Financial ratio on market capitalization with eps as a moderating variable
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Published:
Feb 28, 2024
Keywords:
Capital Adequacy Ratio, Earning Per Share, Financial Ratio, Non Performing Loan, Return On Equity
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Economy
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Abstract
This study investigates the effect of financial ratios on market capitalization. This study aims to determine the effect of the Capital Adequacy ratio, Return On Equity, and Non-Performing Loan on market capitalization with EPS as a moderating variable. Study on banking companies listed on the Indonesia Stock Exchange in 2018-2022. This study uses descriptive analysis and multiple regression methods for data analysis. Sampling in this study used a purposive sampling technique with a total of 39 banks. The results of the study answer the main hypothesis that EPS moderates the effect of CAR, ROE, and NPL on market capitalization. The CAR variable has a significant positive effect on market capitalization, while the ROE and NPL variables do not affect market capitalization
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How to Cite
Aprillia, D. P. . (2024) “Financial ratio on market capitalization with eps as a moderating variable”, Jurnal Mantik, 7(4), pp. 3122-3129. doi: 10.35335/mantik.v7i4.4545.
References
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SRI WAHYUDI, A., BENY, B., & DANIEL, D. (2020). Analisis Pengaruh Kapitalisasi Pasar Dan Rasio Keuangan Terhadap Return Saham. Media Bisnis, 12(1), 9–16. https://doi.org/10.34208/mb.v12i1.875
Sultan, Y. (2021). Determinants of Bank Profitability. Jinnah Business Review, 9(2), 1–14. https://doi.org/10.53369/vzis3854
Wayan, I., Artha, B., Luh, N., & Antari, S. (2023). Pengaruh Permodalan, Kualitas Kredit, Likuiditas Dan Effisiensi Terhadap Profitabilitas Dan Kebijakan Dividen Serta Implikasinya Terhadap Kapitalisasi Pasar Bank Kbmi 4. Journal of Applied Management Studies (JAMMS), 4(2), 194–207.
Widiatmoko, J., Indarti, M. G. K., & Pamungkas, I. D. (2020). Corporate governance on intellectual capital disclosure and market capitalization. Cogent Business and Management, 7(1). https://doi.org/10.1080/23311975.2020.1750332
Wulandari, S., Widiasmara, A., & Sudrajat, M. A. (2022). PENGARUH KINERJA KEUANGAN DAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP KAPITALISASI PASAR (Studi Kasus Pada Bank Konvensional Yang Terdaftar Di Bursa Efek Indonesia Periode 2017-2020). SIMBA: Seminar Inovasi Manajemen, Bisnis, Dan Akuntansi, 4.
Yurttadur, M., Celiktas, E., & Celiktas, E. (2019). The Place of Non-performing Loans in the Turkish Banking Sector. Procedia Computer Science, 158, 766–771. https://doi.org/10.1016/j.procs.2019.09.113
??? ???, ?. ?. ?., & ????????, ?. ?. ?. (2015). ??? ??????? ?? ????? ??????? ?? ??????? ???????? ??????? ?? ??? ???? ?????? = The Effect of Profitability on Earnings Management in Industrial Companies Listed in Amman Stock Exchange. Jordan Journal of Business Administration, 13(2), 259–280. https://doi.org/10.12816/0040705
Zhou, P., & Shon, J. (2012). Option Strategies for Earnings Announcements: A Comprehensive, Empirical Analysis. FT Press.
Cindy, 2023 www.databoks.katadta.co.id
Awaluzi, M. R., & Maharani, N. K. (2022). Pengaruh Return On Asset, Debt To Equity Ratio dan Cash Dividend terhadap Nilai Kapitalisasi Pasar. Al Qalam: Jurnal Ilmiah Keagamaan Dan Kemasyarakatan, 16(2), 788. https://doi.org/10.35931/aq.v16i2.953
Budi Artha, I. W., Tri Widyastuti, Irvandi Gustari, Zulkifli, & Bambang Purwoko. (2023). Determinants of Market Capitalization with Pofitability and Dividend Policy as Intervening Variables of State Owned Banks. Dinasti International Journal of Economics, Finance & Accounting, 4(1), 50–66. https://doi.org/10.38035/dijefa.v4i1.1770
Gianfrate, G., & Gouigoux, F. (2015). Private equity investments in banks. Journal of Private Equity, 18(4), 31–39. https://doi.org/10.3905/jpe.2015.18.4.031
Indraswari, I. G. A. L., & Mimba, N. P. S. H. (2017). Pengaruh Profitabilitas, Pertumbuhan Perusahaan, Kapitalisasi Pasar dan Kepemilikan Saham Publik Pada Tingkat Pengungkapan CSR. Jurnal Akuntansi, 20(2), 1219–1248.
Jasman, J., & Kasran, M. (2017). Profitability, earnings per share on stock return with size as moderation. Trikonomika, 16(2), 88–94.
Kumar, M. P., & Kumara, N. V. M. (2020). Market capitalization: Pre and post COVID-19 analysis. Materials Today: Proceedings, 37(Part 2), 2553–2557. https://doi.org/10.1016/j.matpr.2020.08.493
Michael Spence. (1973). Job Market Signaling Author ( s ): Michael Spence Published by?: Oxford University Press Stable URL?: https://www.jstor.org/stable/1882010. The Quarterly Journal of Economics, 87(3), 355–374.
