Quarter Period Research Articles

Effect of FinTech on cash holding: Quarterly evidence from Nigeria

The operational activities of FinTech (Financial technology) have restyled the operational functionalities of the classical financial system in terms of cash holding. The purpose of this study is to scrutinize FinTech’s effect on cash holdings in Nigeria. Using quarterly data collated from the Central Bank of Nigeria from 2009 Q1-2020 Q4. The cointegrating nexus was estimated using the autoregressive distributed lag/bounds test model (ARDL) and the error correction model (ECM) approach. The Phillips-Perron unit root test was adopted to determine the stationarity properties of the series and their order of integration. Empirical results show the existence of a positive long run nexus between FinTech indicators of mobile banking (MOB), point of sales (POSs), Internet banking (INB), automated teller machine (ATM), and cash holding within the quarterly period under consideration. The ECM results of the short-run divergent factors of economic and financial vagueness, poverty, and literacy, among others, structural and institutional factors influencing the dogged cash transactions in Nigeria, converge back to equilibrium at 90% for ATM, 58% for POS, MOB at 67%, and WEB at 64%, respectively. This study expands its frontiers to accommodate exchange and interest rates as vital determinants of cash holding. The ARDL result offers a varied empirical perspective in contrast to the predominantly employed classical linear regression. Given the statistical limitations associated with findings derived from a singular model, it is imperative for regulators to possess a comprehensive comprehension of the operational mechanisms of Financial Technology (FinTech). This understanding would enable them to formulate appropriate policies that foster the adoption and utilization of FinTech platforms.

Entanglement maintenance of classically pumped qubits and calibration aspects with the resonator tomography under the Stark shift effect inside a coherent resonator

We present a scheme for the investigation of entanglement of a similar qubits-pair along with the coherent resonator tomography under two-photon processes. Our discussion is focusing on the effect of the classical power amplitude along with Stark shift width and the conditions under which they have a constructive role in protecting the initial-state entanglement and the corresponding field tomography evolution. We observe that the entanglement between the qubits does maximally peak below a critical value and can be determined by suitable measurements on the resonator tomography. Interestingly, above the critical value, the tomography profile either shows an annular structure or exhibits quantumness which could be largely diminished by controlling the driving power intensity as well as the shift width. Particularly and for a detuned interaction, the critical values can be largely exceeded for sufficiently large values of the driving intensity and Stark shift, hence, more regions in the plane of parameters can be occupied by the qubits correlation. In this case, the pronounced fluctuations exhibited by entanglement dynamics due to phase variations could be highly interrupted. Additionally, preserving the field tomography showing a multi-component Schrödinger cat state via field-field detuning, robust, periodical and close to unity entanglement between the qubits could be highly possible. Moreover, in particular situations, the field tomography dynamics show the Fourier transform of the original field wave packet one-quarter period after initial, accordingly, entanglement maxima are reached frequently per a quarter period of rotation.

Probabilistic Modeling of Maritime Accident Scenarios Leveraging Bayesian Network Techniques

This paper introduces a scenario evolution model for maritime accidents, wherein Bayesian networks (BNs) were employed to predict the most probable causes of distinct types of maritime incidents. The BN nodes encompass factors such as accident type, life loss contingency, accident severity, quarter and time period of the accident, and type and gross tonnage of the involved ships. An analysis of 5660 global maritime accidents spanning the years 2005 to 2020 was conducted. Using Netica software, a tree augmented network (TAN) model was constructed, thus accounting for interdependencies among risk-influencing factors. To confirm these results, a validation process involving sensitivity analysis and historical accident records was performed. Following this, both forward causal inference and reverse diagnostic inference were carried out on each node variable to scrutinize the accident development trend and evolution process under preset conditions. The findings suggest that the model was competent in effectively predicting the likelihood of various accident scenarios under specific conditions, as well as extrapolating accident consequences. Forward causal reasoning unveiled that general cargo ships with a gross tonnage of 1–18,500 t were most prone to experiencing collision and stranding/grounding accidents in the first quarter. Reverse diagnostic reasoning indicated that, in the early morning hours, container ships, general cargo ships, and chemical ships with a tonnage of 1–18,500 t were less likely to involve life loss in the event of collision accidents.

