SBI Rate Research Articles

DETERMINAN NET INTEREST MARGIN PERBANKAN NASIONAL: APLIKASI MODEL REGRESI DATA PANEL FIXED EFFECT

The study aims to prove empirically the determinants of the performance of the net interest margin (NIM) ratio of banks listed on the Indonesia Stock Exchange (IDX) during the period 2005-2015 using the fixed effect panel data regression method with eleven banks selected as research samples. The results of the study found that the NPL, LDR, ROA, SBI, and Exchange Rate ratio significantly affected the NIM ratio performance. From the variables that significantly influence, the exchange rate variable is the most dominant variable, while the NPL ratio variable is the variable with the smallest influence. All independent variables, which consist of; CAR, NPL, LDR, BOPO, ROA, SBI, inflation, and exchange rates simultaneously affected the ratio of banking NIMs listed on the Indonesia Stock Exchange (IDX) during the period 2005-2015 significantly. Individually, the bank with the most sensitivity to changes in the NIM ratio is Bank International Indonesia Tbk (BII), while the least sensitive is Bank Victoria Indonesia Tbk (BVI)

PENGARUH KURS RUPIAH DAN SUKU BUNGA SBI TERHADAP INDEKS HARGA SAHAM GABUNGAN ( STUDI KASUS INDEKS HARGA SAHAM GABUNGAN PADA BEI )

Investment growth of a country will be affected by the country's economic growth. The better the economy of a country, the better the prosperity of the population. Decrease in corporate profits will certainly affect the interest of investors to buy shares of the company concerned. In general, this will lead to a decline in the composite stock price index. The purpose of this research is to find out the influence of Exchange Rate, and SBI rate Against Composite Stock Price Index. Data were analyzed using descriptive statistics, classical assumption test and multiple linear regression. The results showed that: 0,000, sig. smaller than 0.05, then the conclusion a significant difference between exchange rate (X1), and the SBI rate (X2) simultaneously influence on the stock price index (Y). X1 = 0.103, sig. greater than 0.05, no significant difference between exchange rate (X1) simultaneously to the composite stock price index (Y). X2 = 0.000, sig. greater than 0.05, a significant difference between the SBI rate (X2) simultaneously to the composite stock price index (Y).

DAMPAK KEBIJAKAN MONETER TERHADAP STABILITAS RUPIAH

This research aimed to study the impact of monetary policy on the rupiah stability. Variables used were the interest rate of Bank Indonesia Certificate (SBI), the rate of inflation (IHK), the exchange rate of rupiah against the US dollar (Kurs) and the money supply in the narrow sense (M1). Data used were of quarterly time series data of Bank Indonesia and Central Bureau of Statistic, covering 2002.1-2010.4. The analysis was undertaken by using a vector autoregression model (VAR), through the Impulse Response Function (IRF) and Forecast error variance decomposition (FEVD). The research results showed that in the sort run shocks of SBI decreased the inflation rate, and in the long run the inflation rate was constant. The exchange rate tended to be appreciated in the short run and long run although in a small magnitude. Money supply decreased with a minor fluctuation. Initially, the money supply shocks increased the interest rate of SBI, but decreased in the long run. The rate of inflation fluctuated in the sort run but it was constant in the long run. The exchange rate was depreciated both in the sort run and in the long run.

ANALISIS PENGARUH FAKTOR EKONOMI MAKRO TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR YANG GO PUBLIC DI BURSA EFEK INDONESIA

Stock investment is different from saving investment, deposits or foreign exchange, because stock investment always encounters many investors with their various profit expectations. Each stock investor has always to monitor the latest stock assurance development and observe the stock flow in the stock markets carefully and thoroughly, because they influence the stock prices.Many factors influence the stock prices, including the seller or buyer psychological factor, company condition, interest rate, rupiah exchange rate against foreign currency, economic condition, government policies, inflation rate, the country’s political and safety condition, and many others. This study analyzes the influence of those factors on the stock prices and is entitled “An Analysis of the influence of Macroeconomic Factors on Stock Prices in Go Public Manufacture Companies in Indonesia Stock Exchange “.The population are 151 manufacturing companies, 116 of which were analyzed in 3 years (2005 – 2007). The result shows that macroeconomic (inflation, SBI rates and rate of exchange) variables have significantly influenced the stock prices.

