The Impact of COVID-19 Pandemic on the Financial Performance of Firms on the Indonesia Stock Exchange

The COVID-19 pandemic has harmed the national economy and caused a decline in various businesses' financial performance. This study aims to examine the impact of the COVID-19 pandemic on firms' financial performance listed on the Indonesia Stock Exchange. The research samples included 214 companies, which were divided proportionally into nine sectors or 49 sub-sectors. Data analysis used was the Wilcoxon Signed Rank Test. The results show an increase in the leverage ratio and short-term activity ratio but a decrease in the public companies' liquidity ratio and profitability ratio during the COVID-19 pandemic. There was no significant difference in the liquidity ratio and leverage ratio. However, the public companies' profitability ratio and short-term activity ratio differed significantly between before and during the COVID-19 pandemic. The sector that experienced an increase in liquidity ratio, profitability ratio, and short-term activity ratio but a decrease in the leverage ratio was the consumer goods sector. In contrast, the sectors experiencing a decrease in the liquidity and profitability ratios were property, real estate and building construction, finance, trade, services, and investment sectors.

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The impact of demonetization on Indian firms’ performance: does company’s age make a difference?

Investment Management and Financial Innovations ◽

10.21511/imfi.15(3).2018.06 ◽

2018 ◽

Vol 15 (3) ◽

pp. 71-82

Author(s):

Waleed M. Al-ahdal ◽

Najib H.S. Farhan ◽

Mosab I. Tabash ◽

T. Prusty

Keyword(s):

Financial Performance ◽

Stock Exchange ◽

Nonparametric Test ◽

Rank Test ◽

Significant Difference ◽

Before And After ◽

Signed Rank Test ◽

Financial Consultants ◽

Level Of Significance ◽

The Impact

The main aim of this paper is to evaluate the impact of demonetization on Indian firm’s quarterly financial performance before and after demonetization period (March-December, 2017), and to find out if companies’ age helps to face financial disruption. Four variables, which are net sales, total income, net profit after tax, and earnings per share, were taken as proxies for analyzing the quarterly financial performance of 2,892 companies listed on Bombay Stock Exchange (BSE), National Stock Exchange (NSE), and Calcutta Stock Exchange (CSE). Nonparametric test, particularly Wilcoxon Matched-Pairs Signed Rank Test and Kruskal-Wallis one-way analysis of variance, were applied in analyzing the data. Results reveal that there is a statistically significant difference between the financial performance before and after demonetization at 5% level of significance. It was also found that the decrease/increase in the financial performance of all the firms was affected by the demonetization process, irrespective of their ages. The findings could be useful for financial managers and financial consultants, as they would be able to focus on the issues that matter most at the time of financial disruption.

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PERBEDAAN FINANCIAL PERFORMANCE PASCA SECONDARY OFFERINGS

Wahana ◽

10.35591/whn.v22i1.148 ◽

2019 ◽

Vol 22 (1) ◽

pp. 41-49

Author(s):

Djaja Perdana ◽

Herbowo Herbowo

Keyword(s):

Financial Performance ◽

Stock Exchange ◽

Hypothesis Test ◽

Poor Performance ◽

Rank Test ◽

Growth Ratio ◽

Significant Difference ◽

Before And After ◽

Signed Rank Test ◽

Asset Turnover

This study aims to examine the differences in corporate financial performance before and after secondary offerings. The financial performance is proxied by WCR, DER, Solvency, ROA, ROE, Asset Turnover (ATO) and Growth ratio which representing the value of liquidity, financing, activity, performance and growth of the firm. The study involved 67 samples of the companies listed on the Indonesia Stock Exchange conducting secondary offerings during 2008-2013 period and selected through purposive random sampling method and using Financial Statement data from 2005-2016 period. Hypothesis test is performed using Wilcoxon Signed Rank test. The results of this study indicate that there is no significant difference in the ratio of Solvency, ROA and ROE between before and after secondary offerings, but there are significant differences in the ratio of WCR, DER, Asset Turnover and Growth. WCR ratio after secondary offerings increased, while DER ratio after secondary offerings decreased, the condition of both ratios showed better performance. While the indication of poor performance seen in decreasing asset turnover ratio and growth ratio.Keywords : agency theory, financial performance, secondary offerings

