Hubungan Karakteristik Bank dengan Harga Saham
Keywords:
non-performing loans, capital adequacy ratio, efficiency, profitability, non-interest income
Abstract
This study discusses the influence of variable bank characteristics on bank stock prices included on the Indonesia Stock Exchange (2009-2013). Regarding what is used is a data collection that is a merger between cross section data and time series from 25 banks.
The results showed that bad credit as a proxy for credit risk increased significantly to stock prices. Credit risk increases. It is proven that efficiency shows a negative and significant relationship to stock prices.
Limitations / Implications in this study are the adequacy of bank capital, profitability and income diversification ratio non-interest income (NIIR) does not affect the bank's stock price.
References
Athanasoglou, P., Brismiss, S., Delis,M., 2008. Bank-Spesifik, Industri-Spesifik and Macroeonomic Dterminants of Bank Profitability, Journal of International Fiancial Market, Institutions and Money, 18 (2), 121-136
Awojobi, Omotola and Amel, Roya. 2011. Analysing Risk Management in Banks : Evidence of Bank Efficiency and Macroeconomic Impact, Journal of Money, Invesment and Banking- Issue 22 (2011), p 147-162.
Brigham, Eugene F.,Houston, Joel F. 2004. Fundamentals of Financial Management, 10th Edition, Singapore, Cengage Learning Asia Pte Ltd.
Brigham, Eugene F. and Daves, Phillip R. 2010. Intermediate Financial Management, Tenth Edition, South-Western, Cengage Laerning.
Brissimis, S.N., Delis, MD., Papanikolaou,N.I., 2008. Exploring the Nexus Between Banking Sector Reform and Performance : Evidence from Newly Acceded EU Country, Journal of Banking and Finace, 32 (12), 2674-2683.
Bush, Ramona and Kick, Thomas. 2009. Income Diversification in the Germany Banking Industry, Discussion Paper Series 2 : Banking and Financial Studies.http//ideas.repec.org/p/zbw/bupdp2/2009, diakses tanggal 14 April 2011.
Cooper, Michael J., Jackson, William E., and Patterson, Gary A. 2003. Evidence of Predictabiliti in the Ceoss-Section of bank Stock Returns, Juornal of Banking and Finance vo. 27,p :817-850.
Cooper, M., Gulen, H. and Schill, M. 2009. The Asset Growth Effect in Stock Returns. Darden Business School Working Paper No. 1335524.
David, Fred R. 2009. Strategic Management, Pearson Education, Inc.
Demsetz, Rebecca S., and Philip E. Strahan. 1997. Diversification, Size, and Risk at Bank Holding Companies, Journal of Money, Credit, and Banking 28, 300-13.
Dietriech, Andreas and Wanzenried, Gabrielle. 2010. Determinants of Bank Profitability Before and During the Crisis : Evidence from Zwitzerlands, Journal of International Financial Markets, Institutions & Money, 21 (2011), p : 307-327
Earle, D.M., and M. Mendelson. 1991. The Critical Mesh in Strategic Planning, Bankers Magazine, pp. 48-53.
Fiordelisi, Franco and Molyneux, Phil. 2010. The Determinant of Shareholder Value in European Banking, Journal of Banking & Finance 34 (2010), p. 1189-1200.
Ghozali, Imam. 2008. Model Persamaan Struktural : Konsep dan Aplikasi dengan Program Amos 16.0, Badan Penerbit Universitas Diponegoro, Semarang
Goddard, John, McKillop, Donald and Wison, John OS. 2008. The Diversification and Financial Performance of US Credit Union, Journal of Bank and Finance,Vol 32,p.1836-1849.
Gujarati, Damador. 2003. Basic Econometric, FourthEdition.New York : McGrwa-Hill Book Co.
Gumanti, Tatang A. 2011. Manajemen Investasi : Konsep, Teori dan Aplikasi, Mitra Wacana Media, jakarta.
