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Warmadewa Management and Business Journal (WMBJ)
Published by Universitas Warmadewa
ISSN : 2654816X     EISSN : 26548151     DOI : https://doi.org/10.22225/wmbj
Core Subject : Economy,
Economics, Econometrics & Finance
Warmadewa Management And Business Journal (WMBJ), ISSN: 2654-8151 (online) 2654-816X (Print), is a Journal Research of Economiy Science published by Warmadewa Press jointly with Faculty of Economy, Universitas Warmadewa. This journal is also dedicated to provide an intellectual space of scholarly discussion how journal of Economiy especially Management Science able to create the new global formation of Economy especially Management Science and similar issues. This journal has been distributed by Faculty of Economy, Universitas Warmadewa, Universitas Warmadewa started Online from Volume 1Number 1 Year 2018 to present. This journal encompasses original research articles, review articles, and short communications, including: Financial management HR management Marketing management Operational management Tourism management International Business Entrepreneurship
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Tourism, Leisure and Hospitality Management
Articles 1 Documents
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Search results for , issue "42-51" : 1 Documents clear
Profitability Stability and Liquidity Risk Mitigation: An Empirical Analysis of Indonesian Guarantee Institutions Ahmad, Azizah Akbariani; Karimah, Husna; Akbar, Muhammad Ariq Athallah
Warmadewa Management and Business Journal (WMBJ) 42-51
Publisher : Fakultas Ekonomi Universitas Warmadewa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22225/wmbj.6.1.2026.42-51

Abstract

This study examines the resilience of profitability (Return on Assets) within Indonesian Guarantee Institutions, specifically focusing on withstanding the stress testing triggered by the COVID-19 pandemic. Adopting a quantitative approach, this research analyzed monthly secondary data from the Financial Services Authority (OJK) spanning January 2016 to June 2022 to capture the complete crisis cycle, from the initial stability phase to the subsequent recovery. The data analysis utilized Multiple Linear Regression via the Ordinary Least Squares (OLS) method on 76 observations following data transformation. The empirical results revealed a "Solvency Paradox," wherein the Solvency Margin Ratio (SMR) exerted a significant negative effect on ROA, suggesting capital allocation inefficiencies stemming from overly conservative management policies. In contrast, the Liquidity Ratio and Capital Adequacy Ratio demonstrated significant positive impacts, functioning as essential pillars of financial resilience and primary shock absorbers during periods of volatility. Furthermore, the Incurred Claims ratio and Gearing Ratio yielded no significant effect; this reflects the efficacy of risk transfer mechanisms through reinsurance in insulating net profits from operational shocks. Managerial implications emphasize the necessity of strategic repositioning—moving beyond passive capital accumulation toward the optimization of liquid investment instruments to sustain an equilibrium between financial security and profitability.

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