The Sensitivity of Islamic Banking Stock Prices During the Pandemic Covid-19

Authors

  • Efi Syarifudin UIN Sultan Maulana Hasanuddin Banten
  • Nani Nani UIN Sultan Maulana Hasanuddin Banten
  • Anggita Nurcahyani UIN Sultan Maulana Hasanuddin Banten

DOI:

https://doi.org/10.24090/ijtimaiyya.v7i2.7985

Keywords:

Profit, Debt to Equity Ratio (DER), operating cash flow, sharia stock prices

Abstract

Economic growth has contracted due to the COVID-19 pandemic. Based on the history of previous economic and financial crises, the banking sector is one of the most sensitive sectors during a crisis. Investors consider these conditions for their investment decisions. This paper aims to find the factors that determine the stock price of Islamic banking on three observation variables: profit, debt equity ratio (DER), and cash flow from operating (CFO). This study used a quantitative approach with secondary data sources from financial statements and company stock prices. The sample was selected purposively from Islamic banking stocks listed on the Indonesian Sharia Stock Index (ISSI). Data analysis used panel data regression using the E-Views 10 application. The findings of this study are that earnings and DER significantly determine the share price of Islamic banking based on a partial test. Profit has a positive effect, while DER has a negative impact. These findings illustrate that expectations for investment in Islamic banking stocks remained stable during the pandemic. The company's fundamental factors determine the demand for Islamic bank shares.

Downloads

Download data is not yet available.

References

Abdalloh, I. (2018). Pasar Modal Syariah. Penerbit PT Elex Media Komputindo.

Asmirantho, E., & Yuliawati, E. (2015). Pengaruh Dividen Per Share (DPS), Dividen Payout Ratio (DPR), Price to Book Value (PBV), Debt to Equity Ratio (DER), Net Profit Margin (NPM) Dan Return On Asset (ROA) terhadap Harga Saham pada Perusahaan Manufaktur Sub Sektor Makanan dan Minuman dalam Kemasan yang Terdaftar di BEI. JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi), 1(2), 95–117. https://doi.org/10.34204/jiafe.v1i2.525 DOI: https://doi.org/10.34204/jiafe.v1i2.525

Ayu, N. R. (2021). Pengaruh Arus Kas Operasi Dan Laba Bersih Terhadap Harga Saham Syariah Pada Perusahaan Yang Terdaftar Di Jakarta Islamic Index Periode 2017-2019. Islamic Banking and Finance, 10. DOI: https://doi.org/10.24903/je.v10i2.1612

Filbert, R. dan W. P. (2017). Investasi Saham Ala Fundamentalis Dunia. Penerbit PT Elex Media Komputindo.

Handini, S., & Dyah Astawinetu, E. (2020). Teori Portofolio Dan Pasar Modal Indonesia. Scopindo Media Pustaka.

Harwaningrum, M. (2016). Perbandingan Penilaian Saham Dengan Metode Analisis Fundamental Dan Analisis Tehknical, Penggorengan Saham, Serta Keputusan Penilaian Saham Jika Hasil Berlawanan Arah Untuk Kedua Metode Analisis Pada Saham Bakrie Group Untuk Periode 2005- 2009. 2, 12.

Hiltari, Ni Putu Saka, Rahayu, S. (2015). Pengaruh Laba Bersih Dan Komponen Arus Kas Terhadap Harga Saham Perusahaan Yang Terdaftar Di Indeks Lq 45 Bursa Efek Indonesia. E-Proceeding of Management, 2(3). DOI: https://doi.org/10.55601/jwem.v2i2.153

Irawan, P. (2014). Street Investing: Redevelop The Ideas. CV. Garuda Mas Sejahtera.

Jannah, M. (2015). Manajemen Keuangan. Lembaga Penelitian dan Pengabdian Kepada Masyarakat (LP2M) IAIN “SMH” Banten.

M. Fakhruddin, H. (2008). Istilah Pasar Modal A-Z. Penerbit PT Elex Media Komputindo.

Manan, A. (2017). Aspek Hukum dalam Penyelenggaraan Investasi di Pasar Modal Syariah Indonesia. kencana.

