Factors Influencing Financial Performance on Banking Companies in Indonesia: Does Financial Technology Matter?

Authors

  • Hakimatuz Zahra Universitas Muhammadiyah Purwokerto, Indonesia
  • Maulida Nurul Innayah Universitas Muhammadiyah Purwokerto, Indonesia
  • Naelati Tubastuvi Universitas Muhammadiyah Purwokerto, Indonesia
  • Yudhistira Pradhipta Aryoko Universitas Muhammadiyah Purwokerto

DOI:

https://doi.org/10.29040/ijebar.v8i3.14475

Abstract

This study aimed to examine the effect of company size, liquidity, and dividend policy on financial performance, using financial technology as a moderating variable and leverage as a control variable. The population of this study is conventional banking sector companies registered with the Indonesian Financial Services Authority (OJK) from 2019 to 2022. The sample collection method uses a purposive sampling technique. The number of samples obtained was 91 companies, with 137 observations. This study utilized the Fixed Effect Regression Model based on the preliminary test result for panel data regression. The results showed that liquidity and financial technology significantly positively affect financial performance. Company size and dividend policy have a negative effect on financial performance. The application of financial technology by conventional Indonesian banks can strengthen the influence of the positive relationship between firm size, liquidity, and dividend policy on financial performance. Based on this research, it is necessary to maintain an optimal level of liquidity and adopt financial technology to improve the company's financial performance. The easier and safer the financial technology the company uses will further affect the level of company performance.

References

Addina, C., Harmain, H., & Syahriza, R. (2023). Pengaruh Proporsi Komisaris Independen dan Komite Audit terhadap Kinerja Keuangan pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2016-2020. Jurnal Ilmiah Akuntansi Kesatuan, 11(1), 135–146. https://doi.org/10.37641/jiakes.v11i1.1616

Alfatihah, P., & Sundari, B. (2021). Pengaruh Transaksi Perbankan Elektronik (Electronic Banking) Terhadap Kinerja Keuangan Entitas Publik Perbankan. Jurnal Ilmiah Ekonomi Bisnis, 26(1), 30–40. https://doi.org/10.35760/eb.2021.v26i1.3383

Amaliyah, F., & Herwiyanti, E. (2020). Pengaruh Keputusan Investasi, Ukuran Perusahaan, Keputusan Pendanaan dan Kebijakan Deviden Terhadap Nilai Perusahaan Sektor Pertambangan. Jurnal Penelitan Ekonomi Dan Bisnis, 5(1), 39–51. https://doi.org/10.33633/jpeb.v5i1.2783

Aprianingsih, A. (2016). Pengaruh Penerapan Good Corporate Governance , Struktur Kepemilikan , Dan Ukuran Perusahaan Effect Good Corporate Governance Implementation , Ownership. Jurnal Profita, 4(5), 1–16.

Ardestani, H. S., Rasid, S. Z. A., Basiruddin, R., & Mehri, M. (2013). Dividend Payout Policy, Investment Opportunity Set and Corporate Financing in the Industrial Products Sector of Malasya. Journal of Applied Finance & Banking, 3(1), 123–136. http://www.scienpress.com/Upload/JAFB/Vol 3_1_8.pdf

Ardiles, D. E. (2024). Pengaruh Leverage, Debt Maturity, Kebijakan Dividen Dan Cash Holdings Terhadap Kinerja Keuangan Perusahaan. Jurnal Akuntansi, Keuangan, Perpajakan Dan Tata Kelola Perusahaan, 1(3), 194–212. https://doi.org/10.59407/jakpt.v1i3.552

Bilal, Z., AlGhazali, A., & Samour, A. (2024). GCC banks liquidity and financial performance: does the type of financial system matter? Future Business Journal, 10(1). https://doi.org/10.1186/s43093-024-00348-y

BPS Indonesia. (2024). Pertumbuhan Ekonomi Indonesia Triwulan III-2024. Www.Bps.Go.Id, 13, 12.

