The Impact of Operational Efficiency, Capital Adequacy, Financing Risk, and Liquidity on the Stock Returns of BRIS, BTPS, and PNBS
DOI:
https://doi.org/10.24252/iqtisaduna.v12i1.69242Keywords:
BOPO, CAR, NPF, FDR, Stock Return, Islamic BankingAbstract
This study aims to analyze the effects of operational efficiency, capital adequacy, financing risk, and liquidity on stock returns in Indonesia's Islamic banking sector. The independent variables used in this study are Operating Expenses to Operating Income (BOPO), Capital Adequacy Ratio (CAR), Non-Performing Financing (NPF), and Financing to Deposit Ratio (FDR), while the dependent variable is stock return. This research employs a quantitative approach using multiple linear regression analysis. The data used are secondary data obtained from the financial statements of Bank Syariah Indonesia (BRIS), Bank BTPN Syariah (BTPS), and Bank Panin Dubai Syariah (PNBS) during the observation period. The results indicate that BOPO and NPF have a significant effect on stock returns in BRIS, whereas CAR and FDR do not. In both BTPS and PNBS, none of the independent variables significantly affect stock returns. These findings suggest that financial ratios have not fully explained stock return movements in Islamic banking, as other factors outside the research model influence investors’ investment decisions.
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