Comparative Analysis of Financial Performance Before and During the Covid-19 Pandemic Period 2018-2021 (Subsector Automotive and Component Companies Listed on Idx)
1Linda Ayu Ningrum, 2Saryadi,3Dinalestari Purbawati
1,2,3Departemen Administrasi Bisnis, FISIP, Universitas Diponegoro
https://doi.org/10.47191/jefms/v5-i12-27ABSTRACT:
Covid-19 pandemic triggered a massive turmoil in uncertainty and big impact on health care, mobility, social activities and economic growth. That low economic growth lead business activities of companies in transformation. This study aims to observe the differences in financial performance of automotive and component companies listed on Indonesia Stock Exchange before and during Covid-19 pandemic 2018-2021 period. The population used is automotive and component companies listed on Indonesia Stock Exchange, determined based on the purposive sampling method with the criteria which is companies have been publishing their financial statement and annual report until 2021, resulting 10 companies as research samples. Research type in this study is event study. Secondary data used as sourced data. Analysis method of data using descriptive test and wilcoxon signed ranked test, with a software SPSS ver 26. The result shows there were no significant difference in the liquidity measured by current ratio, along with profitability measured by return on asset, return on equity and net profit margin in the automotive and component companies between before and during pandemic period. Meanwhile, companies’ activity measured by receivable turnover and total asset turnover have significant difference between before and during pandemic period.
KEYWORDS:
Covid-19 Pandemic, Financial Performance, Liquidity, Profitability, Activity
REFERENCES:
1) Anwar, M. (2019). Dasar-Dasar Manajemen Keuangan Perusahaan (1st ed.). Penerbit Kencana.
2) Baker, S., Bloom, N., Davis, S., & Terry, S. (2020). COVID-Induced Economic Uncertainty. National Bureau of Economic Research, 17. http://www.nber.org/papers/w26983
3) BPS. (2020). Pertumbuhan Ekonomi Triwulan II 2020. https://www.bps.go.id/website/images/Pertumbuhan-Ekonomi-TW-II-2020-ind.jpg
4) Ediningsih, S. I., & Satmoko, A. (2021). the Impact of the Covid-19 Pandemic on the Financial Performance of Pharmaceutical Companies Listed on Indonesia Stock Exchange. Russian Journal of Agricultural and Socio-Economic Sciences, 119(11), 3–10. https://doi.org/10.18551/rjoas.2021-11.01
5) Hery. (2016). Analisis Laporan Keuangan (Adipramono (ed.); V). Penerbit Grasindo.
6) Horne, J. C. Van, & Wachowicz, J. . (2009). Fundamentals of Financial Management (13th ed.). Prentice-Hall Inc.
7) 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
8) Ikatan Akuntansi Indonesia. (2019). CAFB IAI - Modul Akuntansi Keuangan (pp. 1–384).
9) Ilahude, A. P., Maramis, B. J., & Untu, N. V. (2021). Analisis Kinerja Keuangan Sebelum dan Saat Masa Pandemi Covid-19 pada Perusahaan Telekomunikasi yang Terdaftar di BEI. Jurnal EMBA, 9(4), 1144–1152.
10) Jogiyanto, H. (2018). Strategi Penelitian Bisnis (XV). Penerbit Andi.
11) Kasmir. (2018). Analisis Laporan Keuangan (Cetakan 11). Rajawali Pers.
12) Kurniawan, R. (2020). Dampak Panjang Pandemi terhadap Industri Otomotif. Kompas.Com.
https://otomotif.kompas.com/read/2020/06/05/080200915/dampak-panjang-pandemi-terhadap-industri-otomotif
13) Kustinah, S. (2021). Kinerja Keuangan Perusahaan Di Bursa Efek Indonesia Selama Masa Pandemi Covid-19. Komitmen: Jurnal Ilmiah Manajemen, 2(2), 83–101. https://doi.org/10.15575/jim.v2i2.16880
14) Roosdiana. (2020). Dampak Pandemi Covid-19 terhadap Kinerja Perusahaan Property dan Real Estate yang terdaftar di BEI. Jurnal IKRA-ITH Ekonomika, 4(2), 133–141.
15) Sukirno, D. S. (2003). Event Study Sebuah Pendekatan Dalam Penelitian Akuntansi. In Majalah Informasi (Nomor 01 Tahun 31) (pp. 102–115).