PEMODELAN INDEKS HARGA SAHAM GABUNGAN MENGGUNAKAN REGRESI SPLINE MULTIVARIABEL

The Composite Stock Price Index (CSPI) is a composite index of all types of shares listed on the stock exchange and their movements indicate the conditions occurring in the stock market. CSPI movement is an important indicator for investors to determine whether they will sell, hold, or buy a stock. One of the factors that influence the movement of CSPI is Inflation (X1), Exchange Rate (X2) and SBI rate (X3). This study aims to obtain the best CSPI model using a multivariable nonparametric spline regression approach. The approach is done by nonparametric regression because the regression curve obtained does not show a certain relationship pattern. Spline is very dependent on the order and location of the knot point. The best spline model is the model that has the minimum MSE (Mean Square Error) value. In this study, the best spline regression model is when X1 is 4 order, X2 is 2 order and X3 is 2 order. The number of knots on X1 is 1 knot at 8.22, X2 is 2 knots at 13066.82 and 13781.75 While X3 is 2 knots at 6.6 and 6.67 with value of MSE equal to 6686.85.Keywords: Composite Stock Price Index, Multivariable Spline Regression, MSE

ANALISIS PEMBIAYAAN DAN KREDIT SEKTOR KONSTRUKSI DI INDONESIA: STUDI PERBANKAN SYARIAH DAN KONVENSIONAL

The construction sector is an important sector in supporting development projects in Indonesia. The development of the construction sector requires the role of the banking sector to provide access of capital through credit or financing. This study aims to analyze the factors affecting construction financing and credit in Islamic and Conventional Banking in Indonesia and among regions in Indonesia. This study uses Vector Autoregression/ Vector Error Correction Model (VAR/VECM) with monthly data from 2006 until 2014 and panel data analysis with yearly data from 2009 until 2013. The study results that the factors affecting financing and credit on Construction Sector in Indonesia are Third Party Funds (DPK), Wholesale price index, fee of SBIS (interest rate of SBI), percentage of Non Performing Financing (Non Performing Loan), Consumer Price Index and equivalent rate of financing (Interest rate of Credit). Furthermore, the factors affecting financing and credit on Construction Sector among regions in Indonesia are Third Party Funds, Gross Domestic Regional Product of Construction Sector, Gross Domestic Regional Product per Capita and percentage of Non Performing Financing (Non Perfoming Loan). Keywords: Construction, Credit, Financing, Panel data, VAR/VECM

ANALISIS PEMBIAYAAN DAN KREDIT SEKTOR KONSTRUKSI DI INDONESIA: STUDI PERBANKAN SYARIAH DAN KONVENSIONAL

The construction sector is an important sector in supporting development projects in Indonesia. The development of the construction sector requires the role of the banking sector to provide access of capital through credit or financing. This study aims to analyze the factors affecting construction financing and credit in Islamic and Conventional Banking in Indonesia and among regions in Indonesia. This study uses Vector Autoregression/ Vector Error Correction Model (VAR/VECM) with monthly data from 2006 until 2014 and panel data analysis with yearly data from 2009 until 2013. The study results that the factors affecting financing and credit on Construction Sector in Indonesia are Third Party Funds (DPK), Wholesale price index, fee of SBIS (interest rate of SBI), percentage of Non Performing Financing (Non Performing Loan), Consumer Price Index and equivalent rate of financing (Interest rate of Credit). Furthermore, the factors affecting financing and credit on Construction Sector among regions in Indonesia are Third Party Funds, Gross Domestic Regional Product of Construction Sector, Gross Domestic Regional Product per Capita and percentage of Non Performing Financing (Non Perfoming Loan). Keywords: Construction, Credit, Financing, Panel data, VAR/VECM

