Article Sidebar

Download
PDF
Statistic
Read Counter : 330 Download : 207

Main Article Content

Abstract

This study aims to analyze whether there are differences in Liquidity, Profitability, Solvency, Activity and Market Ratios between before and during the Covid-19 pandemic in Manufacturing Companies listed on the Indonesia Stock Exchange in the consumer goods industry sector in 2018-2021. The financial ratios used are Current Ratio, Debt to Equity Ratio, Gross Profit Margin, Total Assets Turnover, and Price Earnings Ratio. The samples were 43 companies using purposive sampling method for sampling. The type of data in this study is secondary data and data collection methods with documentation obtained from financial reports sourced from the Indonesia Stock Exchange. Data analysis techniques used descriptive statistical tests, normality tests, and hypothesis testing with the Paired Sample t-Test which was supported by the Wilcoxon Signed Rank Test. Data analysis using the Descriptive Statistical Test shows a decline in financial performance in 2020-2021 as a result of the co-19 pandemic. The results of the different tests in this study show that there are differences in the Debt to Equity Ratio and Gross Profit Margin. This is because the average income has decreased compared to before the Covid-19 pandemic, and companies cannot control their production costs and debts effectively. While the ratio of Current Ratio, Total Assets Turnover and Price Earnings Ratio there is no difference. The company is able to manage its assets quite well and can stabilize its share price.

Keywords

Covid-19 Current Assets Debt to Equity Ratio Gross Profit Margin Price Earning Ratio Total Assets Turnover

Article Details

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

By exercising the Licensed Rights, You accept and agree to be bound by the terms and conditions of this Creative Commons Attribution-NonCommercial 4.0 International Public License.

How to Cite
Widati, S., Wibowo, E. T., Yahya, A., & Safa’ah, N. (2023). Analysis of Financial Ratio Before and During Covid-19 in Consumer Goods Industry Sector 2018-2021. Kontigensi : Jurnal Ilmiah Manajemen, 11(1), 137-142. https://doi.org/10.56457/jimk.v11i1.332

