Citation:

Ani Maryani, Tri Joko Prasetyo, Reni Oktavia. "Affecting Factors the Level of Financial Recovery of Tourism and Transportation Companies Impact of COVID-19" International Research Journal of Economics and Management Studies, Vol. 2, No. 2, pp. 453-460, 2023.

Abstract:

The goal of this study is to identify the characteristics that influence the financial recovery level of tourism and transportation enterprises affected by Covid-19. This study included 56 firms as a sample. Purposive sampling was used as a sample strategy. The data used in this study is secondary. For the 2020-2021 research period, the population used Tourism and Transportation firms registered on the Indonesia Stock Exchange. The logistic regression approach and an extra test with the mean difference test were used to analyse the data. According to the findings of this study, partially free cash flow, leverage, and sales growth variables have no meaningful effect on financial recovery. Variables such as gross profit margin and business size have a favourable and significant impact on financial recovery. Free cash flow, leverage, gross profit margin, firm size, and sales are all measured concurrently. Variables such as gross profit margin and business size have a favourable and significant impact on financial recovery. Financial recovery is influenced by characteristics such as free cash flow, leverage, gross profit margin, firm size, and sales growth.

References:

[1] Afiezan, A., Wijaya, G., Priscilia, P., & Claudia, C. (2020). The Effect of Free Cash Flow, Company Size, Profitability and Liquidity on Debt Policy for Manufacturing Companies Listed on IDX in 2016-2019 Periods. Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 3(4), 4005–4018. https://doi.org/10.33258/birci.v3i4.1502
[2] Arnita, V., & Aulia. (2020). Prekdisi Pertumbuhan Laba dalam Rasio Keuangan Pada PT Japfa Comfeed Tbk. Jurnal Akuntansi Bisnis Dan Publik, 11(1), 1–10.
[3] Basyaib, F. (2007). Keuangan Perusahaan Pemodelan Menggunakan Microsoft Excel (Edisi 1). Kencana Prenada Media Group.
[4] Bionda, A. R., & Mahdar, N. M. (2017). Pengaruh Gross Profit Margin, Net Profit Margin, Return on Asset, dan Return on Equity terhadap Pertumbuhan Laba pada Perusahaan Manufaktur di Bursa Efek Indonesia. Jurnal Bisnis Dan Komunikasi, 4(1), 10–16.
[5] Brigham, E. F., & Houston, J. F. (2018). Dasar-dasar manajemen keuangan (14th ed.). Salemba Empat.
[6] Butar-Butar, N. A., Sadalia, I., & Irawati, N. (2019). Determinant of Corporate Turnaround: A Review Study. Advances in Economics, Business and Management Research, 100(Icoi), 532–536. https://doi.org/10.2991/icoi-19.2019.93
[7] Downey, J. (2009). Corporate turnaround. In Chartered Institute of Management Accountants (Vol. 59, Issue 59). http://linkinghub.elsevier.com/retrieve/pii/0024630194902674
[8] Fahmi, I. (2013). Analisis Laporan Keuangan (Ketiga). Alfabeta.
[9] Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25 (IX). Badan Penerbit Universitas Diponegoro.
[10] Hartono, J. (2022). Portofolio dan Analisis Investasi (Edisi 2).
[11] Hidayat, W. W. (2018). Dasar-Dasar Analisa Laporan Keuangan (F. Fabri (ed.)). Uwais Inspirasi Indonesia.
[12] Kasmir. (2018). Analisis Laporan Keuangan. In Jakarta: PT Raja Grafindo Persada.