Hays, Fred H., De Lurgio, Stephen A., and Gilbert Jr., Arthur H. 2009. Efficiency Ratios and Community Bank Performance, Journal of Finance and Accountancy,p : 1-11
Kosmidou, Kyriaki, Fotios Pasiuras, and Angelos, Tsaklanganos. 2007. Domestic and Multinational Determinants of Foreign Bank Profits: The Case of Greek Banks Operating Abroad. Journal of Multinational Financial Management, volume 17: 1-15
Kosmiduo, Kyriaki. 2008. The Determinants of Banks Profits in Greece During the Period of EU Financial Integration, Managerial Finance, Vol. 34 No. 3, p. 145-159.
Kuncoro, Mudrajad. 2009. Metode Riset untuk Bisnis dan Ekonomi Edisi Ketiga, Penerbit Erlangga, Jakarta.
Kunt, Demirguc A.,and Huizinga, Harry. 1998. Determinants of Commercial Bank Interest Margin and Profitability : Some International Evidence, Development Research Group, The World Bank , http://www.google.com, diakses tanggal 12 Maret 2011.
Mbarek, Lassaad dan Hmaied. 2011. Stock Market of Bank Risk : Evidence from the Maghreb Region. Economic Research Forum, p : 1-22
Mas’ud, Muchlis, H. 2013. Pengaruh Risiko, Strategi Korporat dan Struktur Modal terhadap Kinerja Keuangan Bank Go Public di Indonesia, Disertasi, Program Pascasarjana Fakultas Ekonomi Universitas dan Bisnis, Malang.
Naimy, Viviane Y, and Dame, Notre. 2008. Financial Ratios And Stock Prices: Consistency or Discrepancy? Longitudinal Comparison Between UAE and USA
Lebanon (2008)
Natalia, M., Kurniawan, Rudi and Firsty, Rievinska R. 2016. Bank Income Diversification from Stock Market Perspective: Evidence from ASEAN, Indonesian Capital Market Review, (2016) 32-45
Mc Eachern, William A. 2000. Economics : A Contemporery Inroduction, Sigit Trihandaru (Penerjemah), Thomson Learning Asia.
Ojo, A., (2008) Efficiency Capital Regulation for Nigerian Bank, Nigerian Journal of Economics and Social Science, Vol. 51 (2), p. 667-679.
Placido M. Menaje, Jr. 2012. Impact of Selected Financial Variables on Share Price of Publicly Listed Firms in the Philippines. American International Journal of Contemporary Research Vol. 2 No. 9; September 2012
Rawlin, Rajveer and Shanmugam, Ramaswamy. 2013 Impact of Key Internal Determinants of Profitability and Share Price Performance of Large Public Bank India, Interntional Journal of Business and Economic Recearch, Vol 1, Issue 1 (Januari, 2013)
Riyadi, Slamet. 2006. Banking Assets and Liability Management, Lembaga Penerbit FE-UI, Jakarta.
Rose, Peter S., and Hudgins, Silvia C. 2005. Bank Management and Financial Services, McGraw-Hill.
Sawada, M. (2013). How does the stock market value bank diversification? Empirical evidence from Japanese banks. Pacific-Basin Finance Journal, 25, 40-61.
Sekaran, Uma. 2006. Research Methods for Business, Kwan Men Yon (Penerjemah), Salemba Empat, Jakarta.
Shajari, Parastoo and Shajari, Housang. 2010. Non Performing Loans and Financial Soundness Indicators : In Iran’s Banking Syatem, Journal Banking Finance, p : 1-18, http://www.pdfseeker.net, diakses tanggal 23 Oktober 2011.
Shu, L.L., Penm, Jack H.W., Gong, S., and Chang, C. 2005. Risk Based Capital Adequacy in Assessing on Insolvency Risk and Financial Performance in Taiwan Banking Industry, Research Income International Business and Finance, Vol. 19: 111-153.
Valverde, Santiago Carbo and Fernandez. Francisco Rodriques 2006. The Determinant of Bank Margins in European Banking. Journal of Banking and Finance volume 31, p. 2043-2063
Bank Indonesia. 2014. Kajian Stabilitas Keuangan, No. 22 Maret 2014
Indonesia Stock Exchange Statistic 2014.
