PENGARUH VARIABEL FUNDAMENTAL PADA HARGA SAHAM BANK YANG TERDAFTAR DI BURSA EFEK INDONESIA SEBELUM DAN PADA MASA KRISIS EKONOMI GLOBAL
ABSTRACT: The aims of this
research are to analyze the impact of fundamental variables on bank stock price
in two different period. We analyze two years before and one year during global
economic crisis in Indonesian Stock Market. The samples consist of 24 banks listed
at Indonesia Stock Market. Linier regression is used to analyzed the impact of
independent variables on dependent variable. We use Capital Adequate Ratio
(CAR), Non Performing Loan ( NPL), Return on Asset (ROA), ratio Operating Cost
to Operating Revenue (BOPO), Loan to Deposit Ratio (LDR) and deposit rate as
independent variables. Dependent variable is banks stock price. We find all
fundamental variables and deposit rate have impact on banks stock price
simultaneosly before crisis period. Different result showed in another period,
none of the variables have impact on banks stock price. We find ROA and LDR
have impact on bank stock price partially before crisis. CAR, NPL, BOPO and
deposit rate have no impact on banks stock price. This result shows that fundamental
variables have different impact in two different period. The potential
explanation is investors become irrational in the period of crisis so none of
fundamentals variables have no impact on banks stock price.
Keywords: fundamentals
variables, bank stock price, global economic crisis period
Penulis: Ernawati , Fifi
Swandari
Kode Jurnal: jpmanajemendd100095
Pesan jurnal yang anda butuhkan disini.... >>> KLIK DISINI <<<
