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Fortune 500 Şirketleri Arasında Yer Alan Tıbbi Cihaz Şirketlerinin COVID-19 Pandemisi Öncesindeki, Sırasındaki ve Sonrasındaki Finansal Performanslarının Değerlendirilmesi

Yıl 2024, Cilt: 8 Sayı: 2, 72 - 83, 06.01.2025

Tolga Tümer , Dilaver Tengilimioğlu , Eşref Uğur Çelik , Emine Kübra Dindar Demiray

https://doi.org/10.52148/ehta.1530745

Öz

Amaç: Bu çalışmanın amacı, Fortune 500'de yer alan altı tıbbi cihaz şirketinin COVID-19 pandemisi öncesindeki, sırasındaki ve sonrasındaki finansal performanslarının değerlendirilmesidir.
Yöntem: Çalışmada öncelikle likidite, devir hızı, kaldıraç ve kârlılık oranları kullanılarak rasyo analizi yapılmıştır; daha sonra ise hesaplanan finansal rasyoların değerleri kullanılarak Wilcoxon işaretli sıralar testleri uygulanmıştır. İhtiyaç duyulan veriler Fortune 500 şirketleri arasında yer alan tıbbi cihaz şirketlerinin yıllık finansal tablolarından elde edilmiştir. Analizlerde, COVID-19 pandemisi öncesi yıl olarak 2019, pandemi süreci olarak 2020 ve 2021, pandemi sonrası yıl olarak ise 2022 alınmıştır.
Sonuçlar: Araştırmanın bulgularına göre Fortune 500 şirketleri arasında yer alan tıbbi cihaz şirketleri; COVID-19 pandemisi başladığında finansal performanslarını istikrarlı tutmayı başarmış, COVID-19 pandemisinin ikinci yılında kârlarını artırmış, COVID-19 pandemisinden sonra ise varlıklarını daha verimli kullanmaya başlamışlardır.
Tartışma: Çalışmanın bulguları, Fortune 500’de yer alan tıbbi cihaz şirketlerinin COVID-19 pandemisi öncesinde, sırasında ve sonrasındaki finansal performanslarının güçlü olduğunu göstermektedir. Fortune 500 şirketleri arasında yer alan tıbbi cihaz şirketlerinin COVID-19 pandemisi öncesinde, sırasında ve sonrasındaki finansal performanslarının değerlendirilmesi; küresel çapta tıbbi cihaz sektöründeki yöneticiler ve politika yapıcılar açısından gelecekteki olası pandemilere ve kriz dönemlerine karşı daha da hazırlıklı olabilmek adına güçlendirilmesi gereken alanların belirlenmesi bakımından faydalı olabilir.

