Al-Mashrafiyah, 8(1), 41–54. www.finance.Yahoo.com

Michael Spence. (1973). Job Market Signaling Author ( s ): Michael Spence Published by: Oxford University Press Stable URL : https://www.jstor.org/stable/1882010. The Quarterly Journal of Economics, 87(3), 355–374.

MUI. (2023). Fatwa MUI Nomor 83 Tahun 2023 tentang Hukum Dukungan Terhadap Perjuangan Palestina. Mui, 1.

Niluh Kurnia Dewi Pratami, N. D., Triansari, N. T., & Rahutama Atidira, R. A. (2020).

Pengaruh Kualitas Produk Dan Citra Merek Terhadap Keputusan Pembelian Sepeda Motor Honda Scoopy Pada Pt. Mertha Buana Motor Singaraja. Prospek: Jurnal Manajemen Dan Bisnis, 2(1), 31. https://doi.org/10.23887/pjmb.v2i1.26187

Prasetianingtias, E., & Kusumowati, D. (2019). Analisis Perbandingan Model Altman, Grover, Zmijewski Dan Springate Sebagai Prediksi Financial Distress. Jurnal Akuntansi Dan Perpajakan, 5(1), 1–3. https://doi.org/10.26905/ap.v5i1.3072

Rohani, S. (2023). PENGARUH DANA PIHAK KETIGA, CAPITAL ADEQUACY RATIO (CAR), NON PERFORMING FINANCING (NPF) DAN RASIO BIAYA OPERASIONAL PENDAPATAN OPERASI (BOPO) TERHADAP LIKUIDITAS PADA BANK UMUM SYARIAH (BUS) PERIODE 2018-2022. In Angewandte Chemie International Edition, 6(11), 951–952. (Vol. 1, Issue 0).

Sugiyono, P. lestari. (2021). Buku Metode Penelitian Komunikasi.

Theodorus, S., & Artini, L. G. S. (2018). Studi Financial Distress Pada Perusahaan Perbankan Di Bei. E-Jurnal Manajemen Universitas Udayana, 7(5), 2710. https://doi.org/10.24843/ejmunud.2018.v07.i05.p16

Triatmaja, N. A., Niqrisah, Y., Pratiwi, D., Sulistiyowati, A., & Wulandari, A. (2024). PENGARUH STRUKTUR MODAL , UKURAN PERUSAHAAN DAN PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI. 12(01), 177–185.

VOA. (2023). Sejarah Konflik Israel-Palestina selama 100 Tahun Lebih. VOA Indonesia. https://www.voaindonesia.com/a/sejarah-konflik-israel-palestina-selama-100- tahun-lebih-/7305372.html

Zaman, J. S. (2017). Analisis Pengaruh Brand Image Corporate Terhadap Keputusan Pembelian Pada Planet Komputer Tasikmalaya. 2(1), 2527–6247.