Proceedings of the 3rd Economics and Business International Conference, EBIC 2022, 22 September 2022, Medan, North Sumatera, Indonesia

Research Article

Comparison of The Impact of Covid-19 on The Probability of Financial Distress between Health and Tourism Companies

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  • @INPROCEEDINGS{10.4108/eai.22-9-2022.2337417,
        author={Brigitte Natiar Sitanggang and Harry Indra S. Lubis and Jessie Tessalonica Hutabarat and Khaira Amalia Fachrudin},
        title={Comparison of The Impact of Covid-19 on The Probability of Financial Distress between Health and Tourism Companies},
        proceedings={Proceedings of the 3rd Economics and Business International Conference, EBIC 2022, 22 September 2022, Medan, North Sumatera, Indonesia},
        publisher={EAI},
        proceedings_a={EBIC},
        year={2024},
        month={4},
        keywords={covid-19 probability of financial distress health and tourism sector},
        doi={10.4108/eai.22-9-2022.2337417}
    }
    
  • Brigitte Natiar Sitanggang
    Harry Indra S. Lubis
    Jessie Tessalonica Hutabarat
    Khaira Amalia Fachrudin
    Year: 2024
    Comparison of The Impact of Covid-19 on The Probability of Financial Distress between Health and Tourism Companies
    EBIC
    EAI
    DOI: 10.4108/eai.22-9-2022.2337417
Brigitte Natiar Sitanggang1,*, Harry Indra S. Lubis1, Jessie Tessalonica Hutabarat1, Khaira Amalia Fachrudin1
  • 1: Universitas Sumatera Utara
*Contact email: brigittenatiarsitanggang@gmail.com

Abstract

Covid-19 is a disease outbreak that has damaged the sustainability of many companies, but behind these losses there are actually benefits that are obtained by several sectors, one of the example which can be seen in the income level of several sectors such as the tourism sector and the health sector. The probability of financial distress can be one of the factors that represent the company's performance in maintaining its stability. This research aims to analyze the comparison of levels of financial distress before, during, and after Covid-19 in Health and Tourism sector companies listed on the Indonesia Stock Exchange (IDX) for the 2019-2021 period. The sample consists of 18 companies from the health sector and 23 companies from the tourism sector. This research is an event study method and uses the Khaira Model to determine the probability of a company's financial distress. The Results Obtained In 2019 and 2020 the probability level of financial distress for health and tourism companies is still relatively healthy and there is no significant difference. However, in 2021 the probability level of health financial distress is better than tourism and there is a significant difference