ANALYSIS OF NON-PERFORMING LOANS AND RETURN ON EQUITY ON STOCK RETURNS THROUGH CAPITAL ADEQUACY RATIO
Abstrak
This study aims to determine the direct and indirect effects of Non Performing Loan, Return On Equity and Capital Adequacy Ratio as mediation on Stock Returns. Increasing stock assets that support economic progress. Investors need to assess the shares that will be invested to get the desired return. The banking sector is one of them. in this study because of differences in opinion between researchers so that researchers are now adding mediating variables and using path analysis assisted by smart pls 4. The data used in this study are secondary data from banking companies listed on the Indonesia Stock Exchange for the period 2022. The data used are financial statements for banking companies listed on the Indonesia stock exchange. In this study, an analytical tool with smart pls 4 was used. The results of this study found that NPL has a negative and insignificant effect on stock returns, ROE has a positive and significant effect on stock returns, CAR has a negative and insignificant effect on stock returns. NPL on stock returns with CAR as mediation has a positive and insignificant effect. ROE on stock returns through CAR as mediation has a positive and insignificant effect.Referensi
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Devi, N. N. S. J. P., & Artini, L. G. S. (2019). Pengaruh Roe, Der, Per, Dan Nilai Tukar Terhadap Return Saham [The Effect of Roe, Der, Per, and Exchange Rate on Stock Returns]. E-Jurnal Manajemen Universitas Udayana, 8(7), 4183. https://doi.org/10.24843/ejmunud.2019.v08.i07.p07
Dewi, P. E. D. M. (2017). Pengaruh Rasio Likuiditas, Profitabilitas, Solvabilitas, Aktivitas Dan Penilaian Pasar Terhadap Return Saham [The Effect of Liquidity, Profitability, Solvency, Activity and Market Valuation Ratios on Stock Returns]. Jurnal Ilmiah Akuntansi, 1(2), 109–132. https://doi.org/10.23887/jia.v1i2.9988
Dianny, H. (2019). Pengaruh Rasio Kecukupan Modal,Rasio Kredit Bermasalah dan Likuiditas Terhadap Profitabilitas Sektor Perbankan yang Terdaftar di BEI Periode 2013-2017 [The Effect of Capital Adequacy Ratio, Non-Performing Loan Ratio and Liquidity on the Profitability of the Banking Sector Listed on the IDX for the Period 2013-2017]. E-Library Unikom, 15–45. https://elibrary.unikom.ac.id/id/eprint/1859/8/UNIKOM_HanifahDiannyKusumah_15.BAB 2.pdf
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Indiarti, R., & Utomo, Y. P. (2023). Analysis of the Determinants of the Level Profitability of Commercial Banks in Indonesia 2017-2021. Proceeding Medan International Conference Economics and Business, 1(January), 865–875.
Iskandar, Y. (2020). The Influence of Capital Adequacy Ratio, Loan-To-Deposit Ratio, and Net Interest Margin on Stock Return At Commercial Banks in Indonesia. Jurnal Aplikasi Manajemen, 18(3), 533–538. https://doi.org/10.21776/ub.jam.2020.018.03.13
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Kurniawan, A. (2017). Pengaruh Kinerja Keuangan Terhadap Return Saham Dengan Menjadikan Kebijakan Dividen Sebagai Variabel sebagai variabel moderate [The Effect of Financial Performance on Stock Returns By Making Dividend Policy as a Variable as a moderate variable]. Akuisi, 13(1), 1–14.
Ningrum, S. A. (2021). ANALISIS PENGARUH BOPO, NPL DAN LDR TERHADAP RETURN SAHAM MELALUI ROA PADA SEKTOR PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015-2020. [ANALYSIS OF THE EFFECT OF BOPO, NPL AND LDR ON STOCK RETURNS THROUGH ROA IN THE BANKING SECTOR LISTED ON THE INDONESIAN STOCK EXCHANGE IN 2015-2020]. Jurnal Sosial Dan Teknologi ( SOSTECH), 1(10), 218–233.
Nurhayati, D., & Safri. (2023). Pengaruh Capital Adequacy Ratio, Non Performing Loan, Dan Biaya Operasional Pendapatan Operasional Terhadap Return on Assets Pada Perusahaan Sub Sektor Perbankan Bank Bumn Yang Tercatat Di Bei.[ The Effect of Capital Adequacy Ratio, Non Performing Loan, and Operating Cost of Operating Income on Return on Assets in Bumn Bank Banking Sub-Sector Companies Listed on Indonesia Stock Exchange] Jurnal Ilmiah Mahasiswa Akuntansi, 3(2), 1–23.
