1. Home
  2. Vol 7, No 3 (2023)
  3. Murti

The Effect Of Capital Structure, Institutional Ownership, And Company Size On Financial Performance

Galuh Tresna Murti, Zahra Nelfa Faradisyi

Abstract


The aim of this study was to determine the effect of capital structure, institutional ownership, and company size on the financial performance of insurance sub-sector companies listed on the Indonesia Stock Exchange in the 2017–2021 period. This data was tested using the panel data regression method. The population used is the insurance companies listed on the IDX in 2017–2021. Based on the sample selection, 15 insurance sub-sector companies were selected for five years period of study. So the total number of observational data in this study was 75. However, only 70 data can be used because there are 5 outliers. The results of this study show that capital structure, institutional ownership, and company size simultaneously influence the company's financial performance. Partially, institutional ownership and company size influence the company's financial performance. While the capital structure does not have any effect on financial performance.

Keywords


capital structure; institutional ownership; company size; company's financial performance

References


Hapsari et al ( 2021). Intellectual Capital and Environmental Uncertainty on Firm Performance: The mediating role of the value chain. Jurnal Quality Access to Success Vol. 22 No. 185

Hanisah, Titisari, & Nurlaela. (2019). Kinerja Keuangan dan Pertumbuhan Laba. Edunomika, 3(1), 52–59.

Hery. (2021a). Analisis Detail dan Mendalam Atas Data Kuantitatif Laporan Keuangan

Yuliandhari, W. S., Murti, G. T., & Pramesthi, P. T. (2022). The Effect Of Gender Diversity, Profitability, And Company Age On Disclosure Of Sustainability Report. Jurnal Mirai Management, 7(3), 112-117

Ramadita, E. S., & Suzan, L. (2019). Pengaruh biaya produksi, debt to equity ratio, dan perputaran persediaan terhadap profitabilitas. Jurnal aset (akuntansi riset), 11(1), 159-168

CRMS Indonesia. (2020). Studi Kasus GRC – Kasus Gagal Bayar Klaim Nasabah Asuransi Jiwasraya.

Bisnis.com. (2021, December 28). Asuransi Bintang Ungkap Penyebab Kinerja Kuartal III/2021 Masih Tertekan . Bisnis.Com.

Ritongga, Effendi, & Prayudi. (2021). Pengaruh Struktur Modal Terhadap Kinerja Keuangan Perusahaan Consumer Goods Di BEI. Jurnal Ilmiah Manajemen Dan Bisnis(JIMBI), 2(2).

Ningsih, & Utami. (2020). Pengaruh Operating Leverage dan Struktur Modal terhadap Kinerja Keuangan pada Perusahaan Go Publik Sektor Property Dan Real Estate. Jurnal Akuntansi Dan Pajak, 20(2), 154–160

Fauzi, Achsani, Andati, & Anggareni. (2022). Pengaruh Struktur Modal Terhadap Kinerja Keuangan Perusahaan Telekomunika Dunia. Jurnal Aplikasi Manajemen Dan Bisnis, 8(2).

Rahmatin, & Kristanti. (2020). Pengaruh Good Corporate Governance, Leverage, Struktur Modal Dan Ukuran Perusahaan Terhadap Kinerja Keuangan Pada Perusahaan Sektor Aneka Industri Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Ilmiah Mahasiswa Manajemen, 2(4).

Luthfiana, & Dewi. (2023). Pengaruh Good Corporate Governance, Struktur Modal, dan Ukuran Perusahaan Terhadap Kinerja Keuangan. Jurnal Bina Akuntansi, 10(1), 364–377.

Farahdiba, & Hendrawaty. (2022). Pengaruh Kepemilikan Institusional Terhadap Kinerja Perusahaan Non Keuangan Yang Terdaftar Di BEI Periode 2017-2020. Jurnal Ekonomi Bisnis, 10(1).

Rahardjo, & Wuryani. (2021). Pengaruh Good Corporate Governance, Kepemilikan Institusional,dan Ukuran Perusahaan Terhadap Kinerja Keuangan Perusahaan (Studi Pada Perusahaan Perbankan Yang Terdaftar Di Bursa Efek Indonesia(BEI) Tahun2016-2018). KUNESA: Jurnal Akuntansi Unesa, 10(1).

Fitriyani. (2021). Pengaruh good corporate governance dan ukuran perusahaan terhadap kinerja keuangan perusahaan subsektor perbankan yang terdaftar di BE. Akuntabel, 18(4), 702–712.

Septiono, & Mulyadi. (2023). Pengaruh Likuiditas dan Ukuran Perusahaan Terhadap Kinerja Keuangan Pada Perusahaan Otomotif Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Revenue : Jurnal Ilmiah Akuntansi, 3(2).

Ivan, & Raharja. (2021). Pengaruh Kepemilikan Keluarga, Kepemilikan Institusi, Kepemilikan Asing TerhadapKinerja Keuangan Perusahaan . Diponegoro Journal Of Accounting, 10(2).

