The Impact of Covid-19 Pandemic on Financial Performance of Companies Go Public in Indonesia

RR Wulan Indri Widiar (1), Suhita Whini Setyahuni (2)
(1) UPGRIS, Indonesia,
(2) Universitas Dian Nuswantoro, Indonesia
https://doi.org/10.30651/blc.v20i2.17718

Artikel Sidebar

Terbitan
Vol 20 No 2 (2023): Juli
Kata Kunci:
    COVID-19 outbreak, firms perfomances, financial perfomances, financial ratios, Institutional theory.
PDF (English)

Abstrak

This study aims to investigate the difference of financial performances public companies in Indonesia before the COVID-19 outbreak and during the pandemic in 2019 and 2020. This study used 136 public listed firms in Indonesia in 2019 and 2020. The data were tested using one sample paired t-test. The findings shows that there was significant difference on the average revenue and ROA before the COVID-19 outbreak and during the outbreak in 2019 and 2020. The total revenue and ROA were significantly decreased during the pandemic. This study gives a new perspective on the measurement of financial performances during the COVID-19. This study also provides empirical evidence on the financial performances during the COVID-19 outbreak from institutional theory perspective.

Artikel teks lengkap

##article.generated_from_xml##

Referensi

Amalia, N., Budiwati, H., & Indiana, S. (2021). Analisis Perbandingan Kinerja Keuangan Perusahaan Transportasi Sebelum Dan Saat Pandemi Covid-19. Emba, 9(3), 341–354.

Atayah, O. F., & Frederico, G. F. (2021). Impact of COVID-19 on fi nancial performance of logistics fi rms : evidence from G-20 countries. https://doi.org/10.1108/JGOSS-03-2021-0028

Brigham, E. F., & Houston, J. F. (2018). Fundamentals of Financial Management. In The Journal of Finance (Vol. 34). https://doi.org/10.2307/2327254

De Jonge, A. (2015). Understanding attitudes towards gender diversity and affirmative action in China and India. In The Glass Ceiling in Chinese and Indian Boardrooms (pp. 119–138). https://doi.org/10.1016/b978-1-84334-617-3.00007-7

Devi, S., Warasniasih, N. M. S., & Masdiantini, P. R. (2020). The Impact of COVID-19 Pandemic on the Financial Performance of Firms on the Indonesia Stock Exchange. Journal of Economics, Business, & Accountancy Ventura, 23(2). https://doi.org/10.14414/jebav.v23i2.2313

Hofer, C. W. (1980). Turnaround Strategies. The Journal of Business Strategy, 19–31.

Hu, S., & Zhang, Y. (2021). COVID-19 pandemic and firm performance: Cross-country evidence. International Review of Economics and Finance, 74(2020), 365–372. https://doi.org/10.1016/j.iref.2021.03.016

Huu, H., Minh, V., Nguyen, A., & Tran, T. (2021). Research in International Business and Finance Financial performances , entrepreneurial factors and coping strategy to survive in the COVID-19 pandemic : case of Vietnam. Research in International Business and Finance, 56(December 2020), 101380. https://doi.org/10.1016/j.ribaf.2021.101380

Le, D., Anh, T., & Gan, C. (2020). The impact of the COVID-19 lockdown on stock market performance : evidence from Vietnam. https://doi.org/10.1108/JES-06-2020-0312

Powell, W. W., & DiMaggio, P. J. (1991). The New Institutionalism in Organizational Analysis (1st ed.). Chicago: University Of Chicago Press.

Ramya, S. M., & Baral, R. (2021). CSR during COVID-19: exploring select organizations’ intents and activities. Corporate Governance (Bingley), 21(6), 1028–1042. https://doi.org/10.1108/CG-09-2020-0426

Shen, H., Fu, M., Pan, H., Yu, Z., & Chen, Y. (2020). The Impact of the COVID-19 Pandemic on Firm Performance. Emerging Markets Finance and Trade, 56(10), 2213–2230. https://doi.org/10.1080/1540496X.2020.1785863

Xiong, H., Wu, Z., Hou, F., & Zhang, J. (2020). Which Firm-specific Characteristics Affect the Market Reaction of Chinese Listed Companies to the COVID-19 Pandemic? Emerging Markets Finance and Trade, 56(10), 2231–2242. https://doi.org/10.1080/1540496X.2020.1787151

Yi, X., Bai, C., Lyu, S., & Dai, L. (2021). Declarations of interest : none Name : Caiquan Bai Highlights : Finance Research Letters, 101948. https://doi.org/10.1016/j.frl.2021.101948

Penulis

RR Wulan Indri Widiar
UPGRIS
w.wulanindri@yahoo.com (Kontak utama)
Suhita Whini Setyahuni
Universitas Dian Nuswantoro
##submission.license.notAvailable##

Rincian Artikel

No Related Submission Found