Financial Distress of Pharmaceutical Companies in Indonesia

Bintang Mukhammad Burhanudin Akbar; Noer Azam Achsani; Tubagus Nur Ahmmad Maulana

doi:doi:10.11648/j.ijfbr.20190506.16

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Financial Distress of Pharmaceutical Companies in Indonesia

Bintang Mukhammad Burhanudin Akbar, Noer Azam Achsani, Tubagus Nur Ahmmad Maulana

Published in International Journal of Finance and Banking Research (Volume 5, Issue 6)

Received: 27 September 2018 Accepted: 10 May 2019 Published: 17 December 2019

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Abstract

Many pharmaceutical companies run into financial problems, while the pharmaceutical sub-sector is a vital industry that manufactures and sells pharmaceutical products in Indonesia. Currently the pharmaceutical sub-sector faces government policies related to the application of e-catalogs, BPJS health policies and very high dependence on raw materials in producing drugs. The panel data regression method is used with two models of financial distress companies, altans and DSC in predicting financial problems with a sample of 7 companies that have been listed on the Indonesian stock exchange. In addition, this study was conducted to determine the condition of financial distress on stock returns. The results are known to show that there is a decrease in financial ratios in each company, this has implications for the decline in the financial distress model. At the same time it was known that there was a decline in returns of shares from each pharmaceutical company.

Published in	International Journal of Finance and Banking Research (Volume 5, Issue 6)
DOI	10.11648/j.ijfbr.20190506.16
Page(s)	174-179
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2019. Published by Science Publishing Group

Keywords

Financial Distress, Stock Return, Pharmacy

References

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APA Style

Bintang Mukhammad Burhanudin Akbar, Noer Azam Achsani, Tubagus Nur Ahmmad Maulana. (2019). Financial Distress of Pharmaceutical Companies in Indonesia. International Journal of Finance and Banking Research, 5(6), 174-179. https://doi.org/10.11648/j.ijfbr.20190506.16

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ACS Style

Bintang Mukhammad Burhanudin Akbar; Noer Azam Achsani; Tubagus Nur Ahmmad Maulana. Financial Distress of Pharmaceutical Companies in Indonesia. Int. J. Finance Bank. Res. 2019, 5(6), 174-179. doi: 10.11648/j.ijfbr.20190506.16

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AMA Style

Bintang Mukhammad Burhanudin Akbar, Noer Azam Achsani, Tubagus Nur Ahmmad Maulana. Financial Distress of Pharmaceutical Companies in Indonesia. Int J Finance Bank Res. 2019;5(6):174-179. doi: 10.11648/j.ijfbr.20190506.16

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@article{10.11648/j.ijfbr.20190506.16,
  author = {Bintang Mukhammad Burhanudin Akbar and Noer Azam Achsani and Tubagus Nur Ahmmad Maulana},
  title = {Financial Distress of Pharmaceutical Companies in Indonesia},
  journal = {International Journal of Finance and Banking Research},
  volume = {5},
  number = {6},
  pages = {174-179},
  doi = {10.11648/j.ijfbr.20190506.16},
  url = {https://doi.org/10.11648/j.ijfbr.20190506.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20190506.16},
  abstract = {Many pharmaceutical companies run into financial problems, while the pharmaceutical sub-sector is a vital industry that manufactures and sells pharmaceutical products in Indonesia. Currently the pharmaceutical sub-sector faces government policies related to the application of e-catalogs, BPJS health policies and very high dependence on raw materials in producing drugs. The panel data regression method is used with two models of financial distress companies, altans and DSC in predicting financial problems with a sample of 7 companies that have been listed on the Indonesian stock exchange. In addition, this study was conducted to determine the condition of financial distress on stock returns. The results are known to show that there is a decrease in financial ratios in each company, this has implications for the decline in the financial distress model. At the same time it was known that there was a decline in returns of shares from each pharmaceutical company.},
 year = {2019}
}

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TY  - JOUR
T1  - Financial Distress of Pharmaceutical Companies in Indonesia
AU  - Bintang Mukhammad Burhanudin Akbar
AU  - Noer Azam Achsani
AU  - Tubagus Nur Ahmmad Maulana
Y1  - 2019/12/17
PY  - 2019
N1  - https://doi.org/10.11648/j.ijfbr.20190506.16
DO  - 10.11648/j.ijfbr.20190506.16
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 174
EP  - 179
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20190506.16
AB  - Many pharmaceutical companies run into financial problems, while the pharmaceutical sub-sector is a vital industry that manufactures and sells pharmaceutical products in Indonesia. Currently the pharmaceutical sub-sector faces government policies related to the application of e-catalogs, BPJS health policies and very high dependence on raw materials in producing drugs. The panel data regression method is used with two models of financial distress companies, altans and DSC in predicting financial problems with a sample of 7 companies that have been listed on the Indonesian stock exchange. In addition, this study was conducted to determine the condition of financial distress on stock returns. The results are known to show that there is a decrease in financial ratios in each company, this has implications for the decline in the financial distress model. At the same time it was known that there was a decline in returns of shares from each pharmaceutical company.
VL  - 5
IS  - 6
ER  -

