Published: 2025-08-01
Pengaruh Rasio Keuangan Terhadap Harga Saham Bank Bjb Periode 2015-2024
DOI: 10.35870/jemsi.v11i4.4380
Downloads
Abstract
The aim of this study is to analyze the impact of Return On Assets (ROA), Net Interest Margin (NIM), Operational Expenses to Operating Income (BOPO), and Debt to Equity Ratio (DER) on the stock price of PT Bank Pembangunan Daerah Jawa Barat dan Banten, Tbk (bank bjb) from 2015 to 2024. This research is motivated by the volatility of stock prices and the inconsistency of findings in previous studies, and it examines this relationship within the framework of Signal Theory. A quantitative method with a descriptive-verification approach was applied to analyze secondary data over a period of 10 years, using multiple linear regression analysis. The findings of this study indicate that, both individually and simultaneously, the four fundamental variables do not have a statistically significant effect on stock prices. These results suggest that investment decisions in bank bjb are likely not solely based on these four ratios, but also on other more dominant factors, such as dividend policies, long-term stability, or the bank’s strategic role as a regional development agent. The main limitation of this study is the small sample size (N=10), which may affect the statistical power of the results.
Keywords
ROA ; NIM ; BOPO ; DER ; Stock Price
Article Information
This article has been peer-reviewed and published in the JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi). The content is available under the terms of the Creative Commons Attribution 4.0 International License.
-
Issue: Vol. 12 No. 1 (2026)
-
Section: Articles
-
Published: %750 %e, %2025
-
License: CC BY 4.0
-
Copyright: © 2025 Authors
-
DOI: 10.35870/jemsi.v11i4.4380
AI Research Hub
This article is indexed and available through various AI-powered research tools and citation platforms. Our AI Research Hub ensures that scholarly work is discoverable, accessible, and easily integrated into the global research ecosystem. By leveraging artificial intelligence for indexing, recommendation, and citation analysis, we enhance the visibility and impact of published research.
Cipta Gunareka
Manajemen, Fakultas Manajemen dan Bisnis, Universitas Indonesia Membangun, Jalan Soekarno-Hatta No. 288, Kel. Batununggal, Kec. Bandung Kidul, Bandung City, West Java, Indonesia.
Erna Herlinawati
Manajemen, Fakultas Manajemen dan Bisnis, Universitas Indonesia Membangun, Jalan Soekarno-Hatta No. 288, Kel. Batununggal, Kec. Bandung Kidul, Bandung City, West Java, Indonesia.
Andre Suryaningprang
Manajemen, Fakultas Manajemen dan Bisnis, Universitas Indonesia Membangun, Jalan Soekarno-Hatta No. 288, Kel. Batununggal, Kec. Bandung Kidul, Bandung City, West Java, Indonesia.
Yoyo Sudaryo
Manajemen, Fakultas Manajemen dan Bisnis, Universitas Indonesia Membangun, Jalan Soekarno-Hatta No. 288, Kel. Batununggal, Kec. Bandung Kidul, Bandung City, West Java, Indonesia.
Astrin Kusumawardani
Manajemen, Fakultas Manajemen dan Bisnis, Universitas Indonesia Membangun, Jalan Soekarno-Hatta No. 288, Kel. Batununggal, Kec. Bandung Kidul, Bandung City, West Java, Indonesia.
-
Ari, Y., & Yuningsih, Y. Y. (2024). Pengaruh return on asset dan debt to equity ratio terhadap harga saham (Studi kasus pada PT. Telkom Indonesia Tbk di Bursa Efek Indonesia, 2016-2023). Jurnal Ekonomi, Manajemen dan Akuntansi (JEMSI), 10(1). https://doi.org/10.35870/jemsi.v10i1.1941.
-
Fahmi, I. (2018). Analisis kinerja keuangan. Alfabeta.
-
Ghozali, I. (2018). Aplikasi analisis multivariate dengan program IBM SPSS edisi sembilan. Badan Penerbit Universitas Diponegoro.
-
Hartono, J. (2018). Teori portofolio dan analisis investasi (Edisi kesebelas). BPFE-Yogyakarta.
-
Hasibuan, A. N., dkk. (2022). Audit bank syariah (Edisi ke-3). Kencana.
-
Jaya, A., Kuswandi, S., Prasetyandari, C. W., Baidlowi, I., Mardiana, Y., Ardana, Y., Sunandes, A., Nurlina, Palnus, & Muchsidin, M. (2023). Manajemen Keuangan (Edisi Pertama). PT Global Eksekutif Teknologi.
