Rianghepat, Mariana Ayu Damayanti (2025) Perbandingan Kinerja Keuangan Dan Kinerja Pasar Pada Perusahaan Farmasi Di Bursa Efek Indonesia Sebelum Dan Selama Pandemi. Masters thesis, Universitas Hayam Wuruk Perbanas.
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Abstract
This study aims to analyze the differences in financial performance and market performance of pharmaceutical companies listed on the Indonesia Stock Exchange before and during the COVID-19 pandemic. The analysis is conducted using financial ratios based on the companies' quarterly reports for the period 2017–2022. The results indicate that liquidity ratios remained stable during the pandemic, reflecting the resilience of the pharmaceutical sector in maintaining a balance between current assets and liabilities. Profitability ratios, particularly Return on Assets (ROA), showed no significant changes, while the Net Profit Margin (NPM) increased in the medium to long term due to economies of scale, product diversification, and rising prices of essential pharmaceutical products. Leverage ratios did not exhibit notable changes in the short term but increased in aggregate due to investments in production capacity and research. Activity ratios also showed no significant differences at the beginning of the pandemic but demonstrated improved efficiency in the mid-to-late pandemic period. Regarding market performance, Price to Book Value (PBV) and Price to Earnings Ratio (PER) did not show significant differences, indicating that investors had anticipated the resilience of the pharmaceutical sector during the pandemic. This stability suggests that despite the increased demand for pharmaceutical products, market valuations did not experience speculative surges. Overall, this study confirms that the pharmaceutical sector maintained strong financial resilience during the pandemic, in contrast to many other sectors that faced significant financial pressure. Keywords: Financial Performance, Market Performance, Pharmaceutical Companies, Covid-19 Pandemic.
| Item Type: | Thesis (Masters) |
|---|---|
| Subjects: | 600 - TECHNOLOGY > 650 - 659 MANAGEMENT & PUBLIC RELATIONS > 658 - GENERAL MANAGEMENT > 658.151 1 - MANAGEMENT ACCOUNTING |
| Divisions: | Magister of Management |
| Depositing User: | MARIANA AYU DAMAYANTI RIANGHEPAT |
| Date Deposited: | 17 Apr 2025 01:37 |
| Last Modified: | 17 Apr 2025 01:37 |
| URI: | http://eprints.perbanas.ac.id/id/eprint/13510 |
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