Factors Affecting The Profitability Ratio Of General Insurance Companies On The Indonesia Stock Exchange For The Years 2018 – 2022 Using Panel Regression

Ayu Sofia

doi:10.30598/parameterv3i02pp155-168

Ayu Sofia Institut Teknologi Sumatera

DOI: https://doi.org/10.30598/parameterv3i02pp155-168

Keywords: fixed effect model, panel regression, ROA, ROE.

Abstract

Financial performance analysis can provide insights into a company's business outcomes over a given period. This research aims to identify factors influencing the Return on Assets (ROA) and Return on Equity (ROE) of general insurance companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022 using panel regression. Data were collected from idx.co.id and emiten.kontan.co.id. This research produced two models, which show each with different independent and dependent variables, revealing significant effects of the variables on ROA and ROE. The ROA equation shows only the EPS variable is partially significant. Meanwhile, the ROE equation shows only DAR and NPM variables are partially significant in influencing ROE.

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