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Financial Ratio Analysis to Assess Financial Performance of the Hotel Industry

International Journal of Social Science and Business ◽

10.23887/ijssb.v5i3.37003 ◽

2021 ◽

Vol 5 (3) ◽

pp. 346

Author(s):

Tjeng Gloria Santoso ◽

Supatmi Supatmi

Keyword(s):

Financial Performance ◽

Activity Ratio ◽

Stock Exchange ◽

Research Result ◽

Hotel Industry ◽

Analysis Tool ◽

Current Ratio ◽

Financial Ratio ◽

Leverage Ratio ◽

Hotel Performance

Analysis of financial performance can be implemented to all companies, including to hotel industries. For the last few years, there are many issues that income of hotel industry increases because of the soaring numbers of foreign and domestic tourists in Indonesia. This study aims to analyze financial ratio to assess the financial performance of hotel industry in 2015-2018. Research sample were 12 companies of 35 hotel industries that were listed in Indonesian Stock Exchange in 2015-2018. Analysis tool used in this research were liquidity ratio, profitability ratio, activity ratio, leverage ratio, and operational ratio. Research result showed good ratios; they were liquidity ratio that was indicated by current ratio, profitability ratio that was pointed by net profit margin, return on asset, and return on equity, also paid occupancy percentage on activity ratio. While the not good ratio, which was activity ratio was pointed by total asset turnover, then leverage ratio by equity multiplier, debt to asset ratio, and debt to equity ratio, also operational ratio which was showed through average room rate and food and beverage cost. Research result of hotel performance in 2015-2018 which is based on financial ratio, they are liquidity, activity, profitability, leverage, and operational, describes that hotel performance is fluctuated. Generally seen, a good ratio in this study is the liquidity ratio that is pointed by current ratio, then profitability ratio that are demonstrated by NPM, ROA, and ROE, also paid occupancy percentage in activity ratio.

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Analisis Perbandingan Kinerja Keuangan Bank Umum BUMN Dan Bank Umum Swasta Yang Terdaftar Di Bursa Efek Indonesia Tahun 2011 - 2015

JRB-Jurnal Riset Bisnis ◽

10.35592/jrb.v1i1.7 ◽

2019 ◽

Vol 1 (1) ◽

pp. 27-40

Author(s):

Hotman Fredy ◽

Yetty Murni ◽

Muhidin

Keyword(s):

Financial Performance ◽

Stock Exchange ◽

Sample Selection ◽

Rank Test ◽

Private Bank ◽

Signed Rank ◽

Significant Difference ◽

Private Banks ◽

Signed Rank Test ◽

The Government

The purpose of this research is to determine whether there are significant differences in the CAR, NPL, ROA, ROE, NIM, BOPO, and LDR between government bank compared to private banks in Indonesia Stock Exchange (IDX) the periode of 2011-2015. Method of sample selection was done by purposive sampling, the samples obtained from government banks such as BNI, BRI, BTN, and Mandiri bank, while from private banks such as BCA, CIMB Niaga, Danamon, and Permata bank. Data analysis methods is hypothesis testing using two different test mean (paired sample t-test) and wilcoxon signed rank test. The results showed that the financial performance of the ratio for CAR, NPL, ROA, NIM, BOPO, and LDR there is no significant difference between the government banks and private bank. While the financial performance of the ROE ratio there are significant differences between the government banks and private banks

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KAJIAN ATAS FAKTOR-FAKTOR YANG MEMPENGARUHI PENGUNGKAPAN LINGKUNGAN (ENVIRONMENTAL DISCLOSURE) PADA PERUSAHAAN PUBLIK DI BEJ PADA TAHUN 2004 - 2005

Media Riset Akuntansi Auditing & Informasi ◽

10.25105/mraai.v7i2.973 ◽

2007 ◽

Vol 7 (2) ◽

pp. 107 ◽

Cited By ~ 1

Author(s):

Bambang Sudaryono

Keyword(s):

Data Analysis ◽

Earnings Management ◽

Sampling Method ◽

Stock Exchange ◽

Analysis Method ◽

Environmental Disclosure ◽

Public Companies ◽

The Public ◽

The Impact ◽

Research Show

The aim of this research is to analyze the factors that impact the public companies' enviromental disclosure and also to analyze the impact of corporate (company's size, age, ROA and earnings management) on coprporate disclosure (mandatory and voluntary). Data are obtained from 60 companies, which are listed on Jakarta Stock Exchange, and selected based on the purposive sampling method. The data analysis method is used the path analysis. The result of this research show that on the significant rate of 5%, the company's size, ROA, earnings management and corporate disclosure have a significant effect to environmental disclosure. While for the company's age and financial leverage have no significant effect to the environmental disclosure.Keywords: Enviromental disclosure, company's size, company's age, ROA and coprporate disclosure.