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Author Information

Bintang Mukhammad Burhanudin Akbar

School of Business, Faculty Management and Business, Bogor Agricultural University, Bogor, Indonesia
Noer Azam Achsani

School of Business, Faculty Management and Business, Bogor Agricultural University, Bogor, Indonesia
Tubagus Nur Ahmmad Maulana

School of Business, Faculty Management and Business, Bogor Agricultural University, Bogor, Indonesia

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Plain Text BibTeX RIS

APA Style

Bintang Mukhammad Burhanudin Akbar, Noer Azam Achsani, Tubagus Nur Ahmmad Maulana. (2019). Financial Distress of Pharmaceutical Companies in Indonesia. International Journal of Finance and Banking Research, 5(6), 174-179. https://doi.org/10.11648/j.ijfbr.20190506.16

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ACS Style

Bintang Mukhammad Burhanudin Akbar; Noer Azam Achsani; Tubagus Nur Ahmmad Maulana. Financial Distress of Pharmaceutical Companies in Indonesia. Int. J. Finance Bank. Res. 2019, 5(6), 174-179. doi: 10.11648/j.ijfbr.20190506.16

Copy | Download

AMA Style

Bintang Mukhammad Burhanudin Akbar, Noer Azam Achsani, Tubagus Nur Ahmmad Maulana. Financial Distress of Pharmaceutical Companies in Indonesia. Int J Finance Bank Res. 2019;5(6):174-179. doi: 10.11648/j.ijfbr.20190506.16

Copy | Download

@article{10.11648/j.ijfbr.20190506.16,
  author = {Bintang Mukhammad Burhanudin Akbar and Noer Azam Achsani and Tubagus Nur Ahmmad Maulana},
  title = {Financial Distress of Pharmaceutical Companies in Indonesia},
  journal = {International Journal of Finance and Banking Research},
  volume = {5},
  number = {6},
  pages = {174-179},
  doi = {10.11648/j.ijfbr.20190506.16},
  url = {https://doi.org/10.11648/j.ijfbr.20190506.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20190506.16},
  abstract = {Many pharmaceutical companies run into financial problems, while the pharmaceutical sub-sector is a vital industry that manufactures and sells pharmaceutical products in Indonesia. Currently the pharmaceutical sub-sector faces government policies related to the application of e-catalogs, BPJS health policies and very high dependence on raw materials in producing drugs. The panel data regression method is used with two models of financial distress companies, altans and DSC in predicting financial problems with a sample of 7 companies that have been listed on the Indonesian stock exchange. In addition, this study was conducted to determine the condition of financial distress on stock returns. The results are known to show that there is a decrease in financial ratios in each company, this has implications for the decline in the financial distress model. At the same time it was known that there was a decline in returns of shares from each pharmaceutical company.},
 year = {2019}
}

Copy | Download

TY  - JOUR
T1  - Financial Distress of Pharmaceutical Companies in Indonesia
AU  - Bintang Mukhammad Burhanudin Akbar
AU  - Noer Azam Achsani
AU  - Tubagus Nur Ahmmad Maulana
Y1  - 2019/12/17
PY  - 2019
N1  - https://doi.org/10.11648/j.ijfbr.20190506.16
DO  - 10.11648/j.ijfbr.20190506.16
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 174
EP  - 179
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20190506.16
AB  - Many pharmaceutical companies run into financial problems, while the pharmaceutical sub-sector is a vital industry that manufactures and sells pharmaceutical products in Indonesia. Currently the pharmaceutical sub-sector faces government policies related to the application of e-catalogs, BPJS health policies and very high dependence on raw materials in producing drugs. The panel data regression method is used with two models of financial distress companies, altans and DSC in predicting financial problems with a sample of 7 companies that have been listed on the Indonesian stock exchange. In addition, this study was conducted to determine the condition of financial distress on stock returns. The results are known to show that there is a decrease in financial ratios in each company, this has implications for the decline in the financial distress model. At the same time it was known that there was a decline in returns of shares from each pharmaceutical company.
VL  - 5
IS  - 6
ER  -

Copy | Download