THE IMPACT OF PROFITABILITY ON COMPANY VALUE WITH MEDIATION OF FINANCIAL DISTRESS IN CONVENTIONAL BANKING LISTED ON THE IDX 2020-2023
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Ida Fiatun(1*)
Department of Management, Faculty of Economics, Islamic University of Maulana Malik Ibrahim Malang
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Mardiana Mardiana(2)
Department of Management, Faculty of Economics, Islamic University of Maulana Malik Ibrahim Malang
(*) Corresponding Author
Keywords:
Firm Value, Profitabilitas, Financial Distress
Abstract
This study aims to examine if profitability impacts company value in conventional banking businesses listed on the IDX, the Indonesian Stock Exchange, during 2020-2023, using financial distress as a mediating variable. Using secondary data from the financial statements of 27 banks selected through purposive sampling techniques, this study adopts a quantitative methodology. Data analysis using path analysis with E-Views 12 software. Based on the study's results, financial distress significantly impacts company value, whereas profitability has no discernible impact. In addition, profitability significantly affects financial distress. However, the connection between company value and profitability cannot be mediated by financial distress. This study suggests that banks can manage financial distress effectively to increase firm value. Further research should consider other variables affecting firm value, such as macroeconomic conditions and stock market trends.
Keywords: Firm Value; Profitability; Financial Distress
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References
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Adaria, D., Komalasari, A., Kusumawardani, N., & Kiagus, A. (2022). Pengaruh Financial Distress Terhadap Nilai Perusahaan Sebelum Dan Saat Pandemi Covid-19. Jurnal Akuntansi Bisnis Dan Ekonomi, 8(1).
Ahmaddien, I., & Susanto, B. (2020). E-Views 9 Analisa Regresi Data Panel (M. Mirnawati, Ed.). Ideas Publishing.
Alvidianita, A., & Rachmawati, L. (2019). Pengaruh RGEC Terhadap Financial Distress Pada Bank Muamalat Indonesia. Jurnal Ekonomi Islam, 2(2).
Anggraini, F., Seprijon, Y. P., & Rahmi, S. (2020). Pengaruh Intellectual Capital Terhadap Nilai Perusahaan Dengan Financial Distress Sebagai Variabel Intervening. Jurnal Informasi, Perpajakan, Akuntansi, Dan Keuangan Publik, 15(2), 169–190. https://doi.org/10.25105/jipak.v15i2.6263
Aprilia, W., & Hapsari, N. (2021). Pengaruh Tingkat Kesehatan Bank Melalui Metode Rgec Terhadap Nilai Perusahaan (Studi Kasus Pada Perusahaan Perbankan Yang Terdaftar Di Bursa Efek Indonesia Periode 2016-2020). Neraca Keuangan : Jurnal Ilmiah Akuntansi Dan Keuangan, 16(2).
http://ejournal.uikabogor.ac.id/index.php/neraca/index
Basuki, A. T. (2021). Analisis Data Panel Dalam Penelitian Ekonomi Dan Bisnis (Dilengkapi Dengan Penggunaan Eviews) (1st ed.). UMY.
Damayanti, C. R., Saifun, M. S., & Hikmah, M. (2020). RGEC Bank’s Performance and Value: Evidence From Indonesia. Advances in Economics, Business and Management Research, 154.
Dewi, M., Foanto, G. N., & Christiawan, Y. J. (2021). Profitability, Liquidity, and Firm Value: Does Financial Distress Have a Mediating Effect? (Study of Manufacturing Companies in Indonesia). 6th International Conference on Tourism, Economics, Accounting, Management, and Social Science (TEAMS 2021).
Endaryono, B. T. (2019). Manajemen Keuangan. GICI Business School.
Goh, T. S. (2023). Monograf: Financial Distress (1st ed.). Indomedia Pustaka. www.indomediapustaka.com
Hasan, N. I. (2014). Pengantar Perbankan. Gaung Persada Press Group.
Herlangga, M. A., & Yunita, I. (2020, December). Pengaruh Financial Distress Terhadap Nilai Perusahaan Pada Perbankan Konvensional Di Bursa Efek Indonesia Periode 2014 - 2018. E-Proceeding of Management. www.Idx.co.id,
Hermawan, A., & Fajrina, A. N. (2017). Financial Distress dan Harga Saham. Mer-C Publishing.
