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All Journal IIJSE Majapahit Journal of Islamic Finance dan Management Majapahit Journal of Islamic Finance dan Management
Imron Rosyadi
Universitas Muhammadiyah Surakarta, Surakarta, Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Determinants of Profitability in Islamic Commercial Banks Shelvita Meilani Kusuma Wati; Imron Rosyadi
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 1 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i1.6001

Abstract

This study investigates the elements that affect profitability in Islamic Commercial Banks (BUS) in Indonesia from 2019 to 2023. It specifically analyzes the influence of the Capital Adequacy Ratio (CAR), Non-Performing Financing (NPF), and MSME Financing on Return on Assets (ROA). Utilizing secondary time-series data from 12 banks overseen by the Financial Services Authority (OJK), a quantitative descriptive methodology is applied. The relationships among these variables are evaluated through multiple linear regression and classical assumption testing. The findings reveal that CAR significantly and positively affects ROA, indicating that higher capital reserves improve financial stability and support operational activities. Conversely, NPF does not significantly affect ROA, implying that although it introduces certain risks, it does not directly hinder profitability. Additionally, MSME financing does not exhibit a significant effect on ROA, as delayed repayments may hinder profit management.
Analysis of the Effect of Cash Management on Profit Performance with Liquidity as a Moderating Variable in Pharmacy Companies in Indonesia Rizkha Arum Cantika; Imron Rosyadi
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.660

Abstract

This study investigates how cash management influences profit performance in Indonesian pharmacy companies, with liquidity positioned as a moderating factor. Using a quantitative approach rooted in the positivist paradigm, the research analyzes secondary data obtained from audited financial statements of pharmacy firms listed on the Indonesia Stock Exchange for the 2021–2024 period. Cash Turnover, Return on Assets (ROA), and the Current Ratio (CR) were used as key indicators to represent cash management, profit performance, and liquidity. Multiple linear regression and Moderated Regression Analysis (MRA) were applied after meeting classical assumption requirements, including tests for normality, multicollinearity, heteroskedasticity, and autocorrelation. The empirical findings indicate that cash management significantly and negatively affects profit performance, suggesting that overly rapid cash turnover may reflect insufficient cash reserves and can weaken profitability. Liquidity shows a positive and significant effect on profit performance, demonstrating its role in supporting operational stability. Additionally, liquidity moderates the relationship between cash management and profit performance by reducing the strength of this influence. These results highlight the importance of balanced cash management and optimal liquidity conditions in ensuring financial sustainability within pharmacy companies. The study also recommends expanding future research through additional variables, broader samples, and alternative analytical frameworks.
Analysis of the Effect of Cash Management on Profit Performance with Liquidity as a Moderating Variable in Pharmacy Companies in Indonesia Rizkha Arum Cantika; Imron Rosyadi
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.660

Abstract

This study investigates how cash management influences profit performance in Indonesian pharmacy companies, with liquidity positioned as a moderating factor. Using a quantitative approach rooted in the positivist paradigm, the research analyzes secondary data obtained from audited financial statements of pharmacy firms listed on the Indonesia Stock Exchange for the 2021–2024 period. Cash Turnover, Return on Assets (ROA), and the Current Ratio (CR) were used as key indicators to represent cash management, profit performance, and liquidity. Multiple linear regression and Moderated Regression Analysis (MRA) were applied after meeting classical assumption requirements, including tests for normality, multicollinearity, heteroskedasticity, and autocorrelation. The empirical findings indicate that cash management significantly and negatively affects profit performance, suggesting that overly rapid cash turnover may reflect insufficient cash reserves and can weaken profitability. Liquidity shows a positive and significant effect on profit performance, demonstrating its role in supporting operational stability. Additionally, liquidity moderates the relationship between cash management and profit performance by reducing the strength of this influence. These results highlight the importance of balanced cash management and optimal liquidity conditions in ensuring financial sustainability within pharmacy companies. The study also recommends expanding future research through additional variables, broader samples, and alternative analytical frameworks.
Co-Authors Rizkha Arum Cantika Shelvita Meilani Kusuma Wati