DETERMINANT EFFECT OT CASA AND NPM ON MARKET RATIO OF BANKS LISTED IN IDX
DOI:
https://doi.org/10.33086/bfj.v7i2.3490Keywords:
PBV, CASA, NPMAbstract
Banks are intermediary firms that have an important function in society and countries. Banks’ existence drives the banking industry to increase its financial performance through market ratio growth. This research aims to analyze the influence of CASA and NPM on market ratio for banks listed in the IDX during the period of 2010-2020. The originality of this research is that it focuses on the influence of affordable funds and profitability on market ratio PBV in the banking sector. The research type used is quantitative method with multiple linear regression approach. Sampling techniques used is purposive sampling. The population is 43 banking firms listed in the IDX on December 2020. The sample used is 200 sample data from 21 banks in BUKU II until BUKU IV categories in Indonesia during 11 periods, from 2010-2020. Testing techniques used in this research are descriptive statistics, hypothesis test, and classic assumption test with robust standard error. The research variables consist of a dependent variable (PBV), independent variables (CASA, NPM), control variables (PER, DPR, ROE), and a dummy variable (SOE and private owned). The result of this research is that CASA and NPM have a positive and significant effect on PBV. Hopefully, this research can add consideration for banking management, financial supervisory agencies, investors, and the public about investment making decisions.
Downloads
References
Alamsyah, M. F. (2019). Pengaruh Profitabilitas, Ukuran Perusahaan dan Nilai Pasar terhadap Harga Saham pada Sub Sektor Pertambangan Logam dan Mineral di Bursa Efek Indonesia (BEI). Jurnal Manajemen, 11(2), 170-178. http://dx.doi.org/10.29264/jmmn.v11i2.5747
Ambarwati, J., & Vitaningrum, M. R. (2021). Pengaruh Likuiditas dan Profitabilitas terhadap Nilai Perusahaan. Competitive Jurnal Akuntansi dan Keuangan, 5(2), 127-130. http://dx.doi.org/10.31000/competitive.v5i2.4313
Apriliana, & Hendarti, Y. (2021). Analisis Pengaruh Rasio Keuangan terhadap Kinerja Keuangan Perbankan yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2015-2020. Surakarta Accounting Review (SAREV), 3(2), 121-134.
Bustani, Kurniaty, & Widyanti, R. (2021). The Effect of Earning Per Share, Price to Book Value, Dividend Payout Ratio, and Net Profit Margin on the Stock Price in Indonesia Stock Exchange. Jurnal Maksipreneur: Manajemen, Koperasi, dan Entrepreneurship, 11(1), 1-18. http://dx.doi.org/10.30588/jmp.v11i1.810
Cakranegara, P. A. (2020). Konvergensi Bank BUKU 3 dan BUKU 4 Gap Performa pada Bank BUKU 4. Management & Accounting Expose, 3(1), 62-70. https://doi.org/10.36441/mae.v3i1.137
Daryanto, W. M., Akbar, F., & Perdana, F. A. (2020). Financial Performance Analysis in the Banking Sector: Before and After Financial Technology Regulation in Indonesia (Case Study of Buku-IV in Indonesia for Period 2013-2019). International Journal of Business, Economics and Law, 21(2), 1-9.
Deitiana, T., Yap, S., & Ersania. (2020). Dividend Payout Ratio dan Faktor yang Mempengaruhinya pada Perusahaan Makanan dan Minuman di Bursa Efek di Indonesia. Media Bisnis, 12(2), 119-126. https://doi.org/10.34208/mb.v12i2.916
Dewi, M. S., & Rianita, N. (2021). Analisis Pertumbuhan Dana Pihak Ketiga dan Pengaruhnya terhadap Likuiditas. Jurnal Artha Satya Dharma, 14(1), 52-57.
