ABSTRAK Moch. Ranggy Radiansyah (056039), Pengaruh Non

ABSTRAK
Moch. Ranggy Radiansyah (056039), Pengaruh Non Performing
Loan dan Loan to Deposit Ratio Terhadap Harga Saham PT. Bank Negara
Indonesia (Persero) Tbk. (Periode Juni 2000 – Desember 2009), Dibimbing
oleh Prof.Dr.Dadang Sadeli, M. Si dan Maya Sari, SE, MM.
Pada umumnya kinerja keuangan perusahaan akan mempengaruhi
fluktuasi harga saham suatu perusahaan karena kinerja keuangan perusahaan
seringkali dijadikan tolak ukur pihak investor untuk asumsi menilai kondisi
perusahaan secara umum. Dalam penelitian ini, ukuran kinerja keuangan yang
digunakan dilihat dari sisi kualitas asset menggunakan pendekatan rasio Non
Performing Loan dan juga dari sisi likuiditas menggunakan pendekatan Loan to
Deposit Ratio. Penelitian ini bertujuan untuk mengetahui besarnya pengaruh Non
Performing Loan (NPL) dan Loan to Deposit Ratio (LDR) secara parsial dalam
mempengaruhi harga saham PT. Bank Negara Indonesia (persero) Tbk.
Metode penelitian yang digunakan adalah deskriptif verifikatif. Periode
pengamatan untuk NPL, LDR, dan harga saham dimulai sejak tahun 2000-2009.
Dalam menguji hipotesis yang telah dikemukakan, penulis menggunakan analisis
regresi berganda, koefisien determinasi, uji t dan analisis korelasi parsial.
Hasil penelitian menunjukkan bahwa NPL menunjukkan tren yang
menurun akan tetapi hamper rata-rata tiap semesternya berada di atas batas aman
menurut Bank Indonesia, LDR menunjukkan tren peningkatan akan tetapi selalu
berada di bawah tingkat LDR yang ideal, dan harga saham fluktuatif akan tetapi
karakternya kurang bagus dalam hal ini selalu berada di harga terendah
dibandingkan dengan perbankan BUMN lain di bursa saham.
Dari pengujian hasil hipotesis diperoleh kesimpulan bahwa tidak
terdapat pengaruh antara NPL dengan harga saham, dan tidak terdapat pengaruh
antara LDR dengan harga saham. Dengan demikian, hipotesis penelitian yang
menyatakan bahwa terdapat pengaruh NPL terhadap harga saham PT. Bank
Negara Indonesia (persero) Tbk tidak dapat diterima. Begitu juga dengan hipotesis
penelitian yang menyatakan bahwa terdapat pengaruh LDR terhadap harga saham
PT. Bank Negara Indonesia (Persero) Tbk tidak dapat diterima.
Kata kunci : Non Performing Loan, Loan to Deposit Ratio, Harga Saham
ABSTRACT
Moch. Ranggy Radiansyah (056039), The Influence of Non
Performing Loan and Loan to Deposit Ratio Toward Stock Price of PT. Bank
Negara Indonesia (Persero) Tbk. (Period June 2000 - December 2009),
Supervised by Prof.Dr.Dadang Sadeli, M. Si and Maya Sari, SE, MM.
Generally, the company's financial performance will affect a company's
stock price fluctuations due to the company's financial performance is often used
as a benchmark for investors to assumpt the condition of the company in general.
In this research, the measures of financial performances that were used are in term
of asset quality using the approach Non-Performing Loan ratio and also in term
of liquidity using the approach of Loan to Deposit Ratio. This research aims to
determine the influence of Non-Performing Loan (NPL) and Loan to Deposit
Ratio (LDR) partially in affecting the stock price of PT. Bank Negara Indonesia
(Persero) Tbk.
The research method which was used is descriptive verification. The
observation period for NPL, LDR, and stock prices is from June 2000 until
December 2009. In testing research hypothesis, the author used multiple
regression analysis, coefficient of determination, t test and partial correlation
analysis.
The results showed that the NPL showed a declining trend but almost
every semester the NPL average is above the safe limit according to Bank
Indonesia’s regulation, LDR showed an increasing trend but always under the
ideal level of LDR, and stock prices was fluctuative but the character is less good
in this case was always the lowest price compared with other state-owned banks in
the stock market.
From the results of hypothesis testing, it indicated that the NPL did not
influence the stock price, and the LDR did not influence the stock price. Thus,
research hypothesis stating that there is influence of NPL toward the stock price of
PT. Bank Negara Indonesia (Persero) Tbk could not be accepted. So also with the
research hypothesis stating that there is influence of LDR toward the stock price
of PT. Bank Negara Indonesia (Persero) could not be accepted.
Keywords: Non Performing Loan, Loan to Deposit Ratio, Stock Price