Companies In Pharmaceutical Sector Research Articles

ANALISIS PERBANDINGAN AGRESIVITAS PAJAK SEBELUM DAN SESUDAH PANDEMI COVID-19 PADA PERUSAHAAN FARMASI

The Covid-19 pandemic has resulted in a decrease in state revenue and an increase in state spending, which prompted the Indonesian government to issue fiscal policy as an effort to save the national economy. However, in this context, tax avoidance practices by pharmaceutical sector companies are a significant problem, with the Tax Justice Network recording lost tax revenues reaching US $ 4.86 billion per year or equivalent to Rp69.1 trillion. This study aims to empirically examine the Tax Avoidance of Pharmaceutical Sector Companies Before and After the Covid-19 Pandemic. This study uses the Effective Tax Ratio (ETR) as a proxy or measure of tax avoidance. This type of research is descriptive research, using secondary data on the company's financial statements with data analysis techniques using the Paire sample T-Test. The population of this study is pharmaceutical sector companies listed on the Indonesia Stock Exchange (IDX) in 2018-2019 and 2021-2022. The results prove that there are differences in tax aggressiveness before and after the Covid-19 pandemic. The Covid-19 pandemic has had a significant impact on the practice of tax aggressiveness of pharmaceutical sector companies in Indonesia, as evidenced by the difference in tax avoidance before and after the Covid-19 pandemic based on the Effective Tax Ratio (ETR) proxy.

Pengaruh Intellectual Capital dan Enterprise Risk Management Terhadap Nilai Perusahaan dengan Kinerja Keuangan sebagai Variabel Intervening (pada Perusahaan Farmasi yang Terdaftar di Bursa Efek Indonesia Periode 2018-2021)

Price book value is an indicator of company value that is usually used as an assessment by investors when investing. This research aims to obtain the results of a study of the influence of intellectual capital with the value added intellectual capital (VAIC) indicator and enterprise risk management with the indicator (COSO ERM) on company value and financial performance as intervening variables in pharmaceutical sector companies listed on the Indonesia Stock Exchange for the 2018 period. -2021. The method used was purposive sampling so that a sample of 9 companies was obtained. Data analysis uses partial least squares (PLS). The research results show that intellectual capital, enterprise risk management and financial performance directly have a positive and significant effect on company value. The research results also state that intellectual capital and enterprise risk management which are mediated by financial performance variables have a positive influence on company value.

Stock Performance Analysis of PT. Kalbe Farma TBK (KLBF) in 2016-2020

When the World Health Organization (WHO) announced that COVID-19 was upgraded to pandemic status, investors began to reconsider their portfolio structure from risky assets such as stocks to gold. This study aims to determine the stock performance of PT. Kalbe Farma Tbk during the COVID-19 pandemic. A quantitative descriptive approach by linking company financial statement data with the phenomenon of the COVID-19 pandemic is the method used in this study. Based on the results of the research that has been done, it can be concluded that the performance of PT. Kalbe Farma Tbk before and during the COVID-19 pandemic on the dependent variable (stock return), namely the Current ratio, had a significant effect on Stock Return. However, based on the results of hypothesis testing regarding the effect of Earnings Per Share and Net profit margin on Stock Return partially, it can be concluded that these variables do not have a significant effect on Stock Return. Based on the conclusions above, the researcher recommends that the first company is expected to make the value of CR better in order to attract investors in investing their funds. Because if the company has a high CR value then the company can be said to have no constraints to pay its debts, thus many investors will be interested in investing in pharmaceutical sector companies and that can be very profitable for the company. Next is advice for those who want to invest in pharmaceutical companies, it is recommended to look at the CR owned by the company if investors want to make long-term investments.

Kinerja Keuangan dan Nilai Perusahaan Sektor Farmasi

Companies have goals to be achieved. The company's efforts aim to produce sound financial performance and increase firm value. Many factors can determine the value of a company. This research aims to obtain a depiction of the performance and value of the company. In addition, testing and analyzing the influence of financial performance factors on firm value is also the aim of this study. The research sample is pharmaceutical sector companies listed on the Indonesia Stock Exchange. Secondary data was obtained from financial statements for five years and processed using regression analysis. The results showed that the indicators measuring liquidity, leverage, activity, profitability, and company size contributed to determining firm value. Specifically, the test results show that the ability of pharmaceutical companies to meet current liabilities as the maturity date is a factor determining firm value.

