PERFORMANCE VARIABILITY OF STATE OWNED ENTERPRISES IN FINANCIAL SECTOR AND FINANCIAL TECHNOLOGY COMPANIES DURING THE COVID-19 PANDEMIC
Downloads
This study aims to provide empirical evidence related with financial
sector performance and the development of fintech lending in
Indonesia during the Covid-19 pandemic. The sample consisted of
4 State-Owned Enterprises (BUMN) in the financial sector and 149
financial technology (fintech) companies registered in the Financial
Services Authority (OJK). This research used descriptive statistics.
The results show that during the Covid-19 pandemic, the
performance of State-Owned Enterprises (SOEs) in the financial
sector and financial technology companies (fintech) has increased.
However, the increase in the performance of State-Owned
Enterprises (SOEs) in the financial sector and financial technology
(fintech) companies during pandemic was still below the
performance increase before the Covid-19 pandemic in Indonesia.
Alber, N., & Dabour, M. (2020). The Dynamic Relationship between FinTech and Social Distancing under COVID-19 Pandemic: Digital Payments Evidence. International Journal of Economics and Finance, 12(11), 109–117. https://doi.org/10.5539/ijef.v12n11p109
Anh, D. L. T., & Gan, C. (2020). The impact of the COVID-19 lockdown on stock market performance: evidence from Vietnam. Journal of Economic Studies, a-head of(a-head of print). https://doi.org/10.1108/JES-06-2020-0312
Bareksa. (2020). CCAF Study : Industri Fintech Global Tetap Bertumbuh Selama Pandemi. https://www.bareksa.com/berita/pasar-modal/2020-12-04/ccaf-study-industri-fintech-global-tetap-bertumbuh-selama-pandemi
Braune, E., Sahut, J. M., & Teulon, F. (2020). Intangible capital, governance and financial performance. Technological Forecasting and Social Change, 154(January 2019), 119934. https://doi.org/10.1016/j.techfore.2020.119934
Demirguc-kunt, A., Pedraza, A., & Ruiz-Ortega, C. (2020). Banking Sector Performance During the COVID-19 Crisis. World Bank Policy Research Working Paper 9363., August.
Devi, S., Warasniasih, N. M. S., & Masdiantini, P. R. (2020). The Impact of COVID-19 Pandemic on the Financial Performance of Firms on the Indonesia Stock Exchange. Journal of Economics, Business, & Accountancy Ventura, 23(2), 226–242. https://doi.org/10.14414/jebav.v23i2.2313
Didier, T., Huneeus, F., Larrain, M., & Schmukler, S. L. (2021). Financing firms in hibernation during the COVID-19 pandemic. Journal of Financial Stability, 53, 1–14. https://doi.org/10.1016/j.jfs.2020.100837
Donald R. Cooper, & Pamela S. Schindler. (2014). Business Research Methods (Twelfth Ed). McGraw-Hill/Irwin.
El-Gilany, A. H. (2021). COVID-19 caseness: An epidemiologic perspective. Journal of Infection and Public Health, 14(1), 61–65. https://doi.org/10.1016/j.jiph.2020.11.003
Farzami, Y., Gregory-Allen, R., Molchanov, A., & Sehrish, S. (2021). COVID-19 and the liquidity network. Finance Research Letters, article in(article in press). https://doi.org/10.1016/j.frl.2021.101937
Fassas, A., Bellos, S., & Kladakis, G. (2021). Corporate liquidity , supply chain and cost issues awareness within the Covid-19 context : evidence from us management reports ' textual analysis. Corporate Governance, A head of(A head of print). https://doi.org/10.1108/CG-09-2020-0399
Fisabilillah, L. W. P., & Hanifa, N. (2021). Analisis Pengaruh Fintech Lending Terhadap Perekonomian Indonesia. Indonesian Journal of ..., 1(3), 154–159. https://doi.org/10.31960/ijoeei.v1i3.866
Fu, J., & Mishra, M. (2020a). Fintech in the time of COVID-19: Trust and technological adoption during crises. Swiss Finance Institute Research Paper Series, December, 1–56. https://ssrn.com/abstract=3588453
Fu, J., & Mishra, M. (2020b). The Global Impact of COVID-19 on Fintech Adoption. Swiss Finance Institute Research Paper Series, 20–38.