Indonesian Capital Market Directory 2010-2013
Otoritas Jasa Keuangan. 2013. Statistik Perbankan Indonesia, Vol. 12, No 1. Desember 2013.
Awojobi, Omotola and Amel, Roya. 2011. Analysing Risk Management in Banks : Evidence of Bank Efficiency and Macroeconomic Impact, Journal of Money, Invesment and Banking- Issue 22 (2011), p 147-162.
Brigham, Eugene F.,Houston, Joel F. 2004. Fundamentals of Financial Management, 10th Edition, Singapore, Cengage Learning Asia Pte Ltd.
Brigham, Eugene F. and Daves, Phillip R. 2010. Intermediate Financial Management, Tenth Edition, South-Western, Cengage Laerning.
Brissimis, S.N., Delis, MD., Papanikolaou,N.I., 2008. Exploring the Nexus Between Banking Sector Reform and Performance : Evidence from Newly Acceded EU Country, Journal of Banking and Finace, 32 (12), 2674-2683.
Bush, Ramona and Kick, Thomas. 2009. Income Diversification in the Germany Banking Industry, Discussion Paper Series 2 : Banking and Financial Studies.http//ideas.repec.org/p/zbw/bupdp2/2009, diakses tanggal 14 April 2011.
Cooper, Michael J., Jackson, William E., and Patterson, Gary A. 2003. Evidence of Predictabiliti in the Ceoss-Section of bank Stock Returns, Juornal of Banking and Finance vo. 27,p :817-850.
Cooper, M., Gulen, H. and Schill, M. 2009. The Asset Growth Effect in Stock Returns. Darden Business School Working Paper No. 1335524.
David, Fred R. 2009. Strategic Management, Pearson Education, Inc.
Demsetz, Rebecca S., and Philip E. Strahan. 1997. Diversification, Size, and Risk at Bank Holding Companies, Journal of Money, Credit, and Banking 28, 300-13.
Dietriech, Andreas and Wanzenried, Gabrielle. 2010. Determinants of Bank Profitability Before and During the Crisis : Evidence from Zwitzerlands, Journal of International Financial Markets, Institutions & Money, 21 (2011), p : 307-327
Earle, D.M., and M. Mendelson. 1991. The Critical Mesh in Strategic Planning, Bankers Magazine, pp. 48-53.
Fiordelisi, Franco and Molyneux, Phil. 2010. The Determinant of Shareholder Value in European Banking, Journal of Banking & Finance 34 (2010), p. 1189-1200.
Ghozali, Imam. 2008. Model Persamaan Struktural : Konsep dan Aplikasi dengan Program Amos 16.0, Badan Penerbit Universitas Diponegoro, Semarang
Goddard, John, McKillop, Donald and Wison, John OS. 2008. The Diversification and Financial Performance of US Credit Union, Journal of Bank and Finance,Vol 32,p.1836-1849.
Gujarati, Damador. 2003. Basic Econometric, FourthEdition.New York : McGrwa-Hill Book Co.
Gumanti, Tatang A. 2011. Manajemen Investasi : Konsep, Teori dan Aplikasi, Mitra Wacana Media, jakarta.
Hays, Fred H., De Lurgio, Stephen A., and Gilbert Jr., Arthur H. 2009. Efficiency Ratios and Community Bank Performance, Journal of Finance and Accountancy,p : 1-11
Kosmidou, Kyriaki, Fotios Pasiuras, and Angelos, Tsaklanganos. 2007. Domestic and Multinational Determinants of Foreign Bank Profits: The Case of Greek Banks Operating Abroad. Journal of Multinational Financial Management, volume 17: 1-15
Kosmiduo, Kyriaki. 2008. The Determinants of Banks Profits in Greece During the Period of EU Financial Integration, Managerial Finance, Vol. 34 No. 3, p. 145-159.
Kuncoro, Mudrajad. 2009. Metode Riset untuk Bisnis dan Ekonomi Edisi Ketiga, Penerbit Erlangga, Jakarta.
