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PENGARUH BI RATE, SUKU BUNGA PASAR UANG ANTAR BANK (PUAB) DAN FAKTOR-FAKTOR KINERJA BANK TERHADAP LABA PERBANKAN Prabowo, Bumi Prabu; Sihombing, Pardomuan
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 3, No 1 (2019)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v3i1.5158

Abstract

Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh BI rate, suku bunga pasar uang antar bank (PUAB) dan faktor-faktor kinerja bank terhadap laba perbankan. Kinerja bank yang dimaksud dalam penelitian ini meliputi  Capital Adequacy Ratio (CAR), Net Interest Margin (NIM), Non Performing Loan (NPL) dan Loan to Deposit Ratio (LDR). Data yang digunakan pada penelitian ini merupakan data bulanan untuk periode Januari 2011 sampai dengan Juni 2017 yang diperoleh dari situs resmi Otoritas Jasa Keuangan. Metode sampling yang digunakan adalah sampling jenuh, dimana semua anggota populasi dijadikan sebagai sample. Sedangkan metode analisis yang digunakan adalah Vector Auto Regression (VAR). Hasil penelitian menunjukan variabel yang memiliki pengaruh positif terhadap laba adalah variabel CAR. Sedangkan variabel yang memiliki pengaruh negatif terhadap laba diantaranya variabel NPL, BIR dan PUAB. Variabel yang memiliki kontribusi paling besar terhadap laba adalah variabel NPL dan variabel NIM
ANALISIS PENGARUH RASIO KEUANGAN TERHADAP RETURN SAHAM PERBANKAN PERIODE 2013-2017 Kurniawan, Andy; Sihombing, Pardomuan; Pramudena, Sri Marti
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 5, No 1 (2021)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v3i2.6357

Abstract

ABSTRACTThis study aims to analyze the financial ratios of stock return either partially or simultaneously on the banking sub-sector companies listed on the Indonesia Stock Exchange in 2013-2017. The population of this research is banking sub-sector company. The sample is taken by using purposive sampling method so that 10 banks are eligible as sample. This study uses data panel regression analysis method with Eviews 10 program, to know the effect of independent variable consist of LFR, CAR, ROA, NIM, NPL and PBV to stock return. The results of this study indicate that partially LFR and NPL has no significant effect on stock return. Partially CAR, ROA, PBV have positive and significant effect to stock return while NIM have negative and significant effect to stock return. The results of this study indicate that LFR, CAR, ROA, NIM, NPL and PBV simultaneously have a significant effect on stock returnsABSTRAKPenelitian ini bertujuan untuk menganalisa rasio keuangan terhadap return saham baik secara parsial maupun simultan pada perusahaan sub sektor perbankan yang terdaftar di Bursa Efek Indonesia pada tahun 2013-2017. Populasi dari penelitian ini adalah perusahaan sub sektor perbankan. Sampel diambil dengan menggunakan metode purposive sampling sehingga diperoleh 10 bank memenuhi syarat sebagai sampel. Penelitian ini menggunakan metode analisis regresi data panel dengan program Eviews 10, untuk mengetahui pengaruh variabel bebas yang terdiri dari LFR, CAR, ROA, NIM, NPL dan PBV terhadap return saham. Hasil penelitian ini menunjukkan bahwa secara parsial LFR dan NPL tidak memiliki pengaruh signifikan terhadap return saham. Secara parsial CAR, ROA, PBV berpengaruh positif dan signifikan terhadap return saham sedangkan NIM berpengaruh negatif dan signifikan terhadap return saham. Hasil penelitian ini menunjukkan bahwa LFR, CAR, ROA, NIM, NPL dan PBV secara simultan berpengaruh signifikan terhadap return saham.
DETERMINAN KINERJA PROFITABILITAS BANK (STUDI KASUS BANK YANG TERDAFTAR DI KOMPAS 100 – BEI TAHUN 2009 – 2012) Wijaya, Richo Dany; Sihombing, Pardomuan
Journal of Business Strategy and Execution Vol 7, No 2 (2015): Publish on June 2015
Publisher : Bina Nusantara University