Pratiwi, P. W., Kuntari, Y., & Indarti, I. (2022). Analisis Current Ratio, Debt to Equity Ratio, dan Return on Equity pada Perusahaan Farmasi yang Terdaftar di BEI Tahun 2018-2020 [Analysis of Current Ratio, Debt to Equity Ratio, and Return on Equity in Pharmaceutical Companies Listed on the IDX in 2018-2020]. Jurnal Ilmiah Aset, 24(1), 49–55. https://doi.org/10.37470/1.24.1.200
Putri, I. G. A. A. P. P., & Wirajaya, I. G. A. (2023). Kecukupan Modal , Profitabilitas , Ukuran Perusahaan , dan Return Saham Perusahaan Perbankan di BEI Capital Adequacy , Profitability , Company Size , and Return of Banking Company Shares on the IDX PENDAHULUAN Return saham adalah imbal hasil dari investasi [Capital Adequacy, Profitability, Company Size, and Return of Banking Company Shares on the IDX INTRODUCTION Stock return is the return on investment]. E-Jurnal Akuntansi, 33(7), 1861–1872. https://doi.org/10.24843/EJA.2023.v33.i07.p13
Riyadi, S., Iqbal, M., & Lauren, N. (2015). STRATEGI PENGELOLAAN NON PERFORMING LOAN BANK UMUM YANG GO PUBLIC [NON-PERFORMING LOAN MANAGEMENT STRATEGY PERFORMING LOANS OF COMMERCIAL BANKS THAT GO PUBLIC]. Jurnal Dinamika Manajemen []. 6(1), 84–96. http://jdm.unnes.ac.id
Soemarsono, A. A., & Sofianti, U. D. (2021). Perspektif Hukum Mengenai Penggunaan Securities Crowdfunding pada Masa Pemulihan Ekonomi Akibat Pandemi [Legal Perspective on the Use of Securities Crowdfunding during the Economic Recovery Period due to the Pandemic]. Jurnal Hukum Lex Generalis, 2(8), 607–626. https://doi.org/10.56370/jhlg.v2i8.103
Sulaeman, M., Kusnandar, H., Fahmi, Gunawan, G. G., Widyaningrum, M., & Kasetyaningsih, S. W. (2018). Pengaruh Debt To Equity Ratio Dan Non Performing Loan Terhadap Return Saham Emiten Bursa Efek Indonesia Subsektor Perbankan [The Effect of Debt To Equity Ratio and Non Performing Loan on Stock Returns of Issuers of the Indonesia Stock Exchange Banking Subsector]. Jurnal Ilmiah Manajemen Dan Bisnis, Vol 19 No. 1, 2018, 21-31, 19(1), 21–31. doi: https://doi.org/10.30596/jimb.v19i1.1730
Wiratno, A., Kurniasari, W., & Yusuf, M. (2018). Pengaruh Inflasi Dan Suku Bunga Terhadap Return Saham Dengan Profitabilitas Sebagai Variabel Intervening Di Perbankan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2013-2015 [The Effect of Inflation and Interest Rates on Stock Returns with Profitability as an Intervening Variable in Banks Listed on the Indonesia Stock Exchange in 2013-2015]. Journal of Accounting Science, 2(1), 67–90. https://doi.org/10.21070/jas.v2i1.1216
Afni, N., Muspa, M., & Suwandaru, R. (2023). Pengaruh Kinerja Keuangan Terhadap Return Saham Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia [The Effect of Financial Performance on Stock Returns in Manufacturing Companies Listed on the Indonesia Stock Exchange]. Jurnal Sains Manajemen Nitro, 2(1), 34–45. https://doi.org/10.56858/jsmn.v2i1.135
Ali, S. A. F. (2018). Analisis Kinerja Pada Perusahaan PT Surya Puzulindo Makassar [Performance Analysis at PT Surya Puzulindo Company Makassar].
Alwi, A. A., Zulti, N., Rosmanidar, E., & Usdeldi. (2023). Analisis CAR, NPF BOPO dan FDR terhadap Profitabilitas pada Bank Syariah di Indonesia [Analysis of CAR, NPF BOPO and FDR on Profitability in Islamic Banks in Indonesia] : Systematic Literature Review. Jurnal Cakrawala Ilmiah Vol.2, No.6, 2(6), 2547–2570.
