Aug 2026· Almana : Jurnal Manajemen dan Bisnis· 0 citations· 15 references
Abstract
Firm value is an important indicator of investor confidence, yet accounting performance and market valuation do not always move together in Indonesian state-owned banks. This study examines the associations of the Debt-to-Equity Ratio (DER) and Return on Assets (ROA) with Price-to-Book Value (PBV) in four state-owned banks listed on the Indonesia Stock Exchange during 2021–2025. A balanced panel of 40 bank-semester observations was estimated using a bank fixed-effects model. The reported conventional estimates indicate positive associations of DER and ROA with PBV. The adjusted R² is 0.8468, but it includes the bank fixed effects and should not be attributed to the two financial ratios alone. Because the panel contains only four banks and the available output does not provide panel-robust standard errors, the inferential results are interpreted cautiously as associational evidence. The findings underline the need to interpret bank liabilities as part of the intermediation model and to assess profitability together with bank-specific risk and capitalization indicators.
This paper re-examines the determinants of profitability in Bangladeshi private commercial banks, using a panel-corrected standard errors (PCSE) analysis of ten listed banks over 2014–2023 (n = 100 bank-year observations), together with a post-sample assessment of the sector's extraordinary deterioration through 2024–2...
Md. Jahidul Islam, M. Moniruzzaman, A. H. M. Ziaul Haq et al.· Global Disclosure of Economi...· 0 citations
This paper examines how capital structure and bank size impact the profitability of commercial banks in Bangladesh. A balanced panel of 12 commercial banks was studied, covering 2013 to 2022; there were a total of 120 bank-year observations. Return on Equity (ROE) and Net Interest Margin (NIM) were utilized as metrics...
N. Jahan, Sumaiya Islam, K. Arif et al.· Asian Economic and Financial...· 0 citations
Bank-specific attributes may enhance profitability while conveying risks that reduce market valuation. Prior studies offer inconclusive findings and rarely examine net interest margin (NIM) as the mechanism linking intellectual capital (IC), good corporate governance (GCG), the loan-to-deposit ratio (LDR), and the capi...
Hammad Hammad, Hari Gursida, Yohanes Indrayono· Greenation International Jou...· 0 citations
Kenya’s banking sector has become increasingly concentrated through mergers, acquisitions, restructuring and technology-led scale expansion, with a small group of listed institutions controlling more than three-quarters of sector assets. Whether the resulting market power protects franchise value and promotes prudent b...
Godfrey Omondi Odundo, P. Ndichu, S. Ondiwa· American Journal of Economic...· 0 citations
This study aims to determine the impact of the Debt-to-Equity Ratio (DER) and Price-to-Book Value (PBV) on financial distress among transportation sub-sector companies listed on the Indonesia Stock Exchange during the 2019–2024 period. This research employs a quantitative approach with an associative method. Secondary...
Ita Darsita, Ratna Dumilah, Siti Nurcahayati· International Journal of Man...· 0 citations
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