Kurniawati, Wahyuni, Fitriani, & Inayati. (2022). The Effect of Capital Structure, Institutional Ownership, Liquidity, and Diversification Strategy on Financial Performance. Indonesian Journal of Business Analytics (IJBA), 2(2), 111–128. https://doi.org/10.55927/ijba.v2i2.1602

Adnanti, & Triani. (2023). Determinan Kinerja Keuangan (ROA) Perusahaan Manufaktur Sektor Industri Barang Konsumsi . SOLUSI: Jurnal Ilmiah Bidang Ilmu Ekonomi, 21(1), 497–505.

Nusah, & Pondang. (2022). Pengaruh Struktur Modal, Good Corporate Governance dan Ukuran Perusahaan Terhadap Kinerja Keuangan Pada Perusahaan Yang Terdaftar di Indeks Sri-Kehati. Jurnal Emba, 10(4).

Hermawan. (2020). Monograf; Pengukuran Kinerja Keuangan dan Peran Intellectual Capital (1st ed., Vol. 1). Indomedika Pustaka.

Daud Fahkruddin Sedovandara, & Dewa Putra Krishna Mahardika. (2023). Financial Performance Determinant: Evidence On Energy And Mineral Sector. Jurnal Akuntansi, 27(2), 299–317. https://doi.org/10.24912/ja.v27i2.1392

Martiana, Wagini, & Hidayah. (2021). Analisis Rasio Profitabilitas Untuk Menilai Kinerja Keuangan Pada PT. Kimia Farma(PERSERO)Tbk. Jurnal Ilmiah Ekonomi Dan Bisnis , 10(1), 67–75.

Olamide, & Paul. (2021). The Effect Of Capital Structure On Financial Performance Of Quoted Manufacturing Companies In Nigeria . European Journal of Accounting, Auditing and Finance Research, 9(5).

Pahlevi, & Anwar. (2021). Kinerja Keuangan Dalam Pendekatan Modal Intelektual dan Struktur Modal (1st ed., Vol. 1). Pascal Books.

Andini, Andika, & Pranaditya. (2021). Pengaruh GCG dan Profotabilitas Terhadap Penghindaran Pajak Dengan Ukuran Perusahaan Sebagai Variabel Intervening (Syairozi Muhammad, Ed.; 1st ed., Vol. 1). Media Sains Indonesia.

Hasti, Maryani, & Makshun. (2022).Pengaruh Leverage, Struktur Modal, dan Ukuran Perusahaan terhadap Kinerja Keuangan pada Perusahaan Sektor Pertambangan. Reviu Akuntansi, Manajemen Dan Bisnis (RAMBIS), 2(2), 139–150.

Ramadhan. (2021). Metode Penelitian (Effendy, Ed.; Vol. 1).

S. Setyaningsih and Y. Suchyadi, “Implementation of Principal Academic Supervision To Improve Teacher Performance in North Bogor,” Jhss (Journal Humanit. Soc. Stud., vol. 5, no. 2, pp. 179–183, 2021, doi: 10.33751/jhss.v5i2.3909.

Y. Suchyadi and Nurjanah, “Relationship between Principal Supervision in Increasing the Job Satisfaction of Private Junior High School Teachers in East Bogor District,” JHSS (Journal Humanit. Soc. Stud., vol. 02, no. 01, pp. 26–29, 2018, doi: https://doi.org/10.33751/jhss.v2i1.818.

Y. Suchyadi, “Relationship between Work Motivation and Organizational Culture in Enhancing Professional Attitudes of Pakuan University Lecturers,” JHSS (JOURNAL Humanit. Soc. Stud., vol. 01, no. 01, pp. 41–45, 2017, doi: https://doi.org/10.33751/jhss.v1i1.372.

Y. Suchyadi, N. Karmila, and N. Safitri, “Kepuasan Kerja Guru Ditinjau Dari Peran Supervisi Kepala Sekolah Dasar Negeri Di Kecamatan Bogor Utara,” JPPGuseda | J. Pendidik. Pengajaran Guru Sekol. Dasar, vol. 2, no. 2, pp. 91–94, Nov. 2019, doi: 10.33751/jppguseda.v2i2.1453.

R. Purnamasari et al., “Student Center Based Class Management Assistance Through The Implementation Of Digital Learning Models,” J. Community Engagem., vol. 02, no. 02, pp. 41–44, 2020, doi: https://doi.org/10.33751/jce.v2i2.2801.

Y. Suchyadi and H. Suharyati, “The Use Of Multimedia As An Effort To Improve The Understanding Ability Of Basic School Teachers ‘Creative Thinking In The Era ‘Freedom Of Learning,’” in Merdeka Belajar, A. Rahmat, Ed. Yogyakarta: Zahir Publishing, 2021, pp. 42–53.

