PENGARUH CAPITAL, RISIKO LIKUIDITAS, RISIKO KREDIT, RISIKO OPERASIONAL, RISIKO UTANG TERHADAP RETURN SAHAM MELALUI EARNING DAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERASI PADA PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

ERNAWATY, LISA (2026) PENGARUH CAPITAL, RISIKO LIKUIDITAS, RISIKO KREDIT, RISIKO OPERASIONAL, RISIKO UTANG TERHADAP RETURN SAHAM MELALUI EARNING DAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERASI PADA PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA. Masters thesis, Universitas 17 Agustus 1945 Surabaya.

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Abstract

This study examines the effects of capital, liquidity risk, credit risk, operational risk, and debt risk on stock returns, with earnings as a mediating variable and Good Corporate Governance (GCG) as a moderating variable in banks listed on the Indonesia Stock Exchange (IDX) during 2019–2024. This study addresses a literature gap by integrating five RGEC-based risk dimensions within a moderated mediation model in the Indonesian banking sector. A quantitative confirmatory design was employed. Eight national private commercial banks with "healthy" and "very healthy" RGEC ratings were selected via purposive sampling. Secondary data from annual reports and financial statements were analyzed using PLS-SEM with 5,000 bootstrapping subsamples through SmartPLS 4.0. The findings indicate that 9 out of 11 direct-effect hypotheses were significant. Debt risk showed the strongest negative effect on stock returns (β = –0.419), while operational risk had no significant direct effect. Three of five indirect effects were significant, with operational risk influencing stock returns through full mediation of earnings. GCG significantly weakened the adverse effects of liquidity risk and debt risk on stock returns. The model explained 86.4% of variance in earnings (R² = 0.864) and 31.3% in stock returns (R² = 0.313), with an SRMR of 0.017, confirming excellent model fit. This study contributes to Indonesian banking literature by proposing a moderated mediation model integrating multidimensional risk, earnings mediation, and GCG moderation, with implications for investors, bank management, and regulators.

Item Type:	Thesis (Masters)
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HC Economic History and Conditions
Divisions:	Fakultas Ekonomi dan Bisnis > Magister Manajemen
Depositing User:	Unnamed user with email zainulfarid@icloud.com
Date Deposited:	21 Aug 2026 06:14
Last Modified:	21 Aug 2026 06:14
URI:	http://repository.untag-sby.ac.id/id/eprint/48807

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