Brigham, E. F., & Houston, J. F. (2021). Fundamentals Of Financial Management. In Fundamentals Of Financial Management. https://doi.org/10.59646/ffm/152

Crisnadani, N., Rahmawati, I. Y., Tubastuvi, N., & Haryanto, T. (2021). The Effect of Intellectual Capital and Good Corporate Governance on Financial Performance in Banking Sector Registered in Indonesia Stock Exchange with Competitive Advantage as Intervening Variables for 2016 - 2019. International Journal of Economics, Business and Accounting Research, 5(2), 412–424.

Dahlia, C. (2019). Pengaruh Struktur Modal, Ukuran Perusahaan, Likuiditas Terhadap Kinerja Keuangan Yang Dimoderasi Inflasi. Jurnal Muara Ilmu Ekonomi Dan Bisnis, 2(2), 483. https://doi.org/10.24912/jmieb.v2i2.1757

Davis, F. D., Bagozzi, R. P., & Warshaw, P. R. (1989). Technology acceptance model. J Manag Sci, 35(8), 982-1003.

Desiko, N. (2020). Pengaruh Risiko Kredit, Risiko Pasar dan Risiko Likuiditas Terhadap KInerja Keuangan Perbankan. Journal Competency of Business, 4(1), 1–9. https://doi.org/10.47200/jcob.v4i1.676

Deska, E. P. (2022). Pengaruh Keputusan Investasi, Keputusan Pendanaan dan Kebijakan Dividen terhadap Nilai Perusahaan dengan Kinerja Keuangan sebagai Pemediasi. Journal of Business and Economics (JBE) UPI YPTK, 7(3), 240–250. https://doi.org/10.35134/jbeupiyptk.v7i3.171

Diana, L., & Osesoga, M. S. (2020). Pengaruh likuiditas, solvabilitas, manajemen aset, dan ukuran perusahaan terhadap kinerja keuangan. Jurnal Akuntansi Kontemporer, 12(1), 20–34. https://doi.org/10.33508/jako.v12i1.2282

Erawati, T., Ayem, S., & Tokan, M. M. (2022). Pengaruh Ukuran Perusahaan, Likuiditas dan Kebijakan Dividen Terhadap Kinerja Keuangan Perusahaan. Jurnal Ilmiah Akuntansi, 13(1), 85.

Ernawati, E., & Santoso, S. B. (2022). Pengaruh Ukuran Perusahaan, Kepemilikan Institusional, Komisaris Independen Dan Leverage Terhadap Kinerja Keuangan (Studi Empiris Pada Bank Umum Syariah Yang Terdaftar Di Ojk Indonesia Tahun 2015-2019). Kompartemen : Jurnal Ilmiah Akuntansi, 19(2), 111. https://doi.org/10.30595/kompartemen.v19i2.13246

Fajaryani, N. L. G. S., & Suryani, E. (2018). Struktur Modal, Likuiditas, Dan Ukuran Perusahaan Terhadap Kinerja Keuangan Perusahaan. Jurnal Riset Akuntansi Kontemporer, 10(2), 74–79. https://doi.org/10.23969/jrak.v10i2.1370

Farom, S. Al, Hermuningsih, S., & Kusumawardhani, R. (2024). Pengaruh Ukuran, Likuiditas, dan Kinera Keuangan Bank Dengan Financial Technology Sebagai Variabel Moderasi Pada Bank Umum Konvensional di Indonesia. J-MAS (Jurnal Manajemen Dan Sains), 9(1), 51. https://doi.org/10.33087/jmas.v9i1.1233

Fathihani, F., Wicaksono, D., Listyawati, I., Elfina, R., & Tanjung, R. (2022). Analysis of Liquidity, Solvency and Activities on Financial Performance in Cigarette Companies Listed on the Indonesia Stock Exchange. Measurement Jurnal Akuntansi, 16(2), 201–206. https://doi.org/10.33373/mja.v16i2.4743

Haryani, N. I., & Susilawati, C. (2023). The effect of board of commissioners size, board of directors size, company size, institutional ownership, and independent commissioners on financial performance. Journal of Economic, Business and Accounting, 6, 2425–2435.