Miranti, Pan Budi Marwoto, Medinal. (2017). Pengaruh Laba Bersih Dan Arus Kas Terhadap Harga Saham Pada Perusahaan Sektor Perbankan Yang Terdaftar Pada Indeks Lq 45 Bursa Efek Indonesia Periode 2011-2015 (Studi Kasus Pada PT Bursa Efek Indonesia). Ilmiah Akuntansi Bisnis & Keuangan (JIABK), 9(2).

Munira, M., Merawati, E. E., & Astuti, S. B. (2018). Pengaruh ROE dan DER terhadap Harga Saham Perusahaan Kertas di Bursa Efek Indonesia. JABE (Journal of Applied Business and Economic), 4(3), 191. https://doi.org/10.30998/jabe.v4i3.2478 DOI: https://doi.org/10.30998/jabe.v4i3.2478

Nainggolan, A. (2019). Pengaruh EPS, ROE, NPM, DER, PER terhadap Harga Saham pada Perusahaan Perbankan yang terdaftar di Bursa Efek Indonesia Periode 2014-2017. Jurnal Manajemen, 5(1), 61–70. DOI: https://doi.org/10.37303/embeji.v5i2.112

Nur’aidawati, S. (2018). Pengaruh Current Ratio (CR), Total Asset Turnover (TATO), Debt to Equity Ratio (DER) dan Return On Asset (ROA) terhadap Harga Saham dan Dampaknya Pada Nilai Perusahaan ( Studi Kasus pada Sepuluh Bank Terbesar yang terdaftar di Bursa Efek Indonesia Periode Tahun 2011 – 2015 ). Jurnal SEKURITAS (Saham, Ekonomi, Keuangan dan Investasi), 1(3). https://doi.org/10.32493/skt.v1i3.1091 DOI: https://doi.org/10.32493/skt.v1i3.1091

Ridha, M. A. (2019). Pengaruh Rasio Keuangan, Ukuran Perusahaan, dan Arus Kas Operasi terhadap Harga Saham Syariah. Jurnal Ilmiah Akuntansi, 4(2), 17.

Setiawati, D. (2018). Pengaruh Laba Bersih Dan Arus Kas Operasi Terhadap Harga Saham Pada Perusahaan Food And Beverages Yang Terdaftar Di Bursa Efek Indonesia Periode 2012-2015. Jurnal Ekonomi dan Bisnis, 11(2), 12. DOI: https://doi.org/10.25134/jrka.v2i2.329

Sudarso, R. K. & L. (2021). Fundamental vs Technical: Which Side are You in? Elex Media Komputindo.

Tomi Dwi Permadi, B. W. D. D. S. P. A. (2017). Pengaruh Komponen Arus Kas Terhadap Harga Saham pada Perusahaan BUMN yang Terdaftar di Bursa Efek Indonesia. Jurnal Akuntansi Dan Sistem Teknologi Informasi, 13(3), 2.

Wahyudi, S. P. (2012). Pengaruh Debt to Equity Ratio, Earning Per Share, Price Earning Ratio , dan Price to Book Value terhadap Harga Saham Perusahaan. Jurnal Ilmiah Mahasiswa FEB, 1(2), 18.

Wahyusari, A. (2013). Analisis Faktor-Faktor yang Mempengaruhi Underpricing Saham saat IPO di BEI. Accounting Analysis Journal, 2(4), 9.

Yuliana, I. (2010). Investasi Produk Keuangan Syariah. UIN-Maliki Press.

Downloads

Published

2022-09-30

How to Cite

Syarifudin, E., Nani, N., & Nurcahyani, A. (2022). The Sensitivity of Islamic Banking Stock Prices During the Pandemic Covid-19. Ijtimā Iyya Journal of Muslim Society Research, 7(2), 223–236. https://doi.org/10.24090/ijtimaiyya.v7i2.7985

Issue

Vol. 7 No. 2 (2022)

Section

Articles

License

Copyright (c) 2022 Efi Syarifudin, Nani Nani, Anggita Nurcahyani

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Authors who publish with this journal agree to the following terms:
 
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.

Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.

Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).