Kunt, Demirguc A.,and Huizinga, Harry. 1998. Determinants of Commercial Bank Interest Margin and Profitability : Some International Evidence, Development Research Group, The World Bank , http://www.google.com, diakses tanggal 12 Maret 2011.
Mbarek, Lassaad dan Hmaied. 2011. Stock Market of Bank Risk : Evidence from the Maghreb Region. Economic Research Forum, p : 1-22
Mas’ud, Muchlis, H. 2013. Pengaruh Risiko, Strategi Korporat dan Struktur Modal terhadap Kinerja Keuangan Bank Go Public di Indonesia, Disertasi, Program Pascasarjana Fakultas Ekonomi Universitas dan Bisnis, Malang.
Naimy, Viviane Y, and Dame, Notre. 2008. Financial Ratios And Stock Prices: Consistency or Discrepancy? Longitudinal Comparison Between UAE and USA
Lebanon (2008)
Natalia, M., Kurniawan, Rudi and Firsty, Rievinska R. 2016. Bank Income Diversification from Stock Market Perspective: Evidence from ASEAN, Indonesian Capital Market Review, (2016) 32-45
Mc Eachern, William A. 2000. Economics : A Contemporery Inroduction, Sigit Trihandaru (Penerjemah), Thomson Learning Asia.
Ojo, A., (2008) Efficiency Capital Regulation for Nigerian Bank, Nigerian Journal of Economics and Social Science, Vol. 51 (2), p. 667-679.
Placido M. Menaje, Jr. 2012. Impact of Selected Financial Variables on Share Price of Publicly Listed Firms in the Philippines. American International Journal of Contemporary Research Vol. 2 No. 9; September 2012
Rawlin, Rajveer and Shanmugam, Ramaswamy. 2013 Impact of Key Internal Determinants of Profitability and Share Price Performance of Large Public Bank India, Interntional Journal of Business and Economic Recearch, Vol 1, Issue 1 (Januari, 2013)
Riyadi, Slamet. 2006. Banking Assets and Liability Management, Lembaga Penerbit FE-UI, Jakarta.
Rose, Peter S., and Hudgins, Silvia C. 2005. Bank Management and Financial Services, McGraw-Hill.
Sawada, M. (2013). How does the stock market value bank diversification? Empirical evidence from Japanese banks. Pacific-Basin Finance Journal, 25, 40-61.
Sekaran, Uma. 2006. Research Methods for Business, Kwan Men Yon (Penerjemah), Salemba Empat, Jakarta.
Shajari, Parastoo and Shajari, Housang. 2010. Non Performing Loans and Financial Soundness Indicators : In Iran’s Banking Syatem, Journal Banking Finance, p : 1-18, http://www.pdfseeker.net, diakses tanggal 23 Oktober 2011.
Shu, L.L., Penm, Jack H.W., Gong, S., and Chang, C. 2005. Risk Based Capital Adequacy in Assessing on Insolvency Risk and Financial Performance in Taiwan Banking Industry, Research Income International Business and Finance, Vol. 19: 111-153.
Valverde, Santiago Carbo and Fernandez. Francisco Rodriques 2006. The Determinant of Bank Margins in European Banking. Journal of Banking and Finance volume 31, p. 2043-2063
Bank Indonesia. 2014. Kajian Stabilitas Keuangan, No. 22 Maret 2014
Indonesia Stock Exchange Statistic 2014.
Indonesian Capital Market Directory 2010-2013
Otoritas Jasa Keuangan. 2013. Statistik Perbankan Indonesia, Vol. 12, No 1. Desember 2013.
Published
2020-03-02
How to Cite
H. Mas’ud, M., Anggarani, D., & Zulkifli. (2020). Hubungan Karakteristik Bank dengan Harga Saham. Bulletin of Management and Business, 1(1), 10-22. Retrieved from https://v3.publishing-widyagama.ac.id/index.php/bmb/article/view/29
Issue
Section
Article Text
