Does the Covid-19 pandemic affect the financial performance of corporations? Empirical evidence from Indonesia

Paranita, Ekayana Sangkasari; MY, Any Siska

doi:10.20525/ijrbs.v11i6.1939

Cited by 4 publications

(8 citation statements)

References 22 publications

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“…This ratio is useful for knowing the number of funds financed by creditors compared to the total equity owned by the company. Previous research concluded that there were significant differences in the Debt to Equity Ratio before and during the Covid-19 pandemic (Esomar & Christianty, 2021;Fatimah et al, 2021;Hilaliyah et al, 2021;Ilahude et al, 2021;Kristanto & Yanto, 2022;Paranita & Siska, 2022;Rahma et al, 2022). Researchers assume that the company's interest expense can have an impact on the return on assets because a small number of assets are financed through debt.…”

Section: Methodsmentioning

confidence: 96%

“…The lower this ratio indicates the lower the company's ability to pay off short-term debt using its current assets. There are a number of studies that have concluded that there was a significant difference in the Current Ratio before and during the Covid-19 pandemic (Fatimah et al, 2021;Hilaliyah et al, 2021;Paranita & Siska, 2022;Sidiq et al, 2022). Researchers think that the company's ability to fulfill current obligations in conditions before and during the pandemic is very different.…”

Section: Methodsmentioning

confidence: 99%

“…Other research with comparative studies of financial performance before and during the Covid-19 pandemic in consumer cyclical sector companies concluded that there were significant differences in solvency, profitability, and activity ratios but there were no differences in market and liquidity ratios (Kristanto & Yanto, 2022). Specifically for companies classified as the LQ-45 Index, there were significant differences in liquidity, solvency, profitability, and activity performance during the Covid-19 pandemic (Fatimah et al, 2021;Paranita & Siska, 2022). Even research with the entire population of companies listed on the Indonesia Stock Exchange also shows that there are significant differences in liquidity, solvency, activity, and profitability performance during the Covid-19 pandemic (Hilaliyah et al, 2021).…”

Section: Introductionmentioning

confidence: 99%

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Financial Performance of Health Service Providers Sub-Industry Companies Before and During the Covid-19 Pandemic

Fiscarina,

Paranita

2023

jamr

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This study aims to analyze differences in financial performance before and during the Covid-19 pandemic based on liquidity, solvency, profitability, and activity ratios. The novelty of this research is a comprehensive analysis of financial performance before the Covid-19 pandemic compared to performance during the Covid-19 pandemic at the beginning of the period, namely 2020 until the second year of the pandemic, namely 2021. The research population is fourteen health service provider sub-industry companies listed on the Indonesia Stock Exchange. Based on the purposive sampling method, nine companies were selected as samples. Data sources are secondary data in the form of balance sheets and income statements. Liquidity performance is measured by the Current Ratio, solvency performance is measured by the Debt to Equity Ratio, profitability performance is measured by Return on Equity, and activity performance is measured by Total Assets Turnover. The analysis technique includes the normality test with the Kolmogorov-Smirnov test and hypothesis testing using the paired sample t-test. The results of the study concluded that there were no significant differences in liquidity, solvency, and activity performance before and during the first and second years of the Covid-19 pandemic. As for the profitability performance, it has been proven that there is a significant difference, namely that the performance during the first and second years of the Covid-19 pandemic was relatively higher than before the Covid-19 pandemic

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Section: Methodsmentioning

confidence: 96%

Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Financial Performance of Health Service Providers Sub-Industry Companies Before and During the Covid-19 Pandemic

Fiscarina,

Paranita

2023

jamr

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“…Other studies scrutinize the financial performance in the specific industry or companies included in an index. The industry includes manufacturing (12), hotel, restaurant, and tourism( 13),( 14), (15), health sector ( 14),( 16), telecommunication services ( 14), pharmaceuticals (17), food and beverages (18), construction by state-owned companies (19), and companies involved in LQ 45 index (20). The results vary depending on the sector's vulnerability to the COVID-19 pandemic.…”

