Determining Firm Value in the Indonesian Banking Sub Sector

This study aims to find the most appropriate model for analysing the effect of financial performance, dividend policy, interest rates and the rupiah exchange rate on firm value. The research sample includes the banking sub-sector companies listed on the IDX in 2013-2019. The research method used is purposive sampling to analyse the panel data. The variables used in this study are the company value as measured by Price to Book Value (PBV), financial performance is measured by Return on Assets (ROA), dividend policy is measured by Dividend Pay-out Ratio (DPR), interest rate is measured by BI interest rate, and the rupiah exchange rate is measured by the middle rate. The results show that ROA and exchange rate affect firm value. The appropriate model used in this study is the random effect model.

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Determining Firm Value in the Indonesian Banking Sub Sector

10.31219/osf.io/qm62a ◽

2021 ◽

Author(s):

Henny Medyawati ◽

Muhamad Yunanto

Keyword(s):

Exchange Rate ◽

Interest Rate ◽

Financial Performance ◽

Interest Rates ◽

Firm Value ◽

Dividend Policy ◽

Random Effect ◽

Random Effect Model ◽

Company Value ◽

Effect Model

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Pengaruh Suku Bunga Acuan BI, Nilai Tukar Rupiah dan Inflasi terhadap Non-Performing Loan Sektor Usaha yang Dibiayai Bank Umum Konvensional di Indonesia

Jurnal Manajemen Bisnis dan Kewirausahaan ◽

10.24912/jmbk.v5i6.15025 ◽

2021 ◽

Vol 5 (6) ◽

pp. 588

Author(s):

Andy Sucipto ◽

Carunia Mulya Firdausy

Keyword(s):

Exchange Rate ◽

Interest Rate ◽

Manufacturing Sector ◽

Random Effect ◽

Random Effect Model ◽

Retail Trade ◽

Coefficient Of Determination ◽

Effect Model ◽

Manufacturing Sectors ◽

The Interest Rate

The purpose of this study was to determine the effect of interest rate, exchange rate, and inflation on the Non-Performing Loans of manufacturing sectors that were financed by Conventional Commercial Banks in Indonesia. The sample used in this study consisted of 8 business sectors, namely mining, manufacturing, wholesale and retail trade, accommodation, transportation & warehousing, finance, property, electricity, gas, and water. This study used a panel data regression analysis method with a random effect model (REM) approach. The results showed that the interest rate and inflation had no significant effects on the NPL of the manufacturing sector understudied, while the exchange rate had a significant effect on the NPL. However, the coefficient of determination was found to be 36.11 percent. This indicates that other variables affect the NPL of manufacturing sectors financed by the conventional bank in Indonesia. Tujuan penelitian ini adalah untuk mengetahui pengaruh suku bunga, nilai tukar dan inflasi terhadap Non-Performing Loan sektor manufaktur yang dibiayai oleh Bank Umum Konvensional di Indonesia. Sampel yang digunakan dalam penelitian ini terdiri dari 8 sektor usaha yaitu pertambangan, manufaktur, perdagangan grosir dan eceran, akomodasi, transportasi & pergudangan, keuangan, properti, listrik, gas dan air. Penelitian ini menggunakan metode analisis regresi data panel dengan pendekatan random effect model (REM). Hasil penelitian menunjukkan bahwa suku bunga dan inflasi tidak berpengaruh signifikan terhadap NPL sektor manufaktur yang diteliti, sedangkan nilai tukar berpengaruh signifikan terhadap NPL. Namun, koefisien determinasi diperoleh sebesar 36,11 persen. Hal ini menunjukkan bahwa terdapat variabel lain yang mempengaruhi NPL sektor manufaktur yang dibiayai oleh bank konvensional di Indonesia.

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Analisis Pengaruh Kepemilikan Blockholder, Kepemilikan Manajerial, Kepemilikan Institusional, dan Komite Audit terhadap Nilai Perusahaan

INDONESIAN JOURNAL OF ACCOUNTING AND GOVERNANCE ◽

10.36766/ijag.v2i1.10 ◽

2018 ◽

Vol 2 (1) ◽

pp. 96-121

Author(s):

Iwan Wirawardhana ◽

Meco Sitardja

Keyword(s):

