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Internal and External Determinants of Banking Stock Performance: Evidence from the Indonesia Stock Exchange Syahid, Aliah Muthiah; Pitriana, Ida; Lestari, Henny Setyo
Jurnal Ilmiah Manajemen Kesatuan Vol. 12 No. 6 (2024): JIMKES Edisi November 2024
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v12i6.2916

Abstract

This study examines the factors influencing stock performance in banking institutions listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. A quantitative approach using panel data regression is applied to assess the impact of internal financial metrics—such as Earningss per Share (EPS), Dividend per Share (DPS), Price-to-Earningss Ratio (P/E), and Book Value per Share (BVPS)—as well as external macroeconomic variables, including inflation, Gross Domestic Product (GDP), and bank size, on Market Price per Share (MPS). The study employs the random-effect model, along with statistical tests such as Chow, Hausman, and Lagrange Multiplier, to determine the most suitable regression model. The results reveal that EPS, BVPS, and bank size have significant positive impacts on MPS, indicating that higher profitability, strong intrinsic equity value, and larger institutional size are associated with better stock performance. In contrast, DPS, P/E, inflation, and GDP show no significant influence, suggesting that investors in the banking sector focus more on other aspects, such as EPS, BVPS, and bank size rather than the amount of dividends distributed, share price compared to profitability, inflation, and GDP.
The Effect of Liquidity Management on the Company's Financial Performance Amelia, Rizki; Pratama, Bayu Aji; Lestari, Henny Setyo
Jurnal Ilmiah Manajemen Kesatuan Vol. 12 No. 6 (2024): JIMKES Edisi November 2024
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to assess the impact of liquidity management on the financial performance of companies in the consumer cyclical sector listed on the Indonesia Stock Exchange (IDX) during the period of 2019-2023. The primary focus of the research is to examine the effect of three liquidity ratios—Current Ratio (CR), Quick Ratio (QR), and Cash Ratio (CR)—on Return on Capital Employed (ROCE). Using a purposive sampling method, 50 companies that met the criteria were included in the analysis, which was conducted using panel data regression. The results show that none of the liquidity variables had a significant impact on ROCE, indicating that the company's liquidity level does not directly determine the performance of the capital used to generate profits in this sector. These findings provide valuable insights for companies and investors, suggesting that liquidity is not the only determining factor in capital management and profitability strategies. Therefore, companies and investors need to consider other variables that may influence financial performance, such as capital structure, operational efficiency, and market conditions, when formulating business strategies and investment decisions.
Pengaruh Likuiditas Terhadap Kinerja Keuangan Perusahaan Manufaktur Non-Cyclicals Yang Terdaftar Di Bursa Efek Indonesia Laksono, Wafi Suryo; Sastraprawira, Mohamad Zahran Danes; Lestari, Henny Setyo
Diversity: Jurnal Ilmiah Pascasarjana Vol. 4 No. 3 (2024): Diversity: Jurnal Ilmiah Pascasarjana
Publisher : Universitas Ibn Khaldun Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32832/djip-uika.v4i3.18125

Abstract

Perusahaan manufaktur non-cyclicals mempunyai peran sangat strategis dalam meningkatkan taraf hidup masyarakat. Sektor konsumen non-cyclicals mencakup industri yang berkaitan dengan kebutuhan pokok konsumen, layanan medis dan utilitas. Penelitian ini membahas tentang untuk mengetahui hubungan antara likuiditas dan kinerja keuangan perusahaan non-cyclicals yang diperdagangkan secara publik di Bursa Efek Indonesia. Metode penelitian ini melibatkan pengumpulan data dari 32 perusahaan manufaktur non-cyclicals selama periode 5 tahun (2019-2023) dan penerapan analisis olah data memakai teknik analisis regresi data panel. Hasil penelitian menemukan bahwa current ratio berpengaruh positif tidak signifikan terhadap ROA dan berpengaruh negatif tidak signifikan terhadap ROE. Cash ratio berpengaruh negatif tidak signifikan terhadap ROA dan berpengaruh positif tidak signifikan terhadap ROE. Firm size berpengaruh negatif tidak signifikan terhadap ROA dan berpengaruh positif tidak signifikan terhadap ROE. Firm growth berpengaruh negatif signifikan terhadap ROA dan berpengaruh positif tidak signifikan terhadap ROE. Leverage berpengaruh negatif signifikan terhadap ROA dan ROE. Data yang dianalisis dalam penelitian ini berasal dari website Bursa Efek Indonesia (BEI) dan mencakup periode 2019-2023.
Pengaruh Tata Kelola Perusahaan Terhadap Struktur Modal di Indonesia Perwitasari, Indah; Yusfania, Bilkis; Lestari, Henny Setyo
SEIKO : Journal of Management & Business Vol 7, No 1.1 (2024)
Publisher : Program Pascasarjana STIE Amkop Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/sejaman.v7i1.7674