Irnawati, J. (2021). Nilai Perusahaan dan Kebijakan Deviden Pada Perusahaan Contruction and Engineering Pada Bursa Efek Singapura (Tri Anggoro Seto, Ed.). CV. Pena Persada.
Kamaruddin, P., Astiti, N. P. Y., Mahyuddin, M., Damanik, H. M., Wardhana, A., Nurhidayah, Pramayuda, A., & et al. (2020). Bank dan Lembaga Keuangan Lainnya (Bahri Syaiful, Ed.). CV. Media Sains Indonesia.
Kareem, E. M., Supriyadi, D., & Suartini, S. (2022). The Influence Of Capital Adequacy Ratio, Credit Risk, Profitability And Liquidity Against Financial Distress In Banking Companies Listed On The Indonesia Stock Exchange For The Period Of 2016-2020. COSTING:Journal of Economic, Business and Accounting, 5(2), 1106–1121.
Kusumawati, T. T., & Haryanto, A. M. (2022). Pengaruh Financial Distress Terhadap Nilai Perusahaan (Studi Kasus pada Perusahaan Property and Real Estate yang Terdaftar dalam Bursa Efek Indonesia (BEI) Periode Tahun 2016-2020). Diponegoro Journal Of Management, 11(1).
https://ejournal3.undip.ac.id/index.php/djom/index
Labita, M., & Yudowati, S. P. (2020). Analisis Penilaian Kesehatan Bank Berbasis RGEC Terhadap Financial Distress. Jurnal Mitra Manajemen, 4(9).
Marsella, P., & Pangestuti, D. C. (2023). Assessment of bank’s health using analysis risk profile, good corporate governance, earnings, capital (RGEC). International Journal of Research in Business and Social Science (2147- 4478), 12(3), 237–248. https://doi.org/10.20525/ijrbs.v12i3.2571
Mulansari, R., & Setiyorini, W. (2019). Pengaruh Good Corporate Governance dan Financial Indicators terhadap Financial Distress pada Perusahaan Property dan Real Estate. Jurnal Akuntansi Dan Perpajakan, 5(2), 62–64. http://jurnal.unmer.ac.id/index.php/ap
Nianty, D. A., & Amin, A. (2023a). Peningkatan Kinerja Keuangan Perbankan. Penerbit Nobel Press.
Nianty, D. A., & Amin, A. (2023b). Peningkatan Kinerja Keuangan Perbankan Melalui Rasio Keuangan. Penerbit Nobel Press.
Ningrum, E. P. (2021). Nilai Perusahaan (Konsep dan Aplikasi) (Kodri, Ed.). CV Adanu Abimata. http://www.PenerbitAdab.id
Prabawati, N. P. S., Pradnyani, N. D. A., & Suciwati, D. P. (2021). Pengaruh RGEC (Risk Profile, Good Corporate Governance, Earnings, dan Capital) Terhadap Nilai Perusahaan (Studi Kasus Perusahaan Perbankan di BEI 2016-2018. JBK: Jurnal Bisnis & Kewirausahaan, 17(1).
Sahir, S. H. (2021). Metodologi Penelitian (T. Koryati, Ed.). Penerbit KBM Indonesia. www.penerbitbukumurah.com
Setiyowati, S. W., & Mardiana. (2022). Profitabilitas terhadap Financial Distress Dimediasi Corporate Social Responsibility. 18(1), 2022. http://ejournal.uin-malang.ac.id/index.php/ekonomi
Sitorus, L. P. (2020). Metode Altman Z-Score Untuk Memprediksi Financial Distress. Jurnal Ilmu Dan Riset Akuntansi, 9(8).
Wibowo, A. E. (2021). Metode Penelitian: Pegangan Untuk Penulis Karya Ilmiah (A. Kurniawan, L. Forsia, & H. Nuraini, Eds.). Penerbit Insania.
http://insaniapublishing.com
Published
2025-03-09
How to Cite
Fiatun, I., & Mardiana, M. (2025). THE IMPACT OF PROFITABILITY ON COMPANY VALUE WITH MEDIATION OF FINANCIAL DISTRESS IN CONVENTIONAL BANKING LISTED ON THE IDX 2020-2023. Journal of Management : Small and Medium Enterprises (SMEs), 18(1), 747-758. https://doi.org/10.35508/jom.v18i1.20755
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Articles