Giovanni, A., Utami, D. W., & Widiyaningrum, E. (2020). Size, Growth, Profitability and Capital Structure. Jurnal REKOMEN, 4(1), 81–90.
Havrylchyk, O., & Verdier, M. (2018). The Financial Intermediation Role of the P2P Lending Platforms. Comparative Economic Studies, 60(1), 115–130. https://doi.org/10.1057/s41294-017-0045-1
Hidayati, C., & Selmury, N. (2021). Analisis Rasio Keuangan Dan Analisis Eva Sebagai Alat Untuk Menilai Kinerja Keuangan Pt Charoenpokphand Indonesia Tbk Yang Terdaftar Dibursa Efek Indonesia. Jurnal Ekbis, 21(1), 16. https://doi.org/10.30736/je.v21i1.320
Hu, S., & Zhang, Y. (2021). COVID-19 pandemic and firm performance: Cross-country evidence. International Review of Economics and Finance, 74(2020), 365–372. https://doi.org/10.1016/j.iref.2021.03.016
IAI. (2013). PSAK 1 : Penyajian Laporan Keuangan. Pernyataan Standar Akuntansi Keuangan.
Imerman, M. B., & Fabozzi, F. J. (2020). Cashing in on innovation: a taxonomy of FinTech. Journal of Asset Management, 21(3), 167–177. https://doi.org/10.1057/s41260-020-00163-4
Indonesia, P. (2003). Undang-Undang Republik Indonesia Nomor 19 Tahun 2003.
Islam, A. B. M. S., Ong, H. C., & Rahman, S. M. A. (2020). School of Information Systems and Modelling , Faculty of Engineering and Information Dr Md Mofijur Rahman , Email : MdMofijur.Rahman@uts.edu.au ; Sustainable Production and Consumption. https://doi.org/10.1016/j.spc.2020.10.016
Kompas.com. (2020). Fakta Lengkap Kasus Pertama Virus Corona di Indonesia. https://nasional.kompas.com/read/2020/03/03/06314981/fakta-lengkap-kasus-pertama-virus-corona-di-indonesia?page=all
Kontan.co.id. (2020). Pinjaman fintech lending terus melaju saat pandemi. https://newssetup.kontan.co.id/news/pinjaman-fintech-lending-terus-melaju-saat-pandemi?page=all
Kristiyanto, S., & Widodo, S. (2020). ISSN : 2654-4326 Analisa Intermediasi Makroprudensial Pada Bank Berdampak Sistemik di Indonesia. 3(1), 40–53.
Larcker, D. F., Lynch, B., Tayan, B., & Taylor, D. J. (2020). The spread of covid-19 disclosure. Rock Center for Corporate Governance at Stanford University Closer Look Series: Topics, Issues and Controversies InCorporateGovernance, No. CGRP-8.
Lind, D. A., Marchal, W. G., & Wathen, S. A. (2019). Basic Statistics for Business & Economics (Ninth Edit). McGraw-Hill Education.
Liu, H., Yi, X., & Yin, L. (2021). The impact of operating flexibility on firms' performance during the COVID-19 outbreak: Evidence from China. Finance Research Letters, 38(October). https://doi.org/10.1016/j.frl.2020.101808
Manda, G. S., & Hendriyani, R. M. (2020). Analisis Tingkat Kesehatan Bank Menggunakan Metode Profil Risiko, Tata Kelola Perusahaan yang Baik, Pendapatan & Modal. Jurnal Ekonomi Dan Bisnis, 7(2), 68–77.
Nguyen, H. H., Ngo, V. M., & Tran, A. N. T. (2021). Financial performances, entrepreneurial factors and coping strategy to survive in the COVID-19 pandemic: case of Vietnam. Research in International Business and Finance, 56(January), 1–26. https://doi.org/10.1016/j.ribaf.2021.101380
Ningsih, M. R., & Mahfudz, M. S. (2020). Dampak Pandemi Covid-19 Terhadap Manajemen Industri Perbankan Syariah: Analisis Komparatif. Point, 2(1), 1–10. https://doi.org/10.46918/point.v2i1.576
Pemerintah Indonesia. (2003). Undang-Undang Republik Indonesia Tentang Badan Usaha Milik Negara.