Abstract

This study aims to evaluate the impact of corporate governance on the capital structure of manufacturing companies on the IDX for the 2019-2023 period. The independent variables included board size, board independence, and frequency of board meetings, while the dependent variable is the debt ratio measured by the company's total debt. Using panel data regression method and purposive sampling on 55 companies, the study found that board meeting frequency has a significant negative impact on debt ratio, while board size and independence have no significant impact. The managerial implication of this result is that it is important for companies in planning capital structure and providing direction to investors regarding the risk and debt policy of the company. Kata Kunci: Capital Structure, Debt Ratio, Corporate Governance, Board Size, Board Independence, Board Independence.
Pengaruh Income Diversification Terhadap Kinerja Bank Komersial yang Terdaftar di Bei Putri, Rizky Anugrah; Mendieta, Ariska Carollina; Lestari, Henny Setyo
Jurnal Ilmiah Wahana Pendidikan Vol 10 No 21 (2024): Jurnal Ilmiah Wahana Pendidikan
Publisher : Peneliti.net

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.14504370

Abstract

Penelitian ini dilakukan untuk menganalisis pengaruh diversifikasi pendapatan terhadap kinerja bank komersial yang terdaftar di BEI. Sampel yang digunakan merupakan 37 perusahaan perbankan komersial yang terdaftar di BEI pada periode penelitian 2018-2022. Penelitian ini menggunakan tiga jenis variabel, variabel dependen yang digunakan adalah kinerja bank yang diukur menggunakan tingkat pengembalian aset dan tingkat pengembalian ekuitas. Variabel independen yang digunakan yaitu diversifikasi pendapatan dan penelitian ini menggunakan variabel kontrol yaitu ukuran bank, struktur modal, tingkat pertumbuhan aset, ukuran kredit, ketentuan pinjaman, deposito, efisiensi manajemen, tingkat pertumbuhan ekonomi dan tingkat inflasi. Hasil penelitian menunjukkan bahwa diversifikasi pendapatan tidak berpengaruh terhadap kinerja bank. Variabel kontrol ukuran bank berpengaruh positif terhadap kinerja bank diukur dengan tingkat pengembalian ekuitas, variabel ketentuan pinjaman dan efisiensi manajemen berpengaruh negatif terhadap kinerja bank. Hasil penelitian diharapkan dapat memberikan implikasi bagi manajer perbankan untuk memperhatikan hasil terkait pengaruh ketentuan pinjaman dan efisiensi manajemen terhadap kinerja bank dan sebagai referensi bagi investor untuk dapat mempertimbangkan variabel-variabel tersebut dalam mengambil keputusan investasi.
Leverage, Fixed Assets, and Board Characteristic on Financial Performance of Non-Cyclicals Companies Muhammad Rizky; Sajida, Yusrina Almas; Lestari, Henny Setyo; Margaretha, Farah
Management Analysis Journal Vol. 13 No. 4 (2024): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v13i4.20072

Abstract

This study aims to analyze the impact of noncyclical company characteristics, board of director composition, and leverage on financial performance in Indonesia. The researcher uses quantitative research methodology to collect and analyze data. To investigate the impact of significant factors on each other, this study uses multiple linear regression analysis as its data analysis approach. The 66 sampled organizations all have data collected from their annual reports between 2019 and 2023. The result of the analysis shows that ROA and ROE impacted by the debt ratio. Tangible assets have an impact on ROE but not impact on ROA. Board size positively affects ROA but not affect on ROE. Board independence influences ROA but has no effect on ROE. ROA and ROE are impacted by firm size.
The Influence Of Ceo Characterıstıcs, Rısk Management, Fınancıal Dıgıtalızatıon And Exchange Rate On Bank Performance Moderated By Interest Rate In Indonesia Bambang Susilo; Bahtiar Usman; Henny Setyo Lestari
Asian Journal of Management, Entrepreneurship and Social Science Vol. 5 No. 01 (2025): Upcoming issues, Asian Journal of Management Entrepreneurship and Social Scien
Publisher : Cita Konsultindo Research Center

