Hermeneutical Phenomenology of Corporate Financial Failure in Ungaran District, Bawen, Semarang Regency, Central Java
DOI:
https://doi.org/10.38035/ijam.v1i4.122Keywords:
Financial Failure, Phenomenology, Hermeneutic, Dasein, UnderstandingAbstract
This study uses qualitative methods on companies in Ungaran District, Bawen, Semarang Regency, Central Java with negative equity categories for 2 (two) consecutive years. A company experiencing negative equity or a condition of financial distress is a company's financial position in an unhealthy condition or crisis. Financial distress is a symbol of bankruptcy in accounting. This means that it is not yet or is not legally bankrupt. This research method uses phenomenology and hermeneutics in corporate financial failures to understand the meaning of the experiences of company managers and owners, companies, inter-subjective activities in the hermeneutic process between researchers and people who experience them. Semi-structured and ethnographic interviews, lived experience (Erlebnis), were conducted with eight (8) company research unit objects in Ungaran District, Bawen Regency, Semarang Regency, conducted for approximately 6, consecutive months. The results of this research understand (Verstehen) on the hermeneutic phenomenology of corporate financial failure caused by three things: (1) prejudice, and failure of Gadamer horizon fusion; (2) failure to "understand" Dasein's structure and Heidegger's facticity; (3) failure to understand the essence of Buber's encounter.
References
Angga, Stevanus Aditya Bayu. 2014. Perbandingan Model Prediksi Kebangkrutan Perusahaan Publik (Model Altman, Springate Dan, Ohlson).Universitas Atma Jaya.Yogyakarta.
Apollo.,Beberapa Faktor yang Mempengaruhi Earnings Management serta Penerapannya dalam Penyusunan Laporan Keuangan (studi pada perusahaan umum di Indonesia., Disertasi Program Pascasarjana, Bandung (tidak diterbitkan), Universitas Padjajaran., 2003.
Apollo., Pencarian Ilmu Melalui Pendekatan Ontologi, Epistimologi, Aksiologi, Jakarta: Penerbit Mitra Wacana Media, 2011
Apollo, Filsafat Auditing., Yogjakarta, Penerbit nasmedia. 2022.
Apollo, 2023.,Fenomenologi dan Metode., Yogjakarta, Penerbit nasmedia. 2023.
Altman, Edward I. (1968): Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. In: The Journal of Finance, 22(4), 589-609.
Altman, Edward I, 1992. Corporate Financial Distress and Bankruptcy : A Complete Guide to Prediction and Avoiding Distress and Profiting from
Avianti, Ilya. ”Model Prediksi Kepailitan Emiten di Bursa Efek Jakarta Dengan Menggunakan Indikator-Indikator Keuangan”, Disertasi S-3 Program Pasca Sarjana Universitas Padjadjaran, Bandung, 2000.
Beaver, William H.. Financial Ratios As Predictors of Failure, Journal of Accounting Research, Vol. 4, Empirical Research in Accounting: Selected Studies 1966 (1966), pp. 71-111
Bernstein, Leopold A., John J. Wild. Financial Statement Analysis: Theory, Application, and Interpretation. Sixth edition. McGraw-Hill International, 1998.
Buber, Martin 1937, I and Thou, transl. by Ronald Gregor Smith, Edinburgh: T. and T. Clark. 2nd Edition New York: Scribners, 1958. 1st Scribner Classics ed. New York, NY: Scribner, 2000, c1986
Brigham, Eugene F. and Joel F. Houston. 2006. Fundamentals of Financial Management, 10th edition. Thomson South-Western.
Crowell, S. Galt, 2001, Husserl, Heidegger, and the Space of Meaning: Paths Toward Transcendental Phenomenology, Evanston: Northwestern University Press.
Dambolena, I.G. and Khoury, S.J. (1980) Ratio Stability and Corporate Failure. The Journal of Finance, 35, 1017-1026. https://doi.org/10.1111/j.1540-6261.1980.tb03517.x
Dilthey., Descriptive Psychology and Historical Understanding, R.M. Zaner and K.L. Heiges (trans.), with an introduction by R.A. Makkreel, The Hague: Martinus Nijhof, 1977.
Dilthey’s Philosophy of Existence, W. Kluback and M. Weinbaum (trans.), New York: Bookman Associates, 1957.
Dreyfus, H. L., 1990, Being-in-the-World: A Commentary on Heidegger's Being and Time, Division I, Cambridge, Mass.: MIT Press.