Hasnati. (2022). Pengaruh Kepemilikaan Saham Mayoritas, Kepemilikan Manajerial, Komite Audit, Komisaris Independen, Environmental Performances, dan Modal Intelektual Terhadap Kinerja Keuangan. Www.Google.Co.Id, 3(2), 1–338. https://www.google.co.id/books/edition/Komisaris_Independen_Komite_Audit/Esn0DwAAQBAJ?hl=en&gbpv=1

Hendrani, W., & Rasyid, R. (2020). faktor-faktor Yang Mempengaruhi Kinerja Keuangan Pada Perusahaan Manufaktur. Jurnal Bisnis Dan Akuntansi, 15(2), 133–141.

Hermuningsih, S., & Rahmawati, A. D. (2022). Integrating Bank Size, Liquidity, and Financial Performance Into Moderating Financial Technology: a Case Study of Sharia Commercial Banks in Indonesia. Jurnal Aplikasi Manajemen, 20(4). https://doi.org/10.21776/ub.jam.2022.020.04.15

Hery, S. E. (2015). Analisis laporan keuangan. Media Pressindo.

Hilmi, H., & Aini, N. (2023). Pengaruh Debt Maturity, Leverage, Kebijakan Dividen dan Cash Holding Terhadap Kinerja Keuangan Pada Perusahaan Sektor Aneka Industri yang Terdaftar di Bursa Efek Indonesia Tahun 2018-2021. Jurnal Akuntansi Malikussaleh (JAM), 1(2), 292. https://doi.org/10.29103/jam.v1i2.8820

Innayah, M. N., Fuad, M., & Pratama, B. C. (2021). Intellectual Capital And Firm Performance: The Role Of Women directors. Block Caving – A Viable Alternative?, 21(1), 1–9. https://doi.org/10.1016/j.solener.2019.02.027%0Ahttps://www.golder.com/insights/block-caving-a-viable-alternative/%0A???

Innayah, M. N., Pratama, B. C., & Hanafi, M. M. (2020). The Effect of Intellectual Capital towards Firm Performance and Risk with Board Diversity as a Moderating Variable: Study in ASEAN Banking Firms. Jurnal Dinamika Manajemen, 11(1), 27–38. https://doi.org/10.15294/jdm.v11i1.21487

Innayah, M. N., Pratama, B. C., & Tubastuvi, N. (2021). Board Diversity and Its Effects on Firm Performance and Risk: A Study in Banking Firms. Journal of Accounting and Investment, 22(1), proofreading. https://doi.org/10.18196/jai.v22i1.10005

Innayah, M. nurul, Arofah, R. U., & Cinintya Pratama, B. (2023). Does Social Responsibility Affect Performance of Islamic Bank in Indonesia? the Role of Board Diversity. Management Analysis Journal, 12(2), 232–241. http://maj.unnes.ac.id

Ivonilenia, D. V., Innayah, M. N., Tubastuvi, N., & Widhiandono, H. (2023). The Effect of Political Connection and Women Directors on Company Value with Financial Performance as a Mediating Variable. Indonesian Journal of Business Analytics, 3(5), 1887–1906. https://doi.org/10.55927/ijba.v3i5.5630

Jekwam, J. J., & Hermuningsih, S. (2018). Peran Ukuran Perusahaan (Size) Dalam Memoderasi Corporate Social Responsibility Dan Likuiditas Terhadap Kinerja Keuangan Pada Perusahaan Pertambangan Yang Terdaftar Di Bei. Upajiwa Dewantara, 2(1), 76–85. https://doi.org/10.26460/mmud.v2i1.3071

Kristianti, I., & Tulenan, M. V. (2021). Dampak financial technology terhadap kinerja keuangan perbankan. Kinerja, 18(1), 57–65. http://journal.feb.unmul.ac.id/index.php/KINERJA/article/view/8254

Kurniawati, H., Rasyid, R., & Setiawan, F. A. (2020). Pengaruh Intellectual Capital Dan Ukuran Perusahaan Terhadap Kinerja Keuangan Perusahaan. Jurnal Muara Ilmu Ekonomi Dan Bisnis, 4(1), 64. https://doi.org/10.24912/jmieb.v4i1.7497

Lee, C. C., Li, X., Yu, C. H., & Zhao, J. (2021). Does fintech innovation improve bank efficiency? Evidence from China’s banking industry. International Review of Economics and Finance, 74(June 2020), 468–483. https://doi.org/10.1016/j.iref.2021.03.009