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This research aims to analyze the influence of CEO characteristics (Nationality and Education), risk management (Value at Risk), Financial Digitalization, and Exchange Rate on bank performance measured by Return on Risk-Adjusted Capital (RORAC), as well as to examine the moderating effect of Interest Rate on the relationship between these variables and bank performance. This research employs a quantitative approach using panel data regression analysis with Moderated Regression Analysis (MRA). Data was collected from financial reports of conventional banks listed on the Indonesia Stock Exchange during the 2019-2023 period. The results show that CEO Nationality has a significant negative effect on bank performance, CEO Education has a significant negative effect on bank performance, Value at Risk has no significant effect on bank performance, Financial Digitalization has a significant negative effect on bank performance, Exchange Rate has a significant positive effect on bank performance, and Interest Rate has a significant positive effect on bank performance. Regarding moderating effects, Interest Rate strengthens the influence of CEO Nationality on bank performance, strengthens the influence of CEO Education on bank performance, does not moderate the influence of Value at Risk on bank performance, strengthens the influence of Financial Digitalization on bank performance, and weakens the influence of Exchange Rate on bank performance. This research provides theoretical implications, demonstrating the complexity of relationships between CEO characteristics, risk management, and digital transformation in the Indonesian banking context. For practitioners, these findings emphasize the importance of balancing formal education and practical experience in bank leadership, as well as the need for a strategic approach to digital technology implementation. For regulators, these findings encourage the development of regulatory frameworks that consider the dynamics of bank leadership and digital transformation. Practically, banks need to develop comprehensive strategies in managing leadership transitions and digital transformation while considering macroeconomic conditions
Pengaruh Diversifikasi Pendapatan, Firm Specific, dan Makroekonomi terhadap Kinerja Perbankan di BEI Maharestu, Aruna Ardya; Jannatul Mawah, Nana; Nurhaliza, Riqqah; Lestari, Henny Setyo
Economic Reviews Journal Vol. 4 No. 1 (2025): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v4i1.636

Abstract

This study aims to analyze the impact of income diversification, firm-specific factors, and macroeconomic factors on the performance of banks listed on the Indonesia Stock Exchange. The firm-specific factors examined include bank size, capital structure, asset growth rate, loan loss provisions, and management efficiency, while the macroeconomic factors include economic growth rate and inflation. The increasingly competitive banking industry encourages banks to shift their orientation from labor-based business to knowledge-based business, necessitating a comprehensive performance evaluation. Return on Assets (ROA) is used as an indicator to measure bank performance. This study uses a quantitative approach with data from banks listed on the Indonesia Stock Exchange. The results of the study indicate that income diversification, bank size, capital structure, asset growth rate, loan loss provisions, management efficiency, economic growth rate, and inflation rate do affect company performance, and capital structure have an effect on company performance.
The Effect Of Operational Efficiency On The Financial Performance Of Banks In Indonesia Ivan Wiryawan; Seno Banyu Aji Yudha Pratama; Henny Setyo Lestari; Farah Margaretha
Jurnal Ekonomi Vol. 13 No. 03 (2024): Jurnal Ekonomi, Edition July -September 2024
Publisher : SEAN Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to provide insight into asset utilization, company size, and loan quality significantly affecting the financial performance of banking companies listed on the Indonesia Stock Exchange (IDX). In addition, it can show factors that can strengthen the stability and efficiency of banks which ultimately have an impact on the economy as a whole, especially the community massively. The novelty of this study is the addition of asset utilization variables that are included in the independent variables. The background of this research is driven by the increasing complexity of the banking sector, particularly in Indonesia, where the efficiency and stability of banks play a crucial role in overall economic health. With the rapid growth of the financial sector, especially in the context of banking, it becomes essential to evaluate how effectively these institutions utilize their assets and maintain loan quality in order to optimize financial performance. The research method used by the researcher was quantitative with secondary data sources obtained from 42 banking companies for a 5-year period (2020 - 2023). The data analysis technique used is panel data regression analysis. The results showed that NIITA, NICTA, OEOI, SIZE, and LOAN had a significant impact on financial performance (NIM), and only the CAP variable did not have a significant historical effect. The implications in the research are devoted to financial managers to determine the proper management of assets so that business goals can be obtained, especially in improving investor welfare. The focus of this research is to strengthen the cruciality of ownership structure and liquidity for investors in choosing the right investment opportunities in a banking company.
Pentingnya Literasi Keuangan Bagi UMKM Rufata Lestari, Henny Setyo; Reniati Karnasi; Tiarapuspa; Alfad Alfarizki
Dirkantara Indonesia Vol. 3 No. 2 (2025): September-Februari
Publisher : PT. Cendekia Sapta Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55837/di.v3i2.120