Firm Value ◽

Audit Committee ◽

Stock Exchange ◽

Random Effect ◽

Random Effect Model ◽

Institutional Ownership ◽

Managerial Ownership ◽

Estimation Model ◽

Effect Model ◽

Positive Effect

The aim of this study is to analyse the effect of Blockholder Ownership, Managerial Ownership,Institutional Ownership, and Audit Committee towards Firm Value. The background of this research isthe agency theory and ownership theory. The population in this study are 46 property companies listedon the Indonesia Stock Exchange (IDX) for the period 2012-2016. By using purposive samplingtechnique, 35 companies are qualified as data samples. This research uses the random effect model asthe estimation model and multiple regression as the method of analysis. The results of this study showsthat Institutional Ownership has a positive effect on Firm Value. Meanwhile, Blockholder Ownership,Managerial Ownership, and Audit Committee have no effect on Firm Value. Moreover, the F-testimplies that the variables, blockholder ownership, managerial ownership, institutional ownership, andaudit committee, simultaneously influence firm value.

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Kinerja Keuangan Daerah dan Kesejahteraan Rakyat di Era Desentralisasi Fiskal (Studi Empiris Pada Kabupaten/Kota Provinsi Sulawesi Selatan TA 2008-2012) (Local Financial Performance and The Social Welfare on Districts and Municipals of South Sulawesi on 2008-2012: Panel Regression with Random Effect Model (REM))

SSRN Electronic Journal ◽

10.2139/ssrn.2834678 ◽

2016 ◽

Author(s):

Azwar Iskandar ◽

Achmat Subekan

Keyword(s):

Social Welfare ◽

Financial Performance ◽

Random Effect ◽

Random Effect Model ◽

Panel Regression ◽

South Sulawesi ◽

Effect Model ◽

The Social

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PENGARUH VARIABEL MAKROEKONOMI TERHADAP PROFITABILITAS BANK KONVENSIONAL BUKU 4 DI INDONESIA

Jurnal Kajian Ekonomi dan Pembangunan ◽

10.24036/jkep.v3i1.11541 ◽

2021 ◽

Vol 3 (1) ◽

pp. 65

Author(s):

Sandi Fitra Yusuf ◽

Mike Triani

Keyword(s):

Economic Growth ◽

Interest Rate ◽

Random Effect ◽

Random Effect Model ◽

Bank Profitability ◽

Macroeconomic Variables ◽

Section Data ◽

Insignificant Effect ◽

Effect Model ◽

Selection Test

This study explains the extent of the influence of macroeconomic variables on the profitability of BUKU 4 banks in Indonesia. The macroeconomic variables consist of economic growth (X1), inflation (X2), Bank Indonesia Interest Rate (BI Rate) (X3, and Profitability is measured by the ROA (Return) ratio. On Asset). This study combines cross section data of 7 banks with time series from 2010-2019, with the Panel Regression method with the Random Effect model selection test. The results show that: (1) Economic growth has a positive and significant effect on bank profitability. conventional BUKU 4 in Indonesia, (2) Inflation has a positive and insignificant effect on the profitability of conventional BUKU 4 banks in Indonesia, (3) the Bank Indonesia Interest Rate (BI Rate) has a positive and insignificant effect on the profitability of conventional BUKU 4 banks in Indonesia.

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PENGARUH STRUKTUR DAN KONSENTRASI KEPEMILIKAN, MODEL BANK PADA KINERJA PERBANKAN

Jurnal Benefita ◽

10.22216/jbe.v5i2.5315 ◽

2020 ◽

Vol 5 (2) ◽

pp. 162

Author(s):

Nadya Dianitasari ◽

Hersugondo Hersugondo

Keyword(s):