Does it fit in your pocket? economic burden of PD-1 inhibitors' toxicity in the supplementary health system: evidence from Brazil

BackgroundA full understanding of the economic burden associated with treatment-related adverse events (AEs) can aid estimates of the incremental costs associated with incorporating new technologies and support cost-effective economic modeling in Brazil. In this context, the main objective of this work was to evaluate in a real-life database: (i) the direct medical cost of monitoring the occurrence of AEs (CMO); (ii) the direct medical cost of managing an identified AE (CMN); and (iii) the total direct medical cost of monitoring and managing AEs (TMC), in quarterly periods from 0 to 24 months of the monitoring of cancer patients who used a PD-1 inhibitor from the perspective of the supplementary health system in Brazil.MethodsThis study was conducted from the supplementary health system (SSS) perspective and followed the methodological guidelines related to cost-of-illness studies. A bottom-up (person-based) approach was used to assess the use of health resources to monitor and manage AEs during the use of PD-1 inhibitors, which made it possible to capture differences in the mean frequency of the use of health services with stratification results for different subgroups. As the Brazilian SSS is complex, asymmetric, and fragmented, this study used information from different sources. The methodology was divided into three parts: (i) Data Source: clinical management of AEs; (ii) Microcosting: management of the economic burden of AEs; (iii) Statistical analysis: stratification of results for different subgroups.ResultsAnalysis of the economic burden of toxicity showed higher CMO costs than CMN in all the periods analyzed. In general, for every BRL 100 on average invested in the TMC of AEs, BRL 95 are used to monitor the occurrence of the AE and only BRL 5 to manage an identified AE. This work also showed that the sociodemographic characteristics of patients, the journey of oncological treatment, and the toxicity profile affect the economic burden related to AE.ConclusionThis study provided real-world evidence of the economic burden of AEs associated with the use of PD-1 inhibitors in Brazil. This work also made methodological contributions by evaluating the economic burden of AE of PD-1 inhibitors considering the kinetics of toxicity occurrence and categorizing the costs in terms of CMO, CMN and TMC.

PENGARUH NPL DAN BOPO TERHADAP PROFITABILITAS PADA BANK UMUM KONVENSIONAL PADA MASA PANDEMI COVID 19

This study aims to determine the effect of Non-Performing Loans (NPL) and Operational Costs and Operating Income (BOPO) on Profitability carried out at Conventional Commercial Banks during the 2020 Covid-19 pandemic. This study uses secondary data obtained from financial reports and data other financials for the 2020 Quarterly period taken via the web www.ojk.go.id. The sample in this study is Financial Reports for Quarters I to IV of 2020 at conventional commercial banks with a total of 149 samples. The results showed that NPL had a significant negative effect on ROA profitability and BOPO had no significant effect on ROA profitability.

Measuring the Relationship Between Economic Crises and Investment Portfolios - A Sample Study of Iraqi Banks

Purpose: The study aimed to measure the closing price indicators for the Iraqi bank sector during the period (2010-2020) and using the PMG / ARDL index, which is an acronym for pooled mean group / Autoregressive distributed lag, i.e. self-regression to slow down. Distributed tablet data, to measure the relationship between the components of the economic crises of the dependent variable (closing price) of the Iraqi banks, the study sample, and the independent variables each of (gross domestic product, market value, global oil prices and economic crises). Theoretical framework: The Iraqi economy is affected by economic crises along with the performance of investment portfolios in Iraqi banks. Methodology of the study: To highlight the different conclusions taken by the banks that contribute In its success: Barony's co-integration test, according to the four formulas, shows that there is long-term integration between the dependent variable (closing price) and the independent variables (market value, gross domestic product, crude oil prices) during the quarterly period 2010-2020, which means that the PMG method can be applied. /ARDL. Findings: This study showed that there is an adverse effect from the gross domestic product to the closing prices of the banking sector, and this can be justified by the increase in the gross domestic product associated with the increase in oil revenues. Because the oil sector contributes to 60% of GDP in Iraq. Practical & Social implications: Study main necessary comes from paying attention to the development of investment portfolios in Iraq by following solid policies in implementing the necessary procedures for investing in portfolios, raising awareness of the culture of investment portfolios within investment communities or investment companies, and establishing the idea of establishing a fund to guarantee investment portfolios in a symbiotic manner that reduces the risks of fluctuations in oil revenues resulting from Crises. Originality of study: Comes from that decision makers can reach solutions and treatments to mitigate their severity, and address the imbalance in the stock market in a way that achieves an improvement in the contribution formed by the rest sectors in the total GDP, and reduce the risks resulting from dependence on oil revenues.