Abstract

Literasi keuangan merupakan tingkat pengetahuan dan kemampuan untuk mengelola keuangan. Beberapa studi terdahulu mengemukakan bahwa literasi keuangan berperan penting bagi business sustainability. Tingkat pengetahuan dan kemampuan pengelolaan keuangan yang dimiliki pelaku usaha menjadi salah satu kunci sukses bagi keberlangsungan usahanya. Bagaimana manfaat literasi keuangan bagi business sustainability? Uraian tentang manfaat literasi keuangan bagi business sustainability menjadi tujuan dari studi ini. Analisis dilakukan dengan metode deskriptif kualitatif, yaitu mendasarkan pada hasil kuesioner. UMKM Rufata yang menjadi mitra dalam PkM ini. Hasil analisis menyimpulkan bahwa dengan memiliki literasi keuangan yang baik maka pelaku usaha akan cenderung mampu membuat keputusan bisnis yang berorientasi jangka panjang. Selain itu, pelaku usaha akan cenderung mampu membuat konsep aktivitas bisnis yang berkelanjutan sehingga business sustainability-nya tetap dapat dipertahankan. Berdasarkan hasil ini diharapkan dapat tersusun konsep yang berkaitan dengan manfaat literasi keuangan bagi pelaku usaha, khususnya pelaku UMKM Rufata.
Co-Authors Abdul Rahman, Johan Nazwar Adawiyah, Wiwik Robiatul Adli Saputra Aekram Faisal Afrizal Elgi Agus Budi Hartono Agustine, Elsa Aisyah Putri Nabila Akbar, Ilham Cahyo AKBAR, MAULANA Alfad Alfarizki Alfadhilo Rolandnic Korgiza Alfian Zata Thirafi Alif Satria Ichsan Alifyyah Putri Ajar Setiadi Alya Nisrina Hafsyah Amanda Jonatan Puteri Amelya Rahma Maulida Amirah, Nishrina Nurul Amriyadi Amriyadi Annisa Yasmine Adeputri Badan Anton Anugrah, Fatimah Ladiza Nuradhelia Aprilriani, Giya Aprilriani, Giya Ardana, I Dewa Ayu Nadya Dhanari Kirana Ardelia, Rahmadina Asep Hermawan Ayu Ekasari Ayu Purbaningrum Ayu Wulandari Azura, Amelinda Fairuz Bahtiar Usman Bahtiar Usman Bahtiar Usman Bahtiar Usman, Bahtiar BAMBANG SUSILO Bangun, Bastanna Erlayas Bayu Malindo Putra Budiman, Thomas Chintia, Helda Christy Yanwar Yosapat Dabo, Mia El Darmawan, Andik Rusdi Deany Putri Aprilia Deci Novesa Carani Dewi ANGGRAENI Dewi, Pramesti Baskoro Dewi, Rosiana Dhetoriana Permatasari Dita Ayu Nurani Djaja, Kerstan Nathanael Edwiga, Taqwa Ananda Eiyagina Tenika Eki Veronika Erny Tajib Eston, Maria Albertina Dewanti Fadilla, Akhmal Aries Fajar Rahmana Fanu, Ridhan Azka Hani Farah Margaretha FARAH MARGARETHA Farah Margaretha Leon FARDINI RAHMA DEWI Fariz Alfiknacio Abdat Ferina Ainul Latiefa Fibby Luthfia Georgina Maria Tinungki Hadyan, Kamal Hartini Haura Raihana Tsani Effendi Hendro Prasetio Herman Situmorang Ida Susanti Idrianita