Relationship between Company Size, EPS, Leverage and Financial Performance of Pharmaceutical Companies on the IDX

Objectives – This research aims to determine the influence of company size, EPS, and leverage on the financial performance of manufacturing industry companies in the pharmaceutical sub-sector listed on the IDX. Design/Methodology/Approach – This research uses secondary data from financial reports of pharmaceutical companies on the Indonesia Stock Exchange in 2018 - 2022. The sample used was 8 companies with sample selection using purposive sampling technique. The analysis used is multiple linear regression with the Eviews 9.0 analysis tool. Findings – The results of this study show that Company Size has no effect on financial performance, EPS has a significant effect on financial performance, Leverage has no effect on financial performance. Conclusions and Implications - Based on the results, it is found that company size has no effect on financial performance, while EPS has a positive effect on financial performance and leverage has a negative effect on financial performance. Pharmaceutical sector companies listed on the IDX can increase EPS and reduce leverage to improve financial performance.

PENGARUH LIKUIDITAS DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING PADAPERUSAHAAN FARMASI YANG TERDAFTAR DI BEI

Pharmaceutical companies are companies whose production focuses on medicines and health The value of a company can basically be measured in several ways, one of which is the company's stock price. The purpose of this study was to determine the significance of the effect of Liquidity and Profitability on Firm Value of Dividend Policy. This research uses descriptive and quantitative research The population in this study are 12 pharmaceutical sector companies listed on the Indonesia Stock Exchange for the 2018-2021 period The sampling technique in this study used a purposive sampling technique. Data analysis and hypothesis testing in this study used the Structural Equation Model-Partial Least Square (PLS-SEM)
 The results of the direct influence hypothesis test using the Smart PLS 3.0 application, show that Liquidity has a negative but significant effect on Dividend Policy, Profitability has a positive but not significant effect on Dividend Policy, Liquidity has a significant positive effect on Company Value, Profitability has a significant positive effect on Company Value, Profitability has an effect positive but not significant to company value. The results of the indirect influence hypothesis test show that the variable Liquidity on Dividend Policy through Company Value has a positive but not significant effect, Profitability on Dividend Policy through Company Value has a negative but not significant effect.

Analisis Praktik Corporate Social Responsibility (CSR) Saat Pandemi Covid-19 pada Perusahaan Farmasi

This study aims to analyze: 1) the level and quality of Corporate Social Responsibility (CSR) disclosure during the Covid-19 in pharmaceutical companies based on the 2021 GRI Standards, 2) Corporate Social Responsibility (CSR) practiced by pharmaceutical companies in helping to overcome the Covid-19 based on the 2021 GRI Standards. This research is a qualitative research using content analysis methods. The research was conducted on pharmaceutical sector companies in Indonesia by taking 4 samples of companies, namely PT Indofarma Tbk, PT Kalbe Farma Tbk, PT Phapros Tbk, and PT Sido Muncul Tbk. The data used is data for 2019-2020 when the Covid-19 entered Indonesia. The research data comes from the company's sustainability report. The results of content analysis show that the Covid-19 has played a major role in the disclosure of Corporate Social Responsibility (CSR) in the pharmaceutical sector. Two of the four companies that were the subject of the study had quite high Corporate Social Responsibility (CSR) disclosures, namely PT Kalbe Farma and PT Sido Muncul Tbk. Four companies that are active research subjects provide assistance in the form of donations to the community in efforts to tackle the Covid-19.

Pengaruh Inflasi, Tingkat Suku Bunga, Nilai Tukar, dan Struktur Modal terhadap Return Saham Perusahaan Sektor Farmasi

Return is one of the factors that can motivate investors to invest. There are two factors that can affect the rate of return, there are macro and microeconomic factors This study aims to determine the effect of macroeconomic factors, such as inflation, interest rates, and exchange rates and microeconomic factors, there are capital structure on stock returns in pharmaceutical sector companies listed in Indonesia Stock Exchange for the 2015-2020 period. This research is a quantitative approach, there are calculations on the data in the form of numbers. The research sample uses pharmaceutical companies that have been listed on the IDX for the 2015-2020 period using a purposive sampling technique, obtained 48 samples of the company during the 2015-2020 period. The research is secondary data which is already available about financial reports and annual reports of pharmaceutical sector companies for the 2015-2020 period and obtained from Indonesian Stock Exchange official website. The results showed that inflation have a significant effect on stock returns, interest rates have a significant effect on stock returns, the exchange rate have no significant effect on stock returns, capital structure have no significant effect on stock returns, and company size as a control variable do not have a significant effect on stock returns in pharmaceutical companies listed on the IDX for the 2015-2020 period.Keywords : Exchange Rates, Capital Structure, Inflation, Interest Rates, Stock Returns