BONO GETİRİLERİ, BIST-100 İLE BANKA KARLILIĞI ARASINDAKİ İLİŞKİ

The purpose of this study is to analyze the impact of bond return index (proxy for market interest rate) as well as BIST-100 (proxy for economic activity) upon bank profitability. The scope of this paper is Turkey. Data covers quarterly period between 2011 and 2021, data structure is panel data. Panel Dynamic Ordinary Least Squares (DOLS) is used in econometric analysis conducted in this study. ROA ratio of commercial bank, participation banks (non-interest banking industry) and investment & development banks are used as dependent variable; on the other hand, all-bond return index (as a reference for bond market interest rates) and BIST-100 return index are used as explanatory variables. Finding of the analysis indicate that the bond yield index (BOND) and the stock return index (BIST100) have a positive and statistically significant impact on the return on assets (ROA) of banks.

Impact of COVID-19 on emergency service usage in Turkey: interrupted time series analysis.

The aim of this study is to reveal the impact of the COVID-19 pandemic, which constitutes an extraordinary situation, on the habits of emergency health service use. The data of the study consist of emergency service applications of a public hospital in Turkey between the years 2018-2021. The number of applications to the emergency service was examined periodically. The interrupted time series analysis method was used to reveal the impact of the COVID-19 outbreak on emergency service admissions. When the main findings are analyzed in quarterly periods (3months = 1 quarter); there has been a sharp decrease in emergency service applications since March 2019, when the first case was seen in Turkey. When an evaluation is made between consecutive quarters, it is seen that there are fluctuations up to 80% in the number of applications. When the statistical analysis findings are examined; while the effect of COVID-19 on the number of applications was found to be significant for the first four periods, it was found to be insignificant for the following periods. With the conducted study, it was revealed that COVID-19 has a significant impact on the use of emergency health services. Although there was a statistically significant decrease in the number of applications, especially in the months following the first case, there was an increase in the number of applications over time. Considering the necessity of using emergency health services when necessary, it can be thought that some of the decrease in the number of applications during the COVID-19 period will be related to the use of unnecessary emergency health services.

Determining the (A)symmetric Role of Business–Consumer Confidence in Outward–Inward Tourism in Russia: A Competitiveness Perspective

Tourism activities in Russia, prior to the coronavirus pandemic and the Ukraine–Russia conflict, reportedly recorded a desirable boost, thus prompting the formulation of the country’s new Tourism Development Strategy for 2035. Considering this observation, the current study examines the determinants of the Russia’s inbound and outbound tourism, but especially from the perspective of linear and nonlinearity role of market—business and consumer—confidence over the quarterly period 2010Q1–2020Q4. The result shows that negative and positive shock in business confidence and consumer price index positively affects international arrivals to Russia in the short and long run, but with a negative shock in business confidence showing a larger effect. A shock (irrespective of the direction) in the consumer leading indicator leads to decline in international arrivals in the short and long run. We also found that a shock (mostly negative) in the consumer confidence reduces the numbers of Russian travellers to foreign tourist destinations in the short- and long-term period. However, a negative shock in business confidence encourages Russians to embark on touristic visit to destinations, while there is no significant effect arising from the shock in the consumer price index. Moreover, for symmetric evidence, there is a significant two-way Granger causality from BCI to outbound tourism, and from CLI to outbound tourism especially in the medium term, while a one-way causality exists from CPI to outbound tourism in the short and medium term.

Measuring the response of the property price index to monetary policy shock: Evidence from emerging market economies

This study examined the response of the residential property price index (RPPI) to monetary policy shocks. The analysis utilized a panel vector autoregressive (VAR) estimation covering the markets of 12 emerging countries over a quarterly period from 2000 Q1 to 2022 Q4. In a dynamic data model, the panel VAR estimation could be biased when the coefficients of the endogenous variables differ across countries. The results of the pooling assumption showed that the models contain heterogeneity among samples, indicating the need for a solution to address this problem. Consequently, a mean group estimation for the panel VAR was performed to resolve the heterogeneity issue. The residential property price index negatively responded to changes in housing loan (HL) and central bank (CB) interest rates. In contrast, it positively responded to changes in inflation, gross domestic product, and population. This research provided policymakers with recommendations on emerging market demand. To successfully interfere in the property market, policymakers must pay greater attention to formulating monetary policy, notably central bank interest rates. A steady central bank policy rate prevents growth in the property sector. Future research should include macroprudential policy as an endogenous component in the model.

