PENGARUH KINERJA FINANSIAL DAN NON-FINANSIAL TERHADAP TINGKAT PENGEMBALIAN SAHAM SEKTOR PERBANKAN DI IDX

Christy Fitry Tani, Elvis Sumanti

Abstract


This study aims to examine whether financial and non-financial performance has an influence on stock returns of banking companies. The sample in this study is banking companies in Indonesia for the 2018-2019. The financial performance of banking companies uses a measure index called the Bank Performance Score, while for non-financial performance uses a measurement index called the Bank Service Score. The Bank Performance Score based on indicators for assessing the soundness of commercial banks issued by the Financial Services Authority which is proxied using the variables of Non-Performing Loan, Current Ratio, Return on Assets, Net Interest Margin and Capital Adequacy Ratio. Bank Service Score proxied using the variables of service quality, innovation and technology and employee commitment. This study also uses firm size, growth in gross domestic product and leverage as control variables. By using the Common Effect/Ordinary Least Square model in multiple regression for 84 observations of banking companies in Indonesia in the 2018-2019 period, it was found that each the Bank Performance Score and Bank Service Score had a significant positive effect on the company's stock returns. Where the index value of the Bank Performance Score and Bank Service Score is good, the company's stock returns will also be better. From the results of this study, it was found that the Bank Performance Score and Bank Service Score indexes can be a measure of financial and non-financial performance of companies that can be used by investors in making investment decisions. Furthermore, Bank Performance Score and Bank Service Score also have a joint-effect that has a significant positive effect on stock returns of banking companies. The results of this study it was found that financial and non-financial performance together became relevant information in measuring firm value as a basis for investors to make investment decisions

Keywords


financial performance, non-financial performance, banking sector, stock returns

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