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

Abstract

This study is aimed to test the impact of Capital Adequacy Ratio (CAR),  Net Interest Margin (NIM), Loan to Deposit Ratio (LDR), Operasional cost/ Operational revenue (BOPO) (BOPO), Non Perfoming Loan (NPL) and Size  on the banks’ profitability, Return On Asset (ROA). The sample banks are banks that are listed in Kompas 100. The data is collected from the sample banks quarterly financial statements. The data analysis employed is the multiple regression, Chow test and Hausman test to determine the different impacts of Capital Adequacy Ratio (CAR), Net Interest Margin (NIM), Loan to Deposit Ratio (LDR), Operasional cost/ Operational revenue (BOPO), Non Perfoming Loan (NPL) and Size on the banks’ profitability. The result shows that NIM has a significant positif impact on the profitability. Meanwhile, BOPO and Size negatively affect the profitability. For the investors, the results could be used to value the banks in the market.
ANALISIS PENGARUH RASIO KEUANGAN TERHADAP RETURN SAHAM PERBANKAN PERIODE 2013-2017 Kurniawan, Andy; Sihombing, Pardomuan; Pramudena, Sri Marti
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 3, No 2 (2019)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v3i2.11860

Abstract

Penelitian ini bertujuan untuk menganalisa rasio keuangan terhadap return saham baik secara parsial maupun simultan pada perusahaan sub sektor perbankan yang terdaftar di Bursa Efek Indonesia pada tahun 2013-2017. Populasi dari penelitian ini adalah perusahaan sub sektor perbankan. Sampel diambil dengan menggunakan metode purposive sampling sehingga diperoleh 10 bank memenuhi syarat sebagai sampel. Penelitian ini menggunakan metode analisis regresi data panel dengan program Eviews 10, untuk mengetahui pengaruh variabel bebas yang terdiri dari LFR, CAR, ROA, NIM, NPL dan PBV terhadap return saham. Hasil penelitian ini menunjukkan bahwa secara parsial LFR dan NPL tidak memiliki pengaruh signifikan terhadap return saham. Secara parsial CAR, ROA, PBV berpengaruh positif dan signifikan terhadap return saham sedangkan NIM berpengaruh negatif dan signifikan terhadap return saham. Hasil penelitian ini menunjukkan bahwa LFR, CAR, ROA, NIM, NPL dan PBV secara simultan berpengaruh signifikan terhadap return saham.
ANALISIS PENGARUH PENERAPAN GCG, PENGUNGKAPAN CSR, UKURAN PERUSAHAAN, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN STUDI PADA PERUSAHAAN BUMN DI BURSA EFEK INDONESIA PERIODE 2013-2017 Putra, Rubby Prastya; Sihombing, Pardomuan; Novawiguna K, . .
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 5, No 1 (2021)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v5i1.11245

Abstract

Nilai perusahaan dapat menggambarkan kinerja perusahaan. Semakin tinggi nilai perusahaan semakin tinggi dan semakin besar kemakmuran yang akan diterima pemegang saham dalam hal ini pemerintah sebagai pemilik lebih dari 51% saham BUMN. Tujuan penelitian ini adalah menganalisis pengaruh penerapan Good Corporate Governance (GCG), pengungkapan (Corporate social responsibility) CSR, ukuran perusahaan, dan profitabilitas terhadap nilai perusahaan. Penelitian ini menggunakan metode kuantitatif. Penentuan sampel dilakukan dengan menggunakan metode purposive sampling, yaitu teknik sampling dengan menggunakan pertimbangan dan batasan tertentu sehingga sampel yang dipilih relevan dengan tujuan penelitian. Sampel yang diteliti sebanyak 19 perusahaan. Populasi dan Sampel penelitian yang digunakan dalam penelitian ini adalah BUMN yang terdaftar di Bursa Efek Indonesia Periode 2013-2017. Teknik analisis yang digunakan adalah dengan pendekatan Partial Least Squares Structural Equation Modeling (PLS-SEM). Hasil analisis menunjukkan bahwa penerapan GCC berpengaruh positif dan signifikan terhadap nilai perusahaan, pengungkapn CSR berpengaruh negatif dan signifikan terhadap nilai perusahaan, ukuran perusahaan berpengaruh posistif dan tidak signifikan terhadap nilai perusahaan dan profitabilitas berpengaruh positif dan signifikan terhadap nilai perusahaan.
Analysis of Financial Performance Impact to Expected Return on listed bank (Period 2009-2017) Zakchona, Elia; Sihombing, Pardomuan
Journal of Entrepreneurship, Management and Industry (JEMI) Vol 2, No 1 (2019): Januari - Maret 2019
Publisher : Program Studi Manajemen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36782/jemi.v2i1.1847

