Pengaruh Struktur Modal dan Ukuran Bank terhadap Kinerja Keuangan dengan Risiko Likuiditas sebagai Variabel Mediasi

Abstract

This research investigates how capital structure and bank size are associated with financial performance by positioning liquidity risk as an intervening mechanism in Indonesian listed banks. Secondary information was collected from annual reports of banking firms on the Indonesia Stock Exchange for 2021-2025. Purposive sampling selected 28 banks, yielding 140 observations at the initial stage; 15 extreme observations were subsequently removed, leaving 125 observations for inferential testing. The empirical analysis employed panel-data multiple regression in EViews 14, and mediation was evaluated with the Sobel test. The findings indicate that capital structure does not exert a statistically significant direct influence on financial performance, although it has a significant negative association with liquidity risk. Bank size positively and significantly affects both financial performance and liquidity risk, while liquidity risk itself has a positive and significant relationship with financial performance. The Sobel results further demonstrate significant indirect paths from capital structure and bank size to financial performance through liquidity risk. Accordingly, bank performance depends not merely on funding volume or asset scale, but also on the productive deployment of funds, efficient asset administration, and prudent liquidity management.