Abstract
During the Covid-19 pandemic, some sectors are predicted to grow while many other sectors slump. This study aims to prove the difference in financial performance between companies in the Food and Beverages, Tobacco Manufacturers, Pharmaceuticals, Cosmetics and Household, and Houseware Sub-Sectors during the Covid-19 pandemic. Measurement of financial performance using the ratio of Return on Assets (ROA) and Return on Equity (ROE). The sample was determined purposively and 44 companies were selected as samples. Methods of data collection using documentation techniques. The research data was obtained from the company's financial statements, annual reports, summary of IDX listed companies, and the IDX Facts Book. Data obtained from the Indonesia Stock Exchange. The data analysis technique used Multivariate Analysis of Variance (MANOVA). Based on the results of data analysis, it can be concluded that the financial performance of the Cosmetics and household, Food and Beverages, and Tobacco Manufacturers sub-sector companies decreased during the Covid-19 Pandemic. The Houseware and Pharmaceuticals sub-sector achieved a significant increase during the Covid-19 Pandemic. There is a significant difference between the financial performance of the Cosmetics and household, Food and Beverages, Houseware, Pharmaceuticals, and Tobacco Manufacturers sub-sector companies listed on IDX before and during the Covid-19 Pandemic.
Highlights
The COVID-19 pandemic has had a huge impact on the global business world
The purpose of this study is to prove the existence of differences in financial performance between companies in the Food and Beverage, Cigarette, Pharmaceutical, Cosmetics and Household Goods, Household Appliances, and Other Sub-Sectors during the Covid-19 pandemic
Based on the theory and previous research, the research hypothesis is formulated as follows: H1 : There is a significant difference between the financial performance of the Food and Beverage, Tobacco manufacturers, Pharmaceutical, Cosmetics and Household, and Houseware Sub-Sector companies before and during the Covid-19 pandemic
Summary
The COVID-19 pandemic has had a huge impact on the global business world. Companies from small to large scale must fight hard to survive in the midst of declining public consumption. This has an impact on a significant decrease in the company's revenue. Countries in the world are experiencing very strong economic pressures that can push them into a recession (Wuryandani, 2020). The number of COVID-19 cases continued to increase until it reached 1,233,959 positive cases as of February 17, 2021. This figure places Indonesia as the country with the highest number of positive Covid-19 cases in Southeast Asia (Nurdiana, 2021)
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