THE MOST-VALUABLE-MODEL IS AWARDED TO...? FORETELLING THE FINANCIAL INSOLVENCY IN THE CONSTRUCTION BUSINESS

This research seeks to accomplish two goals: identify a statistical difference between the three financial distress models—Altman, Zmijewski, and Springate—and describe which model proves be "Most-Valuable-Predictor" in terms of accuracy with it can predict insolvency conditions state-owned enterprises Indonesia's construction industry. In this study, purposive sampling approach was used select study's objects. With aid documentation techniques, data samples were gathered put through test analysis. paper found significant calculations Altman, Springate models predicting difficulty SOE’s sector. The most accurate forecast for industry's problems came from Zmijewski model. influential contribution study is that helps investors understand risks before making an investment