Hubungan Risiko, Kinerja, Kebijakan Dividen dan Nilai Perusahaan (Studi Empirik pada Industri Perbankan di Indonesia)

Bambang Sudiyatno, Elen Puspitasari, Moch Irsad


Abstract. This study is a quantitative research to examine the influence and relationship of risk, performance, dividend policy, and firm value. Data analysis was done by Multiple Regression and Logistic Regression method. The result shows that the Non Performance Loan (NPL) and Loan to Deposit Ratio (LDR) have a negative and significant influence to Bank Performance (ROA), while Net Interest Margin (NIM) has a positive and significant impact on Bank Performance (ROA). Other findings indicate that Bank Performance (ROA) has a positive effect and  significant to Price to Book Value (PBV), and banks that generate high ROA tend to divide Dividends.


Keywords: NPL; LDR; NIM; ROA; PBV; Dividend Policy.


Abstrak. Penelitian ini merupakan penelitian kuantitatif yang menguji pengaruh dan hubungan antara risiko, kinerja, kebijakan dividen, dan nilai perusahaan. Analisis data dilakukan dengan metode analisis Multiple Regression dan Logistic Regression. Hasil penelitian menunjukkan bahwa Non Performance Loan (NPL) dan Loan to Deposit Ratio (LDR) berpengaruh negatif dan signifikan terhadap Kinerja Bank (ROA), sedangkan Net Interest Margin (NIM) berpengaruh positif dan signifikan terhadap Kinerja Bank (ROA). Temuan lainnya menunjukkan bahwa Kinerja Bank (ROA) berpengaruh positif dan signifikan terhadap Price to Book Value (PBV), dan bank-bank yang menghasilkan ROA tinggi cenderung membagi Dividen.

 Kata Kunci: NPL; LDR;, NIM; ROA; PBV; Dividend Policy.


NPL; LDR;, NIM; ROA; PBV; Dividend Policy

Full Text:



Aduda J, and Gitonga J. 2011. “The Relationship Between Credit Risk Management and Profitability Among the Commercial Banks in Kenyaâ€. Journal of Modern Accounting and Auditing 7(9): 934-946.

Alshatti, Ali Sulieman. 2015. “The Effect of Credit Risk Management on Financial Performance of the Jordanian Commercial Banksâ€. Journal of Investment Management and Financial Innovation 12(1): 338-345.

Al-Khouri R. 2011. “Assessing the Risk and Performance of the GCC Banking Sectorâ€. International Research Journal of Finance and Economics - Issue 65: 72-81.

Amidu, Mohammed dan Joshua Abor. 2006. “Determinants of Dividend Payout Ratios in Ghanaâ€. The Journal of Risk Finance 7(2): 136-145.

Anna P.I. Vong, and Hoi Si Chan, 2009. “Determinants of Bank Profitability in Macaoâ€. Macao Monetary Research Bulletin.

Bank Indonesia. 2003. Peraturan Bank Indonesia No-.5/8/P.BI/2003 tentang Penerapan Manajemen Risiko. Jakarta.

Bank Indonesia. 2009. Peraturan Bank Indonesia No-.11/19/P.BI/2009 tentang Sertifikasi manajemen Risiko Bagi Pengurus dan Pejabat Bank Umum. Jakarta.

Bank Indonesia. 2009. Peraturan Bank Indonesia No- .11/25/P.BI/2009 tentang Penerapan Manajemen Risiko Bagi Bank Umum. Jakarta.

Boahene S.H, Samuel, J, D, and Agyei, K. 2012. “Credit Risk and Profitability of Selected Banks in Ghanaâ€. Research Journal of Finance and Accounting, 3(7): 6-14.

Bourke P. 1989. “Concentration and Other Determinants of Bank Profitability in Europe, North America, and Australiaâ€.Journal of Banking and Finance 13 (1): 65-7.

Brigham and Houston. 2015. “Fundamentals of Financial Managementâ€. ConciseEighthEdition,Printed in the United States of America.

Bulan, Larni, Narayanan Subramanian, and Lloyd Tanlu. 2007. “On The Timing of Dividend Initiationsâ€. Financial Management 36(4): 31-65.