Profitabilitas, Likuiditas, Modal Intelektual dan Nilai Perusahaan pada Masa Pandemi Covid-19

During the Covid-19 pandemic, the value of pharmaceutical companies increased while other companies didn't. This research aims to determine how profitability, liquidity, and intellectual capital influence firm value during the Covid-19 pandemic. The population in this research is 12 pharmaceutical sector companies listed on the Indonesia Stock Exchange (IDX) for the first quarter of 2020 to the second quarter of 2021. The sampling technique used the purposive sampling method with the number of samples obtained as many as 10 companies with 60 observations. This research used multiple linear regression analysis to determine the effect of profitability, liquidity, and intellectual capital on firm value during the Covid-19 pandemic. This research indicates that profitability, liquidity, and intellectual capital have a positive effect on firm value during the Covid-19 pandemic.
 Keywords: Profitability; Liquidity; Intellectual Capital; Firm Value.

НЕФИНАНСОВЫЕ ФАКТОРЫ ЭФФЕКТИВНОСТИ ФАРМАЦЕВТИЧЕСКИХ КОМПАНИЙ В РОССИИ

The development of the pharmaceutical industry is inextricably linked with the development of new types of drugs, the introduction of new technologies, the provision of scientific research in bioengineering and biotechnology, which can be ensured through the continuous development of intellectual capital. Intellectual capital is a capacious and ambiguous concept that, other things equal, is explained by the presence of professional skills and competencies of employees that cannot be separated from them and, therefore, are reflected in the financial statements. For a long time, researchers have been evaluating the impact of intellectual capital on the performance and value of companies in various sectors of economy. This article attempts to look at the problem more broadly by adding the factors inherent in sustainable development and competitive advantages of the company: business model and business strategy to the traditional elements of intellectual capital. The purpose of the work is to assess 137the impact of business strategy, business model and intellectual capital components on the performance of pharmaceutical companies in Russia. The object of the study is the financial and non-financial reporting of Russian pharmaceutical companies. The subject is establishing the relationship between the disclosure of information on intellectual capital and financial performance, taking into account the business strategy and business model of the company. The methodological basis is the statistical and economic method, namely, the regression of panel data with fixed effects. The results show that most large companies in pharmaceutical sector adhere to the business strategy of “analyzers” and choose the business model of producers of their own drugs. The findings indicate no connection between the company's business strategy and business model and the performance of pharmaceutical companies. Elements of IC have been established that provide competitive advantages for the company in pharmaceutical industry.

Stock Market Reaction of Pharmaceutical Sector Companies to the Announcement of the Covid 19 Endemic in Indonesia

Stock Market Reaction of Pharmaceutical Sector Companies to the Announcement of the Covid 19 Endemic in Indonesia

Analisis Kinerja Keuangan Sektor Farmasi Yang Terdaftar Di BEI Sebelum Dan Saat Covid-19

Financial performance is a reference that the company wants to achieve in the future within a certain period of time, which effectively and efficiently reflects the health of the company. This study aims to obtain information on the financial performance of pharmaceutical sector companies listed on the IDX before and during COVID-19. The research method used in this research is descriptive quantitative. The data analysis technique used is the profitability ratio with secondary data collection. The results of the analysis show that COVID-19 affects the financial performance of pharmaceutical sector companies listed on the Indonesia Stock Exchange. There are several companies experiencing an increase in profitability ratios before and during COVID-19, but not significantly. This supports the agency theory and the signal theory that management has managed the company effectively so that there is an increase in profits. A high profitability ratio is a good signal for investors to invest their shares in the company so that the value of the company's shares will rise.

Pengaruh Earnings Per Share (EPS), Price Earnings Ratio (PER), & Price Book Value (PBV) terhadap Harga Saham Perusahaan Farmasi yang terdaftar di BEI Periode 2016-2020

This study aims to test the influence of Earnings Per Share (EPS), Price Earnings Ratio (PER), and Price Book Value (PBV) on Stock Prices. The population of this study is pharmaceutical sector companies registered in IDX for the period 2016-2020. The population obtained is 10 companies and after the sample selection process with purposive sampling method, obtained 8 companies. The data source is obtained from the annual financial statements of pharmaceutical companies registered with IDX for the period 2016-2020. Data analysis method using data regression panel analysis with the help of Eviews 10 software application. The results showed partially variable Earnings Per Share (EPS), and Price Book Value (PBV) had a significant effect on the Share Price. While the Price Earnings Ratio (PER) has no significant influence on the Share Price. Simultaneously variable Earnings Per Share (EPS), Price Earnings Ratio (PER), and Price Book Value (PBV) affect the Share Price of pharmaceutical sector companies listed on IDX for the period 2016-2020 of 28.4%.

