The Effect of Health Banks on Share Returns in Banking Companies Listed on the IDX for the 2019 Period With Political Events (Indonesia Presidential Elections) as Dummy Variables

Roby Hadimurzani, Ardi Paminto, Irwansyah Irwansyah

Abstract


The capital market as an economic instrument is inseparable from environmental influences, both the economic environment and the non-economic environment. Political events are one of the non-economic risks that can influence investors' decisions to invest in the capital market. The purpose of this study is to determine the effect of political events in Indonesia in 2019 on stock returns during the Campaign Period & Presidential and Vice Presidential Elections along with the election of members of the DPR, DPD, Provincial DPRD, and Regency / City DPRD until their inauguration period on listed banking company stocks. On the Indonesia Stock Exchange. With the research title "The effect of bank health on stock returns in banking companies listed on the IDX for the 2019 period with political events (Indonesian Presidential Election) as a dummy variable. This research shows that the presidential election events in 2019 have no significant effect on the stock returns of banking companies that book IV. The results show that of the six (6) variables only two (2) have a significant positive effect, namely the ROA and CAR variables, the authors conclude that companies with capital capitalization above IDR 30 Trillion (Book IV) are not easily shaken or relatively stable. What investors are often familiar with is the Blue Chip stock, which has implications for stock returns to investors.


Keywords


capital market; stock return; political events

Full Text:

PDF

References


Agustiningrum, Rizky. (2011). Analisis pengaruh CAR, NPL, dan LDR terhadap profitabilitas pada Perusahaan Perbankan. Riski Agustiningrum, 885–902. https://doi.org/10.1097/MAJ.0b013e31825c6951

Alrhafynza Fima Bara, dan Ely Siswanto. 2017. “Reaksi Pasar Modal Indonesia Terhadap Peristiwa Politik Nasional”.Seminar Nasional Manajemen dan Bisnis Ke-3.47-57.

Ang, Andrew. dan Bekaert, G. 2004. Stock Return Predictability. Is it There?. Columbia University and NBER Journal, 8: pp: 40-53.

Ajiwanto, Awan Werdhy (2013). Pengaruh Good Corporate Governance Terhadap Return Saham Perusahaan Yang Terdaftar Di Corporate Governance Perception Index Dan Bursa Efek Indonesia Periode 2010-2012.

Bank Indonesia.(1998). Undang-Undang Nomor 10 Tahun 1998 tentang Perubahan Undang-Undang No. 7 Tahun 1992 tentang Perbankan

Bank Indonesia.(2004). Peraturan Bank Indonesia Nomor.6/10/PBI/2004 tentang system Penilaian Tingkat Kesehatan Bank Umum.

Bank Indonesia.(2004). Surat Edaran Bank Indonesia Nomor.6/23/DPNP/2004 Tanggal 31 Mei 2004 tentang Sistem Penilaian Tingkat Kesehatan Bank Umum.

Bank Indonesia.(2011). Peraturan bank Indonesia Nomor .13/1/PBI/2011 Tentang Prosedur dan Mekanisme Penilaian Tingkat Kesehatan Bank.

Bank Indonesia.(2011). Surat Edaran Bank Indonesia Nomor .13/24/DPNP/2011 pada tanggal 25 Oktober 2011 Tentang Penilaian Tingkat Kesehatan Bank Umum.

Bank Indonesia.(2013). Surat Edaran Bank Indonesia Nomor 15/15/DPNP/2013 tentang Pelaksanaan Good Corporate Governance Pada Bank Umum.

Braun, Matias and Claudio Raddatz. (2010). Banking On Politic : When Former High-Ranking Politicians Become Bank Directors. The World Bank Economic Review Journal.

Brigham, Eugene F dan Houston (2006). Fundamental of Financial Management: Dasar-Dasar Manajemen Keuangan. Edisi 10. Jakarta: Salemba Empat.

Dendawijaya, Lukman (2005). Manajemen Perbankan, Jakarta: Penerbit Ghalia Indonesia.

Dewi, Farida Shinta., et.all (2016), Analysis of Effect of CAR, ROA, LDR, Company Size, NPL and GCG to Bank Profitability (Case Study On Banking Companies Listed in BEI Period 2010-2013)., Journal Of Accounting.

Diniar, Ayudia Hanung dan Kiryanto. (2015) . “Analisis Dampak Pemilu Presiden Jokowi Terhadap Return Saham”. Jurnal Akuntansi Indonesia.Vol. 4. No. 2. 97.

Ghozali, Imam. (2011). Aplikasi Analisis Multivariate dengan Program SPSS. Semarang : Badan Penerbit Universitas Diponegoro, Semarang.

