The Value of Manufacturing Companies in the Consumer Goods Industry Sector in Indonesia Before and During the Covid-19 Pandemic: A Comparative Study

DOI

10.2991/978-2-38476-436-5_7How to use a DOI?

Keywords

Firm Value; Market Value of Equity; Market to Book Value; Manufacturing Companies

Abstract

This study investigates the variations in firm value across different sectors and sub-sectors within Indonesia’s Consumer Goods Industry (CGI) before and during the Covid-19 pandemic. The research sample includes 52 manufacturing companies listed on the Indonesia Stock Exchange (IDX), selected through a census method. The findings indicate that the Market Value of Equity for these companies declined during the pandemic compared to the previous year, primarily due to a drop in average share prices from 2019 to 2020. Additionally, the Market to Book Value ratio decreased slightly from 23.6 in 2019 to 23.2 in 2020. The study reveals significant differences in firm value among sub-sectors within the CGI before and during the pandemic. Specifically, there were notable differences in the Market Value of Equity among companies in the Food & Beverage, Cigarettes, Pharmaceuticals, Cosmetics & Household Goods, and Household Appliances sub-sectors. However, the Market to Book Value did not show significant differences. Overall, the study highlights a significant change in the firm value of CGI companies before and during the Covid-19 pandemic.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Andi Wijayanto
AU  - Saryadi Saryadi
PY  - 2025
DA  - 2025/07/01
TI  - The Value of Manufacturing Companies in the Consumer Goods Industry Sector in Indonesia Before and During the Covid-19 Pandemic: A Comparative Study
BT  - Proceedings of the 9th International Conference on Indonesian Social and Political Enquiries (ICISPE 2024)
PB  - Atlantis Press
SP  - 75
EP  - 87
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-436-5_7
DO  - 10.2991/978-2-38476-436-5_7
ID  - Wijayanto2025
ER  -