Eugene F. Brigham, Louis C. Gapenski. (1996), Intermediate Financial Management, Fifth Edition
Gadamer Hans-Georg.,1976b, Hegel’s Dialectic: Five Hermeneutical Studies, trans. by P. Christopher Smith (from Gadamer 1971), New Haven: Yale University Press.
Gadamer Hans-Georg.,1976c, Philosophical Hermeneutics, ed. and trans. by David E. Linge, Berkeley: University of California Press; 2nd revised edition published as “30th Anniversary Edition”, 2008.
Gadamer Hans-Georg.,1980, Dialogue and Dialectic: Eight Hermeneutical Studies on Plato, trans. and ed. by P. Christopher Smith, New Haven: Yale University Press.
Gadamer Hans-Georg.,1989b, Truth and Method, 2nd rev. edn. (1st English edn, 1975, trans. by W, Glen-Doepel, ed. by John Cumming and Garret Barden), revised translation by J. Weinsheimer and D.G. Marshall, New York: Crossroad.
Ghodrati, H., & Moghaddam, A. 2012. A Study of the Accuracy of Bankruptcy Prediction Models: Altman, Shirata, Ohlson, Zmijewsky, CA Score, Fulmer, Springate, Farajzadeh Genetic, and McKee Genetic Models for the Companies of the Stock Exchange of Tehran. American Journal of Scientific Research.
Heidegger, M, Being and Time, translated by J. Macquarrie and E. Robinson. Oxford: Basil Blackwell, 1962 (first published in 1927).
Heidegger, The Basic Problems of Phenomenology, translated by A. Hofstadter, Bloomington: Indiana University Press, 1982.
Husserl, E., 1900, Logical Investigations, translated by A.J. Findlay, London: Routledge, 1973.
Husserl, E, 1913, Ideas Pertaining to a Pure Phenomenology and to a Phenomenological Philosophy: General Introduction to a Pure Phenomenology Book 1, translated by F. Kersten, Berlin: Springer, 1983.
Indah, Sayekti. 2005. Analisis Penggunaan Z-Score Altman untuk Menilai Potensi Kebangkrutan Perusahaan Manufaktur di Bursa Efek Jakarta Periode 1995-2002. Skripsi S1 Program Manajemen Universitas Sebelas Maret: Surakarta.
Kant, I., 1781, Critique of Pure Reason, translated by P. Guyer and A. Wood, Cambridge: Cambridge University Press, 1999.
Kartikawati, Sinta. 2007. Analisis Penggunaan Z-Score Altman untuk Memprediksi Tingkat Kebangkrutan Perusahaan yang Go Public di Bursa Efek Jakarta Periode 2001-2006. Tesis S2 Program Manajemen Universitas Gunadarma.
Libby, Robert,. Accounting Ratios and the Prediction of Failure: Some Behavioral Evidence.Journal of Accounting Research.,Vol. 13, No. 1 (Spring, 1975), pp. 150-161 (12 pages)
Makkreel, R.A., 1975, Dilthey: Philosopher of the Human Studies, Princeton, NJ: Princeton University Press; 2nd edition, with afterword, 1992.
Makkreel, R.A. and J.D. Scanlon (eds.), 1987, Dilthey and Phenomenology, Washington, DC: Center for Advanced Research in Phenomenology and University Press of America.
Nelson, E.S. (ed.), 2019, Interpreting Dilthey: Critical Essays, Cambridge: Cambridge University Press.
Ohlson, J.A. (1980) Financial Ratios and the Probabilistic Prediction of Bankruptcy. Journal of Accounting Research, 18, 109-131.http://dx.doi.org/10.2307/2490395
Peter dan Yoseph. 2011 .Analisis Kebangkrutan Dengan Metode Z-Score Altman, Springate Dan Zmijewski Pada Pt. Indofood Sukses Makmur Tbk Periode 2005 – 2009. Jurnal Ilmiah Akuntansi,Nomor 4 Tahun Ke-2 Januari-April 2011.
Ross Stephen A, Westefield Randolph W, Jaffe Jeffrey. 2010, Corporate Finance, Ninth Edition, Mc. Graw Hill
Ross Stephen A, Westefield Randolph W, Jordan Bradford D. 2008, Corporate Finance Fundamentals, Eighth Edition, Mc. Graw-Hill
Satria Perwira, Gunardiansya. 2009. Analisis Metode Z score Altman Untuk Memprediksi Kebangkrutan Industri Baja di BEI. Program Manajemen Universitas Gunadarma.
