Seeing the current condition in today's global pandemic, where people are faced with uncertainty, economic fall down and unstable environment. It forces companies to be mindful of spending, and borrowing towards their companies' leverage. This caused by a shift of companies borrowing that interconnected with companies' leverage and spending behavior in regard to the covid-19 pandemic. Companies started to layoff workers not only in Indonesia but also globally. This development encourages companies to be more cautious of spending and also borrowing either for terms of future benefit or indirect benefits. This research uses panel data collection methods that are gathered and analyzed in eviews, with a total 100 listed companies in the IDX.
Based on my 6 independent variables which are profitability, asset tangibility, firm size, non-debt tax shield, liquidity, and growth opportunities we can state that they have correlation with the dependent variable which is leverage. Although some of the data can be maximized as the year goes on, we can already analyze from the result that in some of the variable by the existence of Covid-19 it affects them significantly. Companies started to be more aware of borrowing and creating clear goals of success.