ECONOMIC VALUE ADDED (EVA) SEBAGAI PENGUKURAN KINERJA KEUANGAN PADA INDUSTRI TELEKOMUNIKASI SUATU ANALISIS EMPIRIK

The company's performance has always been measured based on financial ratios for a certain period. Measurement based on financial ratios is very dependent on the accounting treatment used in the preparation of corporate financial statements. The purpose of a company that is only oriented to the achievement of profits as big as when it is no longer relevant today. Therefore the responsibility of the company not only to the shareholders, but to all stakeholders. Performance appraisal of a company is very important that the assessment process must be in line with the effectiveness and efficiency in achieving competitive advantage in the business world. Since the last ten years has developed a new approach in assessing the financial performance of companies known as Economic Value Added (EVA). EVA model comes from the concept of capital cost (cost of capital), which is the risk faced by the company in making investments. The concept of Economic Value Added (EVA) as an alternative to performance measurement based on the value (EVA) is an approach in assessing the performance of the company by paying fair attention to the expectations of funders or investors. EVA is the profit left behind after deducting the capital cost (cost of capital) invested to generate the profit. Positive EVA values can be interpreted that the company's management has created value (creating value). Conversely, if the value of negative EVA means that there is no economic value added into the company. The goal to be achieved by the authors in this study is To determine the financial performance of Telecommunications Company in review of Economic Value Edded (EVA). And To know Which Telecommunication Company that provides better economic value.This research used qualitative analysis. The qualitative analysis method is used to interpret and analyze the result of EVA calculation, that is to measure the added value of the company by calculating all capital cost, either the capital contribution from the shareholder or from the loan, or the risk faced by the company in making the investment. To measure the company's performance required financial report data in the form of income statement and balance sheet, JCI, stock price and SBI rate data. Data Collection Procedure is the data of financial statements of companies from the telecommunications industry listed on the Indonesia Stock Exchange in the period 2005-2009, obtained from www.idx.co.id. Monthly monthly stock price index (IHSG) monthly from 2005-2009, interest rate of 12 month time deposit from 2005-2009 and stock price data used since 2005.The results show that only PT Telekomunikasi Indonesia Tbk alone can generate positive EVA, while PT Indosat Tbk and PT Bakrie Telecom Tbk generate negative EVA. Negative EVA values are caused by several factors, among others: because of the significant increase in fuel prices, followed by inflation and rising interest rates affecting people's purchasing power, rising capital costs and operational costs of both companies, the impact of the 2008 global financial crisis that affected on declining stock value and the impact of tariff war between telecommunication companies where telephone tariffs are lower and the decline in long distance call rates affects the telecommunication company's operating revenues.

Pengaruh SBI, SBIS, Inflasi dan Nilai Tukar Rupiah Terhadap Transaksi Pasar Uang Antar Bank Syariah

This research aims to determine how much influence SBI, SBIS, Inflation and Exchange Rate to Interbank Islamic Money Market from January 2010 to June 2015. This quantitative research using the analysis of Vector Auto Regressive helped by Eviews version 8. From the results conducted at alpha 5%, the results of VAR analysis Decomposition Variance test showed that the variables SBI, SBIS, Inflation and Exchange Rate affect the Interbank Islamic Money Market. In the short term or the beginning of the observation period SBIS has the most dominant influence among other variables againts Interbank Islamic Money Market.While in the long term or the end of the observation period inflation has the most dominant influence on the Interbank Islamic Money Market. Granger causality test results indicate that all variables have a causal relationship to one another, meaning that each variable has a 2-way relationships with other variables. While the impulse response function test results showed that the Interbank Islamic Money Market, SBI responds very well balanced, responds SBIS with a negative response and more balanced, responds to variable inflation and exchange rate are very balanced. Interbank Islamic money market is more influenced by the instruments in conventional banks namely SBI.