An Assessment of the Benefits of Optimizing Working Capital and Profitability: Perspectives from DJIA30 and NASDAQ100

The objective of this paper goes beyond the boundaries of an exploratory analysis to operationalize the association between corporate working capital and return on assets. This paper optimizes the impact of the Cash Conversion Cycle (CCC) on Return on Assets (ROA). The paper develops a mathematical formulation that connects the components of CCC to ROA. The sample includes the non-financial firms listed in DJIA30 and NASDAQ100. The data covers the quarterly periods from June 1992 to March 2018. The paper uses standard statistical tests including linearity (RESET), the Hausman test for fixed and random effects, and the Breusch–Pagan/Cook–Weisberg test for heteroskedasticity. The estimation is carried out using the GLS estimator. This study finds: (a) the optimal, rather than observed, components of CCC are robust and coherent, (b) if firms were to optimize the components of CCC, the ROA improves significantly, (c) the positive estimates of size show that the components of CCC help firms grow, (d) the effects of either observed or optimal CCC on ROA are reached in the short term (four quarters), (e) the results show that observed as well as optimal CCC are able to detect the structural break in the 2008 financial crisis, and (f) the results of a logit analysis show that the optimization algorithm results in significant increases in ROA that are associated with increases in degree of financial leverage and decreases in short-term debt ratio. This paper contributes to the related literature in two ways. First, the paper develops a mathematical structure that associates corporate CCC and ROA in a way that offers a guide to corporate financial managers regarding structural management of corporate CCC. Second, the paper examines the impacts of optimized CCC on ROA.

IMMIGRATION AND ELECTION IN LEADER RHETORIC: TURKEY-EUROPEAN UNION RELATIONS (2014-2016)

In this study, Turkey-EU relations were examined through the discourses of German government president Angela Merkel and Turkish president Recep Tayyip Erdoğan in 2014 and 2015. With the Visa Exemption and Readmission Agreement signed during the period when the civil war in Syria increased migration movements, a new process began at the beginning of 2014 in Turkey-EU relations, which had been stagnant for a long time. In the same years, local elections, presidential elections, 7 June and 1 November general elections took place in Turkey. In the process led by Merkel, Erdogan's visits to Germany and Merkel's visit to Turkey have gained importance. In this research, discourses were identified by daily archival search from the news sites determined and in this direction, what kind of change occurred in the discourses of the leaders in the axis of relations and what effect these discourses had on the future of Turkey-EU relations were evaluated by the method of critical discourse analysis. In this direction, following the introductory section, the discourses of Erdoğan and Merkel in 2014 and 2015 are examined in quarterly periods. Then, the emphasis in the discourses was analyzed through the tables and the conclusion section ended with the evaluation of the findings.

Blackboard System and Students’ Academic Performance: An Experimental Study in The Philippines

Purpose: The main purpose of this study is to determine the Blackboard System's effectiveness on students' academic performance in Araling Panlipunan. Research methodology: The study employed a quasi-experimental pre-test and post-test non-equivalent group design and was entirely quantitative. Seventy (70) Ligaya High School students in Grade 7 who were divided into the control and experimental groups made up the study's subjects. Both groups received instruction on related subjects throughout the first quarter of the Araling Panlipunan grading period. The t-test for dependent and independent samples was the statistical tool employed to evaluate the hypothesis. Results: Results indicate that using the Blackboard System to teach Araling Panlipunan is a more effective approach than using the traditional lecture technique. Further, it has a significant impact on students and learning processes. Teachers also gained great benefits in using this system since it provided them an easy way of tracking student progress reducing a lot of paperwork load. Limitations: This study was limited to only Grade 7 Araling Panlipunan learners in the school year 2019-2020. The duration of the experiment was only focused on the First Quarter grading period. Contribution: One of the key goals of the study is to raise the standard of education by using new technological trends, which will assist them to advance their skills and competencies in technology. Teachers will also benefit from the study to help them improve their craft with the use of effective pedagogy with ICT to cope with the changing world.

