The Effect of VAIC, NPL, BOPO, and CAR on Financial Performance: The Moderating Role of Funding Structure (A Study of Conventional Commercial Banks Listed on the IDX for the 2021–2025 Period)
DOI:
https://doi.org/10.24905/icobis.v2i1.85Keywords:
Intellectual Capital, Credit Risk, Operational Efficiency, Capital Adequacy, Debt to Equity Ratio, Financial PerformanceAbstract
This research is motivated by the phenomenon of profit stagnation in the conventional banking industry, which is partly triggered by the high interest rate trend and operational inefficiency pressures. Based on these problems, this study aims to examine the effect of Intellectual Capital (VAIC), Credit Risk (NPL), Operational Efficiency (BOPO), and Capital Adequacy Ratio (CAR) on Financial Performance (ROA), as well as to examine the moderating role of Funding Structure (DER) on these relationships. The object of this study is conventional banking companies listed on the Indonesia Stock Exchange (IDX) during the observation period of 2021–2025. The sampling technique used was the purposive sampling method based on predetermined criteria. This research approach utilizes quantitative methods, while the data analysis technique applied is Moderated Regression Analysis (MRA) processed using SPSS software. Partial test results show that Operational Efficiency (BOPO) and Capital Adequacy Ratio (CAR) are proven to have a negative and significant effect on Financial Performance (ROA). Conversely, Intellectual Capital (VAIC) and Credit Risk (NPL) are proven to have no significant effect on profit generation. In the moderation effect test, the Funding Structure (DER) is proven capable of moderating by strengthening the effect of credit risk (NPL) on financial performance. However, the Funding Structure (DER) is proven unable to moderate the impact of Intellectual Capital (VAIC), Operational Efficiency (BOPO), and Capital Adequacy Ratio (CAR) on the Financial Performance of conventional commercial banks. In conclusion, banking profitability pressures are dominated by operational inefficiencies and the accumulation of idle funds. Intellectual capital investment, which is still in the transition phase (lag effect), has not had a significant impact on instant profits. Meanwhile, the debt structure merely functions as financial leverage to maximize risky credit margins. Management is advised to prioritize operational efficiency and be more progressive in converting reserve capital into productive assets.
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