COMPARATIVE ANALYSIS OF PROFITABILITY, FIRM SIZE, AND MARKET SHARE BEFORE AND DURING THE COVID-19 PANDEMIC IN INDONESIA
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Sep 26, 2022
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Abstract
This study examines the differences in stock returns, firm size, and profitability before and during the Covid-19 pandemic. This research is important because COVID-19 impacts the economic sector. The study compared stock returns, company size, and profitability in 617 companies listed on the IDX under the purposive sampling method. The results showed an increase in stock returns during the Covid-19 pandemic, indicating an increase in people's choices to invest in the capital market. In addition, there was a decrease in profitability, leading to a decrease in the company's total assets. This study contributes to the government's response to the pandemic.
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RIZALDI, Rifqi et al.
COMPARATIVE ANALYSIS OF PROFITABILITY, FIRM SIZE, AND MARKET SHARE BEFORE AND DURING THE COVID-19 PANDEMIC IN INDONESIA.
Proceedings of the International Conference of Islamic Economics and Business (ICONIES), [S.l.], v. 8, n. 1, p. 89-98, sep. 2022.
ISSN 2541-3333.
Available at: <http://conferences.uin-malang.ac.id/index.php/iconies/article/view/1779>. Date accessed: 19 apr. 2024.
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References
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Star, F.M., Malikah, A., & A. (2019). The effect of the previous year's audit opinion, debt default, liquidity ratio, and leverage ratio on the audit opinion going concerned. E-JRA, 8 (10), 98–115.
Buana, D. R. (2020). ). Analysis of Indonesian People's Behavior in Facing the Corona Virus (Covid-19) Pandemic and Tips for Maintaining Mental Welfare. Journal of Social &Cultural Syar-i FSH UIN Syarif Hidayatullah Jakarta, 7(3), 217–226.
Cho, H., & Lee, J.-S. (2015). The influence of self-efficacy, subjective norms, and risk perception on behavioral intentions related to the H1N1 flu pandemic: A comparison between Korea and the US. Asian Journal of Social Psychology.
Faisal, A., Samben, R., & Pattisahusiwa, S. (2018). Analysis of financial performance. Performance, 14(1), 6. https://doi.org/10.29264/jkin.v14i1.2444.
Hadiwardoyo, W. (2020). National economic losses due to the Covid-19 pandemic. Baskara Journal of Business & Entrepreneurship, 2(2), 83–92.
Hussin A.Rothana & Siddappa N.Byrareddy. (2020). The epidemiology and pathogenesis of coronavirus disease (COVID-19) outbreak. Journal of Autoimmunity. https://doi.org/https://doi.org/10.1016/j.jaut.2020.102433.
Indayani, S. & B. H. (2020). Analysis of Unemployment and Economic Growth as a Result of the Covid-19 Pandemic. Journal of Economics &Management of Bina Sarana Informatics University.
Jetter, M., Magnusson, L. M., & Roth, S. (2020). Becoming sensitive: Males' risk and time preferences after the 2008 financial crisis. European Economic Review, 128.
Johnston, A., Siponen, M., & Warkentin, M. (2015). An enhanced fear appeal rhetorical framework: Leveraging threats to the human asset through sanctioning rhetoric. Mis Quarterly, 113–134.
Cashmere. (2019). Financial Statement Analysis (Revised Edition). RajaGrafindo Persada.
Ministry of Health of the Republic of Indonesia. (2020). Regulation of The Minister Of Health of The Republic of Indonesia Number 9 Of 2020 Concerning Guidelines for Large-Scale Social Restrictions in Order to Accelerate The Handling of Coronavirus Disease 2019 (COVID-19). Kemenkes.Go.Id.
Ministry of Finance. (2020). OUR State Budget (Performance And Facts) Kaleidoscope 2020. Kemenkeu.Go.Id.
Laato, S., Islam, A Farooq, A., & Dhir, A. (2020). Unusual purchasing behavior during the early stages of the COVID-19 pandemic: The stimulus- organism- response approach. Journal of Retailing and Consumer Services.
Ngadi, N., Meliana, R., & Purba, Y. A. (2020). The Impact of the Covid-19 Pandemic on Layoffs and Income of Workers in Indonesia. Indonesian Population Journal, 43. https://doi.org/https://doi.org/10.14203/jki.v0i0.576.
Ramelli, S., & Wagner, A. F. (2020). Feverish stock price reactions to COVID-19. Swiss Finance Institute Research Paper. https://doi.org/10.1093/rcfs/cfaa012.
Rippetoe, P. A., & Rogers, R. W. (1987). Effects of components of protection-motivation theory on adaptive and maladaptive coping with a health threat. Journal of Personality and Social Psychology.
Rogers, R. . (1975). A protection motivation theory of fear appeals and attitude change. The Journal of Psychology, 91, 93–114.
Sharma, G.D., Thomas, A.,& Paul, J. (2021). Reviving tourism industry post- COVID- 19: A resilience-based framework. Tourism Management Perspectives. https://doi.org/https://doi.org/10.1016/j.tmp.2020.100786.
Shen, H., et al. (2020). The impact of the COVID-19 pandemic on firm performance. Emerging Markets Finance and Trade, 2213–2220.
Tulsian, M. (2014). Profitability Analysis ( A comparative study of SAIL & TATA Steel). Journal of Economics and Finance, 3(2). https://doi.org/10.9790/5933-03211922.
Wijayangka, C. (2014). Analysis of the financial performance of manufacturing sector companies due to the American financial crisis. Indonesian Journal of Management, 14 (2), 131–158.
Yudanto, N. and Santoso, M. S. (2003). The impact of the monetary crisis on the real sector. In Economic and Banking Bulletin (pp. 131–158).
Zhu, Y., Xie, J., Huang, F., & Cao, L. (2020). Association between short-term exposure to air pollution and COVID-19 infection: Evidence from China. Science of the Total Environment, 727(December 2019), 138704. https://doi.org/10.1016/j.scitotenv.2020.138704