PENGARUH GREEN FINANCING, KECUKUPAN MODAL, RISIKO KREDIT DAN EFISIENSI TERHADAP NILAI PERUSAHAAN DIMEDIASI PROFITABILITAS

PUTRI, TRI KARTINI (2025) PENGARUH GREEN FINANCING, KECUKUPAN MODAL, RISIKO KREDIT DAN EFISIENSI TERHADAP NILAI PERUSAHAAN DIMEDIASI PROFITABILITAS. S2 thesis, Universitas Mercu Buana Jakarta - Menteng.

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Abstract

This study analyzes the effect of green financing, capital adequacy, credit risk, and efficiency on firm value with profitability as a mediating variable in commercial banks included in the LQ45 index for the 2019-2023 period. The population of this research consists of banking companies included in the LQ45 index on the Indonesia Stock Exchange (IDX) for the 2019–2023 period, resulting in seven banks. The sampling technique employed is purposive sampling, through which a total of six conventional commercial banks were selected as the research sample. Using a quantitative approach with panel data regression analysis, this study processes secondary data from bank financial reports on the Indonesia Stock Exchange. The independent variables consist of green financing, capital adequacy (CAR), credit risk (NPL), and efficiency (BOPO), while firm value is measured by Price to Book Value (PBV) and profitability is proxied by Return on Assets (ROA). The results of the direct test show that GF and CAR have no effect on ROA or PBV. Conversely, NPL and BOPO have a negative effect on ROA and PBV, while ROA has a positive effect on PBV. The results of the mediation test show that ROA is only able to mediate the effect of BOPO on PBV, while it is unable to mediate the effect of GF, CAR, and NPL on PBV. The results of this study indicate that operational efficiency has an important role in increasing company value through profitability, while Green Financing and capital adequacy have not provided a significant impact either directly or indirectly. Thus, increasing internal efficiency contributes more to the creation of company value than Green Financing efforts or capital strengthening in the period studied. Penelitian ini menganalisis pengaruh green financing, kecukupan modal, risiko kredit, dan efisiensi terhadap nilai perusahaan dengan profitabilitas sebagai variabel mediasi pada bank umum yang tergabung dalam indeks LQ45 periode 2019-2023. Populasi dalam penelitian ini adalah perusahaan perbankan yang terdaftar di BEI LQ45 periode 2019-2023 sehingga di dapatkan 7 perusaahaan Bank. Teknik pengambilan sampel yang digunakan adalah purposive sampling, sehingga total 6 perusahaan Bank Umum Konvensional digunakan dalam penelitian ini. Menggunakan pendekatan kuantitatif dengan analisis regresi data panel, penelitian ini mengolah data sekunder dari laporan keuangan bank di Bursa Efek Indonesia. Variabel independen terdiri dari green financing, kecukupan modal (CAR), risiko kredit (NPL), dan efisiensi (BOPO), sedangkan nilai perusahaan diukur dengan Price to Book Value (PBV) dan profitabilitas diproksikan melalui Return on Assets (ROA). Hasil uji langsung menunjukkan bahwa GF dan CAR tidak berpengaruh terhadap ROA maupun PBV. Sebaliknya, NPL dan BOPO berpengaruh negatif terhadap ROA dan PBV, sedangkan ROA berpengaruh positif terhadap PBV. Hasil uji mediasi menunjukkan bahwa ROA hanya mampu memediasi pengaruh BOPO terhadap PBV, sementara tidak mampu memediasi pengaruh GF, CAR, dan NPL terhadap PBV. Hasil penelitian ini mengindikasikan bahwa efisiensi operasional memiliki peran penting dalam meningkatkan nilai perusahaan melalui profitabilitas, sedangkan Green Financing dan kecukupan modal belum memberikan dampak signifikan baik secara langsung maupun tidak langsung. Dengan demikian, peningkatan efisiensi internal lebih berkontribusi terhadap penciptaan nilai perusahaan dibandingkan upaya pembiayaan hijau maupun penguatan permodalan pada periode yang diteliti.

Item Type: Thesis (S2)
NIM/NIDN Creators: 55123110028
Uncontrolled Keywords: Green financing, Capital Adequacy, Credit Risk, Efficiency, Profitability, Firm Value, Banking. Green financing, Kecukupan Modal, Risiko Kredit, Efisiensi, Profitabilitas, Nilai Perusahaan, Perbankan.
Subjects: 400 Language/Bahasa > 400. Language/Bahasa > 406 Organizations and management/Organisasi dan Manajemen
Divisions: Pascasarjana > Magister Manajemen
Depositing User: ZAIRA ELVISIA
Date Deposited: 13 Mar 2026 01:45
Last Modified: 13 Mar 2026 01:45
URI: http://repository.mercubuana.ac.id/id/eprint/101600

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