Pengaruh Kualitas Aset dan Kecukupan Modal terhadap Nilai Perusahaan pada Bank Umum Konvensional di BEI  Periode 2021-2025

Roza Kusuma Mayda Mahardika; Rendra Arief Hidayat

doi:10.61132/moneter.v4i4.2727

Authors

Roza Kusuma Mayda Mahardika Universitas Negeri Surabaya
Rendra Arief Hidayat Universitas Negeri Surabaya

DOI:

https://doi.org/10.61132/moneter.v4i4.2727

Keywords:

Asset Quality, Capital Adequacy, Conventional Commercial Banks, Firm Value, Panel Data

Abstract

The impact of asset quality based on the gross Non-Performing Loan (NPL) indicator and capital adequacy based on the Capital Adequacy Ratio (CAR) indicator on firm value proxied by Price to Book Value (PBV) was analyzed in the conventional commercial banking sector listed on the Indonesia Stock Exchange for the period from 2021 to 2025. Secondary data collection was conducted through a quantitative approach based on annual reports, financial statements, and stock market data. The purposive sampling scheme yielded a sample of 35 banks, equivalent to 175 bank-year observations, of which after the removal of 39 outlier observations, 136 observations remained to be processed using panel data regression. The Random Effect Model (REM) was selected as the primary estimation model in the study. The regression estimation reveals that NPL has a positive and significant effect on PBV with a coefficient of 3.953733 and a probability of 0.0090, thus contradicting the hypothesis of a negative effect. The CAR coefficient is recorded as negative at 0.010713 with no significant effect on PBV at a probability of 0.9683, resulting in the unsupported hypothesis of a positive effect. Simultaneously, the significant effect of NPL and CAR on PBV is proven through a Prob(F-statistic) of 0.037024, but the R-squared value of 0.048358 indicates that the explanatory power of the PBV variation remains low and opens up opportunities for the influence of other external factors.

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