Determinants Cash Holding; Evidence Mining Companies Listed on Indonesia Stock Exchange During Covid-19

This study aims to determine whether the effect of Cash flow , Net working capital, Dividend payout ratio, Leverage, and Growth opportunity on Cash holdings This type of research is quantitative by using secondary data on annual financial statements. This type of research is quantitative by using secondary data on annual financial statements. The population in the study amounted to 47 enterprises. Sampling using purposive sampling technique. Data analysis in this study uses quantitative analysis. The object of this study is a mining company listed on the Indonesia Stock Exchange in 2020 quarter period. Data analysis was carried out by classical assumption testing and hypothesis testing with multiple regression methods using the help of SPSS 25 software. The purpose of conducting this research is based on increasing competition from each company which requires companies to compete in improving achievements in the company. The novelty of this study to analyze cash holding with data during the Covid 19 pandemic in the 2020 quarter period. Where during the pandemic has influence on the Indonesian economic sector. Based on the test results, it can be concluded that Cash Flow variable has a significant positive effect on Cash Holding. The first hypothesis is accepted. Net Working Capital variable has a significant positive effect on Cash Holding. The second hypothesis is accepted. Dividend Payout Ratio has no significant effect on Cash Holding, the third hypothesis is rejected. Leverage has no significant effect on Cash Holding. The fourth hypothesis is rejected. Growth Opportunity has a significant negative effect on Cash Holding, the fifth hypothesis is accepted.There are several limitations experienced by researchers during the research process, namely in the data tabulation process and during the data processing process. Suggestions for similar research are recommended using other independent variables such as Good Corporate Governance and research samples from other company sectors. This is intended to obtain a detailed and comparable picture of cash holding management practices in various sectors of companies listed on the Indonesia Stock Exchange. Keywords: Cash Holding, Cash Flow, Net Working Capital, Dividend Payout Ratio, Leverage, Growth Opportunity DOI: 10.7176/EJBM/15-10-04 Publication date: May 31 st 2023

Bank-specific determinants of non-performing loans in Bhutan: Does business strategy matter?

The study examines bank-specific determinants of Non-Performing Loans (NPLs) of commercial banks in Bhutan using time series data for the quarterly period from 2014 to 2021. Explanatory variables in this study are credit growth, deposit rate, return on equity and capital adequacy ratio. To investigate the relationship between explanatory variables and NPLs, multiple regression analysis is employed. The regression analysis exhibit that credit growth and deposit rate significantly contribute to the growth of NPLs, while return on equity and capital adequacy ratio lowers NPLs. The outcome of this study is relevant to policy makers and regulators, as the findings suggest higher credit growth and increasing cost of funds are more likely to escalate and expose the commercial banks to NPLs. In addition, adherence to regulatory norms reduces the likelihood of default risk. In this regard, investment in productive sectors and business diversification are seen as an alternative to interest income from loans and advances. The outcome of this study is consistent with past studies on the bank-specific determinants of NPLs. The findings from this study will help decision makers and commercials banks in Bhutan to develop an effective credit risk management framework.

The Effect of Exports, Government Expenditures and Inflation on Economic Growth in Central Kalimantan

This study analyzes how the partial and simultaneous influence of the components of exports, government spending and inflation on economic growth. The method used in this research is descriptive-quantitative approach. The data used in this study is time series data for 2010-2019 in the quarter period in Central Kalimantan Province. The collected data is then analyzed using Multiple Linear Regression, the software used is Eviews version 9. The results of this study indicate that partially exports have a negative and insignificant effect on economic growth. Government Expenditure partially has a negative and insignificant effect on Economic Growth. Inflation partially positive and significant effect on economic growth. And overall Exports, Government Expenditures, and Inflation simultaneously have no effect on Economic Growth.

FARKLI DEPOLAMA KOŞULLARININ MERLOT ŞARAPLARINDA ANTOSİYANİN PROFİLİ ÜZERİNE ETKİSİ

Grape variety and health, soil and climate, agricultural techniques used, winemaking processes, storage time and temperature are the most important agents in the phenolic content of red wine. In this study, the effects of storage temperature and time on the distribution of anthocyanin compounds, and the total monomeric anthocyanin (TMA) content of Merlot wines were investigated at the beginning of storage and the following quarterly periods. The amount and distribution of delphinidin 3-glucoside, pelargonin 3-glucoside, malvidin 3-glucoside, cyanidin 3-glucoside, and peonidin 3-glucoside anthocyanins in wine samples were defined quantitatively by modifying HPLC method. When the change in TMA content in wines was evaluated, it was determined that there was a decrease of 13.77% at 4-5 °C, 24.28% at 8-10 °C, 43.93% at 12-14 °C, and 66.29% at 18-20 °C compared to the values before storage at the last of 24 months of storage.

