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All Journal Jurnal Ilmiah Manajemen Kesatuan Journal Integration of Management Studies
Ardelia, Rahmadina
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Financial Ratios Governance and Business Risk as Determinants of Corporate Efficiency in Emerging Markets Lestari, Henny Setyo; Widiastuti, Maria Carmelia; Ardelia, Rahmadina; Abdullah, M. Hussin
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 1 (2025): JIMKES Edisi Januari 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i1.3081

Abstract

Efficiency is a critical indicator of a company's performance, reflecting its ability to utilize resources effectively. Previous studies on efficiency have often presented inconsistent findings regarding the influence of financial ratios, corporate governance, and business risk. This study aims to analyze the effect of financial ratios (leverage, liquidity, profitability), good corporate governance, and business risk on the efficiency of manufacturing companies in Indonesia listed on the Indonesia Stock Exchange from 2017 to 2023. The study uses a sample of 67 manufacturing companies selected through purposive sampling, yielding 469 observations over seven years. Panel data regression analysis was employed using EViews 9 software to test the hypotheses. The results indicate that leverage and business risk positively influence company efficiency, while liquidity, profitability, and governance do not show a significant effect. These findings suggest that financial decision-making and risk management play a pivotal role in enhancing efficiency.  The study highlights the importance of managing leverage and mitigating business risks to optimize efficiency. Investors should consider these factors when evaluating potential investments. Future research should incorporate additional variables to provide a more comprehensive understanding of efficiency determinants.
Credit Risk And Internal Factors Affecting Profitability: Evidence From Indonesian Banks Ardelia, Rahmadina; Rahadi, Raden Aswin
Journal Integration of Management Studies Vol. 3 No. 1 (2025)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v3i1.326

Abstract

This study aims to analyse the effect of credit risk and internal bank factors on profitability in the Indonesian banking sector, focusing on institutions categorised under KBMI (Kelompok Bank berdasarkan Modal Inti) Groups 3 and 4, which are considered systemically important due to their large core capital. The research covers 2019–2023 and utilises a panel dataset comprising 13 banks, yielding 65 firm-year observations. Profitability is measured using Return on Assets (ROA) and Return on Equity (ROE) as dependent variables. The independent variables include Non-Performing Loans (NPL), Capital Adequacy Ratio (CAR), Liquidity, and Bank Size. Panel data regression was conducted using EViews 12. In the ROA model, Liquidity (β = 0.026, p = 0.0198) and Bank Size (β = 0.058, p = 0.0354) significantly influence profitability, whereas NPL and CAR do not. In the ROE model, only Bank Size (β = 0.464, p < 0.001) has a statistically significant positive impact. Other variables remain insignificant. The findings underscore the importance of scale in driving profitability for major banks. Bank managers should focus on strategic growth and liquidity management, while regulators may reassess the weight of NPL and CAR in evaluating bank performance within this group. This study enriches the literature by providing updated empirical evidence on the determinants of profitability in large Indonesian banks and highlights the relative influence of internal bank attributes in a post-pandemic financial landscape.
Co-Authors Abdullah, M. Hussin Lestari, Henny Setyo Rahadi, Raden Aswin Widiastuti, Maria Carmelia