Sumarno, Zain. 1994. “Failure Prediction : An Artificial Intelligence Approach.” Ghent, Belgium: Ghent University. Faculty of Economics and Applied Economics
Thisca Indriyati, Irma. 2010. Analisis Laporan Keuangan dan Penggunaan Z-Score Altman untuk Memprediksi Tingkat Kebangkrutan Perusahaan Properti yang Terdaftar di Bursa Efek Jakarta Periode 2006-2008. Tesis S2 Program Manajemen Universitas Sebelas Maret: Surakarta.
Apollo.,Beberapa Faktor yang Mempengaruhi Earnings Management serta Penerapannya dalam Penyusunan Laporan Keuangan (studi pada perusahaan umum di Indonesia., Disertasi Program Pascasarjana, Bandung (tidak diterbitkan), Universitas Padjajaran., 2003.
Apollo., Pencarian Ilmu Melalui Pendekatan Ontologi, Epistimologi, Aksiologi, Jakarta: Penerbit Mitra Wacana Media, 2011
Apollo, Filsafat Auditing., Yogjakarta, Penerbit nasmedia. 2022.
Apollo, 2023.,Fenomenologi dan Metode., Yogjakarta, Penerbit nasmedia. 2023.
Altman, Edward I. (1968): Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. In: The Journal of Finance, 22(4), 589-609.
Altman, Edward I, 1992. Corporate Financial Distress and Bankruptcy : A Complete Guide to Prediction and Avoiding Distress and Profiting from
Avianti, Ilya. ”Model Prediksi Kepailitan Emiten di Bursa Efek Jakarta Dengan Menggunakan Indikator-Indikator Keuangan”, Disertasi S-3 Program Pasca Sarjana Universitas Padjadjaran, Bandung, 2000.
Beaver, William H.. Financial Ratios As Predictors of Failure, Journal of Accounting Research, Vol. 4, Empirical Research in Accounting: Selected Studies 1966 (1966), pp. 71-111
Bernstein, Leopold A., John J. Wild. Financial Statement Analysis: Theory, Application, and Interpretation. Sixth edition. McGraw-Hill International, 1998.
Buber, Martin 1937, I and Thou, transl. by Ronald Gregor Smith, Edinburgh: T. and T. Clark. 2nd Edition New York: Scribners, 1958. 1st Scribner Classics ed. New York, NY: Scribner, 2000, c1986
Brigham, Eugene F. and Joel F. Houston. 2006. Fundamentals of Financial Management, 10th edition. Thomson South-Western.
Crowell, S. Galt, 2001, Husserl, Heidegger, and the Space of Meaning: Paths Toward Transcendental Phenomenology, Evanston: Northwestern University Press.
Dambolena, I.G. and Khoury, S.J. (1980) Ratio Stability and Corporate Failure. The Journal of Finance, 35, 1017-1026. https://doi.org/10.1111/j.1540-6261.1980.tb03517.x
Dilthey., Descriptive Psychology and Historical Understanding, R.M. Zaner and K.L. Heiges (trans.), with an introduction by R.A. Makkreel, The Hague: Martinus Nijhof, 1977.
Dilthey’s Philosophy of Existence, W. Kluback and M. Weinbaum (trans.), New York: Bookman Associates, 1957.
Dreyfus, H. L., 1990, Being-in-the-World: A Commentary on Heidegger's Being and Time, Division I, Cambridge, Mass.: MIT Press.
Eugene F. Brigham, Louis C. Gapenski. (1996), Intermediate Financial Management, Fifth Edition
Gadamer Hans-Georg.,1976b, Hegel’s Dialectic: Five Hermeneutical Studies, trans. by P. Christopher Smith (from Gadamer 1971), New Haven: Yale University Press.
Gadamer Hans-Georg.,1976c, Philosophical Hermeneutics, ed. and trans. by David E. Linge, Berkeley: University of California Press; 2nd revised edition published as “30th Anniversary Edition”, 2008.
Gadamer Hans-Georg.,1980, Dialogue and Dialectic: Eight Hermeneutical Studies on Plato, trans. and ed. by P. Christopher Smith, New Haven: Yale University Press.
Gadamer Hans-Georg.,1989b, Truth and Method, 2nd rev. edn. (1st English edn, 1975, trans. by W, Glen-Doepel, ed. by John Cumming and Garret Barden), revised translation by J. Weinsheimer and D.G. Marshall, New York: Crossroad.
Ghodrati, H., & Moghaddam, A. 2012. A Study of the Accuracy of Bankruptcy Prediction Models: Altman, Shirata, Ohlson, Zmijewsky, CA Score, Fulmer, Springate, Farajzadeh Genetic, and McKee Genetic Models for the Companies of the Stock Exchange of Tehran. American Journal of Scientific Research.