Lestari, P. (2020). Pengaruh Likuiditas, Der, Firm Size, Dan Asset Turnover Terhadap Kinerja Keuangan. Jurnal Neraca: Jurnal Pendidikan Dan Ilmu Ekonomi Akuntansi, 4(1), 1. https://doi.org/10.31851/neraca.v4i1.3843

Lin, W. L., Cheah, J. H., Azali, M., Ho, J. A., & Yip, N. (2019). Does firm size matter? Evidence on the impact of the green innovation strategy on corporate financial performance in the automotive sector. Journal of Cleaner Production, 229, 974–988. https://doi.org/10.1016/j.jclepro.2019.04.214

Ma’ruf, M. (2021). Pengaruh Fintech Terhadap Kinerja Keuangan Perbankan Syariah. Yudishtira Journal : Indonesian Journal of Finance and Strategy Inside, 1(1), 42–61. https://doi.org/10.53363/yud.v1i1.53

Mabruroh, M., & Anwar, S. (2022). Pengaruh Green Accounting, Ukuran Perusahaan, Dan Leverage Terhadap Financial Performance Dengan Nilai Perusahaan Sebagai Variabel Moderasi. Journal of Economic, Bussines and Accounting (COSTING), 5(2), 1776–1778. https://doi.org/10.31539/costing.v6i1.3659

Madubuko Cyril, U., Callistus Emeka, E., & Callistus Emeka, E. (2020). Effect of Dividend Policy on Financial Performance of Consumer Goods Manufacturing Firms in Nigeria. Science Journal of Business and Management, 8(1), 7. https://doi.org/10.11648/j.sjbm.20200801.12

Mardaningsih, D., Nurlaela, S., & Wijayanti, A. (2021). Pengaruh leverage , likuiditas , firm size dan sales growth terhadap kinerja keuangan pada perusahaan lq45 Leverage , liquidity , firm size and sales growth influence financial performance in the company lq45. Jurnal FEB UNMUL, 17(1), 46–53.

Maryunita, L., & Nugroho, I. T. (2022). Fintech Innovation and Bank Efficiency in Indonesia. Khazanah Sosial, 4(4), 626–635. https://doi.org/10.15575/ks.v4i4.20239

Matei, F. B., Boboc, C., & Ghiță, S. (2021). The relationship between corporate social responsibility and financial performance in romanian companies. Economic Computation and Economic Cybernetics Studies and Research, 55(3), 297–314. https://doi.org/10.24818/18423264/55.3.21.19

Meiyana, A., & Aisyah, M. N. (2019). Pengaruh Kinerja Lingkungan, Biaya Lingkungan, Dan Ukuran Perusahaan Terhadap Kinerja Keuangan Dengan Corporate Social Responsibility Sebagai Variabel Intervening. Nominal: Barometer Riset Akuntansi Dan Manajemen, 8(1), 1–18. https://doi.org/10.21831/nominal.v8i1.24495

Muharromi, G., Santoso, S. E. B., Santoso, S. B., & Pratama, B. C. (2021). Pengaruh Kebijakan Hutang, Arus Kas Bebas, Likuiditas Dan Pertumbuhan Penjualan Terhadap Kinerja Keuangan ( Studi Empiris Pada Perusahaan Pertambangan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2016-2019). Ratio : Reviu Akuntansi Kontemporer Indonesia, 2(1), 36–50. https://doi.org/10.30595/ratio.v2i1.10371

Mustapha, S. A. (2018). E-Payment technology effect on bank performance in emerging economies-evidence from Nigeria. Journal of Open Innovation: Technology, Market, and Complexity, 4(4), 43. https://doi.org/10.3390/joitmc4040043

Ningsih, D. A., & Wuryani, E. (2021). Kepemilikan Institusional, Leverage Dan Ukuran Perusahaan Terhadap Kinerja Keuangan. AKUNESA: Jurnal Akuntansi Unesa, 9(2), 18–23.