Diana, N., & Huda, S. (2019). Dana Pihak Ketiga dan Pendapatan Pembiayaan Bagi Hasil terhadap Laba pada Bank Umum Syariah Indonesia. Jurnal Akuntansi : Kajian Ilmiah Akuntansi, 6(1), 99-113. http://dx.doi.org/10.30656/jak.v6i1.915
Fathihani. (2020). Effect of NPM, EPS, ROE, and PBV on Stock Prices. Dinasti International Journal of Management Science, 1(6), 893-902. https://doi.org/10.31933/dijms.v1i6.397
Firdaus, I., & Rohdiyarti, M. P. (2021). Pengaruh Harga Saham, Debt to Equity Ratio, Return on Assets, dan Sales Growth terhadap Price to Book Value (Studi pada Sektor Pertanian yang Tercatat di Bursa Efek Indonesia Periode 2013-2018). Dinasti Review: JEMSI, 3(1), 35-51. https://doi.org/10.31933/jemsi.v3i1
Fitriani, S. Z. (2021). Pengaruh Net Profit Margin (NPM) dan Return on Asset (ROA) terhadap Harga Saham di Perusahaan yang Terdaftar di Jakarta Islamic Indeks (JII) (Studi di PT Semen Indonesia Tbk). Jurnal Ekonomi dan Keuangan Islam, 1(1), 51-74. https://doi.org/10.35194/eeki.v1i1.1137
Fitriano, Y., & Herfianti, M. (2021). Analisis Pengaruh Return On Asset(ROA), Return On Equity(ROE) Dan Net Profit Margin(NPM) Terhadap Harga Saham(Studi Pada Perusahaan Perbankan Yang Listed Di Bursa Efek Indonesia Periode 2015-2018). Journal Ekombis Review, 9(2), 193–205. https://doi.org/10.37676/ekombis.v9i2.1330
Hadi, M., Ambarwati, R. D., & Haniyah, R. (2021). Pengaruh Return on Asset, Return on Equity, Net Interest Margin, Net Profit Margin, Earning per Share dan Net Income terhadap Stock Price Sektor Perbankan Tahun 2016 –2020. JMBI UNSRAT: Jurnal Ilmiah Manajemen Bisnis dan Inovasi, 8(3), 770-792. https://doi.org/10.35794/jmbi.v8i3.36743
Handayani, W., & Arif, E. M. (2021). Pengaruh Pengaruh Price Earning Ratio (PER), Debt to Equity Ratio (DER),Net Profit Margin (NPM) dan Total Assets Turnover (TATO) Terhadap Harga Saham Pada PT. Unilever Indonesia Tbk Periode 2011 – 2018. Jurnal Manajemen FE-UB, 9(2), 72-91.
Hasanudin. (2022). The Impact of the Price Earnings Ratio (PER), the Debt to Equity Ratio (DER), and the Dividend Payout Ratio (DPR) on the Price Book Value (PBV) of Trading Companies Listed on the Indonesia Stock Exchange (IDX) from 2015 to 2019. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 5(1), 4395-4404. https://doi.org/10.33258/birci.v5i1.4148
Hisbullah, M. R. (2021). Pengaruh Profitabilitas terhadap Harga Saham Perusahaan Sektor Industri Barang dan Konsumsi di BEI Tahun 2017-2020. Jurnal Ilmu Manajemen, 9(2), 794-803. https://doi.org/10.26740/jim.v9n2.p794-803
Iman, C., Fitri , N. S., & Pujiati, N. (2021). Pengaruh Likuiditas dan Profitabilitas Terhadap Nilai Perusahaan. Perspektif: Jurnal Ekonomi & Manajemen Universitas Bina Sarana Informatika, 19(2), 191-198. https://doi.org/10.31294/jp.v17i2
Indrajaya, D., Astuti, M., Maulidizen, A., & Kurniawan, N. (2021). The Effect of Third-Party Funds, Capital Adequacy Ratio,CASA Ratio, BI Rate, and Inflation Towards The Distribution of Credit Banking in Indonesia. International Journal of Economics Development Research, 2(2), 171-185. https://doi.org/10.37385/ijedr.v2i3.282
Ismayana, P., Astuty, W., & Rambe, M. F. (2021). Pengaruh Current Ratio, Debt to Equity Ratio dan Return on Equity Terhadap Price Earning Ratio Dengan Price to Book Value sebagai Variabel Intervening. Jurnal AKMAMI (Akutansi, Manajemen, Ekonomi), 2(2), 300-313.
Jamhuriah, & Nurhayati. (2021). Pengaruh Dana Pihak Ketiga Terhadap Laba Bersih Pada PT. Bank Negara Indonesia (Persero), Tbk. Jurnal Disrupsi Bisnis, 4(4), 342-353. http://dx.doi.org/10.32493/drb.v4i4.10949
Khairunnisa, J., Marpaung, M., & Nasution, A. W. (2020). Strategi Peningkatan "CASA" dalam Menurunkan Pricing Dana di Bank Syariah. Jurnal Bilal (Bisnis Ekonomi Halal), 1(1), 25-34.