Heidegger, M, Being and Time, translated by J. Macquarrie and E. Robinson. Oxford: Basil Blackwell, 1962 (first published in 1927).
Heidegger, The Basic Problems of Phenomenology, translated by A. Hofstadter, Bloomington: Indiana University Press, 1982.
Husserl, E., 1900, Logical Investigations, translated by A.J. Findlay, London: Routledge, 1973.
Husserl, E, 1913, Ideas Pertaining to a Pure Phenomenology and to a Phenomenological Philosophy: General Introduction to a Pure Phenomenology Book 1, translated by F. Kersten, Berlin: Springer, 1983.
Indah, Sayekti. 2005. Analisis Penggunaan Z-Score Altman untuk Menilai Potensi Kebangkrutan Perusahaan Manufaktur di Bursa Efek Jakarta Periode 1995-2002. Skripsi S1 Program Manajemen Universitas Sebelas Maret: Surakarta.
Kant, I., 1781, Critique of Pure Reason, translated by P. Guyer and A. Wood, Cambridge: Cambridge University Press, 1999.
Kartikawati, Sinta. 2007. Analisis Penggunaan Z-Score Altman untuk Memprediksi Tingkat Kebangkrutan Perusahaan yang Go Public di Bursa Efek Jakarta Periode 2001-2006. Tesis S2 Program Manajemen Universitas Gunadarma.
Libby, Robert,. Accounting Ratios and the Prediction of Failure: Some Behavioral Evidence.Journal of Accounting Research.,Vol. 13, No. 1 (Spring, 1975), pp. 150-161 (12 pages)
Makkreel, R.A., 1975, Dilthey: Philosopher of the Human Studies, Princeton, NJ: Princeton University Press; 2nd edition, with afterword, 1992.
Makkreel, R.A. and J.D. Scanlon (eds.), 1987, Dilthey and Phenomenology, Washington, DC: Center for Advanced Research in Phenomenology and University Press of America.
Nelson, E.S. (ed.), 2019, Interpreting Dilthey: Critical Essays, Cambridge: Cambridge University Press.
Ohlson, J.A. (1980) Financial Ratios and the Probabilistic Prediction of Bankruptcy. Journal of Accounting Research, 18, 109-131.http://dx.doi.org/10.2307/2490395
Peter dan Yoseph. 2011 .Analisis Kebangkrutan Dengan Metode Z-Score Altman, Springate Dan Zmijewski Pada Pt. Indofood Sukses Makmur Tbk Periode 2005 – 2009. Jurnal Ilmiah Akuntansi,Nomor 4 Tahun Ke-2 Januari-April 2011.
Ross Stephen A, Westefield Randolph W, Jaffe Jeffrey. 2010, Corporate Finance, Ninth Edition, Mc. Graw Hill
Ross Stephen A, Westefield Randolph W, Jordan Bradford D. 2008, Corporate Finance Fundamentals, Eighth Edition, Mc. Graw-Hill
Satria Perwira, Gunardiansya. 2009. Analisis Metode Z score Altman Untuk Memprediksi Kebangkrutan Industri Baja di BEI. Program Manajemen Universitas Gunadarma.
Sumarno, Zain. 1994. “Failure Prediction : An Artificial Intelligence Approach.” Ghent, Belgium: Ghent University. Faculty of Economics and Applied Economics
Thisca Indriyati, Irma. 2010. Analisis Laporan Keuangan dan Penggunaan Z-Score Altman untuk Memprediksi Tingkat Kebangkrutan Perusahaan Properti yang Terdaftar di Bursa Efek Jakarta Periode 2006-2008. Tesis S2 Program Manajemen Universitas Sebelas Maret: Surakarta.
Downloads
Published
2023-01-26
How to Cite
Apollo, A. (2023). Hermeneutical Phenomenology of Corporate Financial Failure in Ungaran District, Bawen, Semarang Regency, Central Java. International Journal of Advanced Multidisciplinary, 1(4), 276–286. https://doi.org/10.38035/ijam.v1i4.122
Issue
Section
Articles
License
Authors who publish their manuscripts in this journal agree to the following conditions:
- The copyright on each article belongs to the author(s).
- The author acknowledges that the International Journal of Advanced Multidisciplinary (IJAM) has the right to be the first to publish with a Creative Commons Attribution 4.0 International license (Attribution 4.0 International (CC BY 4.0).
- Authors can submit articles separately, arrange for the non-exclusive distribution of manuscripts that have been published in this journal into other versions (e.g., sent to the author's institutional repository, publication into books, etc.), by acknowledging that the manuscript has been published for the first time in the International Journal of Advanced Multidisciplinary (IJAM).
