Risiko Kredit, Stabilitas, dan Kebijakan Pembiayaan Bank Syariah di Indonesia
Abstract: Tujuan penelitian – Paper ini bertujuan untuk mengetahui hubungan antara risiko kredit, stabilitasbank dan kebijakan pembiayaan.Desain/Metodologi/Pendekatan – Data yang digunakan data sekunder laporan tahunan sembilanunit bank umum syariah periode 2010-2016. Analisis data menggunakan uji korelasi.Temuan – Hasil studi mendapatkan bahwa variabel stabilitas yang memiliki hubungan signifikandengan variabel financing to deposit ratio. Variabel eksternal berupa inflasi memiliki hubungansignifikan dengan stabilitas, … Show more
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Product Market Competition, Financial Leverage, Risk of Financing on Financial Stability: Studies on Islamic Banks in Indonesia
This study aims to explain and analyze the effect of product market competition, financial leverage, and risk of financing on the stability of Islamic banks in Indonesia in 2018-2022. The sampling technique used is Islamic banks listed on the Indonesia Stock Exchange. Source of data obtained from the annual report of each bank. The analytical method used is panel regression analysis with Eviews 10 software with the Common Effect Model (CEM) model as the best model. The variables used consist of product market competition (PCM), financial leverage (DER proxy), and financing risk (NPF proxy) on banking stability (proximate Natural Logarithm Z-Score). The results of this study found that product market competition did not affect bank stability. Meanwhile, financial leverage and financing risk have a negative effect on the stability of Islamic banks in Indonesia. From the results of this study, it is hoped that competition for Islamic banks in Indonesia can always run normally as it is today. In addition, the financial leverage and financing risks of Islamic banks have a negative impact on banking stability. Therefore, this research can be used as an early warning and reference for Islamic banks to make funding decisions through debt capital and excessive financing. keywords: Banking stability, product market competition, financial leverage, financing risk ABSTRAK Penelitian ini bertujuan untuk menjelaskan dan menganalisis pengaruh persaingan pasar produk, financial leverage, dan risk of financing terhadap stabilitas bank syariah di Indonesia pada 2018-2022. Teknik pengambilan sampel yang digunakan bank syariah yang terdaftar di Bursa Efek Indonesia. Sumber data diperoleh dari laporan tahunan masing masing bank. Metode analisis yang digunakan adalah analisis regresi panel dengan software Eviews 10 dengan model Common Effect Model (CEM) sebagai model terbaik .Variabel yang digunakan terdiri dari persaingan pasar produk (PCM), financial leverage (proksi DER) dan resiko pembiayaan (proksi NPF) terhadap stabilitas perbankan (doproksikan Natural Logarithm Z-Score. Hasil dari penelitian ini menemukan bahwa persaingan pasar produk tidak berpengaruh terhadap stabilitas bank. Sementara financial leverage dan resiko pembiayaan berpengaruh negative terhadap stabilitas bank syariah di Indonesia. Dari hasil penelitian ini, diharapkan persaingan bank syariah di Indonesia dapat selalu berjalan berjalan normal seperti saat ini. Selain itu, financial leverage dan resiko pembiayaan bank syariah berdampak buruk pada stabilitas perbankan. Oleh karena itu, penelitian ini dapat dijadikan early warning dan acuan bagi bank syariah untuk mengambil keputusan pendanaan melalui modal hutang dan pembiayaan yang berlebihan. Kata Kunci: Stabilitas perbankan, product market competition, financial leverage, resiko pembiayaan REFERENCES Aiyubbi, D. El, Widarjono, A., & Amir, N. (2022). Dampak diversifikasi pembiayaan sektoral terhadap non-performing financing Bank Pembiayaan Rakyat Syariah. Jurnal Ekonomi Syariah Teori dan Terapan, 9(2), 140–155. doi:10.20473/vol9iss20222pp140-155 Ali, M., & Puah, C. H. (2018). Does Bank Size and Funding Risk Effect Banks’ Stability? A Lesson from Pakistan. Global Business Review, 19(5), 1166–1186. doi:10.1177/0972150918788745 Ardyanfitri, H., Pratikto, M. I. S., & Faizah, E. A. K. (2019). Analisis kesehatan bank dan potensi financial distress menggunakan metode rgec pada bank Btpn Syariah tahun 2014-2018. Jurnal MEBIS (Manajemen dan Bisnis), 4(2), 131–141. doi:10.33005/mebis.v4i2.63 BI, LPS, & OJK. (2018). Monograf riset stabilitas sistem keuangan 2018. 