Kinerja Keuangan Yang Dideterminasi Manajemen Risiko : Studi Kasus Perusahaan Asuransi Di Bursa Efek Indonesia (BEI) 2019-2023

Abstract

 

This study analyzes the effect of credit risk, liquidity risk, market risk, and operational risk on the financial performance of insurance companies listed on the Indonesia Stock Exchange (IDX) for the period 2019–2023. The data used are secondary data in the form of company financial reports accessed from the official website of the IDX and related companies. The analysis method used is panel data regression with the Fixed Effect model. The dependent variable in this study is financial performance measured using Return on Equity (ROE), while the independent variables include credit risk, liquidity risk, market risk, and operational risk. The results of the study show that partially, only liquidity risk has a significant effect on financial performance, while credit risk, market risk, and operational risk do not show a significant effect. However, simultaneously, all independent variables have a significant effect on financial performance. This study provides important implications for insurance companies to prioritize liquidity risk management in an effort to improve financial performance.