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Contact Name
Iman Lubis
Contact Email
indonesianfinancialreview@gmail.com
Phone
+6287876253358
Journal Mail Official
indonesianfinancialreview@gmail.com
Editorial Address
Kp. Sukasari No.52 Rt.001 Rw.001 Desa Kabasiran Kecamatan Parung Panjang Kabupaten Bogor
Location
Kab. bogor,
Jawa barat
INDONESIA
Indonesian Financial Review
ISSN : -     EISSN : 28073886     DOI : https://doi.org/10.55538/ifr.v1i1
Core Subject : Economy,
The intent of the Editors of The Indonesia Financial Review is to discuss, explore, and disseminate the latest issues and developments in Empirical Financial Economics (JEL classification: G), particularly those related to financial frictions in the Emerging Markets. The others are accepted such as capital markets, financial institutions and services, corporate finance, risk modeling and management, market microstructure in financial markets, Islamic finance, behavioral finance, and financial crisis.
Articles 83 Documents
Fundamental Financial Performance and Stock Prices: Panel Data Evidence from Indonesian State-Owned Conventional Banks Saksono Budi; Siti Asmonah; Angga Pratama
Indonesian Financial Review Vol. 6 No. 1 (2026)
Publisher : Yayasan Pendidikan Penelitian dan Pengabdian Al-amsi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55538/ifr.v6i1.165

Abstract

The research sample comprised four Indonesian state-owned conventional banks listed on the Indonesia Stock Exchange (IDX) during 2016–2024: PT Bank Negara Indonesia Tbk (BBNI), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMRI), and PT Bank Tabungan Negara Tbk (BBTN). Using purposive sampling, the study analyzed 36 balanced panel observations from annual reports and financial statements. Data analysis employed panel data regression with EViews 13, including the Chow, Hausman, and Lagrange Multiplier tests for model selection. The results indicated that Return on Assets (ROA) had a negative but insignificant effect on stock prices (p = 0.2683), whereas Earnings per Share (EPS) had a positive and significant effect (p = 0.0304). Simultaneously, ROA and EPS significantly influenced stock prices (F = 11.8056; p < 0.001), with an adjusted R-squared of 60.69%.
The Effect of Women on the Board of Directors, Firm Size, and Profitability on Firm Value at PT Astra Agro Lestari Tbk for the 2015–2024 Period julia pramita; Ifa Nurmasari
Indonesian Financial Review Vol. 6 No. 1 (2026)
Publisher : Yayasan Pendidikan Penelitian dan Pengabdian Al-amsi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55538/ifr.v6i1.144

Abstract

This study examines the associations of women’s representation on the board of directors (WOBD), firm size, and profitability with firm value at PT Astra Agro Lestari Tbk during 2015–2024. Using ten annual observations, the study employs descriptive statistics and multiple linear regression. The results show that WOBD has a negative but insignificant coefficient (? = ?0.031; p = 0.146), firm size has a negative and significant coefficient (? = ?4.320; p = 0.002), and net profit margin (NPM) has a negative but insignificant coefficient (? = ?0.006; p = 0.773). The overall model is significant (F = 12.874; p = 0.005), with an R² of 0.866. Firm size is negatively associated with firm value, whereas WOBD and NPM show no significant partial associations. These findings should be interpreted cautiously due to the small sample and limited variation in WOBD.
Analysis of Bank Soundness Using the RGEC Method in State-Owned Banks for the 2020–2024 Period Alyfia Devianingsih; Dede Hendra
Indonesian Financial Review Vol. 6 No. 1 (2026)
Publisher : Yayasan Pendidikan Penelitian dan Pengabdian Al-amsi

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study descriptively compares the financial soundness indicators of Bank Mandiri, Bank Rakyat Indonesia (BRI), Bank Negara Indonesia (BNI), and Bank Tabungan Negara (BTN) during 2020–2024 using selected indicators associated with the RGEC framework: NPL, LDR, GCG, ROA, ROE, and CAR. The results show that the yearly average NPL remained below 5%, while average LDR increased in 2023–2024 after declining in 2021–2022. The disclosed GCG ratings were stable in the reported data; average ROA improved between 2020 and 2023 before declining slightly in 2024, while average ROE rose through 2023 and declined in 2024. The reported average CAR remained above 19% throughout the period. These are descriptive findings based on the values compiled by the authors. The previously reported overall composite percentages are not retained because the manuscript did not provide a reproducible indicator-level scoring trial or a verified regulatory basis for those author-created classifications.