PENGARUH NET INTEREST MARGIN, LOAN TO DEPOSIT RATIO, DAN NON PERFORMING LOAN TERHADAP NILAI PERUSAHAAN PADA BANK UMUM KONVENSIONAL YANG TERDAFTAR DI BEI PERIODE 2021–2024

ALFIN LAZUARDY NUR, . (2026) PENGARUH NET INTEREST MARGIN, LOAN TO DEPOSIT RATIO, DAN NON PERFORMING LOAN TERHADAP NILAI PERUSAHAAN PADA BANK UMUM KONVENSIONAL YANG TERDAFTAR DI BEI PERIODE 2021–2024. Sarjana thesis, UNIVERSITAS NEGERI JAKARTA.

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Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh Net Interest Margin (NIM), Loan to Deposit Ratio (LDR), dan Non Performing Loan (NPL) terhadap nilai perusahaan pada bank umum konvensional yang terdaftar di Bursa Efek Indonesia periode 2021–2024 dengan menggunakan pendekatan Signaling Theory, Asset Liability Management (ALMA), teori Manajemen Risiko, dan Limited Attention Theory. Nilai perusahaan diproksikan menggunakan Price to Book Value (PBV) sebagai pengukuran utama serta Tobin’s Q sebagai uji ketahanan untuk memastikan konsistensi hasil. Penelitian ini menggunakan data sekunder yang diperoleh dari laporan keuangan tahunan dengan jumlah sampel sebanyak 43 bank dan total 172 observasi dalam bentuk data panel. Metode analisis yang digunakan adalah regresi data panel dengan pendekatan Fixed Effect Model (FEM), serta penerapan Cluster Robust Standard Errors (CRSE) untuk mengatasi permasalahan heteroskedastisitas dan autokorelasi, dengan penyesuaian data melalui winsorisasi dan transformasi logaritma pada variabel tertentu. Hasil penelitian memperlihatkan bahwa Net Interest Margin (NIM) dan Loan to Deposit Ratio (LDR) tidak berpengaruh signifikan terhadap nilai perusahaan, yang mengindikasikan bahwa kedua indikator tersebut belum menjadi pertimbangan utama investor dalam menilai perusahaan perbankan. Sebaliknya, Non Performing Loan (NPL) berpengaruh negatif dan signifikan terhadap nilai perusahaan, yang memperlihatkan bahwa peningkatan risiko kredit dapat menurunkan kepercayaan investor dan berdampak pada penurunan nilai perusahaan. Variabel kontrol ukuran perusahaan tidak memperlihatkan pengaruh yang signifikan, dan hasil uji ketahanan memperlihatkan temuan yang konsisten sehingga penelitian ini dinilai robust. Penelitian ini diharapkan dapat memberikan kontribusi bagi pengembangan literatur serta menjadi referensi bagi investor, manajemen perbankan, dan regulator dalam memahami faktor-faktor yang mempengaruhi nilai perusahaan. ***** This study aims to examine the effect of Net Interest Margin (NIM), Loan to Deposit Ratio (LDR), and Non-Performing Loan (NPL) on the firm value of conventional commercial banks listed on the Indonesia Stock Exchange during the 2021–2024 period by employing the perspectives of Signaling Theory, Asset Liability Management (ALMA), Risk Management Theory, and Limited Attention Theory. Firm value is proxied by Price to Book Value (PBV) as the primary measurement, while Tobin’s Q is used as a robustness test to ensure the consistency of the findings. This study employs secondary data obtained from annual financial reports, consisting of 43 banks with a total of 172 panel data observations. The data were analyzed using panel data regression with the Fixed Effect Model (FEM). In addition, Cluster-Robust Standard Errors (CRSE) were applied to address heteroskedasticity and autocorrelation issues, while data adjustments were performed through winsorization and logarithmic transformation of selected variables. The findings indicate that Net Interest Margin (NIM) and Loan to Deposit Ratio (LDR) have no significant effect on firm value, suggesting that these indicators are not the primary considerations for investors in evaluating banking firms. In contrast, Non-Performing Loan (NPL) has a significant negative effect on firm value, indicating that an increase in credit risk reduces investor confidence and consequently lowers firm value. The control variable, firm size, does not have a significant effect, and the robustness test confirms that the results are consistent, indicating that the findings are robust. This study is expected to contribute to the development of the literature and serve as a reference for investors, bank management, and regulators in understanding the factors influencing firm value.

Item Type:	Thesis (Sarjana)
Additional Information:	1). Dr. M. Edo Suryawan Siregar, S.E., M.B.A; 2). Destria Kurnianti, S.E., M.Sc.
Subjects:	Manajemen > Manajemen , Business
Divisions:	FE > S1 Manajemen
Depositing User:	Alfin Lazuardy Nur .
Date Deposited:	04 Aug 2026 06:53
Last Modified:	04 Aug 2026 06:53
URI:	http://repository.unj.ac.id/id/eprint/68377

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