Analyzing financial distress in the Indonesian Tourism Sector: A case study during the COVID-19 Pandemic

Authors

  • Maria Angelina Laurenzia Viviani Konten Diploma in Banking and Finance, Faculty of Economics and Business, University of Merdeka Malang
  • Sari Yuniarti Diploma in Banking and Finance, Faculty of Economics and Business, University of Merdeka Malang

DOI:

https://doi.org/10.26905/jp.v20i1.11277

Keywords:

COVID-19, Financial distress, Tourism

Abstract

The COVID-19 pandemic has had a significant negative impact on the financial state of various businesses in the Indonesian tourism industry. To prevent bankruptcy from occurring, it is important to assess the financial situation of affected companies to estimate financial distress. This research aims to analyze the effect of return on assets, current ratio, and debt to total asset ratio on financial distress conditions in tourism sub-sector service companies listed on the Indonesia Stock Exchange for the 2019-2022 period. The population in this research were all tourism sub-sector service companies listed on the Indonesia Stock Exchange that published their financial reports in 2019-2022. The sample was searched by purposive sampling and there were 32 companies and obtained 128 observation data consisting of 112 samples of financial distress companies and 16 samples of non-financial distress companies. Financial distress criteria are measured by interest coverage ratio. The statistical analysis used in this research is logistic regression. The results of this research indicate that partial return on assets and debt to total asset ratio affect financial distress, while the current ratio does not affect financial distress. Simultaneously return on assets, current ratio, and debt to total asset ratio affect financial distress.

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Published

2023-08-29

How to Cite

Konten, M. A. L. V., & Yuniarti, S. (2023). Analyzing financial distress in the Indonesian Tourism Sector: A case study during the COVID-19 Pandemic. Jurnal Penelitian, 20(1), 55–68. https://doi.org/10.26905/jp.v20i1.11277

Issue

Vol. 20 No. 1 (2023): June 2023

Section

Social and Humaniora

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