ANALISIS PERBANDINGAN LEVERAGE, RISK-BASED CAPITAL (RBC) DAN PENGARUHNYA TERHADAP PROFITABILITAS PERUSAHAAN ASURANSI DI INDONESIA, MALAYSIA, SINGAPURA, DAN FILIPINA (2016-2020)

NUR SAFITRI, . (2022) ANALISIS PERBANDINGAN LEVERAGE, RISK-BASED CAPITAL (RBC) DAN PENGARUHNYA TERHADAP PROFITABILITAS PERUSAHAAN ASURANSI DI INDONESIA, MALAYSIA, SINGAPURA, DAN FILIPINA (2016-2020). Sarjana thesis, UNIVERSITAS NEGERI JAKARTA.

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Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh leverage dan risk-based capital (RBC) dengan ukuran perusahaan dan usia perusahaan sebagai variabel kontrol terhadap profitabilitas perusahaan asuransi di Indonesia, Malaysia, Singapura, dan Filipina periode 2016–2020 serta membandingkan hasilnya antara keempat negara tersebut. Variabel bebas yang digunakan dalam penelitian ini adalah leverage dan risk-based capital (RBC). Variabel terikat yang digunakan pada penelitian ini adalah profitabilitas yang diukur dengan return on assets (ROA). Sedangkan variabel kontrol yang digunakan dalam penelitian ini adalah ukuran perusahaan dan usia perusahaan. Penelitian ini menggunakan pendekatan kuantitatif. Populasi dalam penelitian ini adalah 143 perusahaan asuransi di Indonesia, 37 perusahaan asuransi di Malaysia, 118 perusahaan asuransi di Singapura, dan 79 perusahaan asuransi di Filipina yang terdaftar di Bursa Efek Indonesia, Bank Negara Malaysia, Monetary Authority of Singapore, dan Insurance Commission. Teknik pengambilan sampel menggunakan metode purposive sampling dengan kriteria tertentu sehingga diperoleh sampel sebanyak 38 perusahaan asuransi di Indonesia, 25 perusahaan asuransi di Malaysia, 25 perusahaan asuransi di Singapura, dan 25 perusahaan asuransi di Filipina. Data dalam penelitian ini dianalisis menggunakan Stata versi 16 dengan pengujian analisis regresi data panel. Hasil penelitian menunjukkan bahwa leverage berpengaruh negatif signifikan terhadap profitabilitas pada perusahaan asuransi di Indonesia, Malaysia, Singapura, dan Filipina. Selanjutnya, penelitian ini menunjukkan tidak ada pengaruh antara risk-based capital terhadap profitabilitas perusahaan asuransi di Malaysia dan Singapura. Sedangkan ditemukan pengaruh negatif signifikan antara risk-based capital terhadap profitabilitas perusahaan asuransi di Indonesia serta pengaruh positif signifikan antara risk-based capital terhadap profitabilitas perusahaan asuransi di Filipina. Perusahaan dapat memaksimalkan sumber pendanaan internal guna membiayai kegiatan operasionalnya serta menjaga tingkat RBCnya guna meningkatkan kepercayaan nasabah atau calon nasabah terhadap kondisi kesehatan perusahaan sehingga profitabilitas perusahaan akan meningkat. Hasil ini sesuai dengan teori pecking order dan teori trade-off. Kata kunci: Leverage, risk-based capital, ukuran perusahaan, usia perusahaan, profitabilitas, asuransi. *** This study aims to determine the effect of leverage and risk-based capital (RBC) on the profitability with firm size and firm age as control variables of insurance companies in Indonesia, Malaysia, Singapore, and Philippines for the 2016–2020 period and compare the results with those four countries. The independent variables used in this study are leverage and risk-based capital (RBC). The dependent variable used in this study is profitability as measured by return on assets (ROA). The control variables used in this study are firm size and firm age. This study used a quantitative approach. The population in this study were 143 insurance companies in Indonesia, 37 insurance companies in Malaysia, 118 insurance companies in Singapore, and 79 insurance companies in Philippines listed on the Indonesia Stock Exchange, Central Bank of Malaysia, Monetary Authority of Singapore, and Insurance Commission. The sampling technique used purposive sampling method with certain criteria in order to obtain a sample of 38 insurance companies in Indonesia, 25 insurance companies in Malaysia, 25 insurance companies in Singapore, and 25 insurance companies in Philippines. The data analysis technique applied is a panel data regression test assisted by Stata 16. The results of this study revealed that leverage has significant negative effect on the profitability of insurance companies in Indonesia, Malaysia, Singapore, and Philipphines. Furthermore, this research shows that there is no effect of risk-based capital on the profitability of insurance companies in Malaysia and Singapore. Meanwhile, it was found that there was a significant negative effect between risk-based capital on the profitability of insurance company in Indonesia and positive significant effect between risk-based capital on the profitability of insurance companies in Philippines. Company can maximize internal funding sources to cover its operational activities and maintain its RBC level in order to increase customer trust on the company's health condition so that company profitability will increase. This result is in accordance with pecking order theory and trade-off theory. Keywords: Leverage, risk-based capital, firm size, firm age, profitability, insurance.

Item Type:	Thesis (Sarjana)
Additional Information:	1). Dr. Gatot Nazir Ahmad, M.Si ; 2). Sholatia Dalimunthe, S.E., M.B.A
Subjects:	Manajemen > Manajemen , Business
Divisions:	FE > S1 Manajemen
Depositing User:	Users 14967 not found.
Date Deposited:	01 Sep 2022 06:35
Last Modified:	18 Jan 2024 06:12
URI:	http://repository.unj.ac.id/id/eprint/34216

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