Vol. 9 No. 2 (2019), Articles
Vol. 9 No. 2 (2019)

Analysis of determinants of financial and non-financial aspects for the fund adequacy ratio (FAR) at pension fund institutions

Articles
DOI: 10.14414/tiar.v9i2.1839
Published 2019-10-29
Dwi Asih Surjandari
Universitas Mercubuana Jakarta
Dewi Anggraeni
Universitas Mercubuana Jakarta
Yulianto Yulianto
Maria Wrightia Religiosa


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Keywords

Fund adequacy ratio
financial aspect
non-financial aspect

How to Cite

Surjandari, Dwi Asih, et al. “Analysis of Determinants of Financial and Non-Financial Aspects for the Fund Adequacy Ratio (FAR) at Pension Fund Institutions”. The Indonesian Accounting Review, vol. 9, no. 2, Oct. 2019, pp. 181-93, https://doi.org/10.14414/tiar.v9i2.1839.
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Abstract

The aim of this study is to analyze the determinants of Fund Adequacy Ratio (FAR) at Pension Fund Institutions listed in Indonesia Financial Services Authority (OJK) period 2013 - 2016. The determinants of financial aspect are proxied by financial ratio and the determinants of non-financial aspect are proxied by firm size. Sampling is done using purposive sampling method and the analysis used is SPSS version 2.0. The results of this study show that in financial aspect there are only 2 variables (the ratio of working capital / total asset and the ratio of retained earnings / total assets) that have a significant effect on FAR, while the other 4 variables consisting of the ratio of cash / total asset, the ratio of total debt / total revenue, the ratio of short-term debt / equity, and the ratio of current asset / short-term debt have no effect on FAR. In non-financial aspect, firm size also has no effect on FAR. However, all variables simultaneously have a significant effect on FAR.

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