ASSETS TURNOVER OF LISTED TEXTILE FIRMS IN COVID-19 PANDEMIC

Abstract

The Covid-19 pandemic has harmed the economy and caused significantly to
financial performance of all firms, in which impact on assets turnover. This study
aims to quantify the effects of Covid 19 on assets turnover by comparing the assets
turnover indexes of 44 textile firms that list on the Vietnam Stock Exchange. The
data analysis method used is a comparative method combined with an
Independent T-test to test the difference of asset turnover ratios in 2019 and
2020. The results show total asset turnover and current assets turnover during the
Covid 19 pandemic reduced compared to before. There is no significant show that
Return on assets, fixed asset turnover, inventory turnover, and receivables during
the Covid-19 period are different from before. On the basis of the results achieved,
the article makes some recommendations to the government and businesses to
overcome that difficult period.