Analysis of Soe Financial Distress Before And During Covid-19 Pandemic Listed On The Indonesia Stock Exchange Period 2019-2022 (Empirical Study on Non-Manufacturing SOEs)

Abstract

This study aims to determine whether there is a significant difference between the level of financial distress of Non-Manufacturing SOEs listed on the Indonesia Stock Exchange for the period 2019–2022 and the period before and during the COVID-19 pandemic. This study is a quantitative study through secondary data examination. The population of this study is state-owned enterprises that do not carry out manufacturing activities. Using a purposive selection approach, six sample companies were selected from the financial services, transportation services, communication services, and construction services sectors. The data analysis procedures used were the Wilcoxon Signed Rank Test, Normality Test, and Altman Z-Score. The results of the study using the Altman Z-Score methodology showed that there was no statistically significant variation in the level of financial distress experienced by Non-Manufacturing SOEs listed on the Indonesia Stock Exchange before and during the COVID-19 pandemic.