FINANCIAL PERFORMANCE OF HEALTHCARE SECTOR COMPANIES PRIOR AND DURING THE COVID-19 PANDEMIC
Abstract
Every business must assess its performance over a time period to determine where it stands in relation to other businesses. Some businesses’ performance has decreased since the Covid-19 epidemic, while other businesses’ performance has improved. The purpose of this study is to evaluate the healthcare industry’s financial performance before and during the Covid-19 epidemic. Purposive sampling was used to choose 10 healthcare related firms from the Indonesia Stock Exchange for the 2018-2021 period. Data analysis utilizing the paired sample t test and Wilcoxon Signed Rank, respectively, depending on whether the data are normally distributed or not. The results showed that there were differences in performance in liquidity, solvency, and profitability ratio, especially the average liquidity ratio (Current Ratio) decreased from 3.378 to 2.952, the average solvency ratio (Debt to Asset Ratio) increased from 0.281 to 0.329, and the average profitability ratio (Return on Assets) increased from 0.073 to 0.095 between before and during the Covid-19 pandemic. Meanwhile the activity ratio (Total Asset Turnover) shows no difference in performance before and during the Covid-19 pandemic
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