EBSJ
Vol. 10 No. 1 (2026): Economics and Business Solutions Journal

Factors Determining Financial Performance in Financial Companies In 2020-2024

Adhi Widyakto (Department of Management, Faculty of Economics, Semarang University, Indonesia)
Tri Rinawati (Department of Management, Faculty of Economics, Semarang University, Indonesia)
Ayu Nurafni Octavia (Department of Management, Faculty of Economics, Semarang University, Indonesia)
Susanto Susanto (Department of Management, Faculty of Economics, Semarang University, Indonesia)
Sugeng Rianto (Department of Management, Faculty of Economics, Semarang University, Indonesia)



Article Info

Publish Date
14 Apr 2026

Abstract

This study aims to determine the company's financial performance by testing the influence of independent variables, namely Loan to Deposit Ratio (X1), Non-Performing Loan (X2), and LN Size (X3), on the dependent variable, namely firm value (Y), in financing companies listed on the Indonesia Stock Exchange during the period 2021–2024. The sample used in this study consisted of 36 companies selected using purposive sampling techniques, then multiplied by four years of research, resulting in a total of 144 company observations analyzed. The data analysis method employed is SmartPLS 4.0. The results of the study show that the Loan to Deposit Ratio has a positive and significant effect on Price Book Value. The Non-Performing Loan has a positive and significant effect on Price Book Value. LN Size also has a positive and significant effect on Price Book Value. The Loan to Deposit Ratio on Price Book Value with Return on Assets as a moderating variable shows a positive and significant effect. The Non-Performing Loan on Price Book Value with Return on Assets as a moderating variable shows a negative and insignificant effect. Meanwhile, LN Size on Price Book Value with Return on Assets as a moderating variable shows a positive and significant effect

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Journal Info

Abbrev

ebsj

Publisher

Subject

Economics, Econometrics & Finance

Description

Economics and Business Solutions Journal is an International Scientific Journal, published by Fakultas Ekonomi Universitas Semarang (USM), Central Java, Indonesia. Economics and Business Solutions Journal is intended to the national and international scholarly community. The aim of this journal is ...