Rediyanto Putra, Oryza Ardhiarisca
The objective of this study is to examine the level of performance differences of cigarette industry companies listed on the Indonesia Stock Exchange (IDX) before and after the implementation of government policy that called PP. 109 in 2012. The research was conducted by using paired t-test. The results showed that there were significant differences in the level of bankruptcy and profitability potential before and after the application of PP. 109 of 2012. The results of the study failed to find any significant differences in the level of liquidity and solvency before and after the application of PP. 109 of 2012. The implications of this study based on the conclusions of the research results indicate that the application of PP No. 109 of 2012 needs to be reviewed again and need other solutions that can be done to maintain the operational sustainability of tobacco companies. © 2021 Inderscience Enterprises Ltd.
Accounting Department, Universitas Negeri Surabaya, Jl. Ketintang, Surabaya, East Java, Indonesia; Politeknik Negeri Jember, Jl. Mastrip Kotak Pos 164, Sumbersari, Jember, East Java, Indonesia
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