PENGARUH PERUBAHAN SUKU BUNGA, KINERJA KEUANGAN, DAN KARAKTERISTIK BANK TERHADAP RETURN SAHAM

Gina Adhanunnisa, Agus Saur Utomo, Ishak Ishak

Abstract


Penelitian ini menganalisis hubungan perubahan suku bunga kebijakan, kinerja keuangan, dan karakteristik bank dengan return saham bank syariah yang tercatat di Bursa Efek Indonesia selama 2020–2025. Sampel ditetapkan dengan sampling jenuh dan terdiri atas Bank Aladin Syariah Tbk, Bank BTPN Syariah Tbk, Bank Syariah Indonesia Tbk, serta Bank Panin Dubai Syariah Tbk. Observasi dilakukan secara kuartalan dengan memanfaatkan data sekunder yang berasal dari publikasi Bursa Efek Indonesia, laporan keuangan bank, dan Bank Indonesia. Pengujian empiris menggunakan regresi data panel dengan suku bunga kebijakan yang diberi jeda satu periode. Hasil estimasi menunjukkan bahwa suku bunga kebijakan periode sebelumnya belum memiliki hubungan yang signifikan dengan return saham. ROA berpengaruh positif dan signifikan, sedangkan LAR dan DAR tidak menunjukkan signifikansi statistik. Sebaliknya, firm size berhubungan negatif dan signifikan dengan return saham. Pada cakupan sampel penelitian ini, indikator profitabilitas dan skala bank memberikan informasi yang relatif lebih kuat untuk menjelaskan variasi return dibandingkan suku bunga kebijakan yang dilag satu periode.


Keywords


Suku Bunga; Kinerja Keuangan; Karakteristik Bank; Return Saham; Bank Syariah

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References


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DOI: https://doi.org/10.31764/jabb.v7i2.41815

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