The The effect of bank health level on stock prices with company size as a variabel control on banking companies listed on Indonesia stock exchange (2013 -2019 period)
Keywords:
Stock price, Credit risk, Liquidity risk, Market risk, Earnings and Capital
Abstract
This study aims to analyze the soundness of banks as represented by credit risk, liquidity risk, market risk, good corporate governance, earnings and capital on stock prices in banking companies listed on the Indonesia stock exchange in 2013-2019. This study uses firm size as a control variable. The population in this study are banking companies listed on the Indonesia stock exchange. While the sample in this study was determined by purposive sampling method, in order to obtain 231 samples of banks. However, the final sample of this study was 213 because there were data outliers. The type of data used in this study is secondary data obtained from the Indonesia stock exchange website and the official website of each bank. The analytical method used is multiple linear regression analysis.
The results of this study indicate that credit risk (NPL) and Capital (CAR) have no effect on stock prices, liquidity risk (LDR), market risk (NIM) and earnings (ROA) have a positive and significant effect on stock prices, while corporate governance has a negative and significant effect to stock prices.
Keywords: Stock price, Credit risk, Liquidity risk, Market risk, Earnings and Capital
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References
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Sharif, T., Puhorit, H.,& Pillail, R. (2015). Analysis of factors affecting share price : The case of Bahrain stock exchange. International Journal of economics and Finance, 7(3), 207-215.
Takarini, Nurjanti, & Hamidah, H. 2011. Rasio Keuangan dan Pengaruhnya terhadap Harga Saham Perusahaan yang Terdaftar di Jakarta Islamic Index. Journal of Business and Banking, Vol.1 No. 2.
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www.idx.co.id
Alrgaibat, Ghazi .A. 2016. Financial and Economical Analsisys of Banking Activities: Case Study of Jordan. International Journal of Academic Research in Accounting, Finance and Management Sciences, Vol.6 No.4.
Angeline, S., & Jessy, S.S. 2020. Pengaruh Likuiditas , Leverage, Profitabilitas dan Ukuran Perusahaan Terhadap Harga Saham Pada Perusahaan Pertambangan yang Terdaftar di Bursa Eek Indonesia Periode 2013-2017. Jurnal Akuntansi dan Sistem Informasi.
Bank Indonesia. 2004. Peraturan Bank Indonesia No. 6/10/PBI/ 2004 Tentang Penilaian Tingkat Kesehatan Bnak Umum.
Bank Indonesia. 2011. Peraturan Bank Indonesia No. 13/1/PBI/2011 Tentang Penilaian Tingkat Kesehatan Bank Umum.
Bank Indonesia. 2011. Surat Edaran Bank Indonesia Nomor 13/24/DPNP/2011 Perihal Tingkat Kesehatan Bank Umum.
Bank Indonesia. 2013. Surat Edaran Bank Indonesia Nomor 15/15/DPNP Tanggal 29 April 2013 Tentang Pelaksanaan Good Corporate Governance Bagi Bank Umum.
Brogi, Mariana & Valentina, L. 2021. Better Save than Sorry. Bank Corporate Governance, Risk -Taking and Peformance. Finance Research Letter. https://doi.org/10.1016/j.frl.2021.102039
Catriwati. 2017. Pengaruh Capital Adequancy Ratio (CAR), Return On Asset (ROA), Loan To Deposit Ratio (LDR), Net Interest Margin (NIM), Non Performing Loan (NPL), dan Asset Growth terhadap Harga Saham Perbankan yang Tedaftar di Bursa Efek Indonesia. Jurnal Intra-Tech Vol.1 No 2.
Fadly, M,. Moch, Dzulkirom & Zahroh. 2015. Analisis Tingkat Kesehatan Bank dengan Menggunakan Pendekatan RGEC. Jurnal Administrasi Bisnis, Vol.28 No. 2.
Gopalan, Yadaf. 2018. The Effects of Ratings Disclosure by Bank Regulators. Journal of Accounting and Economics (JAE). http://dx.doi.org/10.2139/ssrn.364528
Hendrayana, P.W., & Gerianta, W.Y. 2015. Pengaruh Komponen RGEC pada Perubahan Harga Saham Perusahaan Perbankan di Bursa Efek Indonesia. E-Jurnal Akuntansi Universitas Udayana 10.2.
Indiani, N.P.L., & Sayu, K.S.D. 2016. Pengaruh Variabel Tingkat Kesehatan Bank Terhadap Harga Saham Perbankan di Bursa Efek Indonesia. E- Jurnal Manajemen Unud, Vol.5 No. 5.
Inoguchi, Masahiro. 2013. Interbank Market, Stock Market, and Bank Performance in East Asia. Pasific-Basin Finance Journal. http://dx.doi.org/10.1016/j.pacfin.2013.08.006
Jamaludin. 2020. Penggunaan Metode Risk Based Bank Ratio (RBBR) untuk Menilai Tingkat Kesehatan Bank pada PT. Bank Rakyat Indonesia Tbk. Jurnal Ilmiah Manajemen Forkamma, Vol.3 No.2.