[13] Komarudin, M., & Affandi, N. (2019). Free Cash Flow Kinerja Keuangan Dan Agency Cost Pada Perusahaan Perdagangan Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Ilmiah Ekonomi, Manajemen Dan Akuntansi, 8(2), 10–19.
[14] Kumalasari, D., Angelia, N., & Christiawan, Y. J. (2021). Pertumbuhan Penjualan dan Kinerja Keuangan Perusahaan: Peran Moderasi Pengawasan Komisaris Independen. Business Accounting …. https://publication.petra.ac.id/index.php/akuntansi-bisnis/article/view/11941
[15] Lestari, R. D., & Triani, N. N. A. (2014). Determinan Keberhasilan Turnaround pada Perusahaan yang Mengalami Financial Distress. Jurnal Bisnis Dan Manajemen, 6(1), 130–138. https://www.researchgate.net/publication/327772999_Determinan_Keberhasilan_Turnaround_pada_Perusahaan_yang_Mengalami_Financial_Distress
[16] Mardaningsih, D., Nurlaela, S., & Wijayanti, A. (2021). Pengaruh Leverage, Likuiditas, Firm Size dan Sales Growth terhadap Kinerja Keuangan pada Perusahaan LQ45. Jurnal Ekonomi, Keuangan Dan Manajemen, 17(1), 47–53. https://journal.feb.unmul.ac.id/index.php/INOVASI/article/view/9133
[17] Mule, R. K., & Mukras, M. S. (2015). Financial Leverage And Performance Of Listed Firms In A Frontier Market: Panel Evidence From Kenya. European Scientific Journal March, 11(7), 534–550.
[18] Nastiti, P. R., & Pangestuti, I. R. D. (2016). Pengaruh Ukuran Perusahaan, Free Assets, Assets Retrenchment, Pergantian Ceo, Dan Leverage Terhadap Corporate Turnaround (Studi Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode Tahun 2008-2013). Diponegoro Journal of Management, 5(1995), 1–12. http://ejournal-s1.undip.ac.id/index.php/dbr
[19] Ompusunggu, H., & Wage, M. S. (2021). Manajemen Keuangan.
[20] Pascarina, M. Y., A, R. A. S. S., & Azhar, A. (2016). Pengaruh Rasio Keuangan Terhadap Pertumbuhan Laba Pada Perusahaan Industri Penghasil Bahan Baku Yang Terdaftar Di BEI Periode 2011-2013. Jurnal Online Mahasiswa Fakultas Ekonomi Universitas Riau, 3(1), 1324–1335.
[21] Prabasari, B., & Amalia, N. R. (2022). Pengaruh Sales Growth Dan Capital Structure Terhadap Financial Perfomance. Jurnal Ilmiah Bidang Ilmu Ekonomi, 20(3), 230–235.
[22] Quan, V. C., & Ardiansyah. (2020). Pengaruh Financial Leverage , Firm Size Dan Free Cash Flow Terhadap Financial Performance. Jurnal Multiparadigma Akuntansi Tarumanagara, 2(April), 920–929.
[23] Raines, F., Kristien, R., Rosmayanti, S., & Sugiyanto. (2022). Analisis Faktor-Faktor yang Mempengaruhi Keberhasilan Proses Turnaround Pada Perusahaan yang Mengalami Financial Distress. Humanities, Management, and Science Proceedings (HUMANIS), 2(2), 302–311. http://www.openjournal.unpam.ac.id/index.php/SNH
[24] Rudianto. (2021). Analisis Laporan Keuangan (Reguler). Penerbit Erlangga.
[25] Septiyani, K. (2018). Pengaruh Ukuran Perusahaan, Free Assets, Penghematan Aset, Dan Penghematan Biaya Terhadap Corporate Turnaround Pada Perusahaan Manufaktur Di Indonesia. STIE Perbanas Surabaya, 0–16.
[26] Staubus, G. J. (2000). The Decision-usefulness Theory of Accounting: A Limited History A Garland series New works in accounting history (Berilustra). Psychology Press.
[27] Sutisman, E., Wahyuni, N., Dewi, R. S., Sutisna, E., Ermawati, Y., & Rahayu, Y. (2022). Manajemen Keuangan 2 (Y. Welly (ed.)).

Keywords:

Financial Recovery, Free Cash Flow, Leverage, Gross Profit Margin, Firm Size, Sales Growth.