INTRODUCTION

The COVID-19 pandemic in Indonesia led the government to issue a large-scale social restriction order that had an impact on hampering
economic activities carried out by companies. The restrictions made companies must run work from home and cannot carry out production
activities. This has an impact on the output produced which decreases every day and has an impact on the profits generated by the company
which also decreases.

This decreased profit resulted in salary reductions and forced layoffs. This causes some people to lose their income and decreases people's
purchasing power.

Seeing this, companies will innovate products to satisfy the public. For example, making goods at a cost that can be reached by the community,
but has the benefits of existing products. Thus, the company needs capital that will help the company develop its innovation.

The funds needed by the company can be obtained from internal parties, in the form of retained earnings. Or funds from external parties,
namely investors. Investors certainly have considerations regarding which companies are worthy of capital, and which companies are not
worthy of capital. One of the factors seen when wanting to invest capital is the firm's performance.