Anis Ignatius, Bayiuaji Indra Maulana Indra Saputra Indri Safitri Indriyantini, Dhiya Faza Intan Setyarini Ivan Wiryawan Jamaludin . Jannatul Mawah, Nana Jatmiko, Putut Jerry Ananta Ginting Jihan Mafaza Joseph Hendryawan Krisantanu Splendid JR. Dwi Mas Sukma Agung Karnasi, Reniati Kemal Reza Khaerunissa, Dinda Kholis, Muhammad Shofy Muhaiminu Kloko, Dita Evelyn Elintra Kurnia Yuniarti Kusumo, Prasetiyo Hadi Laksono, Wafi Suryo Latifah Herman Leon, Farah Margaretha Maelanal Husna Maharani Dheva Dwi Safitri Maharestu, Aruna Ardya Mahsa Hisanah Dalilah Marji Uliansyah Martiningtiyas, Catur Rahayu Mega Mersela Mela Aryasari Mendieta, Ariska Carollina Milah Fadhilah Kusuma Fasihu Milenia, Nadia Muhamad Albarr Khairan Muhammad Akmal Alauddin Muhammad Evirel Frasya Muhammad fauzan Muhammad Rizki Zhafran Muhammad Rizky Muhimah, Khoirul Mumpuni, Bella Putri Mutyarawati, Herlita Nabilah Salma Hersyandana Nadia Trisanti Nida Abdilla Ritonga nirdukita ratnawati, nirdukita Novia Krida Kurniawati Noviana Dwi Mas'ula Nugroho, Adhi Nurhaliza, Riqqah Nurul Inayah Nuury Nurmelia Oscar, Yosia Palguna, Arya Irawan Putra Panjaitan, Zulkarnain Pertiwi, Silva Nurbaiti Perwitasari, Indah Pitoyo, Mikha Merianti Pitriana, Ida Pitutur, Fajar Jati Powell Gian Hartono Pradana, Firmansyah Adhitya Pratama, Bayu Aji Pratama, Kelvin Purwidyasari, Scholastica Meillia Puspita, Grace Febiola Putra, Daffa Ikhsan Putri, Fara Ghassani Putri, Rizky Anugrah Raas, Asdi Aprilian Husnadarari Rafi Altaf Tjaputra Rahadiansyah, Reska Budi Rahmadina Ardelia Rahmawati Rahmawati Ramadhanti, Mutiara Reniati Karnasi Renny Risqiani Reskika, Nadira Rezalia, Vinny Rian Rizki Hidayat Riantino Septian Ricardo, Wilson Richy Wijaya Rika Maryani Rina Hartanti Ringke Dirdia Rizki Amelia Rizky Ramzi Rahmawan Rosidah Panjaitan Rowena, Janny Safitri, Dilla Ulfiani Sajida, Yusrina Almas Sarah Ayu Larasati Sastraprawira, Mohamad Zahran Danes Seno Banyu Aji Yudha Pratama Serly Permatasari Sihite, Sola Grace Lasmaria Simamora, Asnita Srie Wijihastuti Subri, Ahadi Suhardono, Adhyatma Ndaru Syahid, Aliah Muthiah Syahpria, M Fadly Syarlla Martiza Eka Putri Syofriza Syofyan Tambunan, Alexandria Leonard Tiara Puspa Tiarapuspa Trisnawati Trisnawati Veren Velicia Natalie Veronika Mutianingsih Vivian Vivian Wardana, Nofrizal Bagas Wicaksono, Ignatius Henry Wiguna, Utomo Adi Wijaya, Dewi Deliana Wina Wiwi Handayani Wulansari Dewi Y. Agus Bagus Budi N Yasminawati, Anjani Yolanda Limbong Yuannitha, Indri Ilma Yudha Pratama Hendrawan Yunita Kusumaningrum Yunita Kusumaningrum Yusfania, Bilkis Yusia Bela Zulfa Sukainah