Anahtar Kelimeler

Tıbbi cihaz sektörü Fortune 500 finansal performans COVID-19

Kaynakça

  • 50PROS. (2023). List of Fortune 500 companies. https://www.50pros.com/fortune500
  • Aknur, N., & Dugan, S. (2023). THE RELATIONSHIP BETWEEN HEALTH EXPENDITURES AND ECONOMIC GROWTH IN BRICS COUNTRIES. In U. O (Ed.), Discussions between economic agents: Recent issues (pp. 199–216). İKSAD Publishing House.
  • Bartenschlager, C. C., Grieger, M., Erber, J., Neidel, T., Borgmann, S., Vehreschild, J. J., Steinbrecher, M., Rieg, S., Stecher, M., Dhillon, C., Ruethrich, M. M., Jakob, C. E. M., Hower, M., Heller, A. R., Vehreschild, M., Wyen, C., Messmann, H., Piepel, C., Brunner, J. O., … Milovanovic, M. (2023). Covid-19 triage in the emergency department 2.0: How analytics and AI transform a human-made algorithm for the prediction of clinical pathways. Health Care Management Science, 26(3), 412–429. https://doi.org/10.1007/s10729-023-09647-2
  • Bordens, K. S., & Abbott, B. B. (2002). Research design and methods: A process approach. McGraw-Hill. https://psycnet.apa.org/record/2001-18329-000
  • Brealey, R. A., Myers, S. C., & Allen, F. (2020). Principles of Corporate Finance. McGraw-Hill Education.
  • Celik, E. U., Omay, T., & Tengilimoglu, D. (2023). Convergence of economic growth and health expenditures in OECD countries: Evidence from non-linear unit root tests. Frontiers in Public Health, 11, 1125968.
  • Coombs, W. T., Holladay, S. J., & White, K. L. (2020). Situational crisis communication theory (SCCT) and application in dealing with complex, challenging, and recurring crises. In J. Y, R. BH, & N. GJ (Eds.), Advancing crisis communication effectiveness (pp. 165–180). Routledge.
  • Garzotto, F., Ceresola, E., Panagiotakopoulou, S., Spina, G., Menotto, F., Benozzi, M., Casarotto, M., Lanera, C., Bonavina, M. G., Gregori, D., Meneghesso, G., & Opocher, G. (2020). COVID-19: Ensuring our medical equipment can meet the challenge. Expert Review of Medical Devices, 17(6), 483–489. https://doi.org/10.1080/17434440.2020.1772757
  • Gidwani, R., & Damberg, C. L. (2023). Changes in US hospital financial performance during the COVID-19 public health emergency. JAMA Health Forum, 4(7), e231928–e231928.
  • Gürbüz, S., & Şahin, F. (2014). Sosyal bilimlerde araştırma yöntemleri. Ankara: Seçkin Yayıncılık, 271.
  • Hasan, F., Bellenstedt, M. F. R., & Islam, M. R. (2023). Demand and Supply Disruptions During the Covid-19 Crisis on Firm Productivity. Global Journal of Flexible Systems Management, 24(1), 87–105. https://doi.org/10.1007/s40171-022-00324-x
  • He, M., Jessri, M., & Zhang, H. (2023). The impact of COVID-19 on hospitals’ financial performance: Evidence from California hospitals. International Journal of Healthcare Management, 16(4), 496–503. https://doi.org/10.1080/20479700.2022.2118168
  • Kaye, A. D., Okeagu, C. N., Pham, A. D., Silva, R. A., Hurley, J. J., Arron, B. L., Sarfraz, N., Lee, H. N., Ghali, G. E., & Gamble, J. W. (2021). Economic impact of COVID-19 pandemic on healthcare facilities and systems: International perspectives. Best Practice & Research Clinical Anaesthesiology, 35(3), 293–306.
  • Keown, A., Martin, J., & Petty, J. (2014). Foundations of Finance: The Logic and Practice of Financial Management. Pearson.
  • Maemunah, S., & Cuaca, H. (2021). Influence of epidemic COVID–19 on business strategy, information technology and supply chain agility to firm performance in medical device industry. Linguistics and Culture Review, 5(S1), 661–669.
  • Mahssouni, R., Touijer, M. N., & Makhroute, M. (2022). Employee compensation, training and financial performance during the COVID-19 pandemic. Journal of Risk and Financial Management, 15(12), 559.
  • Özkan, E., Yeşilırmak, S., & Yılık, P. (2022). The Effect of Perceived Social Support by Healthcare Professionals on Emotional Exhaustion during the Covid-19 Process. Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi, 23(4), Article 4. https://doi.org/10.37880/cumuiibf.1099175
  • Ratten, V. (2021). Coronavirus (Covid-19) and entrepreneurship: Cultural, lifestyle and societal changes. Journal of Entrepreneurship in Emerging Economies, 13(4), 747–761.
  • Renda, A., & Castro, R. (2020). Towards stronger EU governance of health threats after the COVID-19 pandemic. European Journal of Risk Regulation, 11(2), 273–282.
  • Spieske, A., Gebhardt, M., Kopyto, M., & Birkel, H. (2022). Improving resilience of the healthcare supply chain in a pandemic: Evidence from Europe during the COVID-19 crisis. Journal of Purchasing and Supply Management, 28(5), 100748.
  • Sun, Y., & Li, Y. (2021). COVID-19 Outbreak and financial performance of Chinese listed firms: Evidence from corporate culture and corporate social responsibility. Frontiers in Public Health, 9, 710743.
  • Taneja, B., & Bharti, K. (2023). Medical device companies crisis communication response to stakeholders during COVID-19: Pre-crisis stage to new normal. International Journal of Pharmaceutical and Healthcare Marketing, 17(2), 182–208.
  • Tengilimoğlu, D., Işık, O., & Akbolat, M. (2021). Sağlık İşletmeleri Yönetimi. Nobel.
  • Tengilimoğlu, D., Tümer, T., Bennett, R. L., & Younis, M. Z. (2023). Evaluating the Financial Performances of the Publicly Held Healthcare Companies in Crisis Periods in Türkiye. Healthcare, 11(18), Article 18. https://doi.org/10.3390/healthcare11182588
  • Tengilimoğlu, D., & Yiğit, V. (2021). Sağlık işletmelerinde tedarik zinciri ve malzeme yönetimi. Nobel.
  • Tümer, T., & Tengilimoğlu, D. (2023). Investigating The Effects of Covid-19 Pandemic on the Regional Tourism Sector Stock Indices. Anatolia: Journal of Tourism Research, 34(1), Article 1. https://doi.org/10.17123/atad.1145997
  • WHO. (2023). WHO coronavirus (COVID-19) dashboard. https://covid19.who.int/
  • Zheng, F., Zhao, Z., Sun, Y., & Khan, Y. A. (2023). Financial performance of China’s listed firms in presence of coronavirus: Evidence from corporate culture and corporate social responsibility. Current Psychology, 42(11), 8897–8918. https://doi.org/10.1007/s12144-021-02200-w