Y. Suchyadi et al., “Increasing Personality Competence Of Primary School Teachers, Through Education Supervision Activities In Bogor City,” J. COMMUNITY Engagem., vol. 01, no. 01, 2019, [Online]. Available: https://journal.unpak.ac.id/index.php/jce

Y. Suchyadi et al., “Improving The Ability Of Elementary School Teachers Through The Development Of Competency Based Assessment Instruments In Teacher Working Group , North Bogor City,” J. COMMUNITY Engagem., vol. 02, no. 01, pp. 1–5, 2020, doi: https://doi.org/10.33751/jce.v2i01.2742.

S. Hardinata, Y. Suchyadi, and D. Wulandari, “Strengthening Technological Literacy In Junior High School Teachers In The Industrial Revolution Era 4.0,” J. Humanit. Soc. Stud., vol. 05, no. 03, pp. 330–335, 2021.

H. Suharyati, H. Laihad, and Y. Suchyadi, “Development of Teacher Creativity Models to Improve Teacher’s Pedagogic Competency in the Educational Era 4.0,” Int. J. Innov. Creat. Chang. www.ijicc.net, vol. 5, no. 6, pp. 919–929, 2019, [Online]. Available: www.ijicc.net

Y. Suchyadi, Nurjanah, and N. Karmila, Supervisi Pendidikan: Strategi Meningkatkan Profesionalisme Guru. Bogor: PGSD Universitas Pakuan, 2020.

Suchyadi, Y., & Suryani, A. "Educational Environment In The Implementation Of Character Education". JHSS (Journal Of Humanities And Social Studies), 5(2), 208-212. 2021.

Marwah, H. S., Suchyadi, Y., & Mahajani, T. "Pengaruh Model Problem Based Learning Terhadap Hasil Belajar Subtema Manusia Dan Benda Di Lingkungannya". Journal of Social Studies Arts and Humanities (JSSAH), 1(1), 42-45. 2021.

Suchyadi, Y., Sunardi, O., Suhardi, E., & Sundari, F. S. "Using a Multimedia for Natural Science Learning in Improving Concept Skills of Elementary School Teachers".

Hardinata, S., Suchyadi, Y., & Wulandari, D. "Model of Strengthening Technology Literacy for Junior High School Teachers in the Era of the Industrial Revolution 4.0."

Suchyadi, Y., Mirawati, M., Anjaswuri, F., & Destiana, D. "Supervisi Akademik Dalam Meningkatkan Kompetensi Guru Sekolah Dasar". Jurnal Manajemen Pendidikan, 10(1), 067-074. 2022.

Suchyadi, Y., Nurlela, N., & Indriani, R. S. "Analysis of Student Self-Regulated Learning in an Effort To Increase the Effectiveness of Online Lectures in the Pandemic Period". Jhss (Journal of Humanities and Social Studies), 6(1), 120-125. 2022.

Nurohmah, N., Suchyadi, Y., & Mulyawati, Y. "Pengaruh Gaya Belajar Terhadap Hasil Belajar Matematika Di Sd Negeri Sukaharja 01 Kabupaten Bogor". Journal of Social Studies Arts and Humanities (JSSAH), 2(1), 067-070. 2022.

Suchyadi, Y., & Nurjanah, N. "The Influence Of The Implementation Of Educational Supervision By The Principal On Teacher Performance In Schools". Jurnal Manajemen Pendidikan, 10(2), 125-129. 2022.

Suchyadi, Y., Muhajang, T., Indriani, R. S., & Mirawati, M. "Implementation Of Supervision In Improving The Learning Process And Character Education In Elementary Schools". Journal of Social Studies Arts and Humanities (JSSAH), 2(2), 143-146. 2022.

Gunawan, N. D., Suchyadi, Y., & Sumardi, S. "The Effect Of Online Learning On Interest In Learning Mathematics In Elementary Schools". Journal of Social Studies Arts and Humanities (JSSAH), 2(2), 110-113. 2022.

Bagus, S. N., Anwar, W. S., & Suchyadi, Y. "Analisis Bimbingan Belajar Siswa Berkesulitan Membaca". Journal of Social Studies Arts and Humanities (JSSAH), 2(2), 137-142. 2022.

Hikmah, N., Indriani, R. S., Karmila, N., Suchyadi, Y., Harahap, L. P. A., Ainurrahmah, A., & Fardila, I. "Elementary School Students Learning Assistance in The Covid-19 Pandemic Through The Introduction Of The Kipin School 4.0 Application". Journal of Community Engagement (JCE), 5(1), 31-35. 2023.

Suchyadi, Y., Indriani, R. S., & Budiana, S. "The Influence of the Implementation of Principal Supervision on Teacher Work Discipline in the Learning Process". JHSS (Journal Of Humanities And Social Studies), 7(1), 238-242. 2023.


Full Text: PDF

DOI: 10.33751/jhss.v7i3.8200

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.