The Role of Firm Size in Moderating Credit Risk, Operational Efficiency, and Profitability on The Firm Value of Banking Companies
DOI:
10.47353/ecbis.v4i6.599Published:
2026-09-15Downloads
Abstract
Firm value is one of the indicators reflecting market assessment of the performance and prospects of banking companies. Firm value may be influenced by credit risk, operational efficiency, and profitability, while firm characteristics may determine the strength of the relationships between these factors and firm value. This study aims to analyze the effects of credit risk, operational efficiency, and profitability on firm value and to examine the role of firm size in moderating these relationships. This study employs a quantitative approach using secondary data obtained from annual reports of banking companies listed on the Indonesia Stock Exchange for the 2021–2024 period. The sample was selected using purposive sampling, resulting in 172 observations. Credit risk is measured using Non-Performing Loan (NPL), operational efficiency using Operating Expenses to Operating Income (BOPO), profitability using Return on Assets (ROA), firm value using Price to Book Value (PBV), and firm size using SIZE. Data analysis was conducted using multiple linear regression and Moderated Regression Analysis (MRA). The results show that credit risk has a positive effect on firm value, while operational efficiency has a negative effect on firm value. Profitability has a positive effect on firm value. Furthermore, firm size strengthens the effects of credit risk, operational efficiency, and profitability on the firm value of banking companies.Keywords:
Credit Risk operational efficiency profitability firm value firm sizeReferences
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