Kharouf, H., Lund, D. J., Krallman, A., & Pullig, C. (2020). A Signaling Theory Approach to Relationship Recovery. European Journal of Marketing, 54(9), 2139-2170. https://doi.org/10.1108/EJM-10-2019-0751
Kohardinata, C., Suhardianto, N., & Tjahjadi, B. (2020). Peer-to-Peer Lending Platform: From Substitution to Complementary for Rural Banks. Business: Theory and Practice, 21(2), 713–722. https://doi.org/10.3846/btp.2020.12606
Kurnia, N. W., & Ariyani, V. (2021). Pengaruh Return on Equity, Dividend Payout Ratio dan Price Earning Ratio terhadap Nilai Perusahaan pada Perusahaan Industri Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2017-2018. Jurnal Riset Manajemen dan Akuntansi, 9(1), 64-75.
Martini, R. S., & Siddi, P. (2021). Pengaruh Return on Assets, Debt to Equity Ratio, Total Assets Turnover, Net Profit Margin,dan Kepemilikan Manajerial terhadap Pertumbuhan Laba. Akuntabel: Jurnal Akuntansi dan keuangan, 18(1), 99-109. http://dx.doi.org/10.29264/jakt.v18i1.8741
Megamawarni, & Pratiwi, A. (2021). Pengaruh Rasio Keuangan dan Pertumbuhan Perusahaan terhadap Dividend Payout Ratio (DPR) dan Implikasinya pada Harga Saham Perusahaan Perbankan yang Listing di Bursa Efek Indonesia (BEI). Jurnal Maksipreneur: Manajemen, Koperasi, dan Entrepreneurship, 11(1), 47-68. http://dx.doi.org/10.30588/jmp.v11i1.829
Meiryani. (2021, August 12). Memahami Analisis Regresi Linear Berganda. Retrieved March 10, 2022, from Accounting Binus: https://accounting.binus.ac.id/2021/08/12/memahami-analisis-regresi-linear-berganda/
Nainggolan, R. (2020). Efisiensi Teknis Bank di Indonesia: Kelompok Buku I-IV. Jurnal Muara Ilmu Ekonomi dan Bisnis, 4(2), 274-284. https://doi.org/10.24912/jmieb.v4i2.7988
Ningsih, S., & Sari, S. P. (2019). Analysis of the Effect of Liquidity Ratios, Solvability Ratios and Profitability Ratios on Firm Value Go Public Companies in the Automotive and Component Sectors. International Journal of Economics, Business and Accounting Research (IJEBAR), 3(4), 351-359.
Otoritas Jasa Keuangan. (2020). Statistik Perbankan Indonesia. Jakarta: Otoritas Jasa Keuangan RI, 19(1), 46.
Oktavia, Y., & Kalsum, U. (2021). Pengaruh Keputusan Investasi, Keputusan Pendanaan, Kebijakan Dividen dan Profitabilitas Terhadap Nilai Perusahaan di BEI. Jurnal Ilmu Manajemen, 11(1), 39-52. https://doi.org/10.32502/jimn.v11i1.3137
Rahmani, N. A. (2020). Pengaruh ROA (Return nn Asset), ROE (Return on Equity), NPM (Net Profit Margin), GPM (Gross Profit Margin) Dan EPS (Earning Per Share) Terhadap Harga Saham dan Pertumbuhan Laba pada Bank yang Terdaftar di Bursa Efek Indonesia Tahun 2014 -2018. HUMAN FALAH: Jurnal Ekonomi dan Bisnis Islam, 7(1), 103-116.
Rais, W. P., Yustika, N. F., & Darmawan, A. A. (2021). Kontribusi Profitabilitas terhadap Pertumbuhan Laba PT. Bank Rakyat Indonesia (Persero), Tbk. Jurnal Ekonomi dan Bisnis, 8(2), 122-130. https://doi.org/10.34308/eqien.v8i2.240
Saputri, C. K., & Giovanni, A. (2021). Pengaruh Profitabilitas, Pertumbuhan Perusahaan dan Likuiditas terhadap Nilai Perusahaan. Journal of Management Studies, 15(1), 90-108. https://doi.org/10.21107/kompetensi.v15i1.10563
Sari, M., & Jufrizen. (2019). Pengaruh Price Earning Ratio dan Return on Asset terhadap Price to Book Value. Jurnal KRISNA: Kumpulan Riset Akuntansi, 10(2), 196-203.