Pengaruh Profitabilitas, Investasi Aktiva Lancar, Perputaran Persediaan, dan Perputaran Piutang terhadap Tingkat Pendanaan Jangka Pendek Perusahaan Retail yang Listing di BEI Periode 2004-2008

To overcome the complexity of competition in the market of retail industry, retail company should make an optimal financing decision. This research focus on short term debt financing of Retail company which is listing in Indonesia Stock Exchange during period (of time) 2004-2008. At that moment, the SBI rates showed progressively trend and degradation of customer purchasing power because of increasing price of goods and competitor of other retail company. Based on the empirical fact, this research aims to examine the influences of profitability, current asset investment, inventory turnover, and receivable turnover to Short Term Debt Financing of retail companies. The technique analyze used multiple linear regression. The result of regression test concluded that simultaneously profitability, current asset investment, inventory turnover, and receivable turnover had significantly influences for short-term debt financing. Also in partially test, profitability, current asset investment, inventory turnover, and receivable turnover also had significantly influences for short-term debt financing

ANALISIS PENGARUH NILAI TUKAR RUPIAH PER DOLLAR AS, TINGKAT SUKU BUNGA SBI, DAN INFLASI INDEKS HARGA KONSUMEN (IHK) TERHADAP IHSG DI BEI PERIODE 2003 – 2008

Financial statement is an important thing for a company. The financial statement of the company can indicate the company's condition and the investors always wait it for setting their investments. The purpose of this survey is to observe whether Rupiah exchange rate per US Dollars, Interest rate of SBI and Inflation of Consumer Price Index (CPI) have influence Composite Stock Price Index at Jakarta Stock Exchange either through partial and also simultan. The result shows that variable of Interest rate of SBI and Inflation of Consumer Price Index (CPI) significantly influence on the Composite Stock Price Index. If it is analyzed simultaneously, three variables have significant influences on the Composite Stock Price Index.

MEMBANDINGKAN RISIKO SISTEMATIS MENGGUNAKAN CAPM-GARCH DAN CAPM-EGARCH

In making stock investments, investors usually pay attention to the rate of return and risk of the stock investment. To calculate risk using capital asset pricing model (CAPM), GARCH, and EGARCH. The data used in this study is secondary data in the form of daily closing price (daily close price), JII price index and monthly SBI rate. All data were processed using matlab 13. The research sample consisted of 6 flagship shares for the period of 2013-2017 ie ADHI, SMGR, UNTR, BSDE, ICBP, KLBF. The conclusion of the research is the beta of each stock including aggressive beta because beta greater than 1. For return CAPM GARACH and CAPM EGARCH obtained Kalbe Farma stock (KLBF) has small beta and big return means GARCH and EGARCH model equally Can predict that stock KLBF shares the least risk and large returns among the six stocks.

ANALISIS PENGARUH JUMLAH UANG BEREDAR, SUKU BUNGA SBI, NILAI TUKAR TERHADAP TINGKAT INFLASI

Inflation is one of the effects of a prolonged economic crisis that hit thecountry. Inflation is a situation where there are price rises sharply (Absolute)which continues over a period of time. The purpose of this study analyzes themonetary policy conducted by Bank Indonesia and its influence as the moneysupply, interest rates and exchange rates SBI (IDR / USD) of the inflation rate.The method used is multiple linear regression based on test results indicateavariable effect on money supply, interest rate of SBI, and the exchange rate(Rp / USD) in 2004 to 2009. By using eviews 4.0 software obtained from theresults of research following the money supply and exchange rate (Rp/USD)had no significant effect on inflation while the interest rate (SBI) have asignificant effect on inflation.

