Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects
<em>This study attempts to examine the effect of financial fundamentals information using CAMELS ratios and macroeconomics variables surrogated by interest rate, exchange rate, and inflation rate toward stock return. By employing panel data analysis (Pooled Least Squared Model), the results re...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Universitas Negeri Semarang
2016-06-01
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| Series: | JEJAK: Jurnal Ekonomi dan Kebijakan |
| Subjects: | |
| Online Access: | http://journal.unnes.ac.id/nju/index.php/jejak/article/view/7191 |
| _version_ | 1831518768146153472 |
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| author | Ridwan Nurazi Berto Usman |
| author_facet | Ridwan Nurazi Berto Usman |
| author_sort | Ridwan Nurazi |
| collection | DOAJ |
| description | <em>This study attempts to examine the effect of financial fundamentals information using CAMELS ratios and macroeconomics variables surrogated by interest rate, exchange rate, and inflation rate toward stock return. By employing panel data analysis (Pooled Least Squared Model), the results reveal that several financial ratios perform a bit contrary to the theory, in which the ratio of CAR shows positive sign but insignificantly contributes to stock returns. Also, the ratio of NPL does not affect the return. In fact, ROE and LDR positively and significantly contribute toward banks’ stock return. Meanwhile, NIM and BOPO show negative signs. The other macroeconomic variables, interest rate (IR), exchange rate (ER) and inflation rate (INF) are consistent with the a priori expectation, in which those variables negatively and significantly contribute to stock return of 16 banks, for the observation period from 2002 to 2011 in the Indonesian banking sector.</em> |
| first_indexed | 2024-12-13T10:55:45Z |
| format | Article |
| id | doaj.art-99ceb0f420aa45e298c40305b33977c4 |
| institution | Directory Open Access Journal |
| issn | 2460-5123 |
| language | English |
| last_indexed | 2024-12-13T10:55:45Z |
| publishDate | 2016-06-01 |
| publisher | Universitas Negeri Semarang |
| record_format | Article |
| series | JEJAK: Jurnal Ekonomi dan Kebijakan |
| spelling | doaj.art-99ceb0f420aa45e298c40305b33977c42022-12-21T23:49:35ZengUniversitas Negeri SemarangJEJAK: Jurnal Ekonomi dan Kebijakan2460-51232016-06-019112914410.15294/jejak.v9i1.71914871Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic EffectsRidwan Nurazi0Berto Usman1Department of Management, Faculty of Economics and Business University of Bengkulu,Department of Management, Faculty of Economics and Business University of Bengkulu,<em>This study attempts to examine the effect of financial fundamentals information using CAMELS ratios and macroeconomics variables surrogated by interest rate, exchange rate, and inflation rate toward stock return. By employing panel data analysis (Pooled Least Squared Model), the results reveal that several financial ratios perform a bit contrary to the theory, in which the ratio of CAR shows positive sign but insignificantly contributes to stock returns. Also, the ratio of NPL does not affect the return. In fact, ROE and LDR positively and significantly contribute toward banks’ stock return. Meanwhile, NIM and BOPO show negative signs. The other macroeconomic variables, interest rate (IR), exchange rate (ER) and inflation rate (INF) are consistent with the a priori expectation, in which those variables negatively and significantly contribute to stock return of 16 banks, for the observation period from 2002 to 2011 in the Indonesian banking sector.</em>http://journal.unnes.ac.id/nju/index.php/jejak/article/view/7191CAMELS, Interest rate, Exchange rate, Inflation, Bank stock return. |
| spellingShingle | Ridwan Nurazi Berto Usman Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects JEJAK: Jurnal Ekonomi dan Kebijakan CAMELS, Interest rate, Exchange rate, Inflation, Bank stock return. |
| title | Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects |
| title_full | Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects |
| title_fullStr | Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects |
| title_full_unstemmed | Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects |
| title_short | Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects |
| title_sort | bank stock returns in responding the contribution of fundamental and macroeconomic effects |
| topic | CAMELS, Interest rate, Exchange rate, Inflation, Bank stock return. |
| url | http://journal.unnes.ac.id/nju/index.php/jejak/article/view/7191 |
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