Nurzaeni, Z. A., Wiyono, G., & Kusumawardhani, R. (2022). Pengaruh Likuiditas, Aktivitas dan Kebijakan Dividen terhadap Kinerja Keuangan pada Industri Sub Sektor Telekomunikasi di Bursa Efek Indonesia. Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah, 5(2), 575–591. https://doi.org/10.47467/alkharaj.v5i2.1221

Ogutu, M. 2018. (2018). Effect Of E-Banking On Financial Performance Of Listed Commercial Banks In Kenya. August.

Ovami, D. C., & Nasution, A. A. (2020). Pengaruh Kebijakan Dividen Terhadap Nilai Perusahaan yang Terdaftar dalam Indeks LQ 45. Owner (Riset Dan Jurnal Akuntansi), 4(2), 331. https://doi.org/10.33395/owner.v4i2.247

Partiwi, R., & Herawati, H. (2022). Pengaruh Kepemilikan Institusional, Leverage Dan Ukuran Perusahaan Terhadap Kinerja Perusahaan. Jurnal Kajian Akuntansi Dan Auditing, 17(1), 29–38. https://doi.org/10.37301/jkaa.v17i1.76

Prabowo, D., & Suzan, L. (2021). Pengaruh Intellectual Capital dan Kebijakan Dividen Terhadap Kinerja Keuangan Perusahaan. E-Proceeding of Management, 8(5), 5048–5054.

Pratama, B. C., Makhrus, A., & Innayah, M. N. (2022). Intellectual Capital and Social Performance of Indonesian Islamic Banks: The Role of Sharia Supervisory Boards Monitoring Activities. International Journal of Academic Research in Business and Social Sciences, 12(5). https://doi.org/10.6007/ijarbss/v12-i5/13127

Purbawangsa, I. B. A., & Rahyuda, H. (2022). The effect of ownership structure, dividend policy, composition of the board of directors on financial performance and share return. Accounting, 8(1), 1–8. https://doi.org/10.5267/j.ac.2021.6.012

Purwanto, H., Yandri, D., & Yoga, M. P. (2022). Perkembangan Dan Dampak Financial Technology (Fintech) Terhadap Perilaku Manajemen Keuangan Di Masyarakat. Kompleksitas: Jurnal Ilmiah Manajemen, Organisasi Dan Bisnis, 11(1), 80–91. https://doi.org/10.56486/kompleksitas.vol11no1.220

Putri, R. E., Goso, Hamid, R. S., & Ukkas, I. (2021). Pengaruh Literasi Keuangan, Financial Technology dan Inklusi Keuangan Terhadap Kinerja Keuangan Pengusaha Muda. Keuangan, 6(April), 1–15.

Raed, K. (2020). Dividend Policy and Companies†Financial Performance. Journal of Asian Finance, Economics and Business, 7(10), 531–542. https://doi.org/10.13106/jafeb.2020.vol7.no10.531

Reysa, R., Fitroh, U., Rizqi Wibowo, C., & Rustanti, D. (2022). Determinasi Kebijakan Dividen Dan Kinerja Perusahaan: Kepemilikan Manajerial Dan Kinerja Keuangan (Literature Review Manajemen Keuangan). Jurnal Manajemen Pendidikan Dan Ilmu Sosial, 3(1), 364–374. https://doi.org/10.38035/jmpis.v3i1.881

Samrotun, Y. C. (2015). Yuli Chomsatu Samrotun Dosen FE Universitas Islam Batik (UNIBA) Surakarta Size terhadap Kebijakan Dividen pada Perusahaan Industri Barang …. Jurnal Paradigma, 13(01), 92–103.

Santosa, P. W., Setianingrum, A., & Yusuf, C. (2022). Corporate governance and leverage on firm value: Evidence of Indonesian large firms. Jurnal Keuangan Dan Perbankan, 26(4), 862–873. https://doi.org/10.26905/jkdp.v26i4.7664

Septiano, R., & Mulyadi, R. (2023). Pengaruh Likuiditas dan Ukuran Perusahaan Terhadap Kinerja Keuangan Pada Perusahaan Otomotif yang Terdaftar di Bursa Efek Indonesia. Jurnal Akuntasi, 3(2), 525–535. http://repository.itbwigalumajang.ac.id/id/eprint/1100%0Ahttp://repository.itbwigalumajang.ac.id/1100/4/Bab 2_watermark.pdf

