THE INFLUENCE OF CAPITAL ADEQUACY RATIO (CAR), RETURN ON EQUITY (ROE), AND RETURN ON ASSETS (ROA) TOWARDS A STATED OWNED BANK STOCK PRICE. (A STUDY CASE OF PT. BNI 46)

Abstract

This study is performed to examine the influence of Capital Adequacy Ratio (CAR), Return on Equity (ROE) and Return on Assets (ROA), towards a stated owned bank stock price (a case study of BNI 46). The objective of this study is to analyze if there is any significant influences of the independent variables individually and simultaneously towards the BNI’s stock price. Research methodology that used here is quantitative analysis with multiple regressions. While the type of data used is secondary data which taken monthly from January 2007 until September 2012. Based on the result of this study found that, all variables; CAR, ROE, and ROA simultaneously have a significant influence towards the BNI’s stock price. The three variables used in this study have 51.7% influence on the BNI stock price, while the other 48.3% is explained by other factor that not discussed in this study. Partially, only Return on Equity (ROE) that has no significant influence towards BNI’s stock price. Variable that has the most dominant influence towards BNI stock price is ROA. In this study ROE doesn’t give a significant impact because the average ROE has a lower value than the minimum standard declared by Bank Indonesia which is 12% and mostly ROE is counted yearly.