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The Profitability Analysis of the Best Companies Listed on the North Macedonian Stock Exchange (MBI10) during the Pandemic Crisis Covid-19

Author

Listed:
  • Osmani RUFI

    (South East European University, Tetovo, North Macedonia)

  • Kamberi EGZON

    (South East European University, Tetovo, North Macedonia)

Abstract

The objective of this study is to analyse the profitability of the 10 best companies listed on the stock exchange of North Macedonia in the period 2015-2020.The research methodology is based on quantitative methods. This study analyzes secondary data for 10 companies for period 2019-2015 and data of 2020 year as pandemic Covid-19 year of the same companies. The findings of the research argue that the Covid-19 Pandemic had a negative impact on the performance of the analyzed companies that make up MBI10 on the stock exchange in the case of North Macedonia. The negative impact has been higher for real sector of companies compared to banking sector of companies. In 2020, the analyzed companies have identified lower positive activity and profitability rates. Compared to the previous period (2019-2015), the analyzed companies have realized a decrease in ROA by -9.4% and a decrease in ROE by -8.6%. The market value of companies' shares in 2020 in relation to the book value has increased by 56%, which is a special paradox and requires additional analysis in perspective.

Suggested Citation

  • Osmani RUFI & Kamberi EGZON, 2022. "The Profitability Analysis of the Best Companies Listed on the North Macedonian Stock Exchange (MBI10) during the Pandemic Crisis Covid-19," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 35-42.
    • Handle: RePEc:ddj:fseeai:y:2022:i:1:p:35-42
    DOI: 10.35219/eai15840409242
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    References listed on IDEAS

    as
    1. Olga Golubeva, 2017. "Does Perception of Business Climate Differ Between Foreign and Local Investors. A Firm-level Study of Transition Economies in Eastern Europe and Central Asia," Applied Economics and Finance, Redfame publishing, vol. 4(2), pages 113-128, March.
    2. Huayu Shen & Mengyao Fu & Hongyu Pan & Zhongfu Yu & Yongquan Chen, 2020. "The Impact of the COVID-19 Pandemic on Firm Performance," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(10), pages 2213-2230, August.
    3. Dick May & Chris Mackin, 2020. "Responding to the COVID-19 Crisis: Public Policy and Corporate Governance Considerations," Challenge, Taylor & Francis Journals, vol. 63(4), pages 234-238, July.
    4. Huayu Shen & Mengyao Fu & Hongyu Pan & Zhongfu Yu & Yongquan Chen, 2020. "The Impact of the COVID-19 Pandemic on Firm Performance," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(10), pages 2213-2230, August.
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