THE IMPACT OF THE COVID-19 PANDEMICS OVER THE FINANCIAL PERFORMANCE AT THE LEVEL OF THE MAIN PHARMACEUTICAL OPERATING IN CENTRAL AND EASTERN EUROPE
Laurentiu DROJ1, Goran KARANOVIC2, Ioan Gheorghe TARA1
1University of Oradea, Faculty of Economics, Finance and Accounting Department, Oradea, Romania
2University of Rijeka, Faculty of Tourism and Hospitality Management, Department of Finance, Rijeka, Croatia
Abstract: The COVID19 pandemic seems to have affected the financial results of the companies operating in Central and Eastern Europe. This paper has as a main goal to analyse the impact of COVID-19 crisis over companies which operate in the pharmaceutical sector. Since two of the authors developed an article in 2018 concentrated on the Early warning indicators and their impact over the medical companies registered in the Bucharest Stock Exchange, the current article analysis the same indicators but extends them at the level of four countries: Romania, Croatia, Slovenia and Hungary. Within the paper the authors will compare the evolution of several financial indicators: liquidity, financial leverage, solvency, annual return, ROE, ROA, so on in context of COVID-19. The main reason for the selection of medical and pharmaceutical sector is constituted by the discussions that these companies benefit from the effects of COVID19.
Keywords: financial analysis, financial indicators, ROE, liquidity, solvency, COVID19, pharmaceutical sector
