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All Journal Indonesian Journal of Business Analytics (IJBA) Journal Research of Social Science, Economics, and Management
Agustina
Universitas Swadaya Gunung Jati
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science

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The Effect of Profitability on Firm Value with Dividend Policy as an Intervening Variable in the Banking sector at the Indonesian Stock Exchange (BEI) for the 2022-2024 Period Wulan Sri Hartati; Maiyaliza; Agustina
Indonesian Journal of Business Analytics Vol. 6 No. 3 (2026): June 2026
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijba.v6i3.16572

Abstract

The purpose of this study is to examine how profitability affects the value of businesses in the banking industry that are listed on the Indonesia Stock Exchange (IDX) between 2022-2024, using dividend  policy as an intervening variable. The background of this research is based on increasing investor attention to company value amid the dynamics of post-pandemic economic recovery and monetary policy fluctuations. Return on Assets (ROA), Dividend Payout Ratio (DPR) for dividend policy, and Tobin's Q for firm valuation were used to gauge profitability. Using the Structural Equation Modeling (SEM) method based on Partial Least Squares (PLS) and SmartPLS software, this study employed a quantitative methodology. The yearly financial statements of banking firms that were listed on the IDX during the study period served as the secondary data source.  The study's findings demonstrate that a company's worth is positively impacted by profitability. However, dividend policy is negatively impacted by profitability, and company value is negatively impacted by dividend policy. Although their indirect impact is minimal, dividend policies have been demonstrated to moderate the relationship between profitability and firm value. These results are consistent with residual dividend theory and signaling theory, which explain why profitable businesses typically retain earnings for internal purposes in order to sustain long-term growth. In order to boost the firm's value in a sustainable way, this research has significance for investors and company management when deciding on dividend policies and profit management tactics.
Unveiling the NIM Pathway: How LDR and Efficiency Shape Bank Profitability Gita Imelda Farel; Mardiyani; Agustina
Indonesian Journal of Business Analytics Vol. 6 No. 4 (2026): August 2026
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijba.v6i4.16777

Abstract

This study examines the effects of LDR and operational efficiency on bank profitability, with NIM as the mediating variable. A quantitative associative-causal approach via path analysis (LISREL 10.20) was applied to 38 conventional banks listed on the IDX from 2022 to 2024, selected through purposive sampling. Results show LDR does not have a significant positive effect on profitability, while operational efficiency has a significant negative effect. NIM positively affects profitability; LDR positively affects NIM; operational efficiency negatively affects NIM. NIM serves as a positive mediator between LDR and profitability, and a negative mediator between operational efficiency and profitability, making it the primary mechanism linking intermediation and cost control to bank profit performance. Banks are therefore recommended to maximize interest margins.
The Impact of Credit Risk and Capital Adequacy on Profitability: The Mediating Role of Net Interest Margin Dilla Elisya; Mardiyani; Agustina
Journal Research of Social Science, Economics, and Management Vol. 6 No. 1 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v6i1.1571

Abstract

Bank profitability is essential for maintaining financial-sector stability and supporting sustainable economic intermediation. This study examines the effects of credit risk and capital adequacy on profitability and investigates the mediating role of net interest margin in conventional commercial banks listed on the Indonesia Stock Exchange during 2022–2024. A quantitative causal-associative design was employed using secondary financial data. The population consisted of 42 banks, from which 34 banks were selected through purposive sampling, producing 102 observations. Data were analyzed using path analysis with LISREL 10.20. The results show that Non-Performing Loans (NPL) significantly affect Return on Assets (ROA), whereas the Capital Adequacy Ratio (CAR) has no significant direct effect on ROA. NPL does not significantly affect Net Interest Margin (NIM), while CAR has a significant effect on NIM. Furthermore, NIM significantly and positively affects ROA. The mediation analysis indicates that NIM does not mediate the relationship between NPL and ROA but significantly mediates the relationship between CAR and ROA. These findings demonstrate that profitability is primarily associated with credit quality and intermediation performance, while capital adequacy contributes indirectly through its ability to strengthen net interest income generation and improve banking profitability. These results provide practical implications for effective bank financial management.
Co-Authors Dilla Elisya Gita Imelda Farel Maiyaliza Mardiyani Wulan Sri Hartati