Abstract

This research aims to analyze the relationship between financial performance to expected return in bank sector listed on Indonesian stock exchange (BEI) in 2009 – 2017, by partial and simultaneous equation model. The research population was limited to banking sector and research’s sample was used to sampling based on the total of biggest assets from 11 banks. This research used panel data model with regression analysis on E-views 10 programme to gauge the impact of independent variables (Capital Adequacy Ratio, Non-Performing Loan, Net Interest Margin, Return on Assets, Loan to Deposit Ratio, Debt to Equity Ratio, and Price to Book Value) to the dependent variable (expected return). The results showed that CAR, NPL, NIM, ROA, DER, LDR, and PBV ratios have significant and positive impacts on expected return by simultaneous equation model. In partial equation model, CAR, NPL, NIM, and ROA ratios have not significant and have positive impacts on expected return. DER’s ratio has significant and positive impact on expected return. LDR and PBV ratios have significant and negative impacts on expected return.
The determinants of idiosyncratic volatility in Indonesia banking industries Amrie Firmansyah; Pardomuan Sihombing; Sri Yani Kusumastuti
Jurnal Keuangan dan Perbankan Vol 24, No 2 (2020): April 2020
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (629.949 KB) | DOI: 10.26905/jkdp.v24i2.3851

Abstract

This study aims to examine the determinants of idiosyncratic volatility. This study uses firm fundamentals, institutional ownership, interest rates as idiosyncratic volatility determinants. The firm fundamentals of this study are represented by firm size, profitability, operating performances, dividend policy, and price to earnings ratio. Institutional ownership represents the ownership of the company’s shares by financial companies. The interest rates are represented by 3-month bank deposit rates for one year. The research method uses a quantitative approach with secondary data. Hypothesis examining is conducted by panel data regression analysis. By using a purposive sampling method, the company selected is 24 banking sector companies with observation time from 2012 up to 2018. Thus, the total sample in this research amounted to 168 firm-year. The result of the study suggests that firm size, price-earnings ratio, dividend policy, profitability, and interest rates are negatively associated with idiosyncratic volatility. However, operating performance and institutional ownership are not associated with idiosyncratic volatility.JEL Classification: E43, G21, G32 How to Cite:Firmansyah, A., Sihombing, P., Kusumastuti, S. Y. (2020). The determinants of idiosyncratic volatility in Indonesia banking industries. Jurnal Keuangan dan Perbankan, 24(2), 175-188.DOI: https://doi.org/10.26905/jkdp.v24i2.3851
ANALISIS VALUASI NILAI WAJAR SAHAM PT. ADARO ENERGY TBK MENGGUNAKAN METODE FREE-CASH FLOW TO FIRM (FCFF) Ecryna Cyntia Hutapea; Tyara Pratiwi Poernomoputri; Pardomuan Sihombing
Journal of Applied Finance & Accounting Vol. 5 No. 2 (2013): Publish on June 2013
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/jafa.v5i2.796