Kadim, A., Nardi, S., Hendro, W., Dessy, A., & Endang, K. 2018. The Effects of Bank Soundness with the RGEC Approach (Risk Profile, Good Corporate Governance,Earnings, Capital) of Leverage and its Implications on Companys Value of State Bank in Indonesia for the Period of 2012-2016. International Journal of Economic research, Vol. 15, No.1.
Keffala, Mohamed, R. 2017. Analyzing the Effect of Derivatives on the Financial Soundness of Commercial Banks in Italy : An Aproach Based on the Camels Framework. Review of Financial Economics. DOI:10.1002/rfe.1020
Kumar, M.A., G. Sri, H., Shilvi, A. & Nell, R.D. 2012. Analyzing Soundness in Indian Banking: A CAMEL Aproach. Research Journal of Management Sciences, Vol. 1(3),9-14.
Maknunah, Lukluun. 2016. Pengaruh Risiko Likuiditas, Risiko Kredit, Risiko Pasar dan Risiko Operasional Terhadap ROA Pada Bank Go Public. Skripsi Sekolah Tinggi Ilmu Ekonomi Perbanas, Surabaya.
Medyawicesar, Hana, Edet, T., & Imas, P. 2018. Analisis Komponen Tingkat Kesehatan Bank terhadap Harga Saham Bank Umum Swasta Nasioanl Devisa yang Terdaftar di Bursa Efek Indonesia Periode 2012-2016. Journal of Business Management Education, Vol.3 No. 2.
Otoritas Jasa Keuangan. 2016. Peraturan Otoritas Jasa Keuangan Nomor 4/POJK.3/2016 Tentang Penilaian Tingkat Kesehatan BanK Umum.
Panjaitan, Raya & Andri, S. 2020. Analysis Komponen RBBR terhadap Harga Saham Perusahaan Perbankan yang Terdaftar di BEI Tahun 2013-2017. Jurnal Manajemen dan Bisnis (JMB), Vol. 20 No. 1.
Pramana, K.M., & Luh, G.S.A. 2016. Analisis Tingkat Kesehatan Bank (Pendekatan RGEC) Pada PT. Bank Danamon Indonesia Tbk. E-Journal Manajemen Unud, Vol.5 No 6.
Pratiwi, Niken. 2014. Pengaruh Risiko Usaha terhadap Skor Kesehatan Bank Umum Go Public di Indonesia. Journal of Business and Banking, Vol. 4 No.2 .
Prihatni, Rida. 2019. Effect of Risk Profile, Good Corporate Governance, Earnings and Capital on Growth Income in Banking Services Listed in Indonesia Stock Exchange. Academy of Accounting and Finance Studies Journal, Vol. 23 Issue 5.
Putra, A.H.E.A., Ni, Putu, Y.M., & Putu, W.S. 2021. Analisis Pengaruh CR, ROE, ROA, dan PER terhadap Harga Saham Perbankan di BEI Tahun 2017-2019. Jurnal Kharisma, Vol. 3 No. 1.
Republik Indonesia.1998. Undang-Undang Republik Indonesia Nomor 10 Tahun 1998 Tentang Perbankan.
Suhadak, Sri, M.R, & Siti, R.H. 2017. GCG, Financial Architecture on Stock Return, Financial Performance and Corporate Value. International Journal of Productivity and Performance Management. DOI:10.1108/IJPPM-09-2017-0224.
Setyawan, A.W.P. 2012. Pengaruh Komponen Risk Based Bank Rating terhadap Harga Saham Perusahaan Perbankan yang Go Public di Bursa Efek Indonesia (BEI) Tahun 2008-2011. Sripsi Universitas Diponegoro, Semarang.
Sharif, T., Puhorit, H.,& Pillail, R. (2015). Analysis of factors affecting share price : The case of Bahrain stock exchange. International Journal of economics and Finance, 7(3), 207-215.
Takarini, Nurjanti, & Hamidah, H. 2011. Rasio Keuangan dan Pengaruhnya terhadap Harga Saham Perusahaan yang Terdaftar di Jakarta Islamic Index. Journal of Business and Banking, Vol.1 No. 2.
Takarini, Nurjanti, & Ukki, H.P. 2013. Dampak Tingkat Kesehatan Bank Terhadap Perubahan Harga Saham pada Perusahaan Perbankan yang Go Public di Bursa Efek Indonesia. Jurnal Neo-Bis, Vol.7 No.2.
Zedan, K.A. 2017. Palestinian Banks Analysis Using CAMEL Model. International Journal of Economics and Financial Issue. ISSN:2146-4138.
www.idx.co.id
