The Impact of COVID-19 and company performance: Data from Indonesian high dividend issuer

Abstract

COVID-19 hit the world economy three times worse than the 2008 financial crisis. This pandemic has hurt the profitability of most corporations around the world, including Indonesia. However, several companies have managed to increase profitability amid the covid 19 pandemic. This study uses financial ratios related to profitability on the top 20 stocks with the Highest Dividend in the Indonesia Stock Exchange for the December 2019 to December 2020 period. Through Tobin's Q method, this study finds that, in general, Covid-19 decreases the performance of firms, but the firm in the health sector tends to increase.