Pemulihan Laba Perusahaan Pariwisata Pasca-Pandemi : Pertumbuhan Penjualan, Efisiensi Biaya Operasional dan Cadangan Kerugian Piutang Pada perusahaan Pariwisata Yang Terdaftar Di Bursa Efek Indonesia (Periode 2021-2024)

Sonia Nensia  Freitas Belo; Lely Indriaty; Mery Wanialisa; Maryati Rahayu

Sonia Nensia Freitas Belo Programa Studi Akuntansi, Fakultas Ekonomi dan Bisnis, Universitas Persada Indonesia Y.A.I
Lely Indriaty Programa Studi Akuntansi, Fakultas Ekonomi dan Bisnis, Universitas Persada Indonesia Y.A.I
Mery Wanialisa Programa Studi Akuntansi, Fakultas Ekonomi dan Bisnis, Universitas Persada Indonesia Y.A.I
Maryati Rahayu Programa Studi Akuntansi, Fakultas Ekonomi dan Bisnis, Universitas Persada Indonesia Y.A.I

Keywords: profit recovery; sales growth; operational cost efficiency; allowance for doubtful accounts; tourism sector

Abstract

The COVID-19 pandemic hit Indonesia's tourism sector exceptionally hard, and although tourism
activity gradually recovered during the 2021-2024 period, profit recovery among issuers in this
sector has remained inconsistent. This study aims to empirically examine and prove the influence of
sales growth, operational cost efficiency (BOPO), and allowance for doubtful accounts (CKPN) on
profit recovery (ΔROA) in tourism sector companies listed on the Indonesia Stock Exchange (IDX).
This research employs a quantitative causal approach using secondary data from audited annual
financial statements. Through purposive sampling of a population of 50 companies, 17 companies
met the sample criteria, yielding 68 panel data observations over the 2021-2024 period. Data were
analyzed using panel data regression with EViews 14, including model selection tests (Chow Test,
Hausman Test, and Lagrange Multiplier Test), classical assumption tests, partial tests (t-test),
simultaneous tests (F-test), and the coefficient of determination test. Model selection results indicate
that the Common Effect Model (CEM) is the most appropriate estimation model for this study. The
analysis reveals that sales growth has a positive and significant effect on profit recovery, while
operational cost efficiency and allowance for doubtful accounts do not have a significant partial
effect. Nevertheless, the three independent variables simultaneously have a significant effect on
profit recovery, with the model explaining 34.80% of the variation in profit recovery. These findings
confirm the relevance of signaling theory in the context of post-crisis recovery and offer practical
implications for management, investors, and capital market regulators.

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