Article Per Year (5 Year)
p-Index From 2021 - 2026
0.444
P-Index
This Author published in this journals
All Journal Jurnal Bisnis Mahasiswa International Journal of Applied Finance and Business Studies
Andita Sulistyowati
Universitas Siber Muhammadiyah, Yogyakarta, Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences Other

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
Manufacturing company turnaround during the covid-19 pandemic Andita Sulistyowati
International Journal of Applied Finance and Business Studies Vol. 11 No. 2 (2023): September : Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v11i2.94

Abstract

The financial distress situation experienced by several Indonesian companies has led them to work diligently in achieving corporate turnaround. However, this has been exacerbated by the presence of the COVID-19 pandemic, which not only affects Indonesia but the world as a whole, resulting in a sluggish global economy. This research aims to examine the influence of management ownership, independent commissioners, and free assets on corporate turnaround during the COVID-19 pandemic. The research sample consists of 45 manufacturing companies listed on the Indonesia Stock Exchange from 2018 to 2021, selected through purposive sampling. The analysis method employed in this study is logistic regression analysis. The research findings indicate that managerial ownership does not significantly affect corporate turnaround. On the other hand, independent commissioners and free assets have a significant and positive influence on corporate turnaround.
Financial health overview of pharmaceutical sector companies listed on IDX using profitability ratios before, during, and after the COVID-19 pandemic Amalina Nur Arifah; Andita Sulistyowati; Agniya Thahira
Jurnal Bisnis Mahasiswa Vol 6 No 1 (2026): Jurnal Bisnis Mahasiswa
Publisher : PT Aksara Indo Rajawali

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60036/jbm.1034

Abstract

Purpose – This paper analyzes the financial health of selected pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) using profitability ratios across periods before (2019), during (2020--2021), and after (2022) the Covid-19 pandemic, highlighting sector resilience amid economic shocks. Design/methodology/approach – A descriptive quantitative approach uses secondary data from audited financial statements of four companies: PT Darya-Varia Laboratoria Tbk (DVLA), PT Pyridam Farma Tbk (PYFA), PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO), and PT Tempo Scan Pacific Tbk (TSPC). Profitability ratios include Gross Profit Margin (GPM), Operating Profit Margin (OPM), Net Profit Margin (NPM), Operating Return on Assets (OROA), and Return on Equity (ROE), with peer-group comparisons and DuPont analysis. Findings – Profitability improved during the pandemic (2020--2021), driven by surging demand for health products. SIDO consistently outperformed peers. PYFA showed a strong recovery in 2022. GPM declined post-pandemic due to rising costs. Overall, the sector demonstrated counter-cyclical resilience. Research limitations – The study covers only four companies and focuses solely on profitability ratios, excluding liquidity, solvency, or macroeconomic modeling. Suggestions for future research include expanding the sample and incorporating additional metrics. Implications – Findings inform investors and policymakers on the pharmaceutical sector's resilience during crises and emphasize post-pandemic cost management strategies. Originality – This study fills a gap by extending profitability analysis into the post-pandemic period (2022) with peer benchmarking, providing a complete trajectory across pandemic phases.
Co-Authors Agniya Thahira Amalina Nur Arifah