References

  1. Adityamurti, E., & Ghozali, I. (2017). PENGARUH PENGHINDARAN PAJAK DAN BIAYA AGENSI TERHADAP NILAI PERUSAHAAN Enggar Adityamurti, Imam Ghozali 1. Diponegoro Journal of Accounting, 6, No 3(2010), 1–12.
  2. Amidu, M., Coffie, W., & Acquah, P. (2019). Transfer pricing, earnings management and tax avoidance of firms in Ghana. Journal of Financial Crime, 26(1), 235–259. https://doi.org/10.1108/JFC-10-2017-0091
  3. Amiram, D., Bauer, A. M., & Frank, M. M. (2019). Tax Avoidance at Public Corporations Driven by Shareholder Taxes: Evidence from Changes in Dividend Tax Policy. The Accounting Review, 94(5), 27–55.
  4. Andani, M., & Nurhayati, N. (2021). Pengaruh Ukuran Perusahan, Financial Distress, Resiko Litigasi Terhadap Konservatisme Akuntansi. Jurnal Ekonomi Dan Bisnis, 14(1), 206–224.
  5. Andreas, H. H., Ekonomika, F., Kristen, U., Wacana, S., Ekonomika, F., Kristen, U., & Wacana, S. (2017). KONSERVATISME AKUNTANSI DI INDONESIA. 20(1), 1–22.
  6. Ardillah, K., & Halim, Y. (2022). The Effect of Institutional Ownership , Fiscal Loss Compensation , and Accounting Conservatism on Tax Avoidance. Journal of Accounting Auditing and Business, 5(1), 1–15. https://jurnal.unpad.ac.id/jaab/article/view/37310
  7. Aurillya, S., Ulupui, I. G. K. A., Khairunnisa, H. (2020). PENGARUH GROWTH OPPORTUNITIES, INTENSITAS MODAL, DAN DEBT COVENANT. Jurnal Akuntansi, Perpajakan Dan Auditing, 2(3), 600–621.
  8. Bornemann, T. (2018). Tax Avoidance and Accounting Conservatism. U International Taxation Research Paper Series, 2018–04.
  9. Dang, V. C., & Tran, X. H. (2021). The impact of financial distress on tax avoidance: An empirical analysis of the Vietnamese listed companies. Cogent Business and Management, 8(1). https://doi.org/10.1080/23311975.2021.1953678
  10. Dwihartanti, A., Pratiwi, Putri, A., & Indrswono, C. (2021). Pengaruh Kepemilikan Institusional, Intensitas Modal Dan Intensitas Persaingan Terhadap Agresivitas Pajak. November.
  11. Ependi, H. (2020). Pengaruh Sales Growth, Profitabilitas, Leverage,Ukuran Perusahaan, Konservatisme Akuntansi,Intensitas Asset Tetap, Corporate Governance,Terhadap Tax Avoidance Terhadap Perusahaan Bumn Yang Terdaftar Di Bei Focus Terhadap Perusahaan Jasa Keuangan Dan As. Jurnal Prisma (Platform Riset Mahasiswa Akuntansi), 1(1), 79–85. https://ojs.stiesa.ac.id/index.php/prisma
  12. Fauzan, Arsanti, P. M. D., & Fatchan, I. N. (2021). The Effect of Financial Distress, Good Corporate Governance, and Institutional Ownership on Tax Avoidance (Empirical Study of Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange for the 2016-2019 Period). JURNAL Riset Akuntansi Dan Keuangan Indonesia, 6(2), 154–165. https://journals.ums.ac.id/index.php/reaksi/article/view/16126
  13. Fitriani, A., & Ruchjana, E. T. (2020). Pengaruh Financial Distress dan Leverage terhadap Konservatisme Akuntansi pada Perusahaan Retail di Indonesia. Jurnal Ekonomi Manajemen Akuntansi, 16(2), 82–93.
  14. Hakim, M. Z. (2017). Determinan Konservatisme Akuntansi Pada Industri Dasar Dan Kimia Periode 2012 - 2014. COMPETITIVE Jurnal Akuntansi Dan Keuangan, 1(1), 111. https://doi.org/10.31000/competitive.v1i1.110
  15. Hardiyanti, F., Azmi, Z., & Ahyarudin, M. (2022). THE EFFECT OF DEBT COVENANT, LEVERAGE, GROWTH OPPORTUNITIES AND FINANCIAL DISTRESS ON ACCOUNTING CONSERVATISM. Jurnal Ilmiah Akuntansi, 6(8.5.2017), 2003–2005.
  16. Hasan, M. M., Al-Hadi, A., Taylor, G., & Richardson, G. (2017). Does a Firm’s Life Cycle Explain its Propensity to Engage in Corporate Tax Avoidance? Europan Accounting Review, 26(3), 469–501.
  17. Herry. (2017). Kajian Riset Akuntansi. PT Grasindo, Jakarta.
  18. Hertina, N. R., & Zulaikha. (2017). Analisis Penerapan Konservatisme Akuntansi Di Indonesia Dalam Perspektif Positive Accounting Theory. Diponegoro Journal of Accounting, 6(3), 1–10.
