• ISSN: 2301-3567 (Print), 2972-3981 (Online)
    • Abbreviated Title: J. Econ. Bus. Manag.
    • Frequency: Quarterly
    • DOI: 10.18178/JOEBM
    • Editor-in-Chief: Prof. Eunjin Hwang
    • Executive Editor: Ms. Fiona Chu
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HOME > Archive > 2022 > Volume 10 Number 1 (Feb. 2022) >
JOEBM 2022 Vol.10(1): 34-40 ISSN: 2301-3567
DOI: 10.18178/joebm.2022.10.1.670

Analysis and Evaluation of Firm Performance before and during COVID-19 Pandemic: A Case Study of Ocean Bio-Chem INC, Based on 2016-2020 Data

Minxi Luo, Qiwen Mao, Shuyi Wang, and Junlin You

Abstract—The COVID-19 pandemic has had a significant impact on the manufacturing industry and the stock market in the United States. However, Ocean Bio-Chem, Inc., a US-listed company, does not perform as negatively as most companies in the market after the outbreak of the COVID-19. This study evaluates the performance of Ocean Bio-Chem, Inc. in terms of 4 aspects: growth, profitability, valuation, and dividend payout. Based on the data from 2016 to 2020, this study analyzes Ocean Bio-Chem, Inc.’s performance over the five years and compares it with the entire U.S. stock market and six competitors from the same industry. According to the results, it performs well in all these aspects compared to the entire U.S. stock market. While comparing Ocean Bio-Chem, Inc. with competitors, in addition to the poor performance of dividend payout, the other three aspects belong to its competitive advantage. This research offers a guideline for selecting investment objects in the U.S. stock market after the pandemic outbreak. In the future, researchers can further control variables by choosing companies in the same industry with similar firm sizes for comparison.

Index Terms—Firm performance, COVID-19, growth rate, profitability, valuation, dividend payout.

M. Luo is with Faculty of Business, Xiamen University Malaysia, Sepang, Malaysia (e-mail: ACC1909025@xmu.edu.my). Q. Mao is with University of Waikato Joint Institute, Zhejiang University City College, Hangzhou, China (e-mail: 31911221@stu.zucc.edu.cn). S. Wang is with Faculty of Business and Administration, The Chinese University of Hong Kong, Hong Kong, China (e-mail: 1155157046@link.cuhk.edu.hk). J. You is with Faculty of Business, University of Nottingham Ningbo China, Ningbo, China (e-mail: biyjy18@nottingham.edu.cn).

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Cite:Minxi Luo, Qiwen Mao, Shuyi Wang, and Junlin You, "Analysis and Evaluation of Firm Performance before and during COVID-19 Pandemic: A Case Study of Ocean Bio-Chem INC, Based on 2016-2020 Data ," Journal of Economics, Business and Management vol. 10, no. 1, pp. 34-40, 2022.

Copyright © 2022 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

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