Sari, B. P., & Muslihat, A. (2021). Pengaruh Earning Per Share, Ukuran perusahaan, dan Net Profit Margin terhadap Price to Book Value pada Perusahaan Pertambangan Batubara yang Terdaftar di BEI Tahun 2012-2019. Jurnal KRISNA: Kumpulan Riset Akuntansi, 12(2), 218-224.
Setiadi, K. R., & Suhartoko, Y. (2021). Analisis Pengaruh Indikator Penilaian Tingkat Kesehatan Bank Berbasis Risiko terhadap Nilai Market Share pada Bank Buku IV di Indonesia Periode 2009-2019. Jurnal Manajemen, 18(1), 1-92. https://doi.org/10.25170/jm.v18i1.1689
Siahaan, R., Alexander, S. W., & Pusung, R. J. (2021). Pengaruh Kepemilikan Manajerial, Firm Size, and Size of the Board of Directors toward the Potential of Financial Distress in Transportation Companies on Indonesia Stock Exchange. Jurnal EMBA, 9(3), 675-684. https://doi.org/10.35794/emba.v9i3.34979
Sihotang, E. T., Puspasari, I. D., & Kurnia, A. U. (2020). Evaluasi Rasio Keuangan pada Kategori BUKU 3. Jurnal Manajemen dan Keuangan, 9(2), 187-205. https://doi.org/10.33059/jmk.v9i2.2615
Siregar, O. K., & Dani, R. (2019). Pengaruh Deviden Yield dan Price Earning Ratio terhadap Return Saham di Bursa Efek Indonesia Tahun 2016 Sub Sektor Industri Otomotif. Jurnal Akuntansi Bisnis dan Publik, 9(2), 60-77.
Triyanti, N., & Susila, G. P. (2021). Pengaruh NPM, ROA dan EPS terhadap Harga Saham pada Perusahaan Sub Sektor Perbankan di BEI. Jurnal Ilmiah Mahasiswa Akuntansi, 12(2), 635-646. http://dx.doi.org/10.23887/jimat.v12i2.32730
Widiantari, K. S., & Iswara, K. A. (2021). Pengaruh Current Account Saving Account (CASA), Loan to Deposit Ratio (LDR), dan Net Performing Loan (NPL) terhadap Laba Bersih Perusahaan Perbankan yang Terdaftar di BEI Periode 2016-2020. Jurnal Ilmiah Akuntansi dan Bisnis, 6(2), 76-89. https://doi.org/10.38043/jiab.v6i2.3236
Wijanarko, G. H. (2022). Pengaruh EPS, PER, dan PBV terhadap Harga Saham Perbankan di BEI Tahun 2017-2019. Jurnal Ilmiah Indonesia, 7(1), 1244-1253.
Wijaya, R. (2019). Analisis Perkembangan Return on Assets (ROA) dan Return on Equity (ROE) untuk Mengukur Kinerja Keuangan. Jurnal Ilmu Manajemen, 9(1), 40-51. https://doi.org/10.32502/jimn.v9i1.2115
Worotikan, E. R., Koleangan, R. A., & Sepang, J. L. (2021). Pengaruh Current Ratio (CR), Debt to Equity Ratio (DER), Return on Asset (ROA) dan Return on Equity (ROE) terhadap Return Saham pada Perusahaan Food and Beverages yang Terdaftar di Bursa Efek Indonesia Pada Tahun 2014-2018. Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis, dan Akuntansi, 9(3), 1296-1305. https://doi.org/10.35794/emba.v9i3.35518
Wulandari, B., Albert, Harianto, F., & Sovi. (2021). Pengaruh DER, ROE, SG, NPM, CR, DPRterhadap Nilai Perusahaan Sektor Industri yang terdaftar di BEI. Owner: Riset & Jurnal Akuntansi, 5(1), 96-106. https://doi.org/10.33395/owner.v5i1.326
Yasar, B., Martin, T., & Kiessling, T. (2020). An Empirical Test of Signalling Theory. Management Research Review, 43(11), 1309-1335. http://dx.doi.org/10.1108/MRR-08-2019-0338
www.cnbcindonesia.com diakses pada 17 Maret 2022
www.cnnindonesia.com diakses pada 09 Maret 2022
www.idx.co.id diakses pada 09 Maret 2022
www.ojk.go.id diakses pada 08 April 2022
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Jennifer, Wirawan Endro Dwi Radianto, Cliff Kohardinata
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