Evaluation of the Financial Performances of the Medical Device Companies among Fortune 500 Companies before, during and after the COVID-19 Pandemic

Yıl 2024, Cilt: 8 Sayı: 2, 72 - 83, 06.01.2025

Tolga Tümer , Dilaver Tengilimioğlu , Eşref Uğur Çelik , Emine Kübra Dindar Demiray

https://doi.org/10.52148/ehta.1530745

Öz

Purpose: The purpose of this study was to evaluate the financial performances of the six medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic.
Methodology: We first conducted ratio analysis by using liquidity, turnover, leverage and profitability ratios; then we conducted Wilcoxon signed-rank tests by using the calculated values of the financial ratios. We obtained the required data from the annual financial statements of the medical device companies among Fortune 500 companies. In the analyses, we took 2019 as the year before the COVID-19 pandemic, 2020 and 2021 as the year of the COVID-19 pandemic and 2022 as the year after the COVID-19 pandemic.
Results: The results of the study showed that the medical device companies among Fortune 500 companies were able to keep their financial performances steady when the COVID-19 pandemic began; they were able to increase their profits in the second year of the COVID-19 pandemic; and they were able to start using their assets more efficiently after the COVID-19 pandemic.
Discussion: The findings of the study suggests that the overall financial performances of the medical device companies among Fortune 500 companies were strong before, during and after the COVID-19 pandemic. The evaluation of the financial performances of the medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic may be beneficial for managers and policy makers in the medical device industry to determine the areas that requires to be strengthened in order to be better prepared for possible future pandemics and crisis periods.