  19. Hotimah, H. H. H., & Retnani, E. D. (2018). Pengaruh Kepemilikan Manajerial Ukuran Perusahaan, Rasio Leverage, Intensitas Modal terhadap Konservatisme Akuntansi. Jurnal Ilmu Dan Riset Akuntansi , Vol .7, Nomor 10.e-ISSN : 2460-0585, 7(10), 1–19.
  20. Jingga, V., & Lina, L. (2017). Factors Influencing Tax Avoidance Activity: An Empirical Study from Indonesia Stock Exchange. Indian-Pacific Journal of Accounting and Finance, 1(1), 17–25. https://doi.org/10.52962/ipjaf.2017.1.1.3
  21. Jumailah, V. (2020). Pengaruh Thin Capitalization dan Konservatisme Akuntansi terhadap Tax Avoidance dengan Kepemilikan Institusional sebagai Variabel Moderasi. Management & Accounting Expose, 3(1), 13–21. https://doi.org/10.36441/mae.v3i1.132
  22. Kasim, F. M., & Saad, N. (2019). Determinants of Corporate Tax Avoidance Strategies among Multinational Corporations in Malaysia. International Journal of Public Policy and Administration Research, 6(2), 74–81. https://doi.org/10.18488/journal.74.2019.62.74.81
  23. Kompas. (2020). Jejak Hitam PT. Hanson Internasional, Manipulasi Laporan Keuangan 2016.
  24. Loen, M. (2021). PENGARUH FINANCIAL DISTRESS DAN LEVERAGE TERHADAP KONSERVATISME AKUNTANSI PADA PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2016 – 2019. Jurnal Akuntansi Dan Bisnis Krisnadwipayana, 8(2).
  25. Manika, F., Ab, A., & Kusmayadi, I. (2017). ANALISIS FINANCIAL DISTRESS PERUSAHAAN SEMEN DI BEI PERIODE 2011-2015. Jurnal Ilmu Manajemen Dan Bisnis, 5(2), 24.
  26. Maulana, M., Marwa, T., & Wahyudi, T. (2018). The Effect of Transfer Pricing, Capital Intensity and Financial Distress on Tax Avoidance with Firm Size as Moderating Variables. Modern Economics, 11(1), 122–128. https://doi.org/10.31521/modecon.v11(2018)-20
  27. Mitnick, B. M. (2015). Agency Theory. Wiley Encyclopedia of Management, 1–6. https://doi.org/10.1002/9781118785317.weom020097
  28. Mukhid, D. A. (2021). Metodologi Penelitian Pendekatan Kuantitatif. CV. Jakad Media Publishing.
  29. Nadhifah, M., & Arif, A. (2020). Transfer Pricing, Thin Capitalization, Financial Distress, Earning Management, dan Capital Intensity Terhadap Tax Avoidance Dimoderasi oleh Sales Growth. Jurnal Magister Akuntansi Trisakti, 7(2), 145–170. https://doi.org/10.25105/jmat.v7i2.7731
  30. Ningsih, A. N. (2020). Aset Tetap Dan Konservatisme Akuntansi Terhadap Tax Avoidance. EkoPreneur, 1(2), 245–256.
  31. Noviani, I., & Homan, H. S. (2021). Pengaruh Debt Covenant dan Growth Opportunities Terhadap Konservatiame Akuntansi (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2013-2017). Jurnal Riset Akuntansi Dan Perbankan, 15(2), 577–596.
  32. Nuryeni, S., & Hidayati, W. N. (2021). Pengaruh Konservatisme Akuntansi, Capital Intensity dan Financial Distress Terhadap Tax Avoidance. SAKUNTALA Prosiding Sarjana Akuntansi Tugas Akhir Secara Berkala, 1(1), 548–570. http://openjournal.unpam.ac.id/index.php/SAKUNTALA
  33. Pahriyani, R. A., & Aisah, A. N. (2020). Pengaruh Ukuran Perusahaan, Leverage, Dan Financial Distressterhadap Konservatisme Akuntansi Pada Perusahaan Manufaktur Industri Barang Dan Konsumsi Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Manajemen Dan Akuntansi, 21(2), 40–50.
  34. Pangestu, S. H., & Pratomo, D. (2020). Capital Intensity Terhadap Tax Avoidance Dengan Profitabilitas, Size Dan Leverage Sebagai Variabel Kontrol. Jurnal Akuntansi Dan Ekonomi, Vol. 5, 26–34. https://doi.org/10.29407/jae.v5i3.14182
  35. Paramita, R. W. D., Rizal, N., & Sulistyan, R. B. (2021). Metode Penelitian Kuantitatif (Ketiga). WIDYA GAMA PRESS.
  36. Pattiasina, V., Tammubua, M. H., Numberi, A., Patiran, A., & Temalagi, S. (2019). Capital Intensity and tax avoidance. International Journal of Social Sciences and Humanities, 3(1), 58–71. https://doi.org/10.29332/ijssh.v3n1.250
  37. Primadani, N. M. L., & Ariasih, N. K. (2021). Rancang Bangun Sistem Prediksi Financial Distress Menggunakan Metode Altman Z-Score Modifikasi Pada Koperasi XYZ. INFORMAL: Informatics Journal, 6(2), 72. https://doi.org/10.19184/isj.v6i2.23710