-
Kasmir. (2021). Analisis laporan keuangan (Edisi revisi). PT Raja Grafindo Persada.
-
Lesmono, W., Nurhasanah, N., & Supriyadi, D. (2022). Pengaruh net interest margin, return on equity dan debt to equity ratio terhadap harga saham pada bank yang terdaftar di bursa efek indonesia periode tahun 2016 - 2020. Journal of Economic, Business and Accounting (COSTING), 5(2). https://doi.org/10.31539/costing.v5i2.2700.
-
Permatasari, M. D., dkk. (2021). Analisis perbandingan harga saham dan volume perdagangan sebelum dan selama pandemi Covid-19. Jurnal Akuntansi Bisnis Pelita Bangsa, 6(2), 99–116.
-
Rahmani, N. A. B. (2023). Analisis pengaruh biaya operasional terhadap pendapatan operasional (BOPO), total asset turn over (TATO), return on asset (ROA), terhadap harga saham perusahaan syariah di Indonesia. Jurnal Ekonomi dan Manajemen, 1(2). https://doi.org/10.30596/13264.
-
Salsabilla, T. N., & Herlinawati, E. (2024). Pengaruh return on assets (ROA), return on equity (ROE), earning per share (EPS), dan debt to equity ratio (DER) terhadap harga saham pada PT Bank KB Bukopin Tbk periode 2014 -2023. eCo-Buss (Economy and Business), 7(2). https://doi.org/10.32877/eb.v7i2.1859.
-
Senjaya, E., & Sumawidjaja, R. N. (2025). Pengaruh debt to equity ratio (DER), return on assets (ROA) dan return on equity (ROE) terhadap harga saham pada perusahaan perbankan di Bursa Efek Indonesia periode 2016-2023. Journal of Information System, Applied, Management, Accounting and Research, 9(1), 252–263. https://doi.org/10.52362/jisamar.v9i1.1734.
-
Sugiyono. (2020). Metode penelitian kuantitatif, kualitatif, dan R&D. Alfabeta.
-
Wardhani, M. K., & Brahmayanti, I. A. S. (2024). Pengaruh ROE, EPS, DER terhadap harga saham farmasi dengan inflasi sebagai moderasi. Indonesian Journal of Innovation Multidisipliner Research, 2(3), 284–295. https://doi.org/10.59286/ijimr.v2i3.491.
-
Wijono, D., Dwiyanto, B. S., Risdwiyanto, A., & Jemadi, J. (2023). Pengaruh ROA, NIM, dan BOPO terhadap harga saham perbankan LQ20 di Bursa Efek Indonesia periode 2016-2022 menggunakan analisis data panel. Jurnal Maksipreneur: Manajemen, Koperasi, dan Entrepreneurship, 12(2), 632–646. https://doi.org/10.30588/jmp.v12i2.1558.
-
Yudistira, B., & Supiyadi, D. (2024). Pengaruh return on asset (ROA), net interest margin (NIM), dan biaya operasional pendapatan operasional (BOPO) terhadap harga saham pada PT Bank Tabungan Negara (BTN) periode 2013-2022. ECo-Buss, 6(3), 1483–1490. https://doi.org/10.32877/eb.v6i3.1253.
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
1. Copyright Retention and Open Access License
Authors retain copyright of their work and grant the journal non-exclusive right of first publication under the Creative Commons Attribution 4.0 International License (CC BY 4.0).
This license allows unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
2. Rights Granted Under CC BY 4.0
Under this license, readers are free to:
- Share — copy and redistribute the material in any medium or format
- Adapt — remix, transform, and build upon the material for any purpose, including commercial use
- No additional restrictions — the licensor cannot revoke these freedoms as long as license terms are followed
3. Attribution Requirements
All uses must include:
- Proper citation of the original work
- Link to the Creative Commons license
- Indication if changes were made to the original work
- No suggestion that the licensor endorses the user or their use
4. Additional Distribution Rights
Authors may:
- Deposit the published version in institutional repositories
- Share through academic social networks
- Include in books, monographs, or other publications
- Post on personal or institutional websites
Requirement: All additional distributions must maintain the CC BY 4.0 license and proper attribution.
5. Self-Archiving and Pre-Print Sharing
Authors are encouraged to:
- Share pre-prints and post-prints online
- Deposit in subject-specific repositories (e.g., arXiv, bioRxiv)
- Engage in scholarly communication throughout the publication process
6. Open Access Commitment
This journal provides immediate open access to all content, supporting the global exchange of knowledge without financial, legal, or technical barriers.