Faktor Penentu Kinerja Investasi Asuransi Jiwa Syariah di Indonesia

Nur Indah Hidayati, Ahmad Baehaqi

Abstract


Abstract

This research aims to find out the influence of company size, liquidity, leverage, volume of capital (VOC), underwriting risk and premium growth towards Investment Yield of sharia life insurance company in Indonesia from 2011 to 2015. Technique of analyzing the data used in this study is panel data regression with level of significance 5%. The result showed that the most appropriate model for this study is Fixed Effect Model (FEM). Simultaneously, all variables have significant influence towards Investment Yield. The result of partial test of Investment Yield showed that company size and liquidity have negative influence, while leverage, VOC, and premium growth have positive influence towards Investment yield. Underwriting risk has no significant influence towards Investment yield. 


Abstrak

Penelitian ini bertujuan untuk mengetahui pengaruh Company Size, likuiditas, leverage, Volume of Capital (VOC), Penelitian ini bertujuan untuk mengetahui pengaruh company size, likuiditas, leverage, volume of capital (VOC), underwriting risk dan premium growth terhadap Investment Yield perusahaan asuransi jiwa syariah di Indonesia periode 2011-2015. Teknik analisis data yang digunakan adalah regresi data panel dengan tingkat signifikansi 5%. Hasil analisis data menunjukkan bahwa model yang tepat digunakan dalam penelitian ini adalah Fixed Effect Model (FEM). Secara simultan keenam variabel tersebut berpengaruh signifikan terhadap Investment Yield. Sedangkan secara parsial menunjukkan bahwa company size dan likuiditas berpengaruh negatif signfikan sedangkan leverage, VOC dan premium growth berpengaruh positif signifikan terhadap investment yield. Underwriting risk tidak memiliki pengaruh signifikan terhadap investment yield.


 


Keywords


life insurance; performance; investment yield; asuransi jiwa syariah; kinerja; hasil investasi

Full Text:

PDF

References


Adams, M. (1996). Investment Earnings and the Characteristics of Life Insurance Firms: New Zealand Evidence. Australian Journal of Management, 21 (1), 41–55. http://doi.org/10.1177/031289629602100106

Almajali, A. Y., Alamro, S. A., & Al-Soub, Y. Z. (2012). Factors Affecting the Financial Performance of Jordanian Insurance Companies Listed at Amman Stock Exchange. Journal of Management Research, 4 (2), 266–289. http://doi.org/10.5296/jmr.v4i2.1482

Bawa, S. K., & Chattha, S. (2013). Financial Performance of Life Insurers in Indian Insurance Industry. Pacific Business Review International, 6 (5), 44–52.

Bayinah, A. N., Mardian, S., Mulyati, S., & Maulidha, E. (2017). Akuntansi Asuransi Syariah. Jakarta: Salemba Empat.

Burgstahler, D. C., & Dichev, I. D. (1997). Earnings, Adaption and Equity Value. The Accounting Review, 72 (2), 187–215. Retrieved from http://80.64.63.173/research/finn-websites-reproduced-permission-copyright-owner-further-reproduction-prohibited-without-permission/

Charumathi, B. (2012). On the Determinants of Profitability of Indian Life Insurers – An Empirical Study. Proceedings of The World Congress on Engineering, I (2012), 4–9. London, UK.

Dhaniati, R. (2011). Analisis pengaruh RBC, Rasio Underwriting, Rasio Hasil Investasi, Rasio Penerimaan Premi dan Rasio Beban Klaim terhadap Laba Perusahaan Asuransi. Jurnal Akuntansi, 1 (2).

Ghazali, I., & Ratmono, D. (2013). Analisis Multivariat dan Ekonometrika Teori, Konsep dan Aplikasi dengan Eviews 8. Semarang: Universitas Diponegoro.

Ghoni, A., & Arianty, E. (2007). Akuntansi Asuransi Syariah: Antara Teori & Praktek. Jakarta: Insco Consulting.

Gujarati, D. N. (2004). Basic Econometrics (fourth). New York: The McGraw-Hill. http://doi.org/10.2307/2344828

Gumanti, T. A. (2011). Manajemen Investasi: Konsep, Teori dan Aplikasi (Edisi 1). Jakarta: Mitra Wacana Media.

