Pengaruh profitabilitas, likuiditas, dan financial distress terhadap nilai perusahaan: Studi Bank Umum Syariah Periode 2018-2024

INDONESIA:

Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas, likuiditas, dan financial distress terhadap nilai perusahaan pada Bank Umum Syariah di Indonesia periode 2018–2024. Penelitian ini menggunakan pendekatan kuantitatif dengan data sekunder yang diperoleh dari laporan keuangan tahunan Bank Umum Syariah. Sampel penelitian ditentukan menggunakan teknik purposive sampling sehingga diperoleh 10 Bank Umum Syariah dengan periode pengamatan selama tahun 2018–2024. Analisis data dilakukan menggunakan regresi data panel dengan bantuan aplikasi EViews 13, di mana berdasarkan hasil pengujian model,
Common Effect Model (CEM) merupakan model yang paling sesuai.
Hasil penelitian menunjukkan bahwa secara parsial profitabilitas yang diproksikan dengan Return on Assets (ROA) tidak berpengaruh signifikan terhadap nilai perusahaan, likuiditas yang diproksikan dengan Financing to Deposit Ratio (FDR) berpengaruh negatif dan signifikan terhadap nilai perusahaan, sedangkan financial distress yang diproksikan menggunakan Altman Z-Score berpengaruh positif dan signifikan terhadap nilai perusahaan. Secara simultan, profitabilitas, likuiditas, dan financial distress berpengaruh signifikan terhadap nilai perusahaan. Nilai Adjusted R-Square sebesar 0,398177 menunjukkan bahwa ketiga variabel independen mampu menjelaskan variasi nilai perusahaan sebesar 39,81%, sedangkan sisanya sebesar 60,19% dipengaruhi oleh faktor lain di luar model penelitian. Hasil penelitian ini diharapkan dapat menjadi referensi bagi manajemen Bank Umum Syariah, investor, serta peneliti selanjutnya dalam memahami faktor- faktor yang memengaruhi nilai perusahaan pada sektor perbankan syariah.

ENGLISH:

This study aims to analyze the influence of profitability, liquidity, and financial distress on the value of companies in Sharia Commercial Banks in Indonesia for the 2018–2024 period. This study uses a quantitative approach with secondary data obtained from the annual financial statements of Sharia Commercial Banks. The research sample was determined using purposive sampling techniques so that 10 Sharia Commercial Banks were obtained with an observation period during 2018–2024. Data analysis was carried out using panel data regression with the help of the EViews 13 application, where based on the results of model testing, the Common Effect Model (CEM) is the most suitable model.
The results of the study show that partially profitability proxied with Return on Assets (ROA) does not have a significant effect on the company's value, liquidity proxied with Financing to Deposit Ratio (FDR) has a negative and significant effect on the company's value, while financial distress proxies using the Altman Z-Score have a positive and significant effect on the company's value. Simultaneously, profitability, liquidity, and financial distress have a significant effect on the company's value. The Adjusted R-Square value of 0.398177 shows that the three independent variables are able to explain the variation in the company's value of 39.81%, while the remaining 60.19% is influenced by other factors outside the research model. The results of this study are expected to be a reference for Sharia Commercial Bank management, investors, and researchers in understanding the factors that affect the company's value in the Islamic banking sector.