Niawaradila, B., Wiyono, G., & Maulida, A. (2021). Pengaruh Frekuensi Perdagangan, Volume Perdagangan, Dan Kapitalisasi Pasar Terhadap Return Saham Perusahaan Manufaktur Yang Terdaftar Di Bei Periode 2016-2019. Ecobisma (Jurnal Ekonomi, Bisnis Dan Manajemen), 8(1), 122–138. https://doi.org/10.36987/ecobi.v8i1.2078
Pavone, P. (2019). Market Capitalization and Financial Variables: Evidence from Italian Listed Companies. International Journal of Academic Research in Business and Social Sciences, 9(3). https://doi.org/10.6007/ijarbss/v9-i3/5802
Putri, S. A., Azwardi, & Sa’adah. (2020). Impact of intellectual capital, profitability and dividend on market capitalization. Finance: Theory and Practice, 24(3), 174–182. https://doi.org/10.26794/2587-5671-2020-24-3-174-182
Rawlin, R. S., Ramachandran, S. R., & Shanmugham, R. (2019). What Determines the Size of Bank Nifty? IUP Journal of Bank Management, 18(2), 30–40. https://search.proquest.com/docview/2239540496?accountid=150292
Roosmawarni, A., Fatihudin, D., & Mauliddah, N. (2023). Market Capitalisation and Financial Performance: Evidence from Banking Listed Company in Indonesia. Jurnal Analisis Bisnis Ekonomi, 20(2), 124–136. https://doi.org/10.31603/bisnisekonomi.v20i2.7835
Roosmawarni, A., & Mauliddah, N. (2021). Pengaruh ROE, Cash Ratio dan NPL terhadap Kapitalisasi Pasar Sub Sektor Perbankan yang Terdaftar di Bursa Efek Indonesia (Tahun 2009-2018). Jurnal Ilmu Ekonomi, 3(1), 28–41.
Shaker Sultan, A. (2014). Financial Statements Analysis -Measurement of Performance and Profitability: Applied Study of Baghdad Soft-Drink Industry. Research Journal of Finance and Accounting, 5(4), 2222–2847.
Sharma, K. (2018). Impact of Dividend Policy on the Value of Indian Banks. SCMS Journal of Indian Management, 15(3).
Siyamto, Y., & Pravasanti, Y. A. (2019). Pengaruh Variabel Kapitalisasi Pasar Ditinjau Dari Segi Negara Kepulaian Asia Tenggara Terhadap Return Saham Perusahaan Yang Berada Pada Jakarta Islamic Indeks (JII) Periode 2015-2017. Prosiding Seminar Nasional & Call for Paper STIE AAS, September, 81–88.
SRI WAHYUDI, A., BENY, B., & DANIEL, D. (2020). Analisis Pengaruh Kapitalisasi Pasar Dan Rasio Keuangan Terhadap Return Saham. Media Bisnis, 12(1), 9–16. https://doi.org/10.34208/mb.v12i1.875
Sultan, Y. (2021). Determinants of Bank Profitability. Jinnah Business Review, 9(2), 1–14. https://doi.org/10.53369/vzis3854
Wayan, I., Artha, B., Luh, N., & Antari, S. (2023). Pengaruh Permodalan, Kualitas Kredit, Likuiditas Dan Effisiensi Terhadap Profitabilitas Dan Kebijakan Dividen Serta Implikasinya Terhadap Kapitalisasi Pasar Bank Kbmi 4. Journal of Applied Management Studies (JAMMS), 4(2), 194–207.
Widiatmoko, J., Indarti, M. G. K., & Pamungkas, I. D. (2020). Corporate governance on intellectual capital disclosure and market capitalization. Cogent Business and Management, 7(1). https://doi.org/10.1080/23311975.2020.1750332
Wulandari, S., Widiasmara, A., & Sudrajat, M. A. (2022). PENGARUH KINERJA KEUANGAN DAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP KAPITALISASI PASAR (Studi Kasus Pada Bank Konvensional Yang Terdaftar Di Bursa Efek Indonesia Periode 2017-2020). SIMBA: Seminar Inovasi Manajemen, Bisnis, Dan Akuntansi, 4.
Yurttadur, M., Celiktas, E., & Celiktas, E. (2019). The Place of Non-performing Loans in the Turkish Banking Sector. Procedia Computer Science, 158, 766–771. https://doi.org/10.1016/j.procs.2019.09.113
??? ???, ?. ?. ?., & ????????, ?. ?. ?. (2015). ??? ??????? ?? ????? ??????? ?? ??????? ???????? ??????? ?? ??? ???? ?????? = The Effect of Profitability on Earnings Management in Industrial Companies Listed in Amman Stock Exchange. Jordan Journal of Business Administration, 13(2), 259–280. https://doi.org/10.12816/0040705
Zhou, P., & Shon, J. (2012). Option Strategies for Earnings Announcements: A Comprehensive, Empirical Analysis. FT Press.
Cindy, 2023 www.databoks.katadta.co.id
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