ESTIMASI PROBABILITAS DEFAULT PERUSAHAAN DAN HUBUNGANNYA DENGAN RASIO KEUANGAN

Abstract

Default probability information is very important for investor and creditor. By using Merton’s Model the result show some large company have high default probability, especially Bakrie and Brothers subsidiaries. The result panel regression shows that liquidity ratio (ctio (debt to asset ratio) are the most iash to current asset ratio) and solvency ramportant ratio to explain default probability. Profitability ratio (net profit margin ratio) also can be good measure to predict Merton’s default probability. This result shows that accounting information is still useful for investor and creditor to predict credit default.