Predicting Financial Distress on Transportation Company Before and Under Pandemic Covid-19 in Indonesia

Aditya Amanda Pane; Sari Nuzullina Rahmadhani; Hasbiana Dalimunthe

doi:10.33395/owner.v6i3.1021

Authors

Aditya Amanda Pane Universitas Medan Area
Sari Nuzullina Rahmadhani Universitas Medan Area
Hasbiana Dalimunthe Universitas Medan Area

DOI:

10.33395/owner.v6i3.1021

Abstract

Covid-19 pandemic that hit Indonesia had an impact on various lines, including the transportation sector. The social restriction policy as an effort to break the chain of virus spread has the effect of decreasing the ability of transportation companies to maintain their sales. This study aims to determine the tendency of financial distress on transportation companies before and during Covid-19 pandemic. The population in this study are transportation companies listed on Indonesia Stock Exchange. The sampling method used in this research is purposive sampling. With the selected company criterias are people transportation company and the transportation companies have all the data needed in this research. There are 7 transportation companies with quarterly financial report data for 2019-2021. The total data used in this study were each 35 datas before and 35 datas during Covid-19 pandemic. The research method used is Cox Stuart Analysis for Trends to find out trends in the financial distress value. From the research conducted, the results show that 69% of the data shows that companies experienced financial distress before Covid-19 pandemic to 83% experienced financial distress during Covid-19 pandemic, while companies that did not experience financial distress experienced a decrease from 26% before Covid-19 pandemic to 14% during Covid-19 pandemic. The results of the Cox Stuart test show that there is a tendency to decrease the value of altman z-score that indicate an increase in financial distress from 7 transportation companies listed on the IDX before and during Covid-19 pandemic.

Downloads

Download data is not yet available.

Plum-X Analityc

References

Anggraeni, D. (2021). Dampak Pandemi COVID-19 Terhadap Sektor Moda Transportasi Darat (Bus AKAP). Jurnal Indonesia Sosial Teknologi, 2(7), 1146–1154. https://doi.org/10.36418/jist.v2i7.198

BPS. (2021). Statistik Transpotasi.

Cnnindonesia. (2020, April 17). Kematian Corona di Wuhan Melonjak Lagi, 1.290 Orang. https://www.cnnindonesia.com/internasional/20200417124305-113-494487/kematian-corona-di-wuhan-melonjak-lagi-1290-orang

Esomar, M. J. F., & Christianty, R. (2021). Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Perusahaan Sektor Jasa di BEI. Jkbm (Jurnal Konsep Bisnis Dan Manajemen), 7(2), 227–233. https://doi.org/10.31289/jkbm.v7i2.5266

Inmendagri Nomor 30 Tahun 2021, Pub. L. No. Nomor 30 Tahun 2021, 1 (2021).

Kazemian, S., Shauri, N. A. A., Sanusi, Z. M., Kamaluddin, A., & Shuhidan, S. M. (2017). Monitoring mechanisms and financial distress of public listed companies in Malaysia. Journal of International Studies, 10(1), 92–109. https://doi.org/10.14254/2071-8330.2017/10-1/6

Kementrian Perhubungan. (2020). Aman Bertransportasi Di Masa Pandemi?: Tantangan, Strategi, dan Kebijakan. In Webinar. Kementerian Perhubungan Republik Indonesia.

Komala, F., & Triyani, Y. (2019). Analisis Rasio Keuangan Terhadap Financial Distress Dengan Struktur Kepemilikan Sebagai Variabel Moderasi. Jurnal Akuntansi, 8(2), 176–205. https://doi.org/10.46806/ja.v8i2.619

Kushidayanti, A. N., & Nur, D. I. (2021). Prediksi Financial Distress pada Perusahaan Transportasi yang Terdaftar di Bursa Efek Indonesia. Revitalisasi: Jurnal Ilmu Manajemen, 10(1), 57–68.

Masdupi, E., Tasman, A., & Davista, A. (2018). The Influence of Liquidity, Leverage and Profitability on Financial Distress of Listed Manufacturing Companies in Indonesia. 57(Piceeba), 223–228. https://doi.org/10.2991/piceeba-18.2018.51

Nasional.kompas.com. (2020). Fakta Lengkap Kasus Pertama Virus Corona Di Indonesia. https://nasional.kompas.com/read/2020/03/03/06314981/fakta-lengkap-kasus-pertama-virus-corona-di-indonesia?page=all

Pasaribu, S. E., & Sinaga, L. (2020). Analisis Dampak Pandemi Covid-19 Terhadap Harga Saham PT Garuda Indonesia Persero (Tbk). JURNAL AKTIVA: Riset Akuntansi Dan Keuangan, 2(2), 44–50. https://aktiva.nusaputra.ac.id/article/view/67

PP Nomor 21 Tahun 2020, 21 Peraturan Pemerintah (2020). https://doi.org/10.4324/9780367802820

Rafsyanjani, R., & Wuryani, E. (2021). Analisis Harga Saham Perusahaan Transportasi DI BEI Sebelum dan Sesudah Covid-19. Jurnal Ilmu Komputer, Ekonomi Dan Manajemen (JIKEM), 1(1), 1–9.

Rahman, F. (2021). Analisis Prediksi Financial Distress dengan Menggunakan Model Sringate pada Perusahaan Properti dan Real Estate yang Terdaftar di BEI Periode 2019-2020. GOVERNANCE: Jurnal Ilmiah Kajian Politik Lokal Dan Pembangunan, 8(2), 77–84.

Rahman, R. A., Sulaiman, S., Fadel, E. S., & Kazemian, S. (2016). Earnings Management and Fraudulent Financial Reporting: The Malaysian Story. Journal of Modern Accounting and Auditing, 12(2), 91–101. https://doi.org/10.17265/1548-6583/2016.02.003

Sayari, N., & Mugan, C. S. (2017). Industry specific financial distress modeling. BRQ Business Research Quarterly, 20(1), 45–62. https://doi.org/10.1016/j.brq.2016.03.003

Song, H. J., Yeon, J., & Lee, S. (2021). Impact of the COVID-19 pandemic: Evidence from the U.S. restaurant industry. International Journal of Hospitality Management, 92(October 2020), 1–7. https://doi.org/10.1016/j.ijhm.2020.102702

Subramanyam, K. R. (2017). Analisa Laporan Keuangan (11th ed.). Salemba Empat.

Taufik, & Ayuningtyas, E. A. (2020). Dampak Pandemi Covid 19 Terhadap Bisnis Dan Eksistensi Platform Online. Jurnal Pengembangan Wiraswasta, 22(01), 21–32. https://doi.org/10.33370/jpw.v22i01.389