Purpose of this research is to analyze the influence of banking competition, the implementation of sustainable financial policies, with Net Interest Margin, Capital Adequacy Ratio, Loan to Deposit Ratio, Non-Performing Loan as control variables on the value of banking companies in Indonesia with profitability as a mediating variable and COVID-19 as a moderating variable. The sample was taken using purposive sampling with the criteria of banking stocks listed on the Indonesian Stock Exchange from 2018-2022. The research uses panel data regression with the unbalanced method. Results shown, Market Share, Herfindahl-Hirschman Index, Corporate Governance Index, Loans to Deposit Ratio, Non-Performing Loans, Market Share moderated by COVID-19, and Social Index moderated by COVID-19 were proven to have a negative and significant impact on Return on Assets. Economic Index, Environmental Index, Capital Adequacy Ratio, and Environmental Index moderated by COVID-19 were not proven to have a significant effect on Return on Asset. Social Index, Net Interest Margin, Herfindahl-Hirschman Index moderated by COVID-19, Economic Index moderated by COVID-19, and Corporate Governance Index moderated by COVID-19 were proven to have a positive and significant effect on Return on Asset. Return on Asset has been proven to have a positive and significant effect on Tobin’s Q, whereas Return on Asset moderated by COVID-19 has not been proven to have a significant effect on Tobin’s Q.
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