Hasbi, H., & Suryawardani, B. (2013). Sistem Peringatan Dini Sebagai Pendukung Kinerja Perusahaan Asuransi Syariah. Jurnal Keuangan dan Perbankan, 17 (2) , 243–252.

Hery. (2015). Analisis Laporan Keuangan. Yogyakarta: PT. Buku Seru.

Htay, S. N. N., Arif, M., Soualhi, Y., Zaharin, H. R., & Shaugee, I. (2013). Accounting, Auditing and Governance for Takaful Operations. Singapore: John Wiley & Sons Singapore Pte.

Hussain, I. (2015). Macro Economy And Profitability Of Insurance Companies : A Post Crisis Scenario In Pakistan. Pakistan Business Review, 243–263.

Karim Consulting Indonesia. (2016). Islamic Insurance Outlook 2017. Jakarta. Retrieved from www.karimcosulting.com

Kaya, E. O. (2015). The Effects of Firm-Specific Factors on the Profitability of Non-Life Insurance Companies in Turkey. International Journal of Financial Studies, 3 (4), 510–529. http://doi.org/10.3390/ijfs3040510

Malik, H. (2011). Determinants of Insurance Companies Profitability : an Analysis of Insurance Sector of Pakistan. Academic Research International, 1(3), 315–321.

Mehari, D., & Aemiro, T. (2013). Firm Specific Factors That Determine Insurance Companies’Performance in Ethiopia. European Scientific Journal, 9 (10), 245–255. Retrieved from http://eujournal.org/index.php/esj/article/view/961

Nurlatifah, A. F., & Mardian, S. (2016). Kinerja Keuangan Perusahaan Asuransi Syariah di Indonesia: Surplus On Contribution. Akuntabilitas: Jurnal Ilmu Akuntansi, 9 (1), 73–96. http://doi.org/10.15408/akt.v9i1.3590

Putrawan, P. W., Sinarwati, N. K., & Purnamawati, I. G. A. (2015). Pengaruh Investasi Aktiva Tetap, Likuiditas, Solvabilitas dan Modal Kerja terhadap Profitabilitas Perusahaan Otomotif dan Komponen yang Terdaftar di Bursa Efek Indonesia Tahun 2010-2013. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi), 3 (1).

Raheman, A., & Nasr, M. (2007). Working Capital Management And Profitability – Case Of Pakistani Firms. International Review of Business Research Papers, 3 (1), 279–300.

Reshid, S. (2015). Determinants of Insurance Companies Profitability in Ethiopia. Thesis: Addis Ababa University. Ethiopia.

Rikalmi, R. T., & Wibowo, S. S. A. (2014). Pengaruh Ukuran Perusahaan dan Modal Kerja Terhadap Profitabilitas Perusahaan. Jurnal Ilmu dan Riset Manajemen, 7 (10), 11-18

Sartika, M., & Adinugraha, H. H. (2013). Konsep dan Implementasi Pengelolaan Dana Premi Unit Link Syariah. Jurnal Asuransi dan Manajemen Resiko, 1 (2), 22–38.

Stiawan, A. (2009). Analisis Pengaruh Faktor Makroekonomi, Pangsa Pasar dan Karakteristik Bank Terhadap Profitabilitas Bank Syariah. Semarang: Tesis S 2 Magister Manajemen, Program Pascasarjana Universitas Diponegoro.

Subramanyam, K. R., & Wild, J. J. (2011). Analisis Laporan Keuangan (10th ed.). Jakarta: Salemba Empat.

Sula, M. S. (2004). Konsep dan Operasional Asuransi Syariah (Life and general). Jakarta: Gema Insani.




DOI: http://dx.doi.org/10.18326/muqtasid.v9i2.93-108

StatisticsArticle Statistic

This article has been read : 363 times | PDF file viewed : 203 times

Refbacks

  • There are currently no refbacks.




                                                                

Creative Commons License

MUQTASID by http://muqtasid.iainsalatiga.ac.id/ is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

MUQTASID Jurnal Ekonomi dan Perbankan Syariah IAIN SALATIGA p-ISSN: 2087-7013, e-ISSN: 2527-8304