PENGARUH CAR, NPL, NIM DAN LDR TERHADAP HARGA SAHAM (STUDY KASUS PADA BANK BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2008-2012)
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Date
2013
Authors
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Publisher
Magister Management Universitas Widyatama Bandung
Abstract
This research aims to determine and analyze the effect of the variable
CAR, NPL, NIM, and LDR, the Value Banking which is proxied by stock price.
The research was conducted to gain an idea of how much influence the CAR,
NPL, NIM, LDR, the stock price as well as to test hypotheses about the influence
of CAR, NPL, NIM, LDR, the stock price, according to the research objectives to
be achieved.
The data used in this study were obtained from the Annual Financial
Report of the website each Commercial Banks Year 2008-2012. The total sample
of 3 (three) goverentment banks listed in the Indonesia Stock Exchange in the
period 2008-2013 were taken by purposive sampling, but researchers only took 3
of the existing state-owned bank in Indonesia, Bank BRI, Bank Mandiri and Bank
BNI, Bank BTN while not used because the study sample since 2010 is not listing
on the Indonesian stock exchange.
The analysis technique used is multiple linear regression analysis. The
results can be seen simultaneously that F count <F table F value (7,548) ≥ F
table (2.490), which means that a significant difference between the simultaneous
Capital Adequacy Ratio (CAR), Non Performing Loan (NPL), Net Interest Margin
(NIM), and the loan to deposit ratio (LDR) of the stock price. Once the test is
done simultaneously with significant results, then conducted a partial test to see
where the independent variables that affect the stock price. For this test t test, the
results are: CAR (X1) no partial the effect on Stock Price [t-count (-0.451)], NPL
(X2) there is a partial the effect on Stock Price [t-count (-3.052) ], NIM (X3) no
partial the effect on Stock Price [t-count (-0.315)], LDR (X4) no partial the effect
on Stock Price [t-test (1.068)].
Hypothesis test results indicate that the LDR variable (X4) but not
significant positive effect on stock price as well as the variable CAR (X1), NPL
(X2) and NIM (X3) has a negative and significant the effect on Stock Price (Y).
Predictive ability of the four independent variables on the stock price is equal to
65.2% of the indicated amount of adjusted R2, the remaining 34.8% is explained
by other variables outside our model.
Description
Keywords
CAR, NPL, NIM, LDR, stock price.