Devi, N. N. S. J. P., & Artini, L. G. S. (2019). Pengaruh Roe, Der, Per, Dan Nilai Tukar Terhadap Return Saham [The Effect of Roe, Der, Per, and Exchange Rate on Stock Returns]. E-Jurnal Manajemen Universitas Udayana, 8(7), 4183. https://doi.org/10.24843/ejmunud.2019.v08.i07.p07
Dewi, P. E. D. M. (2017). Pengaruh Rasio Likuiditas, Profitabilitas, Solvabilitas, Aktivitas Dan Penilaian Pasar Terhadap Return Saham [The Effect of Liquidity, Profitability, Solvency, Activity and Market Valuation Ratios on Stock Returns]. Jurnal Ilmiah Akuntansi, 1(2), 109–132. https://doi.org/10.23887/jia.v1i2.9988
Dianny, H. (2019). Pengaruh Rasio Kecukupan Modal,Rasio Kredit Bermasalah dan Likuiditas Terhadap Profitabilitas Sektor Perbankan yang Terdaftar di BEI Periode 2013-2017 [The Effect of Capital Adequacy Ratio, Non-Performing Loan Ratio and Liquidity on the Profitability of the Banking Sector Listed on the IDX for the Period 2013-2017]. E-Library Unikom, 15–45. https://elibrary.unikom.ac.id/id/eprint/1859/8/UNIKOM_HanifahDiannyKusumah_15.BAB 2.pdf
Diningrat, A. S. (2023). Pengaruh Return On Assets Dan Return On Equity Terhadap Capital Adequacy Ratio Di PT . Bank Tabungan Pensiunan Nasional Tbk [The Effect of Return On Assets And Return On Equity On Capital Adequacy Ratio At PT. Bank Tabungan Pensiunan Nasional Tbk] . Jurnal Nuansa : Publikasi Ilmu Manajemen Dan Ekonomi Syariah Vol. 1, No. 4 Desember 2023 e-ISSN: 3021-8691; p-ISSN: 3024-8388; Hal 51-61 DOI: Https://Doi.Org/10.61132/Nuansa.V1i4.340 Pengaruh, 1(4).
Evrina, E., Rozi, A., Mariana, R., & Budianto, A. (2023). Pengaruh Rasio Profitabilitas Terhadap Harga Saham Pada Perusahaan Sub Sektor Industri Tekstil Dan Garmen Terdaftar Go Publik Di Bursa Efek Indonesia Periode 2018-2022 [The Effect of Profitability Ratios on Share Prices in Textile and Garment Industry Sub-Sector Companies Listed Go Public on the Indonesia Stock Exchange for the Period 2018-2022.]. Jurnal Maneksi, 12(2), 425–431. https://doi.org/10.31959/jm.v12i2.1567
Herlambang, G., & Kurniawati, L. (2022). Pengaruh Fundamental Perusahaan Manufaktur Sektor Industri Barang Konsumsi Terhadap Return Saham. [The Influence of Fundamentals of Manufacturing Companies in the Consumer Goods Industry Sector on Stock Returns]. Snhrp, April, 529–542.
Indiarti, R., & Utomo, Y. P. (2023). Analysis of the Determinants of the Level Profitability of Commercial Banks in Indonesia 2017-2021. Proceeding Medan International Conference Economics and Business, 1(January), 865–875.
Iskandar, Y. (2020). The Influence of Capital Adequacy Ratio, Loan-To-Deposit Ratio, and Net Interest Margin on Stock Return At Commercial Banks in Indonesia. Jurnal Aplikasi Manajemen, 18(3), 533–538. https://doi.org/10.21776/ub.jam.2020.018.03.13
Ismaulina, Wulansari, A., & Safira, M. (2020). Capital Adequacy Ratio ( Car ) Capital Adequacy Ratio ( Car ) and Influencing Factors in Mandiri Syariah Bank. I-FINANCE: A Reaserch Journal on Islamic Finance, 06(02), 168–184. http//jurnal.radenfatah.ac.id/index.php/i-finance
Kurniawan, A. (2017). Pengaruh Kinerja Keuangan Terhadap Return Saham Dengan Menjadikan Kebijakan Dividen Sebagai Variabel sebagai variabel moderate [The Effect of Financial Performance on Stock Returns By Making Dividend Policy as a Variable as a moderate variable]. Akuisi, 13(1), 1–14.
