Firm Value, Economic Shock, and Pitfalls of Approach Analysis: The Case of Indonesian State-Owned Bank

Faizal Reza and Robby Prasetya Irawansyah
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Faizal Reza: Economics and Business Faculty, University of 17 Agustus 1945 Samarinda, Indonesia.
Robby Prasetya Irawansyah: Economics and Business Faculty, University of 17 Agustus 1945 Samarinda, Indonesia.

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Abstract: Economic shocks are believed to have a major impact on economic stability. The purpose of this study was to determine and analyze the effect of Liquidity, Leverage, Profitability and the Covid-19 pandemic on the firm value of state-owned banks listed on the Indonesia Stock Exchange (IDX). The data used is the financial statement data of state-owned banks listed on IDX for the 2011-2021 period. The population of this study are state-owned bank companies listed on the Indonesia Stock Exchange. Sampling in this study was carried out using purposive sampling method. Based on predetermined criteria, 44 data were obtained. The data analysis used in this research are Multiple Linear Regression Analysis and Data Panel, then at the end of analysis is also strengthened by Structural Break Test and Panel Cointegration Test. The results from Data Panel showed that Liquidity has a negative and significant effect on Firm Value, meanwhile Leverage and Profitability has insignificant effect on Firm Value. Structural Break Test and Panel Cointegration Test both strongly showed there is an impact the Covid-19 pandemic on Firm Value.

Date: 2024-01-13
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Published in Journal of Economics, Management and Trade, 2024, 30 (1), pp.34-47. ⟨10.9734/jemt/2024/v30i11188⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05101159

DOI: 10.9734/jemt/2024/v30i11188

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