ANALYSIS OF THE COMPANY'S FINANCIAL PERFORMANCE BEFORE AND DURING THE COVID-19 PANDEMIC (2019-2020) IN PHARMACEUTICAL SECTOR COMPANIES LISTED ON THE IDX

Many businesses must maintain their financial performance in order to survive the COVID-19 pandemic. One of them is a pharmaceutical sector company that the public hopes can find a way to cure it. This study was conducted to determine differences in the financial performance of pharmaceutical sector companies listed on the IDX before and during the pandemic. The research data is secondary data taken from the Indonesia Stock Exchange website, namely 12 pharmaceutical companies. This type of research is quantitative research with a descriptive method approach. The financial performance is measured by the profitability ratios namelyreturn on assets, return on equity, net profit margin, gross profit margin and earnings per share. The result of this research is that only 2 out of 5 average profitability ratios, namely gross profit margin and earnings per share, have increased. The increase in market demand does not guarantee an increase in the company's financial performance, especially profit growth.

Effect of Current Ratio and Debt to Asset Ratio Against Return on Assets (Empirical Study on Pharmaceutical Sector Companies Listed on the Indonesia Stock Exchange (BEI) 2016 – 2020 Period)

This study aims to determine the effect of Current Ratio (CR) and Debt to Asset Ratio (DAR) on Return On Assets (ROA). The type of research used in this research is descriptive research that uses a quantitative approach. The type of data used in this research is secondary data. The data source used in this study is the financial statements of pharmaceutical sector companies listed on the Indonesia Stock Exchange for the 2016 – 2020 period . The sampling technique in this study used purposive sampling and obtained a research sample of 4 companies with a total of 20 research sample data. The analysis technique used descriptive statistical analysis, Chow test, Hausman test, then classic assumption test consisting of normality test, multicollinearity test, heteroscedasticity test, and autocorrelation test. Then test multiple linear regression analysis, then test the hypothesis by using the t test, F test, and the coefficient of determination. Data analysis using software Eviews version 12. The results of this study indicate that the Current Ratio (CR) has a negative and significant effect on Return On Assets (ROA) based on the results of tcount 4.173648 > ttable 2.10982, with a significance value of 0.0009 less than 0.05. While the Debt to Asset Ratio (DAR) has no effect on Return On Assets (ROA) based on the results of the tcount 2.089533 < ttable 2.10982, with a significance value of t of 0.0554 which is greater than 0.05. Simultaneously Fcount 49.81422 > Ftable 3.59, with a probability significance value of 0.0008 less than 0.05, then the Current Ratio (CR), Debt to Asset Ratio (DAR) together have a significant effect on Return On Assets (ROA).

The Effect of First Case Covid-19 Announcement on Average Trading Volume Activity of Pharmaceutical Sector Companies

Indonesia announced its first case of Covid-19 on March 2, 2020. This research aims to find significant differences in the trading volume activity of pharmaceutical companies before and after the Covid-19 first case announcement. The data have been obtained 3, 10, and 14 days before the announcement and on the 3rd, 10th, and 14th days after Indonesia first announced the covid-19 coronavirus. The data has been processed using SPSS 26 version through a One-sample Kolmogorov Smirnov t-test. The results show that there is a significant difference in the transaction volume of the pharmaceutical stock company before and after Indonesia’s first announcement of the covid-19 case. This is indicated by a significance value of 0.00 <0.05, which means that the transaction volume after the announcement shows an increased value compared to the volume before the announcement. Indonesia mengumumkan kasus pertama Covid-19 pada 2 Maret 2020. Penelitian ini bertujuan untuk mengetahui perbedaan signifikan volume transaksi perusahaan farmasi sebelum dan sesudah pengumuman kasus pertama Covid-19. Pengambilan data dilakukan 3, 10, dan 14 hari sebelum pengumuman dan pada hari ke-3, ke-10, dan ke-14 setelah Indonesia pertama kali mengumumkan virus Covid-19. Data diolah menggunakan SPSS versi 26 melalui uji t satu sampel. Hasil penelitian menunjukkan bahwa terdapat perbedaan yang signifikan pada volume transaksi perusahaan saham farmasi tersebut sebelum dan sesudah pengumuman kasus Covid-19 pertama di Indonesia. Hal ini ditunjukkan dengan nilai signifikansi 0,00 < 0,05 yang berarti volume transaksi setelah pengumuman menunjukkan nilai yang meningkat daripada volume sebelum pengumuman.