Abstract

PT Adaro Energy Tbk, an Indonesian private company engaged in coal mines and became the largest thermal coal producers both in Indonesia, which also operates coal mines and have the single biggest in the southern hemisphere. Coal products PT Adaro Energy Tbk has medium levels of energy content, and assign its trademark with the name of the Envirocoal. PT Adaro Energy Tbk is officially listed on the Indonesia Stock Exchange (BEI) on July 16, 2008 and was recorded as the largest company in the history of the Stock Exchange for deals done in rupiah (whereas in the US $ is the currency of the latter), and an IPO 4th largest for the year 2008 in Asia (excluding Japan) with a stock offering as much 11.139331 billion shares. To assess the stock price of PT Adaro Energy Tbk in the market, the valuation of shares is needed, where the valuation of these shares will be known intrinsic value (fair price). The method used in this valuation is the Discounted Cash Flow method using the model of Free Cash Flow to Firm. Valuation results would be very useful to be used as the basis for making investment decisions to buy, hold or sell stock. Based on the calculation that stock valuations have been carried out, obtained the intrinsic value of PT Adaro Energy Tbk amounting to Rp 1,570 while the price of shares in PT Adaro Energy Tbk as at July 6, 2012 is $ 1,866, with the conclusion of the stock price of PT Adaro Energy Tbk undervalued or is below the market price.
DETERMINAN KINERJA PROFITABILITAS BANK (STUDI KASUS BANK YANG TERDAFTAR DI KOMPAS 100 – BEI TAHUN 2009 – 2012) Richo Dany Wijaya; Pardomuan Sihombing
Journal of Business Strategy and Execution Vol. 7 No. 2 (2015): Publish on June 2015
Publisher : Bina Nusantara University

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

Abstract

This study is aimed to test the impact of Capital Adequacy Ratio (CAR),  Net Interest Margin (NIM), Loan to Deposit Ratio (LDR), Operasional cost/ Operational revenue (BOPO) (BOPO), Non Perfoming Loan (NPL) and Size  on the banks’ profitability, Return On Asset (ROA). The sample banks are banks that are listed in Kompas 100. The data is collected from the sample banks quarterly financial statements. The data analysis employed is the multiple regression, Chow test and Hausman test to determine the different impacts of Capital Adequacy Ratio (CAR), Net Interest Margin (NIM), Loan to Deposit Ratio (LDR), Operasional cost/ Operational revenue (BOPO), Non Perfoming Loan (NPL) and Size on the banks’ profitability. The result shows that NIM has a significant positif impact on the profitability. Meanwhile, BOPO and Size negatively affect the profitability. For the investors, the results could be used to value the banks in the market.
ANALISIS KINERJA EMPAT STRATEGI DASAR OPSI MINYAK MENTAH WEST TEXAS INTERMEDIATE (WTI) Abitur Asianto; Pardomuan Sihombing; Sri Yani Kusumastuti
PROSIDING SEMINAR NASIONAL CENDEKIAWAN Prosiding Seminar Nasional Cendekiawan 2015 Buku II
Publisher : Lembaga Penelitian Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25105/semnas.v0i0.195

Abstract

Perdagangan opsi minyak mentah West Texas Intermediate (WTI) merupakan pasar derivatif yangmeningkat pesat sejak tahun 1997. Saat ini minyak mentah WTI sudah menjadi salah satuindikator ekonomi makro dunia. Penelitian ini bertujuan untuk menganalisis kinerja empat strategidasar opsi minyak mentah WTI. Analisis penelitian ini meliputi analisis deskripsi, kinerja ROI,probability of winning, ROA, dan Sharpe Index. Metodeologi penelitian adalah dengan melakukanuji coba perdagangan selama delapan periode perdagangan bulanan opsi beli dan jual minyakmentah WTI mulai Juli 2013 hingga Februari 2014 dengan posisi strike dari 1 strike hingga 12strike terhadap posisi At The Money. Hasil penelitian menunjukkan strategi opsi jual memilikiprobabilitas lebih baik daripada strategi beli opsi dan ROA opsi jual lebih baik daripada opsi beli.Sharpe Index per bulan pada portofolio opsi beli sebesar -1,83%, yang berarti bahwa portofolio initidak memenuhi persyaratan investasi jika diukur terhadap suku bunga acuan BI rate atau TheFED rate. Sementara itu, Sharpe Index per bulan pada portofolio opsi jual sebesar 1.12%, yangberarti bahwa portofolio ini memenuhi persyaratan investasi jika diukur terhadap suku bunga acuanBI rate atau The FED rate. Dengan demikian diketahui bahwa strategi opsi jual lebih baik daripadastrategi opsi beli.