Section: Introductionmentioning

confidence: 99%

Does COVID-19 Affect the Business Sustainability of Mining Industry? Some Indonesian Evidence

Rochmah Ika,

Puspita Sari,

Ana Setianingrum

et al. 2024

KSS

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This study aims to investigate whether COVID-19 affects business sustainability in terms of the economics of the mining industry in Indonesia. Specifically, this article examines whether the economic sustainability of mining companies improved or worsened after the COVID-19 attack on the country. The current research measures economic sustainability using the Altman Z financial distress model and profitability. Using 43 publicly listed companies in the mining industry as a sample, the analysis of the Wilcoxon signed rank test reveals that the Altman Z score increases significantly in the period after the COVID-19 contagion as compared to those before the contagion. Meanwhile, there is no difference in the profitability of the mining industry before and after the COVID-19 contagion. The results suggest that the mining industry remains strong despite the huge effect of the COVID-19 pandemic, which led to a decrease in the coal price due to the large scale social restrictions. The financial performance of the mining industry shows an improvement, as marked by an upward trend in the Altman Z score from 2018 to 2021. The profitability of the mining industry has been stable from 2018 to 2021. This study offers evidence of the mining industry’s financial condition in the Indonesia Stock Exchange (IDX) when COVID-19 attacked Indonesia, at a time when the gold price reached its maximum and the president banned the export of mining products’ raw materials. Keywords: economic sustainability, financial performance, Altman Z-score, financial distress, profitability, COVID-19

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“…Studies concerning the impact of the COVID-19 pandemic on financial performance in pri-vate sector organizations have been widely carried out in several countries, and the results clearly show that the pandemic has an impact on the financial performance of organizations (Nguyen, 2022;Alsamhi et al, 2022;Zhang & Zheng, 2022). Moreover, several studies related to the impact of the pandemic on the private sector were carried out in Indonesia, including by Devi, Warasniasih, Masdiantini, and Musmini (2020), Alviana and Megawati (2021), Esomar and Christianty (2021), Gaisani et al (2021), Thamrin and Ilhami (2021), Lowardi and Abdi (2021), Pratama, Pontoh, and Pinatik (2021); Zulfikri, Lesmana, and Djuanda (2021) also Paranita and Siska (2022).…”

Section: Introductionmentioning

confidence: 99%

Comparative Analysis of Local Government Financial Performance Before and During Covid-19 Pandemic

Rafael

Istianah²

2022

JTAKEN

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The COVID-19 pandemic has had a compelling impact on various sectors in Indonesia, including the national economy. This study aims to examine differences in regional financial performance before the pandemic (2019) and during the pandemic (2020) and to examine the effect of the ranking and status of local government administration published by the Ministry of Home Affairs on regional financial performance in the period before the pandemic (2019) and during the pandemic (2020). Paired sample t-test and regression analysis were used to test the hypotheses on the financial performance of 118 local governments consisting of 16 provincial governments, 48 district governments, and 54 city governments. The regional financial independence ratio (RKKD), the effectiveness and efficiency ratio of PAD, the activity ratio, and the growth ratio are financial performance indicators tested in this research. The research's results show the differences between before and during the COVID-19 pandemic in regional financial performance in the PAD effectiveness ratio, capital expenditure activity ratio, and growth ratio. However, there is no difference in regional financial performance before and during the COVID-19 pandemic as measured by the regional financial independence ratio, efficiency ratio, and operating expenditure activity ratio. The results also show that the ranking and status of local government administration have no effect on regional financial performance before and during the COVID-19 pandemic.

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Does the Covid-19 pandemic affect the financial performance of corporations? Empirical evidence from Indonesia

Cited by 4 publications

References 22 publications

Financial Performance of Health Service Providers Sub-Industry Companies Before and During the Covid-19 Pandemic

Financial Performance of Health Service Providers Sub-Industry Companies Before and During the Covid-19 Pandemic

Does COVID-19 Affect the Business Sustainability of Mining Industry? Some Indonesian Evidence

Comparative Analysis of Local Government Financial Performance Before and During Covid-19 Pandemic

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