Siska, E. (2022). Financial Technology (FinTech) and Its Impact on Financial Performance of Islamic Banking. ARBITRASE: Journal of Economics and Accounting, 2(3), 102–108. https://doi.org/10.47065/arbitrase.v2i3.338

Spence, M. (1978). *Job market signaling*The essay is based on the author’s doctoral dissertation (“Market Signalling: The Informational Structure of Job Markets and Related Phenomena,†Ph.D. thesis, Harvard University, 1972), forthcoming as a book entitled Market Signali. In Uncertainty in Economics (Vol. 87). ACADEMIC PRESS, INC. https://doi.org/10.1016/b978-0-12-214850-7.50025-5

Spence, M. (2021). Government and economics in the digital economy. Journal of Government and Economics, 3(November). https://doi.org/10.1016/j.jge.2021.100020

Utami, H. I., & Tubastuvi, N. (2019). Struktur Modal Sebagai Variabel Intervening. Jurnal Manajemen Dan Bisnis MEDIA EKONOMI, XIX(1), 168–181.

Waswa, C. W., Mukras, M. S., & Oima, D. (2018). Effect of Liquidity on Financial Performance of the Sugar Industry in Kenya. International Journal of Education and Research, 6(6), 29–44. www.ijern.com

Wau, M., & Waruwu, Y. (2021). Pengaruh Kebijakan Deviden Terhadap Kinerja Perusahaan Pertambangan Studi Empiris Pada Perusahan Manufaktur Di Bursa Efek Indonesia Tahun 2016-2018. Jurnal Mutiara Akuntansi, 6(2), 103–117. https://doi.org/10.51544/jma.v6i2.2157

Widyari, K. P., Luh ni gde, N., & Luh Putu Ni, W. (2022). Pengaruh Good Corporate Governence , Ukuran Perusahaan , Leverage , Kualitas Audit Terhadap Kinerja Perusahaan. Jurnal Kumpulan Hasil Riset Mahasiswa Akuntansi (KHARISMA), 4(2), 202–213.

Wijaya, I. U. (2022). The Effect of Fintech on the Financial Performance of Sharia Banking. Journal Of Accounting Vol.2 Number 2 | July , 2022, 2(2), 56–64. https://pusdig.web.id/index.php/ekonomi/

Yuliana, L. A., & Sulistyowati, E. (2023). Pengaruh Kebijakan Dividen, Kebijakan Hutang, Dan Ukuran Perusahaan Terhadap Kinerja Keuangan. Jurnal Ilmiah Akuntansi Dan Keuangan (JIAKu), 2(2), 110–125. https://doi.org/10.24034/jiaku.v2i2.5756

Yuliani, E. (2021). Pengaruh Struktur Modal, Likuiditas dan Pertumbuhan Penjualan Terhadap Kinerja Keuangan. Jurnal Ilmu Manajemen, 10(2), 111. https://doi.org/10.32502/jimn.v10i2.3108

Yuniwiansyah, M., & Rahayu, Y. (2020). Pengaruh Good Corporate Governance Dan Firm Size Terhadap Kinerja Keuangan Perusahaan. Jurnal Ilmu Dan Riset Akuntansi, 11(2460–0585), 1–17.

Zega, F., Dahlena Nasution, M., & Chyntia Ovami, D. (2023). Sustainability Report, Good Corporate Governance Dan Kinerja Keuangan: Studi Kasus Perusahaan Pertambangan Di Indonesia. Jurnal Riset Akuntansi Dan Bisnis, 23(2), 138–152. https://jurnal.umsu.ac.id/index.php/akuntan/article/view/16611

Downloads

Published

2024-12-24

How to Cite

Zahra, H., Innayah, M. N., Tubastuvi, N., & Aryoko, Y. P. (2024). Factors Influencing Financial Performance on Banking Companies in Indonesia: Does Financial Technology Matter?. International Journal of Economics, Business and Accounting Research (IJEBAR), 8(3). https://doi.org/10.29040/ijebar.v8i3.14475

Citation Check

Most read articles by the same author(s)