Financial Performance Analysis and Valuation Assessment of Pt Bumi Resources in Comparison with Pt. Adaro Energy Tbk. and Pt. Bukit Asam Tbk. For Period of 2017-3rd Quarter of 2022

Financial Performance Analysis and Valuation Assessment of Pt Bumi Resources in Comparison with Pt. Adaro Energy Tbk. and Pt. Bukit Asam Tbk. For Period of 2017-3rd Quarter of 2022

Financial Performance Analysis and Valuation Assessment of Pt Bumi Resources in Comparison with Pt. Adaro Energy Tbk. and Pt. Bukit Asam Tbk. For Period of 2017-3rd Quarter of 2022

Indonesia is the third largest country in the world producing coal products. PT. Bumi Resource Tbk. (BUMI) is a coal industry company with the highest market capital, but its financial performance is not good when viewed from its net income in the 2017-3rd quarter of 2022. Financial ratio analysis is used to evaluate the company’s financial performance. This analysis uses the provisions of the ministry No.KEP-100/MBU/2002 which is divided into 4 factors, namely profitability, liquidity, activity and solvency ratio. Economic Value Added (EVA) and FCFF valuation are the methods used in this research. For external analysis, researchers use PEST analysis. The researcher found that BUMI’s financial performance was categorized as an unhealthy company based on its financial ratio analysis with an average rating of B. Based on the EVA method, BUMI’s financial performance was considered not good considering that its value was always negative. From the FCFF valuation, the Intrinsic Value of BUMI is IDR 250.29 when the current price is IDR 147. So, the BUMI company is concluded to be undervalued.

The effect of inclusion of companies in the sustainability index on the financial performances in the Covid period: a research on the automotive industry

Purpose- With this research, by examining many parameters that are effective in the automotive sector, answers are sought for what the companies in the sector will face in the future and how they can manage the crises. The effects of unpredictable problems in daily life on the automotive industry with Kovid 19 are examined. The aim of the research is to determine the effects of being included in the sustainability index while investigating the financial performance of the sector in extraordinary periods such as the Kovid 19 pandemic. The research aims both to shed light on the sector and to be a guide to be followed in order to increase financial performance in possible situations that affect large masses such as pandemics. Today, the financial performance of companies is of great importance for investors and shareholders. The success of the enterprise, in other words, the level of achievement of the objectives of the enterprise and its continuity are evaluated by performance measurement. When the financial performance calculations are examined in the studies, the capital structure, liquidity status, investments in fixed assets and sales are taken into consideration. In addition to these criteria, it is predicted that whether or not to be included in the sustainability index will also affect the financial performance. Methodology- In this study, the data of 23 companies in the Automotive Sector are taken into account. In this context, the data on the balance sheets and financial reports of these companies for the years 2018-2021 are handled in quarterly periods, for a total of 16 periods. The data is taken from the Public Disclosure Platform (KAP). Ratio calculations were made with the prepared data. The effect of the companies operating in the Automotive Sector in the sustainability index on their financial performance was analyzed using the "Independent Groups T Test" and "Mann Whitney U Test" in the SPSS program by using the Variables of Current Ratio, Financial Leverage, Return on Assets, Return on Capital, Net Profit Margin. Findings - In the analysis made according to whether they are included in the sustainability index or not, the significance levels of the following variables were determined to be less than 0.05: Return on Assets 0.032, Net Profit Margin 0.016, Current Ratio 0.00, Financial Leverage 0.00 Equity Return 0.003. It has been found that the companies' inclusion in the sustainability index has a statistically significant and positive effect on their financial performance. Conclusion- It has been concluded that being included in the sustainability index, which is calculated according to social, institutional and environmental factors, positively affects the financial statements of the companies. At the same time, it has been determined that the companies in this index use their assets effectively to generate profit. Keywords: Covid-19, financial performance, automotive sector JEL Codes: G10, G17