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Bankruptcy Prediction And Its Effect On Stock Prices As Impact Of The COVID-19 Pandemic

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Date
2021-11-09
Author
Kusumawardani, Anisa
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Abstract
Abstract. As COVID-19 pandemic hit the world since early 2020, one business sector in many countries that struggling to survive is tourism and its derivatives, such as restaurants and hotels. This study aims to examine the accuracy of the Springate and Grover models in predicting bankruptcy, as well as the effect on stock prices of tourism, restaurant, and hotel sector in Indonesia. The results show that all sample tourism, restaurant, and hotel companies are bankrupt under the Springate model, whilst according to Grover's model the findings are varied during the study period. Furthermore, the Grover model is implied to be more accurate than the Springate model. The effect of both prediction models on stock price appears dissimilar. Springate's prediction model suggests a positive and significant effect on stock prices, whereas there is no strong evidence about the effect of Grover’s prediction model. Keywords. Bankruptcy Prediction, Springate, Grover, Stock Price, COVID-19
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http://repository.unmul.ac.id/handle/123456789/32642
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Repository Universitas Mulawarman copyright ©   LP3M Universitas Mulawarman
Jalan Kuaro Kotak Pos 1068
Telp. (0541) 741118
Fax. (0541) 747479 - 732870
Samarinda 75119, Kalimantan Timur, Indonesia
Contact Us | Send Feedback