| dc.description.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 | en_US |