ANALISIS PENGARUH JUMLAH UANG BEREDAR (M1), SUKU BUNGA SBI, NILAI TUKAR SUKU BUNGA DEPOSITO TERHADAP TINGKAT INFLASI

Inflation is one of the effects of a prolonged economic crisis that hit the country. Inflation is a situation where there is an increase in general prices which continuesover the long term. The purpose of this study was to determine the effect of the money supply, interrst rate, deposit interest rate and exchange rate (Rp/USD) of the inflation in 2006 – 2011.6 The result of this study suges that the suppy of money have no significant positive effect on inflation. SBI rate have positive and significant effect on inflation. Deposit have rate and no significant negative effect on inflation. Exchange Rate have no significant negative effect on inflation.Keywords : Money Supply, Interest Rates, Deposit Interest Rates, Exchange Rate (IDR /USD), Multiple Linear Regression, Inflation

ANALISIS PENGARUH ERUBAHAN TINGKAT SUKU BUNGA SBI DAN PERUBAHAN KURS US$ TERHADAP HARGA PASAR SAHAM SEMEN GRESIK, TBK PERIODE JANUARI 2002 – DESEMBER 2006

<p class="Pendahuluan">Investment climate has begun to rise since a few years ago. Stock price fluctuations keep stable and move to the positive position. Stock price fluctuation affected by two factors, internal factors and external factors. Internal factors consist of company’s cash flow, dividend and investment behaviour. External factors consist of monetary policy, exchange rate, interest volatility, globalization, companies’ competition, and technology. This research, try to find out the effects of SBI rate and exchanged rate (USD/Rp) to PT. Semen Gresik’s stock price.</p><p class="Pendahuluan"> </p><p class="Pendahuluan">Keywords : Investment, stock price, SBI’s rate, and Exchanged rate.</p>

PEMILIHAN SAHAM YANG OPTIMAL MENGGUNAKAN CAPITAL ASSET PRICING MODEL (CAPM)

Optimal portfolio is the basis for investors to invest in stock. Capital Asset Pricing Model (CAPM) is a method to determine the value of the risk and return of a company stock. This research used are secondary data from the closing price of the monthly stock price (monthly closing price), Stock Price Index (SPI), and the monthly SBI rate. Samples taken as many as 41 stocks in LQ45 February-July 2015 on the Indonesian Stock Exchange (ISE). The study period during 5 year from October 2010 - October 2015. The result of analysis shows that the optimal portfolio consists of 18 companie . Th e average return of the optimal portfolio is higher than the average risk-free return (SBI rate) and the average market return. This proves that investing in stocks is more profitable than a risk-free investment. https://doi.org/10.26905/jmdk.v5i1.1315

Analisis Netralitas Uang Terhadap Siklus Bisnis Riil di Indonesia Periode 2011. M1- 2013. M12

The phenomenon of the neutrality of money in various countries invited economists determines its existence. Neutrality ofmoney is being debated throughout history until this time in economics. The debate became two mahzab economic is mahzabof Classic and schools of Keynes. The findings of the neutrality of money by the camp Classic, bringing new discourse ineconomics, especially monetary economics. However, the flow Keynes against the neutrality of money is also a new discoursein the field of monetary economics. The aim of the study to determine the existence of neutrality of money against economicgrowth in Indonesia, besides of simulation models goal of this study to determine the relationship of exchange rates, inflationand 1-month SBI rate to economic growth in Indonesia. The analysis method used is Ordinary Least Square (OLS) with theestablishment of model simulation and analysis of descriptive narrative. Results clause analysis with Ordinary Least Squaremethod (OLS) on model simulations indicate that the neutrality of money is not applicable in Indonesia, as well as simulationmodels in line with the 1-month SBI interest rate and the nominal exchange rate have a significant effect. While inflation stillshows the same dominant relationship. Descriptive narrative analysis gives an overview of the non-neutrality of money inIndonesia, so there needs to be an analysis or monitoring on the growth of the money supply M2.