Ceria Lisa. 2014. Pengaruh Penerapan Manajemen Risiko terhadap Profitabilitas. Skripsi. Padang: Universitas Negeri Padang.

Ejoh N.O;, Okpa I. B. & Egbe A.A. 2014. “The Impact of Credit and Liquidity Risk Management on the Profitability of Deposit Money Banks in Nigeriaâ€. International Journal of Economics, Commerce, and Management 2(9): 1-15.

Fama, Eugene F, dan Kenneth R, French. 2001. Disappearing Dividends: Changing "Firm Characteristics or Lower Propensity to Pay?â€. Journal of Financial Economics 60(1): 3-43.

Funso K.T;, Kolade, A.R, and Ojo, O.M. 2012. “Credit Risk and Commercial Bank’Performance in Nigeriaâ€. Australian Journal of Business and Management Research 2(2): 31-38.

Ghosh S. 2012. “ Foreign Banks in India: Liabilities or Assets?. Department of Economic Analysis and Policy, Reserve Bank of India, SBS Marg, Fort, Mumbai 400 001, India.

Jhingan M.L. 2010. “Ekonomi Pembangunan dan Perencanaan. Penerbit Rajawali Press.

Kithinji A.M. 2010. “Credit Risk Management and Profitability of Commercial Banks in Kenyaâ€. School of Business, University of Nairobi, Nairobi.

Kosmidou K;, Tanna, S;, and Pasiouras, F. 2005. “Determinants of Profitability of Domestic UK Commercial Banks: Panel Evidence from the Period 1995-2002â€.Working Paper.

Marangu K, and Jagongo A. 2014. “Price to Book Value Ratio and Financial Statement Variables (An Empirical Study of Companies Quoted At Nairobi Securities Exchange, Kenya). Global Journal of Commerce & Management Perspective 3 (6): 50-56.

Naceur S.B. 2003. “The Determinants of the Tunisian Banking Industry Profitability: panel evidanceâ€, Universite Libre de Tunis Working Papers.

Naceur S.B;, Goaied M, and Belanes A. 2005. “A Re-examination of Dividend Policy: A Dynamic Panel Data Analysisâ€. International Review of Finance.

Ngwu T.C. 2006. Bank Management, Owerri, Nigeria: Bon Publishers Ltd.

Oladele P.O;, Sulaimon, A.A, and Akeke, N.I. 2012. “Determinants Of Bank Performance In Nigeriaâ€.International Journal of Business and Management Tomorrow 2(2): 1-4.

Penza, Pietro, and Vipul K. Bansal. 2001. “Measuring Market Risk with Value at Riskâ€. Canada: John Wiley & Sons, Inc.

Raharjo P.G, and Hakim D.B. 2014. “The Determinant of Commercial Banks’, Interest Margin in Indonesia: An Analysis of Fixed Effect Panel Regression. International Journal of Economics and Financial Issues 4 (2): 295-308.

Rengasamy D. 2014. “Impact of Loan Deposit Ratio (LDR) on Profitability: Panel Evidence from Commercial Banks in Malaysiaâ€. Proceedings of the Third International Conference on Global Business, Economics, Finance and Social Sciences (GB14Mumbai Conference) Mumbai, India. 19-21 December 2014 ISBN: 978-1-941505-21-2 Paper ID: MF498.

Ross, Stephen A. 1977. “The determination of Financial Structureâ€: The Incentive-Signalling Approach. The Bell Journal of Economics 8(1): 23-40.

Sufian F. 2011. “Profitability of the Korean Banking Sector: Panel Evidence of Bank-Specific dan Macroeconomic Determinantsâ€. Journal of Economics and Management 7(1): 43-72.

Zulfikar, Taufik. 2014. “Pengaruh CAR, LDR, NPL, BOPO, dan NIM Terhadap Kinerja Profitabilitas (ROA) BPR di Indonesia.†Jurnal Keuangan 1(2).



  • There are currently no refbacks.

Comments on this article

View all comments

Jurnal Inspirasi Bisnis dan Manajemen is published by Lembaga Penelitian Universitas Swadaya Gunung Jati. This work is licensed under a Creative Commons Attribution-Sharealike 4.0.

View My Stats