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All Journal Scientific Journal of Reflection : Economic, Accounting, Management and Business
Fitri Febianti
Universitas Asahan
Economics, Econometrics & Finance

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Pengaruh Return on Investment, Debt to Asset Ratio, dan Interest Coverage Ratio terhadap Kinerja Keuangan pada Perusahaan Subsektor Keuangan di Indonesia Periode 2021-2024 Fitri Febianti; Zulfa Khairina Batubara
SCIENTIFIC JOURNAL OF REFLECTION : Economic, Accounting, Management and Business Vol. 9 No. 3 (2026): SCIENTIFIC JOURNAL OF REFLECTION: Economic, Accounting, Management, & Business
Publisher : Sekolah Menengah Kejuruan (SMK) Pustek

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37481/sjr.v9i3.1504

Abstract

This study addresses the inconsistency of financial performance indicators in Indonesia’s financial subsector during the post-pandemic recovery period. It aims to examine the effect of Return on Investment (ROI), Debt to Asset Ratio (DAR), and Interest Coverage Ratio (ICR) on financial performance proxied by Return on Equity (ROE). A quantitative approach was employed using secondary data derived from annual financial statements of financial subsector companies listed on the Indonesia Stock Exchange over the 2021–2024 period. The sample consisted of 10 companies selected through purposive sampling, resulting in 40 observations. Data were analyzed using multiple linear regression supported by classical assumption tests. The findings indicate that ROI and ICR have a positive and significant effect on ROE, while DAR does not show a significant effect. Simultaneously, ROI, DAR, and ICR significantly influence ROE. The model explains 44.5% of the variation in ROE, suggesting that other factors beyond the model also contribute to financial performance. These results highlight the importance of investment efficiency and the ability to meet interest obligations in improving profitability within the financial subsector.
Co-Authors ZULFA KHAIRINA BATUBARA