Halim, Abdul. (2005). Analisis Investasi. Edisi ke 2. Jakarta: Salemba empat.

Hartono, Jogiyanto (2010). Teori Portofolio dan Analisis Investasi. Edisi keenam. Yogyakarta : BPFE.

Heryana, Ratih Puji Yanti., (2018), Pengaruh Tingkat Kesehatan Bank Dengan Menggunakan Metode Risk-Based Bank Rating Terhadap Return Saham Pada Perusahaan Perbankan Yang Go Public Di Bursa Efek Indonesia., Universitas Islam Indonesia.

Hidayat, Mohammad Fahri Nor (2015). Analisis Pengaruh Return On Asset, Loan To Deposit Ratio, Dan Capital Adequacy Ratio Terhadap Return Saham.

Ismail (2015). Akuntansi Bank: Teori dan Aplikasi dalam Rupiah. Jakarta: Kencana Prenada Media Grop

Ismani., et al (2007). Pedoman Penulisan Tugas Akhir. Yogyakarta : Universitas Negeri Yogyakarta

Jefferis, K. and Okeahalam, C. (1999) An Event Study of the Botswana, Zimbabwe and Johannesburg Stock Exchanges. South African Journal of Business Management, 30, 131-140.

Jensen, G.R. and Johnson R.R. (1995) Discount Rate Changes and Security Returns in the US 1962-1991. Journal of Banking and Finance, 19, 79-95.

Kasmir. (2007). Dasar-dasar Perbankan. Jakarta :PT .Raja Grafindo Persada.

Katti, Siti Wardhani Bakri. (2018). “Pengaruh Peristiwa Politik (Pemilu Presiden Dan Pengumuman Susunan Kabinet) Terhadap Saham Sektor Industri Di Bursa Efek Indonesia”. Jurnal Capital. 126-134.

Khalil, Muhammad dan Raida Fuadi (2016). Analisis Penggunaan Metode Risk Profile, Good Corporate Governance, Earning, And Capital (RGEC) Dalam Mengukur Kesehatan Bank Pada Bank Umum Syariah Di Indonesia Periode 2012-2014.

Kidder. (1981). Research Methods in Social Relations. New York : Rinehart & Winston.

Kieso, et al 2007. Akuntansi Intermediete, Terjemahan Emil Salim, Jilid 1, Edisi Kesepuluh, Penerbit Erlangga, Jakarta.

Loannidis, C. and Kontonikas, A. (2008) The Impact of Monetary Policy on Stock Prices. Journal of Policy Modeling, 30, 33-53

M.A, Widiyanto (2013). Statistika Terapan, Jakarta : PT Elex Media Komputindo

Shaw, John C. (2003). Corporate Governance and Risk: A System Approach. New Jersey: John Wiley & Sons, Inc.

Sulaeman, Maman (2018). Pengaruh Debt To Equity Dan Non Performing Loan Terhadap Return Saham Emiten Bursa Efek Indonesia Subsektor Perbankan

Saidjada, K.M., Hossain, M.S. and Rahman, M.H. (2014) Effects of Monetary Policy on Capital Markets in Bangladesh. Bangladesh Bank Monetary Policy Review, 8, 50-62.

Samsul, Muhamad. 2006. Pasar Modal Dan Manajemen Portofolio.Penerbit Erlangga. Surabaya

Sugiyono. (2016). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: PT Alfabet

Suharsimi Arikunto. 2014. Prosedur Penelitian Suatu Pendekatan Parktik. Jakarta: Rineka Cipta

Takarini, N dan U. H. Putra. 2013. . JurnalNeO.Bis.

Tandelilin, Eduardus. (2001). Analisis Investasi Dan Manajemen Portofolio.Yogyakarta : PT.BPFE.

Ulfha, S R. (2019). Role of Knowledge Sharing and Organizational Commitment to Development Micro Small and Medium Enterprises (MSMEs). Budapest International Research and Critics Institute-Journal (BIRCI-Journal). pp. 307-312.

Widodo, Saniman. 2007. Analisis Pengaruh Rasio Aktivitas, Rasio Profitabilitas, Dan Rasio Pasar, Terhadap Return Saham Syariah Dalam Kelompok Jakarta Islamic Index (JII) Tahun 2003–2005.Disertasi Program Pasca Sarjana Universitas Diponegoro.

Witjaksono, Armanto dan Monica Nathalia .(2014). Pengaruh Tingkat Kesehatan Bank Berdasarkan Metode RGEC Terhadap Return Saham Pada Perusahaan Perbankan Go Public Di Indonesia Stock Exchange (IDX) Tahun 2011-2012




DOI: https://doi.org/10.33258/birci.v4i3.2322

Article Metrics

Abstract view : 21 times
PDF - 14 times

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.