Phan, D. H. B., Narayan, P. K., Rahman, R. E., & Hutabarat, A. R. (2020). Do financial technology firms influence bank performance? Pacific Basin Finance Journal, Journal Pr(Journal pre-proof), 1–44. https://doi.org/10.1016/j.pacfin.2019.101210
Rizal, Muhamad; Maulina, Erna; Kostini, N. (2018). FINTECH AS ONE OF THE FINANCING SOLUTIONS FOR SMEs Muhamad. 3(2), 89–100.
Sahay, R., von Allmen, U. E., Lahreche, A., Khera, P., Ogawa, S., Bazarbash, M., & Beaton, K. (2020). The promise of fintech : financial inclusion in the post COVID-19 era (Issue 20).
Sekaran, U., & Bougie, R. (2016). Research Methods for Business. In Encyclopedia of Quality of Life and Well-Being Research (Seventh Ed). John Wiley and Sons. https://doi.org/10.1007/978-94-007-0753-5_102084
Sihombing, D. Y., & Munthe, K. (2011). Perusahaan Perkebunan Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Manajemen Dan Bisnis (Jmb), 18, 13–26.
Sindonews.com. (2020). Resiliensi Perbankan. https://nasional.sindonews.com/read/163356/18/resiliensi-perbankan-1600013347
Suara.com. (2020). Kebijakan Publik dalam Sektor Keuangan dan Perbankan Selama Pandemi. https://yoursay.suara.com/news/2020/07/20/170145/kebijakan-publik-dalam-sektor-keuangan-dan-perbankan-selama-pandemi?page=all
Suhendra, I., & Ronaldo, E. (2017). Pengaruh Intermediasi Perbankan Terhadap Pertumbuhan Ekonomi Indonesia. Tirtayasa Ekonomika, 12(1), 169. https://doi.org/10.35448/jte.v12i1.4443
Tampakoudis, I., Noulas, A., Kiosses, N., & Drogalas, G. (2021). The effect of ESG on value creation from mergers and acquisitions. What changed during the COVID-19 pandemic? Corporate Governance (Bingley), A-head of(A-head of print). https://doi.org/10.1108/CG-10-2020-0448
Utami, D. W., & Giovanni, A. (2020). Financial Distress Phenomenon of Non-financial Companies in Indonesia. Relevance: Journal of Management and Business, 3(2), 175–188.
Vasenska, I., Dimitrov, P., Koyundzhiyska-Davidkova, B., Krastev, V., Durana, P., & Poulaki, I. (2021). Financial Transactions Using FINTECH during the Covid-19 Crisis in Bulgaria. Risks, 9(48), 1–28. https://doi.org/10.3390/risks9030048
WHO. (2020). Coronavirus disease - Answers. World Health Organization.
Yong, H. H. A., & Laing, E. (2020). Stock market reaction to COVID-19: Evidence from U.S. Firms' International exposure. International Review of Financial Analysis, Journal pr(Journal pre-proof). https://doi.org/10.1016/j.irfa.2020.101656
Yusniyanti, E., & Kurniati, K. (2017). Analisa Puncak Banjir Dengan Metode MAF (Studi Kasus Sungai Krueng Keureuto). EINSTEIN E-JOURNAL, 5(1). https://doi.org/10.24114/einstein.v5i1.7224
Zaenah. (2018). Hang tuah law journal. Hang Tuah Law Journal Hang Tuah Law Journal Volume 2 Issue 2. O, 2(2), 138–145
Authors who publish with Berkala Akuntansi dan Keuangan Indonesia agree to the following terms:
The journal allows the author to hold the copyright of the article without restrictions.
The journal allows the author(s) to retain publishing rights without restrictions
The legal formal aspect of journal publication accessibility refers to Creative Commons Attribution (CC BY NC SA)
BAKI (Berkala Akuntansi dan Keuangan Indonesia) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