Anahtar Kelimeler

Medical device industry Fortune 500 financial performance COVID-19

Kaynakça

  • 50PROS. (2023). List of Fortune 500 companies. https://www.50pros.com/fortune500
  • Aknur, N., & Dugan, S. (2023). THE RELATIONSHIP BETWEEN HEALTH EXPENDITURES AND ECONOMIC GROWTH IN BRICS COUNTRIES. In U. O (Ed.), Discussions between economic agents: Recent issues (pp. 199–216). İKSAD Publishing House.
  • Bartenschlager, C. C., Grieger, M., Erber, J., Neidel, T., Borgmann, S., Vehreschild, J. J., Steinbrecher, M., Rieg, S., Stecher, M., Dhillon, C., Ruethrich, M. M., Jakob, C. E. M., Hower, M., Heller, A. R., Vehreschild, M., Wyen, C., Messmann, H., Piepel, C., Brunner, J. O., … Milovanovic, M. (2023). Covid-19 triage in the emergency department 2.0: How analytics and AI transform a human-made algorithm for the prediction of clinical pathways. Health Care Management Science, 26(3), 412–429. https://doi.org/10.1007/s10729-023-09647-2
  • Bordens, K. S., & Abbott, B. B. (2002). Research design and methods: A process approach. McGraw-Hill. https://psycnet.apa.org/record/2001-18329-000
  • Brealey, R. A., Myers, S. C., & Allen, F. (2020). Principles of Corporate Finance. McGraw-Hill Education.
  • Celik, E. U., Omay, T., & Tengilimoglu, D. (2023). Convergence of economic growth and health expenditures in OECD countries: Evidence from non-linear unit root tests. Frontiers in Public Health, 11, 1125968.
  • Coombs, W. T., Holladay, S. J., & White, K. L. (2020). Situational crisis communication theory (SCCT) and application in dealing with complex, challenging, and recurring crises. In J. Y, R. BH, & N. GJ (Eds.), Advancing crisis communication effectiveness (pp. 165–180). Routledge.
  • Garzotto, F., Ceresola, E., Panagiotakopoulou, S., Spina, G., Menotto, F., Benozzi, M., Casarotto, M., Lanera, C., Bonavina, M. G., Gregori, D., Meneghesso, G., & Opocher, G. (2020). COVID-19: Ensuring our medical equipment can meet the challenge. Expert Review of Medical Devices, 17(6), 483–489. https://doi.org/10.1080/17434440.2020.1772757
  • Gidwani, R., & Damberg, C. L. (2023). Changes in US hospital financial performance during the COVID-19 public health emergency. JAMA Health Forum, 4(7), e231928–e231928.
  • Gürbüz, S., & Şahin, F. (2014). Sosyal bilimlerde araştırma yöntemleri. Ankara: Seçkin Yayıncılık, 271.
  • Hasan, F., Bellenstedt, M. F. R., & Islam, M. R. (2023). Demand and Supply Disruptions During the Covid-19 Crisis on Firm Productivity. Global Journal of Flexible Systems Management, 24(1), 87–105. https://doi.org/10.1007/s40171-022-00324-x
  • He, M., Jessri, M., & Zhang, H. (2023). The impact of COVID-19 on hospitals’ financial performance: Evidence from California hospitals. International Journal of Healthcare Management, 16(4), 496–503. https://doi.org/10.1080/20479700.2022.2118168
  • Kaye, A. D., Okeagu, C. N., Pham, A. D., Silva, R. A., Hurley, J. J., Arron, B. L., Sarfraz, N., Lee, H. N., Ghali, G. E., & Gamble, J. W. (2021). Economic impact of COVID-19 pandemic on healthcare facilities and systems: International perspectives. Best Practice & Research Clinical Anaesthesiology, 35(3), 293–306.
  • Keown, A., Martin, J., & Petty, J. (2014). Foundations of Finance: The Logic and Practice of Financial Management. Pearson.
  • Maemunah, S., & Cuaca, H. (2021). Influence of epidemic COVID–19 on business strategy, information technology and supply chain agility to firm performance in medical device industry. Linguistics and Culture Review, 5(S1), 661–669.