  38. Priyono, M. Y. V., & Suhartini, D. (2022). PENGARUH FIRM SIZE, CASH FLOW, LEVERAGE, GROWTH OPPORTUNITY, DAN PROFITABILITY TERHADAP KONSERVATISME AKUNTANSI. JAMBURA ECONOMIC EDUCATION JOURNAL, 4(1), 51–65.
  39. Raflis, R., & Arita, E. (2021). Impak Struktur Modal, Struktur Kepemilikkan dan Karakteristik Perusahaan Terhadap Financial Distress dan Financial Health Perusahaan. Jurnal Ekonomi Dan Bisnis Dharma Andalas, 23(1), 135–149. https://doi.org/10.47233/jebd.v23i1.199
  40. Rahayu, S. K. (2020). Perpajakan Konsep, Sistem dan Implementasi Edisi Revisi. Rekayasa Sains.
  41. Rini Tri Hastuti, R. N. W. (2020). Pengaruh Kepemilikan Manajerial, Tingkat Hutang Dan Growth Opportunities Terhadap Konservatisme Akuntansi. Jurnal Paradigma Akuntansi, 2(3), 1130. https://doi.org/10.24912/jpa.v2i3.9539
  42. Sadjiarto, A., Hartanto, S., . N., & Octaviana, S. (2020). Analysis of the Effect of Business Strategy and Financial Distress on Tax Avoidance. Journal of Economics and Business, 3(1). https://doi.org/10.31014/aior.1992.03.01.193
  43. Saputra, J., & Purwatiningsih. (2022). Pengaruh pertumbuhan penjualan, konservatisme akuntansi, dan kompensasi rugi fiskal terhadap tax avoidance. Scientific Journal Of Reflectiion, 5(4), 951–960.
  44. Saputri, F. A. (2018). PENGARUH PROFITABILITAS, LEVERAGE, INTENSITAS MODAL DAN PROPORSI DEWAN KOMISARIS INDEPENDEN TERHADAP TAX AVOIDANCE. Jurnal Ekobis Dewantara, 1(6), 171–180.
  45. Savitri, E. (2016). Konservatisme Akuntansi: Cara Pengukuran, Tinjauan Empiris dan Faktor-Faktor yang Mempengaruhinya. In Musfialdi (Ed.), Konservatisme Akuntansi: Cara Pengukuran, Tinjauan Empiris dan Faktor-Faktor yang Mempengaruhinya. PUSTAKA SAHILA YOGYAKARTA.
  46. Shaheen, S., & Malik, Q. A. (2019). The Impact of Capital Intensity , Size of Firm And Profitability on Debt Financing In Textile Industry of Pakistan The Impact of Capital Intensity , Size of Firm And Profitability on Debt Financing In Textile Industry of Pakistan Sadia Shaheen ( Principal. Interdisciplinary Journal of Contemporary Research in Business, 3(10).
  47. Sjahputra, A. (2019). Determinan Tax Avoidance Pada Perusahaan Food and Beverages Di Indonesia. SCIENTIFIC JOURNAL OF REFLECTION: Economic, Accounting, Management and Business, 2(4), 371–380. https://doi.org/10.5281/zenodo.3472234
  48. Solihin, S., Saptono, S., Yohana, Y., Yanti, D. R., & Kalbuana, N. (2020). the Influence of Capital Intensity, Firm Size, and Leverage on Tax Avoidance on Companies Registered in Jakarta Islamic Index. International Journal of Economics, Business and Accounting Research (IJEBAR), 4(03), 272–278. https://doi.org/10.29040/ijebar.v4i03.1330
  49. Sundari, N., & Aprilina, V. (2017). Pengaruh Konservatisme Akuntansi, Intensitas Aset Tetap, Kompensasi Rugi Fiskal Dan Corporate Governanace Terhadap Tax Avoidance. JRAK: Jurnal Riset Akuntansi Dan Komputerisasi Akuntansi, 8(1), 85–109. https://doi.org/10.33558/jrak.v8i1.861
  50. Tilehnouei, M. H., Esfahani, S. T., & Soltanipanah, S. (2018). Investigating the Effect of Financial Distress on Tax Avoidance during the Global Financial Crisis in Companies Listed on Tehran Stock Exchange. International Journal of Finance and Managerial Accounting, 3(9), 41–51. https://www.researchgate.net/publication/327366938
  51. Ursula, E. A., & Vitta Adhivinna, V. (2018). PENGARUH KEPEMILIKAN MANAJERIAL UKURAN PERUSAHAAN, LEVERAGE, DAN GROWTH OPPORTUNITIES TERHADAP KONSERVATISME AKUNTANSI. Jurnal Akuntansi, 6(2).
  52. Yahya, A., Agustin, E. G., & Nurastuti, P. (2022). Firm Size, Capital Intensity dan Inventory Intensity terhadap Agresivitas Pajak. Jurnal Eksplorasi Akuntansi (JEA), 4(3), 574–588.
  53. Yahya, A., Permatasari, M. D., Hidayat, T., Fahruroji, M., Bangsa, U. P., & Akuntansi, P. S. (2021). Tax Avoidance : Good Corporate Governance dan Kualitas Audit. 15(02), 95–105.
  54. Yuniarsih, N. (2018). The Effect Of Accounting Coservatism and Corporate Governance Mechanism On Tax Avoidance. Academic Research International, 9(3), 68–76.