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Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Perusahaan Sektor Jasa di BEI

JKBM (JURNAL KONSEP BISNIS DAN MANAJEMEN) ◽

10.31289/jkbm.v7i2.5266 ◽

2021 ◽

Vol 7 (2) ◽

pp. 227-233

Author(s):

Maria J F Esomar ◽

Restia Christianty

Keyword(s):

Financial Performance ◽

Hypothesis Testing ◽

Sampling Method ◽

Stock Exchange ◽

Paired Sample ◽

Empirical Results ◽

Significant Difference ◽

Before And After ◽

The Impact ◽

Profitability Ratios

The Covid-19 pandemic has caused many hotels, restaurants and tourism activities to be temporarily closed. It has an impact on the financial performance towards the companies engaged in this sub-sector. The objective of this study is to analyze the impact of Covid 19 towards the financial performance of companies engaged in the sub-sector of hotel, restaurant and tourism. Financial performance is measured using several ratios, namely liquidity ratios, solvability ratios, profitability ratios and market ratio. The ype of research is descriptive quantitave. The population in this study is 35 all companies in the sub-sector of hotel, restaurant and tourism listed on the Indonesia Stock Exchange in 2019-2020 period. Samples are collected from 30 companies using purposive sampling method. Hypothesis testing is conducted using the Paired Sample t-Test. The empirical results show that, in the liquidity ratio, and market ratio there is no significant difference between the periods of before and after the first recorded Covid-19 case in Indonesia. Meanwhile, in the solvability ratio and profitability ratio, there are significant differences between the two periods.

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PERBEDAAN FINANCIAL PERFORMANCE PASCA SECONDARY OFFERINGS

Wahana ◽

10.35591/wahana.v22i1.148 ◽

2019 ◽

Vol 22 (1) ◽

pp. 41-49

Author(s):

Djaja Perdana ◽

Herbowo Herbowo

Keyword(s):

Financial Performance ◽

Stock Exchange ◽

Hypothesis Test ◽

Poor Performance ◽

Rank Test ◽

Growth Ratio ◽

Significant Difference ◽

Before And After ◽

Signed Rank Test ◽

Asset Turnover

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Analysing the Impact of Financial Ratios on a Company’s Financial Performance

International Journal of Management Excellence ◽

10.17722/ijme.v13i1.1093 ◽

2019 ◽

Vol 13 (1) ◽

pp. 1898-1903

Author(s):

Harendra Nishantha Kariyawasam

Keyword(s):

Financial Performance ◽

Firm Size ◽

Stock Exchange ◽

Panel Data Analysis ◽

Financial Ratios ◽

Current Ratio ◽

Cross Sectional ◽

Leverage Ratio ◽

Sectional Analysis ◽

The Impact

This study was conducted to analyze the relationship between several chosen financial ratios and the financial performance of companies. Chosen financial indicators were Current Ratio, EPS, Firm size, Leverage Ratio and BV/MV Ratio. Financial performance of the companies was assessed through growth of the net profit margin. Ten companies which were registered in Colombo Stock Exchange which were categorized as diversified holdings were chosen as the sample. Financial data from 2013-2018 were considered for this study. A panel data analysis was used to determine the relationships between the independent variables and the dependent variables with given consideration to time series analysis and cross sectional analysis. According to the results of the study only current ratio, leverage and the firm size had significant relationships with the financial performance of the company. Current ratio and firm size positively impacted the company’s profitability, where as leverage impacted negatively. This study aims to enable informed decision making of the financial actors of an organization to enhance the profitability of the given organization.