  • Mahssouni, R., Touijer, M. N., & Makhroute, M. (2022). Employee compensation, training and financial performance during the COVID-19 pandemic. Journal of Risk and Financial Management, 15(12), 559.
  • Özkan, E., Yeşilırmak, S., & Yılık, P. (2022). The Effect of Perceived Social Support by Healthcare Professionals on Emotional Exhaustion during the Covid-19 Process. Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi, 23(4), Article 4. https://doi.org/10.37880/cumuiibf.1099175
  • Ratten, V. (2021). Coronavirus (Covid-19) and entrepreneurship: Cultural, lifestyle and societal changes. Journal of Entrepreneurship in Emerging Economies, 13(4), 747–761.
  • Renda, A., & Castro, R. (2020). Towards stronger EU governance of health threats after the COVID-19 pandemic. European Journal of Risk Regulation, 11(2), 273–282.
  • Spieske, A., Gebhardt, M., Kopyto, M., & Birkel, H. (2022). Improving resilience of the healthcare supply chain in a pandemic: Evidence from Europe during the COVID-19 crisis. Journal of Purchasing and Supply Management, 28(5), 100748.
  • Sun, Y., & Li, Y. (2021). COVID-19 Outbreak and financial performance of Chinese listed firms: Evidence from corporate culture and corporate social responsibility. Frontiers in Public Health, 9, 710743.
  • Taneja, B., & Bharti, K. (2023). Medical device companies crisis communication response to stakeholders during COVID-19: Pre-crisis stage to new normal. International Journal of Pharmaceutical and Healthcare Marketing, 17(2), 182–208.
  • Tengilimoğlu, D., Işık, O., & Akbolat, M. (2021). Sağlık İşletmeleri Yönetimi. Nobel.
  • Tengilimoğlu, D., Tümer, T., Bennett, R. L., & Younis, M. Z. (2023). Evaluating the Financial Performances of the Publicly Held Healthcare Companies in Crisis Periods in Türkiye. Healthcare, 11(18), Article 18. https://doi.org/10.3390/healthcare11182588
  • Tengilimoğlu, D., & Yiğit, V. (2021). Sağlık işletmelerinde tedarik zinciri ve malzeme yönetimi. Nobel.
  • Tümer, T., & Tengilimoğlu, D. (2023). Investigating The Effects of Covid-19 Pandemic on the Regional Tourism Sector Stock Indices. Anatolia: Journal of Tourism Research, 34(1), Article 1. https://doi.org/10.17123/atad.1145997
  • WHO. (2023). WHO coronavirus (COVID-19) dashboard. https://covid19.who.int/
  • Zheng, F., Zhao, Z., Sun, Y., & Khan, Y. A. (2023). Financial performance of China’s listed firms in presence of coronavirus: Evidence from corporate culture and corporate social responsibility. Current Psychology, 42(11), 8897–8918. https://doi.org/10.1007/s12144-021-02200-w
Toplam 28 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Sağlık Ekonomisi, Sağlık Politikası, Sağlık Kurumları Yönetimi
Bölüm Makaleler
Yazarlar

Tolga Tümer 0000-0002-5230-7886

Dilaver Tengilimioğlu 0000-0001-7101-1944

Eşref Uğur Çelik 0000-0001-9090-9346

Emine Kübra Dindar Demiray 0000-0001-6459-7182

Yayımlanma Tarihi 6 Ocak 2025
Gönderilme Tarihi 9 Ağustos 2024
Kabul Tarihi 9 Aralık 2024
Yayımlandığı Sayı Yıl 2024 Cilt: 8 Sayı: 2

Kaynak Göster

APA Tümer, T., Tengilimioğlu, D., Çelik, E. U., Dindar Demiray, E. K. (2025). Evaluation of the Financial Performances of the Medical Device Companies among Fortune 500 Companies before, during and after the COVID-19 Pandemic. Eurasian Journal of Health Technology Assessment, 8(2), 72-83. https://doi.org/10.52148/ehta.1530745
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