Comparative Analysis of Financial Performance Before and During the Covid-19 Pandemic Using Profitability, Liquidity, Solvency and Economic Value Added (EVA) Ratios in Go Public Companies Listed on the Indonesia
Keywords:
COVID-19, Profitability Ratio, Liquidity Ratio, Solvency Ratio, Economic Value Added (EVA)
Abstract
The study aims to compare the company's financial performance before and during the Covid-19 Pandemic. The variables used are the ratio of profitability, liquidity, solvency and economic value added (EVA). The objects in the study are hotel, restaurant and tourism sub-sector companies listed on the Indonesia Stock Exchange. Sampling is carried out based on criteria with a sample of 25 companies with a total of 200 data observations for each variable. This research is a type of quantitative research with comparative analysis. Data analysis using comparative descriptive statistical analysis. The results showed that the Current Ratio, Quick Ratio, Cash Ratio, DER, DAR, and NPM had significant differences between before and during the pandemic. ROA, ROE and EVA did not have a significant difference between before and during a pandemic.
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References
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Agnes, Sawir. (2009). Analisa Kinerja Keuangan dan Perencanaan keauangan Perusahaan. Jakarta: PT. Gramedia Pustaka Utama
Badan Pusat Statistik. (2020). Provinsi Jawa Barat Dalam Angka. Retrieved from https://jabarprov.go.id/assets/data/menu/Provinsi Jawa Barat Dalam Angka 2020.pdf
Bistrova, J., & Lace, N. (2012). Defining Key Factors to Sustain Maximum Shareholder Value, 2012. https://doi.org/10.5171/2012.391928
Brigham, & Houston. (2010). Manajemen Keuangan II. Jakarta: Salemba Empat.
Budhiana. (2020). Menghitung Kontribusi Sektor Pariwisata Bagi Ekonomi RI. Retrieved from https://www.cnnindonesia.com/ekonomi/20200226121314-532-478265/menghitung-kontribusi-sektor-pariwisata-bagi-ekonomi-ri
Dewi, Ratih Kartika dan Zulaikha. (2010). Analisa Faktor-Faktor yang Mempengaruhi Praktik Perataan Laba (Income Smoothing) pada Perusahaan Manufaktur dan Keuangan yang Terdaftar di BEI (2006-2009). Jurnal Universitas Diponegoro: Semarang
Fahmi. (2011). Analisis Laporan Akuntansi. Bandung: Alfabeta.
Greuning. (2013). International financial reporting standards: sebuah panduan praktis. Jakarta: Salemba Empat.
Harahap, Sofyan Syafri. (2011). Analisis Kritis atas laporan Keuangan. Edisi Pertama Cetakan ke sepuluh. Jakarta : PT Bumi Aksara
Horne, & Wachowicz. (2013). Prinsip-Prinsip Manajemen Keuangan. Jakarta: Salemba Empat.
Hosseininasab, M., Gholinezhad, M., & Alimi, N. (2013). Investigating the effect of economic value added on reporting of financial information, 2(3), 45–50.
Hutabarat. (2021). Analisis Kinerja Keuangan Perusahaan. Serang: Desanta Muliavisitama.
Indrastuti S., S., Putri, L. H., Tanjung, A. R., & Rokhmawati, A. (2017). Comparative analysis of financial performance of banking before and after the global economic crisis in 2008. International Journal of Scientific and Technology Research, 6(11), 238–244.
Irawan, & Manurung. (2020). Analisis Economic Value Added (EVA) dan Market Value Added (MVA) sebagai Alat Pengukur Kinerja Keuangan PT SA. Jurnal Manajemen Dan Organisasi, 2(2), 123. https://doi.org/10.29244/jmo.v2i2.14202
Jakub, S., Viera, B., & Eva, K. (2015). Economic Value Added as a Measurement Tool of Financial Performance. Procedia Economics and Finance, 26(15), 484–489. https://doi.org/10.1016/s2212-5671(15)00877-1
Jumingan. (2011). Analisis Laporan Keuangan. Jakarta: Bumi Aksara.
Kasmir. (2016). Pengantar Manajemen Keuangan Edisi 2. Jakarta: Kencana.
Kaunang, S. A. (2013). Analisis Kinerja Keuangan Perusahaan Pada PT. Cipta Daya Nusatara Manado. Jurnal EMBA, 1(4), 1993–2003.
Khaddafi, M., & Heikal, M. (2014). Financial Performance Analysis Using Economic Value Added in Consumption Industry in Indonesia Stock Exchange. American International Journal of Social Science, 3(4), 219–226.
Munawir. (2014). Analisis Laporan Keuangan. Yogyakarta: Liberty.
Novyarni, N., & Ningsih, L. N. A. (2020). Comparative Analysis of Financial Ratios and Economic Value Added Methods in Assessing Company Financial Performance, 127(Aicar 2019), 137–142. https://doi.org/10.2991/aebmr.k.200309.031
Putra, Lahindah, & Rismadi. (2014). Financial Performance Analysis Before and After Global Crisis (Case Study in Indonesian Oil and Gas Sector for the Period of 2006-2011). Review of Integrative Business & Economics Research, 1(1), 336–346.
Riyanto. (2011). Dasar-dasar Pembelanjaan Perusahaan. Yogyakarta: BPFE.
Salim, H. A., & Nurbailah, A. (2018). Analisis Rasio Sebagai Dasar Pengukuran Kinerja Keuangan Pada Koperasi Simpan Pinjam Syariah BMT UGT Sidogiri. Wiga: Jurnal Penelitian Ilmu Ekonomi, Vol. 8, No. 2.
Setiawan. (2015). Teknik Praktis Analisis Data Penelitian Sosial dan Bisnis dengan SPSS. Yogyakarta: ANDI.
Sudana, I Made. (2015). Manajemen Keuangan Perusahaan. Edisi Kedua. Jakarta: Erlangga
Sugiyono. (2017). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta.
Trihastuti dkk. (2016). Hubungan Kepemimpinan, Motivasi dan Beban Kerja terhadap Kinerja Perawat dalam Pendokumentasian Asuhan Keperawatan. Jurnal INJEC. Vol.1 hal.90-95.
Wahyu, D. R. (2017). Economic Value Added and Financial Ratio Analysis Implementation on Tobacco Company. European Journal Of Business And Management, 9(6), 65–68.
Wibowo, B. T. (2020). Analisis Laporan Keuangan Untuk Mengukur Kinerja Keuangan PT. Intan Segara Semarang Dalam Pandemi Covid-19. Anindyaguna Ekonobisnis: Jurnal Ekonomi dan Bisnis STIE Anindyaguna, 2(2), 119-13