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Impact of Merger and Acquisition on Financial Performance: Evidence from Construction and Real Estate Industry of India

FIIB Business Review ◽

10.1177/23197145211053400 ◽

2021 ◽

pp. 231971452110534

Author(s):

Isha Gupta ◽

T. V. Raman ◽

Naliniprava Tripathy

Keyword(s):

Real Estate ◽

Financial Performance ◽

Real Estate Industry ◽

Leverage Ratio ◽

Turnover Ratio ◽

Test Methodology ◽

Significant Difference ◽

Current Asset ◽

Asset Turnover ◽

The Impact

This article aims to examine the impact of mergers and acquisitions (M&A) on the financial performance of the construction and real estate industry, using the broad spectrum of financial ratios. The period of study is from 2011 to 2020, and paired t-test methodology has been used. It is hypothesized that there is a significant difference in the pre-M&A period and post-M&A period. The study findings conclude that profitability ratio and liquidity ratio have improved significantly, whereas leverage ratio exhibits no change in performance. In the efficiency ratio, the fixed-assets turnover ratio substantially improves, but the total asset turnover ratio and current asset turnover ratio show a slight improvement. The study concludes that the Indian construction and real estate company’s financial performance has improved overall for the acquiring firms during the post-M&A period. The study implies that the construction sector supports the synergy hypothesis, stating that M&A will improve synergy during the post-M&A period because of the consolidation of two firms’ resources.

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ANALISIS KINERJA KEUANGAN PERUSAHAAN YANG TERMASUK DALAM KELOMPOK INDEKS LQ 45 DAN JII DENGAN MENGGUNAKAN ROE DAN ROA PADA BURSA EFEK INDONESIA TAHUN 2010

JIMFE (Jurnal Ilmiah Manajemen Fakultas Ekonomi) ◽

10.34203/jimfe.v3i2.978 ◽

2011 ◽

Vol 3 (2) ◽

pp. 115-143

Author(s):

Yan Noviar Nasution ◽

Herdiyana Herdiyana

Keyword(s):

Stock Exchange ◽

Hypothesis Test ◽

Test Results ◽

Return On Assets ◽

Public Companies ◽

The Public ◽

Significant Difference ◽

The Difference ◽

A Company

This Research is entitled The Analysis of the Financial Performance Companies which Included in groupan index to LQ 45 And JII by using ROE and ROAat IndonesiaStock Exchange in the Year of 2010. As for target of this research to know the difference between the mean of Return Equity on ( ROE) and Return On Assets ( ROA)of the public companies is merged into go to group of LQ 45 which have large asset and LQ 45 which have small asset, of the public companies is merged into go to group of JII whichhave large asset and JII which have small asset, and of the public companies is merged into go to group of LQ 45 which have large asset and JII whichhave large asset and also of the public companies is merged into go to group of LQ 45 which have small asset and JII whichhave small asset and of the public companies is merged into go to group of LQ 45 which have large asset and JII whichhave smallasset and also of the public companies is merged into go to group of LQ 45 which have small asset and JII whichhave large asset .The research method used is case study of the public companies which is merged into go to group of LQ 45 and JII ( Jakarta Islamic Index ) which are listed in Indonesia Stock Exchange. Analysis of the different test using the criteria of asset ownership, meaning the companies split in two groups of assets, the company went public that beraset beraset small and large. Where restrictions on the size of a company, obtained from the calculation of the average assets held by the sample firms went public in each group of assets While companies taken as sample is companies which enlist in two period of the announcement of Indonesia Stock Exchange or one fullyear of (2010) and data used in this research is data of secondary in Web IDX.Based on the hypothesis test results concluded that there are significant differences between the ROA average of the public companies is merged into go to group of LQ 45 which have large asset withthe average ROA of the public companies is merged into go to group of JII whichhave large asset or which have small asset. As well as that there are significant difference between the average the ROA of the public companies is merged into go to group of JII whichhave large asset with the average the ROA of the public companies is merged into go to group of JII whichhave small asset.While for the group of LQ45 indexthere is no significant difference between the ROA average of the public companies is merged into go to group of LQ 45 which have large asset with the ROA average of the public companies is merged into go to group of LQ 45 which have small asset. Meanwhile, for the ROE average in general there is no significant difference between of the public companies is merged into go to group of LQ 45orthe group ofJII, except between the ROE average of the public companies is merged into go to group of LQ 45 which have large asset withthe average ROE of the public companies is merged into go to group of JII whichhave large asset.

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