Ningrum, S. A. (2021). ANALISIS PENGARUH BOPO, NPL DAN LDR TERHADAP RETURN SAHAM MELALUI ROA PADA SEKTOR PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015-2020. [ANALYSIS OF THE EFFECT OF BOPO, NPL AND LDR ON STOCK RETURNS THROUGH ROA IN THE BANKING SECTOR LISTED ON THE INDONESIAN STOCK EXCHANGE IN 2015-2020]. Jurnal Sosial Dan Teknologi ( SOSTECH), 1(10), 218–233.
Nurhayati, D., & Safri. (2023). Pengaruh Capital Adequacy Ratio, Non Performing Loan, Dan Biaya Operasional Pendapatan Operasional Terhadap Return on Assets Pada Perusahaan Sub Sektor Perbankan Bank Bumn Yang Tercatat Di Bei.[ The Effect of Capital Adequacy Ratio, Non Performing Loan, and Operating Cost of Operating Income on Return on Assets in Bumn Bank Banking Sub-Sector Companies Listed on Indonesia Stock Exchange] Jurnal Ilmiah Mahasiswa Akuntansi, 3(2), 1–23.
Pratiwi, P. W., Kuntari, Y., & Indarti, I. (2022). Analisis Current Ratio, Debt to Equity Ratio, dan Return on Equity pada Perusahaan Farmasi yang Terdaftar di BEI Tahun 2018-2020 [Analysis of Current Ratio, Debt to Equity Ratio, and Return on Equity in Pharmaceutical Companies Listed on the IDX in 2018-2020]. Jurnal Ilmiah Aset, 24(1), 49–55. https://doi.org/10.37470/1.24.1.200
Putri, I. G. A. A. P. P., & Wirajaya, I. G. A. (2023). Kecukupan Modal , Profitabilitas , Ukuran Perusahaan , dan Return Saham Perusahaan Perbankan di BEI Capital Adequacy , Profitability , Company Size , and Return of Banking Company Shares on the IDX PENDAHULUAN Return saham adalah imbal hasil dari investasi [Capital Adequacy, Profitability, Company Size, and Return of Banking Company Shares on the IDX INTRODUCTION Stock return is the return on investment]. E-Jurnal Akuntansi, 33(7), 1861–1872. https://doi.org/10.24843/EJA.2023.v33.i07.p13
Riyadi, S., Iqbal, M., & Lauren, N. (2015). STRATEGI PENGELOLAAN NON PERFORMING LOAN BANK UMUM YANG GO PUBLIC [NON-PERFORMING LOAN MANAGEMENT STRATEGY PERFORMING LOANS OF COMMERCIAL BANKS THAT GO PUBLIC]. Jurnal Dinamika Manajemen []. 6(1), 84–96. http://jdm.unnes.ac.id
Soemarsono, A. A., & Sofianti, U. D. (2021). Perspektif Hukum Mengenai Penggunaan Securities Crowdfunding pada Masa Pemulihan Ekonomi Akibat Pandemi [Legal Perspective on the Use of Securities Crowdfunding during the Economic Recovery Period due to the Pandemic]. Jurnal Hukum Lex Generalis, 2(8), 607–626. https://doi.org/10.56370/jhlg.v2i8.103
Sulaeman, M., Kusnandar, H., Fahmi, Gunawan, G. G., Widyaningrum, M., & Kasetyaningsih, S. W. (2018). Pengaruh Debt To Equity Ratio Dan Non Performing Loan Terhadap Return Saham Emiten Bursa Efek Indonesia Subsektor Perbankan [The Effect of Debt To Equity Ratio and Non Performing Loan on Stock Returns of Issuers of the Indonesia Stock Exchange Banking Subsector]. Jurnal Ilmiah Manajemen Dan Bisnis, Vol 19 No. 1, 2018, 21-31, 19(1), 21–31. doi: https://doi.org/10.30596/jimb.v19i1.1730
Wiratno, A., Kurniasari, W., & Yusuf, M. (2018). Pengaruh Inflasi Dan Suku Bunga Terhadap Return Saham Dengan Profitabilitas Sebagai Variabel Intervening Di Perbankan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2013-2015 [The Effect of Inflation and Interest Rates on Stock Returns with Profitability as an Intervening Variable in Banks Listed on the Indonesia Stock Exchange in 2013-2015]. Journal of Accounting Science, 2(1), 67–90. https://doi.org/10.21070/jas.v2i1.1216
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