HE IMPACT OF INFLATION, CERTIFICATE OF BANK INDONESIA, AND EXCHANGE RATE OF IDR/USD ON THE INDONESIA COMPOSITE STOCK PRICE INDEX

This research is done with the aim to know whether some macroeconomic variables, which are inflation rate, certificate of Bank Indonesia (SBI) rate, and exchange rate of IDR/USD have an impact on the movement of the composite stock price index (IHSG) at the Indonesia stock exchange (BEI) partially and simultaneously in the period of 2006–2014. The research population is inflation rate, SBI rate, and exchange rate of IDR/USD. Data analysis in this research is multiple regression by using time series monthly data of 2006–2014. Research results show that partially inflation rate gives positive significant impact on IHSG, SBI rate has negative significant impact on IHSG, and exchange rate of IDR/USD has positive significant impact on IHSG. Simultaneously it shows that inflation, SBI rate, and exchange rate of IDR/USD have an impact on IHSG at BEI to the period of year 2006 – 2014. Those variables affect IHSG by 58,74%, while other variables affect IHSG by 41,26%. That information can be used by investors to make decision on their investment.Keywords: inflation, SBI, exchange rate, IHSG, BEI.

ANALISIS RIGIDITAS LENDING RATE PERBANKAN DI INDONESIA PERIODE JANUARI2001 - JUNI2004

The research aim's to know the influence of interest rate ofSBI, exchange rate, total bank lending, supply of funds and commercial bank amount to rigidly bank lending rate in Indonesian period of January 2001 until June 2004. The research use secondary data by character of time series. The research methodology used a partial adjustment model that rigidly bank lending rate are influence by all independent variable such interest rate of SBI, exchange rate, and total bank lending, supply of fund and commercial bank amount in banking sector. The empirical results that rigidly bank lending rate are influenced by all independent variable are collectively such interest rate of SBI, exchange rate, and total bank lending, supply of fund and commercial bank amount in banking sector. But as partial, rigidly bank-lending rate are influenced by an interest rate of SBI, exchange rate, total bank lending and supply of funds and commercial bank amount, which don't have an effect to rigidly bank lending rate.The result that is suitable with the theory, where monetary instrument (interest rate of SBI) can be used to influence bank-lending rate as process transmission mechanism mon­etary policy by price channel approach. Adjustment coefficient is equal to 0,5484 which meaning 54,84 % represents the difference between bank lending rate actual with bank lending rate that desired which fulfilled to be reached in one period, where speed of adjustment bank lending rate in response change of independent variable equal to 5 months 27 day, with mean lag independent variable equal to 1,1812867 months.

ANALISIS FAKTOR INTERNAL DAN EKSTERNAL BANK YANG MEMPENGARUHI PROFITABILITAS BANK UMUM DI INDONESIA

The purpose of this research is to analyze the influence of internal factors of banks consisting of Capital Adequacy Ratio (CAR), Non-Performing Loans (NPLs), Operating Expenses Operating Income (BOPO), Loan to Deposit Ratio (LDR), and external factors of banks consisting of the value exchange rate of rupiah against the U.S. dollar, interest rate (SBI 1 month), and the inflation rate to Return On Asset (ROA) of the general bank. It used the secondary data from Indonesia Economic and Financial Statistic (SEKI) which published by Bank Indonesia monthly. The samples took from ROA of general bank as series, CAR, NPLs, BOPO, LDR, inflation rate, exchange rate rupiah to US $, and SBI rate with period 2007-2010. The result shows, external factors of banks and CAR do not significantly influence to the ROA of general Bank, while internal factors are significantly influence to ROA general bank. As the simultaneous, the seven variables have positive significant influence to the ROA general bank it can be proofed with F value > F table (7.574 > 2.589). And all of the independence variables have had influenced for 52.9 percent to the ROA general bank.