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All Journal Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) AFRE Accounting Financial Review
Lauda, Farhan
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Religion Economics, Econometrics & Finance Social Sciences

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State-Owned Islamic Banks Merger Impact on Capital Quality and Market Share of National Islamic Banking Lauda, Farhan; Purnamadewi, Yeti Lis; Beik, Irfan Syauqi
AFRE (Accounting and Financial Review) Vol. 7 No. 3 (2024)
Publisher : Postgraduate Program Merdeka University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/afr.v7i3.14433

Abstract

This study aims to analyze the impact of the merger of three state-owned Islamic banks on the capital quality and market share of national Islamic banking and identify the factors influencing them. The research employs a quantitative approach using monthly time series data from 2018 to 2023. Data analysis was conducted using a paired sample t-test, Wilcoxon Sign-Test and Vector Error Correction Model (VECM). The results show significant difference in the market share of national Islamic banking before and after the merger, though there was no significant difference in the average of CAR. VECM analysis reveals that NPF, ROE, BOPO, and FDR influence CAR and market share of Islamic banking in the long term, while FDR has a significant effect on CAR in the short term. The merger significantly affects CAR but not the market share of Islamic banking, whereas controlling shareholders (PSP) decisions significantly impact market share of Islamic banking. JEL Classification: C14, G21, G28 DOI: https://doi.org/10.26905/afr.v7i3.14433
Determinants of Islamic Bank Share Price Fluctuation During the Covid 19 Pandemic: The Case of BTPN Syariah Bank Shares Lauda, Farhan; Fitri, Resfa; Hasanah, Qoriatul
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 13 No. 2 (2021)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v13i2.22479

Abstract

Abstract. The Covid-19 pandemic has caused a decline in the performance of the national economy. However, the share price of Islamic banks, especially the BTPN Syariah Bank (BTPS), has continued to grow. This study aims to identify and evaluate the variables affecting BTPS stock price fluctuation, using The Vector Error Correction Model (VECM). The results show that in the short term, only the Jakarta Composite Index variable had a significant effect on the stock price of BTPS. While in the long term, the variables of Price to Book Value (PBV), Trading Volume Activity (TVA), GDP, Bank Indonesia (BI) Reference Interest Rate, and the Jakarta Composite Index had a significant effect on BTPS stock price. Based on the Impulse Response Function (IRF) analysis, the stock price of BTPS responded negatively to shocks in GDP, TVA, and the exchange rate. Meanwhile, the shocks of Earning Per Share, PBV, BI Reference Interest Rate, and the Jakarta Composite Index were responded positively by BTPS share price. Based on the Forecast Error Variance Decomposition analysis, PBV gave the highest contribution in explaining the diversity of BTPS stock prices fluctuation.Keywords: Covid-19, BTPS Shares, VECM, Internal Factors, External FactorsAbstrak. Pandemi Covid-19 menyebabkan penurunan perekonomian nasional. Namun, harga saham bank syariah, khususnya saham PT. Bank BTPN Syariah (BTPS) tetap tumbuh. Penelitian ini bertujuan untuk mengetahui faktor yang memengaruhi perubahan harga saham BTPS, dengan metode Vector Error Correction Model (VECM). Hasil penelitian menunjukan bahwa dalam jangka pendek, hanya variabel Indeks Harga Saham Gabungan yang berpengaruh signifikan terhadap harga saham BTPS. Sementara pada jangka panjang, variabel Price to Book Value (PBV), Trading Volume Activity (TVA), PDB, Suku Bunga Acuan Bank Indonesia (BI), dan Indeks Harga Saham Gabungan berpengaruh secara signifikan terhadap harga saham BTPS.  Berdasarkan analisis Impulse Response Function (IRF), harga saham BTPS merespon negatif adanya guncangan PDB, TVA, dan nilai tukar. Sementara guncangan Earning Per Share, PBV, Suku Bunga Acuan BI, dan Indeks Harga Saham Gabungan direspon positif oleh harga Saham BTPS. Berdasarkan analisis Forecast Error Variance Decomposition, PBV memberikan kontribusi tertinggi dalam menjelaskan keragaman perubahan harga saham BTPS.Kata kunci: Covid-19, Saham BTPS, VECM, Faktor Internal, Faktor Eksternal
Co-Authors Fitri, Resfa Hasanah, Qoriatul Irfan Syauqi Beik Yeti Lis Purnamadewi