ANALISA KINERJA KEUANGAN RUMAH SAKIT DAN FARMASI SEBELUM DAN SETELAH COVID 19

The purpose of this study was to analyze and compare the financial condition of hospital and pharmaceutical sector companies listed on the Indonesia Stock Exchange before and during COVID-19 using the Springate and Zmijewski models. This study uses agency theory and signaling theory where complete, relevant, accurate and timely information is needed by investors in the capital market as an analytical tool for making investment decisions. The type of research used is comparative descriptive research. This comparative study aims to compare the financial performance of the hospital and pharmaceutical sectors before and during COVID-19. The sampling method in this research is purposive sampling method with the number of observers 21 companies. The source of data in this study was obtained from the IDX website, namely http://www.idx.co.id. Analysis of the data using the Springate and Zmijewski method to determine the financial condition then perform individual and comparative analysis. According to the Springate model, pharmaceutical companies and hospitals prior to the Covid-19 outbreak, all of the companies studied had healthy financial performance. However, during the civid period there were 7 (seven) companies that experienced unhealthy financial performance. While the Zmijewski model of pharmaceutical companies and hospitals before the Covid-19 outbreak, all of the companies studied had healthy financial performance. However, during the civid period there were 2 (two) companies that experienced unheharmaceuticalalthy financial performance. Both models have the same rating on 1 company during the covid 19 period.

PENGARUH KINERJA KEUANGAN DAN ECONOMIC VALUE ADDED TERHADAP RETURN SAHAM PADA PERUSAHAAN FARMASI DI BURSA EFEK INDONESIA

The purpose of this study is to prove the relationship between return on assets and economic value added with stock returns in pharmaceutical sector companies listed on the Indonesia Stock Exchange, from 2017 to 2019. Sampling was carried out by purposive sampling, and there were 6 companies used as samples. as research samples from 10 companies. The source of data in this study is secondary data obtained from the Indonesia Stock Exchange. Data were analyzed using multiple linear regression. The results of this study provide evidence that individually, return on assets has a positive and significant effect on stock returns, and economic value added does not have a significant effect on stock returns. Meanwhile, simultaneously return on assets and economic value added have a positive and significant effect on stock returns.

Analisis Rasio Keuangan Terhadap Harga Saham Pada Perusahaan Farmasi

The research has the objective of analyzing financial ratios to stock prices of pharmaceutical sector companies that are listed on the Indonesia Stock Exchange. Accumulated buy events often occur in pharmaceutical company shares, but the issuer's share price remains stagnant. Where shares are bought by many investors, but the price is still maintained. This research was conducted on the Indonesia Stock Exchange of pharmaceutical entities on the IDX. The population in this research is the financial statements of pharmaceutical entities on the IDX for the period 2016-2020 and that meet the sample criteria, there are 10 companies. This research applies financial ratios including the current ratio, debt to equity ratio. The method applied is a multiple regression linear analysis model. The findings of the F test simultaneously current ratio and debt equity ratio have a significant effect on stock prices. The findings of the current ratio t test have a significant impact on stock prices. debt equity ratio has no significant effect on stock prices. Based on the value of R Square 0.180. This figure is 18% of the percentage of variables studied in this research, the remaining 82% is due to other factors that have not been discussed in the research

Pengaruh Ukuran Perusahaan, Leverage, dan Profitabilitas Terhadap Manajemen Laba

This study aims to examine the effect of firm size, leverage, and profitability on earnings management. The dependent variable used is earnings management, and the independent variables used are firm size, leverage, and profitability. The subjects of this research are pharmaceutical sector companies listed on the Indonesia Stock Exchange 2017-2019. This sample was selected using a purposive sampling method. The total sample used is 10 sample data. This research method uses multiple linear regression analysis which is processed using spss 25. The results of this study simultaneously show that firm size, leverage, and profitability have an effect on earnings management. Based on the results of the determination test which shows the value of the coefficient of determination is 0.406. These results indicate the ability of the independent variable to explain the dependent variable by 40.6%, while the remaining 59.4% is explained by other variables. While partially shows that firm size and profitability have a positive and significant effect, while leverage has a negative and significant effect on earnings management.
 Keywords: Firm Size, Leverage, Profitability and Earnings Management.