Jakarta Islamic Index: Covid-19 Pandemic And Potential Financial Distress

AVIANTO NUGROHO, 040217479 and Wasiaturrahma, Dr and Putri Anggia, - (2021) Jakarta Islamic Index: Covid-19 Pandemic And Potential Financial Distress. Jurnal Ekonomi dan Bisnis Islam (JEBIS), 7 (2). pp. 210-230. ISSN 2442-6563; eISSN: 2527-3027

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Official URL: https://e-journal.unair.ac.id/JEBIS/article/view/2...

Abstract

his research aims to analyze the potential for financial distress of Islamic companies that are included in the Jakarta Islamic Index during pandemic of COVID-19, which is using profitability ratios, liability ratios, and liquidity ratios (Zwesky's Model). The sample is quarterly (2019 to 2020) and it is using the Generalized Method of Moments (GMM) panel data model approach that was developed by Arellano and Bond (1991). The results of this study indicate that the profitability ratio has the most influence on corporate financial distress and from the overall this research occurs in the process of decreasing company financial performance during pandemic of COVID-19. Moreover, there is one company that indicates financial distressed, there are twenty-two companies that experienced a decline in financial performance, but there are 7 companies that experiences better financial performance when the COVID-19 pandemic occurred. In one hand, this shows that COVID-19 has a broad effect on the decline in the financial performance of sharia companies. On the other hand, it has a positive impact on certain companies that works specifically in sectors which is related to information technology.

Item Type: Article
Uncontrolled Keywords: COVID-19, Financial Distress, Liability, Liquidity, Profitability, Zwesky Model.
Subjects: H Social Sciences
H Social Sciences > HG Finance
Divisions: 04. Fakultas Ekonomi dan Bisnis > Doktoral Ilmu Ekonomi
Creators:
CreatorsNIM
AVIANTO NUGROHO, 040217479UNSPECIFIED
Wasiaturrahma, DrUNSPECIFIED
Putri Anggia, -UNSPECIFIED
Depositing User: Tn Sugeng Riyanto
Date Deposited: 08 Aug 2022 00:49
Last Modified: 18 Oct 2022 02:24
URI: http://repository.unair.ac.id/id/eprint/117342
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