Pengaruh Profitabilitas, Likuiditas, Struktur Modal,Dan Financial Distress Terhadap Nilai Perusahaan Sebelum Dan Selama Pandemi Covid-19 (Studi Empiris pada Perusahaan Sub Sektor Restoran, Hotel, dan Pariwisata yang terdaftar di BEI Tahun 2018-2021)

Abstract

The purpose of this study is to determine the effect of Profitability, Liquidity, Capital Structure, and Financial
Distress on Firm Value before and during the Covid-19 pandemic and to determine the difference in
Profitability, Liquidity, Capital Structure, and Financial Distress on Firm Value before and during the Covid19
pandemic
on
restaurant,
hotel,
and
tourism
sub-sector
companies
listed
on
the
Indonesia
Stock
Exchange
in

2018-2021.
The
data
used
in
this
study
is
secondary
data
obtained
from
the
financial
statements
of
restaurant,

hotel,
and
tourism
sub-sector
companies
listed
on
the
Indonesia
Stock
Exchange
for
2018-2021.
The
analysis

method
used
is
multiple
linear
regression.
The
results
of
this
study
show
that
Profitability
before
the
Covid-19

pandemic
had
a
negative
insignificant
effect
on
firm
value,
while
Profitability
during
the
Covid-19
pandemic

had

a positive insignificant effect on firm value. Liquidity before the Covid-19 pandemic had a negative
insignificant effect on firm value, while Liquidity during the Covid-19 pandemic had positive insignificant effect
on firm value. Capital Structure before the Covid-19 pandemic had a significant positive effect on firm value,
while Capital Structure during the Covid-19 pandemic had a significant positive effect on firm value. Financial
Distress before the Covid-19 pandemic had a significant positive effect on firm value, while Financial Distress
during the Covid-19 pandemic had a significant negative effect on firm value. There is no significant difference
between firm value before and during the Covid-19 pandemic.