Financial Performance ◽

Random Effect ◽

Random Effect Model ◽

State Ownership ◽

Ownership Concentration ◽

Return On Assets ◽

Purposive Sampling ◽

Effect Model ◽

Analysis Technique ◽

Model Bank

This study aims to analyze the effect of banks model, the different types of ownership, and ownership concentration on bank financial performance. State ownership, domestic ownership and foreign ownersip were used as the ownership indicators and Return On Asset (ROA) ratio were used as the proxied of financial performance. The Population that was used in this research consisted of all conventional and islamic commercial banks which is listed in Directory of Indonesian Banking 2018 and published the financial statements during 2014-2019. After passed the purposive sampling method there were 94 banks obtained as samples. The data analysis technique used is descriptive statistic, classical assumption test and panel regression test with random effect model. The result of this research showed that banks model and state ownership have positively significant impact on ROA and foreign ownership has negatively significant impact while domestic ownership and ownership concentration have insignificantly impact on bank financial performance Penelitian ini memiliki tujuan yaitu untuk menganalisis pengaruh struktur kepemilikan bank yang terdiri dari kepemilikan pemerintah, domestik dan asing, lalu model bank dan konsentrasi kepemilikan terhadap kinerja keuangan perbankan. Kinerja keuangan tersebut diukur dengan rasio profitabilitas yang diproksikan dengan Return On Assets (ROA). Populasi penelitian yang digunakan adalah bank umum syariah dan konvensional di Indonesia yang terdapat pada daftar Direktori Perbankan tahun 2018. Penelitian ini menggunakan sejumlah 94 sampel dengan metode purposive sampling. Metode analisis yang digunakan pada penelitian ini adalah statistik deskriptif, uji asumsi klasik dan regresi data panel dengan model efek random. Hasil yang didapat pada penelitian ini menunjukkan bahwa model bank dan kepemilikan pemerintah berpengaruh positif signifikan terhadap ROA dan kepemilikan asing berpengaruh negatif signifikan, sedangkan kepemilikan domestik dan konsentrasi kepemilikan tidak berpengaruh signifikan terhadap kinerja bank.

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PENGARUH VARIABEL MAKROEKONOMI TERHADAP DANA PIHAK KETIGA BANK UMUM SYARIAH DI INDONESIA

Jurnal Muara Ilmu Ekonomi dan Bisnis ◽

10.24912/jmieb.v4i1.7299 ◽

2020 ◽

Vol 4 (1) ◽

pp. 164

Author(s):

Muhammad Dzulfaqori Jatnika

Keyword(s):

Interest Rates ◽

Commercial Banks ◽

Random Effect ◽

Random Effect Model ◽

Least Square ◽

Third Party ◽

Ordinary Least Square ◽

Effect Model ◽

Per Capita ◽

The Right

Tujuan penelitian ini adalah menganalisis pengaruh faktor makroekonomi yaitu nilai tukar, inflasi, suku bunga, dan GDP per kapita terhadap dana pihak ketiga di bank umum Syariah. Penelitian ini merupakan penelitian kuantitatif dengan data sekunder yang berupa data panel. Teknik analisis yang digunakan adalah metode analisis linier berganda Ordinary Least Square (OLS). Hasil uji Hausman menunjukan model yang tepat dalam penelitian ini adalah random effect model. Semua variabel signifikan, variabel inflasi dan nilai tukar memiliki pengaruh positif sedangkan variabel suku bunga dan GDP per kapita memiliki pengaruh yang negatif terhadap dana pihak ketiga di bank umum Syariah. Hasil penelitian ini memiliki implikasi bagi para pelaku usaha perbankan untuk menentukan waktu yang tepat dalam menarik dan menyalurkan dana pihak ketiga dari masyarakat. Dan dapat menjadi acuan untuk mengeluarkan kebijakan terkait bisnisnya. Dan bagi peneliti selanjutnya dapat menjadi acuan untuk mengembangkan kembali penelitian berikutnya. Pada penelitian selanjutnya diharapkan dapat menambah variabel-variabel terkait lainnya selain variabel yang telah diteliti dalam penelitian ini. Kebaruan dalam penelitian ini adalah tambahan variabel yang mempengaruhi dana pihak ketiga dan juga tambahan sampel bank umum Syariah sehingga diharapkan penelitian ini lebih mendalam daripada penelitian sebelumnya. The purpose of this study is to analyze the influence of macroeconomic factors, namely the exchange rate, inflation, interest rates, and GDP per capita on third party funds in Islamic commercial banks. This research is a quantitative study with secondary data in the form of panel data. The analysis technique used is the Ordinary Least Square (OLS) multiple linear analysis method. The Hausman test results showed the right model in this study was the random effect model. All variables are significant, inflation and exchange rates have a positive effect while interest rates and GDP per capita have a negative effect on third-party funds in Islamic commercial banks. The results of this study have implications for banking businesses to determine the right time in attracting and channelling third party funds from the public. And can be a reference for issuing policies related to business. And for further researchers can be a reference to develop further research. In the next research, it is expected to be able to add other related variables besides the variables that have been examined in this study. The novelty in this study is the addition of variables that affect third party funds and also additional samples of Islamic commercial banks so that this research is expected to be more in-depth than previous research.

