SOFIAN, AMELIA PUTRI (2026) ANALISIS PERBEDAAN PENGARUH FINANCIAL DISTRESS, KEBIJAKAN DIVIDEN, KEBIJAKAN INVESTASI, DAN LIKUIDITAS TERHADAP HARGA SAHAM PERUSAHAAN PADA MASA PANDEMI COVID-19 DAN MASA PEMULIHAN EKONOMI (STUDI KASUS PADA SEKTOR TRANSPORTASI YANG TERDAFTAR DI BURSA EFEK INDONESIA 2019-2022). Undergraduate thesis, Universitas Satya Negara Indonesia.

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Abstract

The COVID-19 pandemic caused significant economic pressure and affected the financial performance as well as stock price movements of transportation sector companies. This condition increased market uncertainty, prompting investors to be more selective in evaluating financial information and corporate policies. This study aims to analyze the effect of financial distress, dividend policy, investment policy, and liquidity on stock prices of transportation sector companies listed on the Indonesia Stock Exchange during the pandemic shock period and the economic recovery period. This study employs a quantitative approach using secondary data obtained from corporate financial statements and stock price data. The data analysis methods include classical assumption tests, multiple linear regression analysis, t-test, F-test, coefficient of determination, Durbin–Watson test, and difference test to compare conditions between periods. Data processing was conducted using SPSS software. The results show that financial distress, dividend policy, investment policy, and liquidity simultaneously have a significant effect on stock prices. Partially, financial distress has a significant effect on stock prices during the pandemic shock period but does not affect stock prices during the recovery period. Dividend policy and investment policy have a significant effect on stock prices in both periods, while liquidity does not have a significant effect during either the shock or recovery period. This study concludes that during periods of crisis, investors tend to focus more on corporate financial risk, whereas during the recovery period, investor attention shifts toward corporate policies that reflect long-term prospects and firm value.

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