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Effect of Dividend on Stock Price: A Case of Fuel and Power Industries in Bangladesh

International Journal of Accounting and Financial Reporting ◽

10.5296/ijafr.v9i2.14715 ◽

2019 ◽

Vol 9 (2) ◽

pp. 87

Author(s):

Mir Md Nazrul Islam

Keyword(s):

Stock Price ◽

Dividend Policy ◽

Random Effect ◽

Random Effect Model ◽

Fixed Effect Model ◽

Fixed Effect ◽

Return On Equity ◽

Share Prices ◽

Earnings Per Share ◽

Effect Model

Dividend policy is an extensively researched topic in the arena of investments but still it remains an enigmatic that whether Dividend Policy affects the Stock Prices or not. The consequences of researches conducted in different stock markets are different. In Bangladesh, capital market investment is very essential and significant for the growth and market capitalization of domestic industry, trade and commerce. In current years Bangladesh had faced many precarious situations in its stock market. The Stock price reactions to the declaration of dividend of the fuel and power industry of Bangladesh are empirically examined. This study examines stock price reactions of listed dividend paying fuel and power industries in Dhaka stock exchange, Bangladesh for period of 11 years from of 2008-2018. This study will help us to make effective dividend decisions and effective implementation of dividend policies. In this study, Fixed Effect Model along with Random Effect Model have been used to estimate results. Both Models are implemented on panel data for explaining the association between dividend payments and share prices while controlling logarithm value of Profit after Tax, Earnings per Share and Return on Equity. The research is accompanied with a view to find whether the dividend announcement convey any evidence to the market that results a stock price volatility for adjusting the dividend announcement information while controlling the variables like Profit After Tax Earnings, Per Share and Return on Equity. The study also tested both the Models and found Random Effect Model is more significant than Fixed Effect Model. The result documented on the Random Effect Model shows that there are significant relationship with Retention Ratio, dividend per share and Return on Equity. In addition, Profit after tax shows the negative significant association and Earning per Shares insignificant with the share prices in Bangladesh Fuel and Power sector.

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Effects of Capital Structure on Financial Performance of Insurance Companies in Nepal

International Journal of Accounting and Financial Reporting ◽

10.5296/ijafr.v10i3.17674 ◽

2020 ◽

Vol 10 (3) ◽

pp. 35

Author(s):

Bishnu Prasad Bhattarai

Keyword(s):

Capital Structure ◽

Financial Performance ◽

Annual Report ◽

Random Effect ◽

Random Effect Model ◽

Fixed Effect Model ◽

Insurance Companies ◽

Return On Assets ◽

Total Debt ◽

Effect Model

The study has examined the effects of capital structure on financial performance of insurance companies in Nepal. Data were collected from the annual report of the respective insurance companies' web site. The panel data of 14 Nepalese insurance companies from 2007/08 to 2015/16, leading to a total of 126 observations. The data were analyzed using pooled OLS model, random effect model and fixed effect model. The study has been return on assets as dependent variable whereas total debt ratio, equity to total assets, leverage, firm size, liquidity ratio and assets tangibility are independent variables. The result concluded that equity to total assets, leverage, and assets tangibility have effects the financial performance in Nepalese insurance companies' cases.

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pengaruh ukuran perusahaan, profitabilitas, solvabilitas dan aerning variability terhadap kebijakan dividen perusahaan manufaktur di daftar efek syariah (DES) periode 2012-2017

Jurnal Ekonomi Syariah Teori dan Terapan ◽

10.20473/vol6iss201910pp2126-2142 ◽

2020 ◽

Vol 6 (10) ◽

pp. 2126

Author(s):

Nanda Shelia ◽

Ari Prasetyo

Keyword(s):

Firm Size ◽

Dividend Policy ◽

Random Effect ◽

Random Effect Model ◽

Manufacturing Companies ◽

Estimation Model ◽

Statistical Tool ◽

Effect Model ◽

Analysis Technique ◽

Manufacturing Company

This study aims to determine the effect of firm size, profitability, solvency and earnings variability to dividend policy of Manufacturing Companies in Daftar aefek Syariah (DES) period 2012-2017.This research uses quantitative approach with panel data regression analysis technique. Statistical tool used is software Stata (Statistics and Data) 14. Population in this research is a manufacturing company in Daftar Efek Syariah (DES). The sample used in this study are 19 manufacturing companies in the Daftar Efek Syariah (DES). The observation period of the study starts from 2012 to 2017. Based on the best estimation model, Random Effect Model (REM) shows that firm size, profitability, solvency and earning variability variables influence simultaneously and significantly to dividend policy of manufacturing company in Daftar Efek Syariah (DES). Partially variable of firm size and earning variability have positive and significant impact, solvability variable have a negative and significant impact, and profitability variable have an insignificant impact to dividend policy of manufacturing company in Daftar Efek Syariah (DES) period 2012-2017.Keywords: Dividend Policy, Company Size, Profitability, Solvency, Earning Variability

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