1–63. Retrieved from https://www.lps.go.id/riset/-/asset_publisher/LhOwRpOjB8hD/content/monograf-riset-stabilitas-sistem-keuangan-2018?inheritRedirect=false Brahmbhatt, M., & Canuto, O. (2012). Fiscal policy for growth and development. Is fiscal policy the answer?, 1–22. doi:10.1596/9780821396308_overview Carlson, M., Correia, S., & Luck, S. (2022). The effects of banking competition on growth and financial stability: Evidence from the National Banking Era. Journal of Political Economy, 130(2), 462–520. doi:10.1086/717453 Cetorelli, N. (2004). Real effects of bank competition. Journal of Money , Credit and Banking, 36(3), 543–558. Dewi, N. L. P. A., Endiana, I. D. M., & Arizona, I. P. E. (2019). Pengaruh rasio likuiditas, rasio leverage dan rasio profitabilitas terhadap financial distress pada perusahaan manufaktur. Kharisma: Kumpulan Hasil Riset Mahasiswa Akuntansi, 1(1), 322–333. Dutta, K. D., & Saha, M. (2021). Do competition and efficiency lead to bank stability? Evidence from Bangladesh. Future Business Journal, 7(6). doi:10.1186/s43093-020-00047-4 Farooq, M., Hunjra, A. I., Ullah, S., & Al-Faryan, M. A. S. (2023). The determinants of financial distress cost: A case of emerging market. Cogent Economics & Finance, 11(1). doi:10.1080/23322039.2023.2186038 Fatoni, A., & Sidiq, S. (2019). Analisis perbandingan stabilitas sistem perbankan syariah dan konvensional di Indonesia. Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan Dan Akuntansi, 11(2), 179–198. doi:10.35313/ekspansi.v11i2.1350 Goetz, M. R. (2018). Competition and bank stability. Journal of Financial Intermediation, 35, 57–69. doi:10.1016/j.jfi.2017.06.001 Harjito, D. A. (2011). Teori pecking order dan trade-off dalam analisis struktur modal di bursa efek Indonesia. Jurnal Siasat Bisnis, 15(2), 187–196. Heniwati, E., & Essen, E. (2020). Which retail firm characteristics impact on financial distress? Jurnal Akuntansi dan Keuangan, 22(1), 40–46. doi:/10.9744/jak.22.1.30-36 Hilyatin, D. L. (2017). Analisis prediksi potensi kebangkrutan pada PT Bank Muamalat Indonesia TBK periode 2012-2016 dengan menggunakan metode altman modifikasi. El-Jizya : Jurnal Ekonomi Islam, 5(2), 287–324. doi:10.24090/ej.v5i2.1884 IDX. (2023). Buntut runtuhnya perbankan global, negara ASEAN gelar rapat AFMGM 2023. Retrieved from https://www.idxchannel.com/banking/buntut-runtuhnya-perbankan-global-negara-asean-gelar-rapat-afmgm-2023 Jensen, C. M., & Meckling H. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics, 3(4), 305–360. doi:10.1177/0018726718812602 Kanoujiya, J., Rastogi, S., & Bhimavarapu, V. M. (2022). Competition and distress in banks in India: An application of panel data. Cogent Economics and Finance, 10(1), 1-20. doi:10.1080/23322039.2022.2122177 Kurnia, R. A. E., Sawarjuwono, T., & Herianingrum, S. (2017). Manajemen risiko pembiayaan untuk mengantisipasi kondisi financial distress pada bank syariah. Journal of Islamic Economics Lariba, 3(2), 51–64. Kwashie, A. A., Baidoo, S. T., & Ayesu, E. K. (2022). Investigating the impact of credit risk on financial performance of commercial banks in Ghana. Cogent Economics and Finance, 10(1), 1-15. doi:10.1080/23322039.2022.2109281 Latif, E. F., & Triyanto, D. N. (2018). Analisis faktor-faktor yang mempengaruhi kemungkinan terjadinya financial distress (Studi pada Perusahaan Sektor Pertambangan yang terdaftar di Bursa Efek Indonesia periode 2012-2016). Kajian Akuntansi, 19(2), 137–144. Li, S., & Li, X. (2022). Bank competition, regulation, and efficiency: evidence from the Asia-Pacific region. Asia-Pacific Journal of Accounting and Economics, 29(3), 715–742. doi:10.1080/16081625.2020.1787854 Lin, Y., Liu, Y., & Chan, K. C. (2021). Political connections and product market competition: Effects and channels. International Review of Economics and Finance, 76, 801–816. doi:10.1016/j.iref.2021.07.009 Malakauskas, A., & Lakstutiene, A. (2021). Financial distress prediction for small and medium enterprises using machine learning techniques. Engineering Economics, 32(1), 4–14. doi:10.5755/j01.ee.32.1.27382 Malik, A., Din, S. U., Shafi, K., Butt, B. Z., & Aziz, H. (2019). Earning management and the Likelihood of financial distress in banks. Public Finance Quarterly, 64(2), 208–221. Masruron, M., & Safitri, N. A. A. S. (2021). Analisis perkembangan perbankan syariah di Indonesia di masa pandemi Covid-19. Al Birru: Jurnal Keuangan Dan Perbankan Syariah, 1(1), 1–20. Mennawi, A. N. A. (2020). The impact of liquidity, credit, and financial leverage risks on financial performance of Islamic banks: A case of sudanese banking sector. International Journal of Applied Economics, Finance and Accounting, 8(2), 73–83. doi:10.33094/8.2017.2020.82.73.83 Mennawi, A. N. A., & Ahmed, A. A. (2020). The determinants of liquidity risk in Islamic banks: A case of sudanese banking sector. International Journal of Islamic Banking and Finance Research, 4(1), 38–49. https://doi.org/10.46281/ijibfr.v4i1.542 Mettana, J., Anom, P., & Silvia, B. (2021). Pengaruh good corporate governance leverage dan firm size terhadap financial distress pada sektor perdagangan, jasa dan investasi. Calyptra: Jurnal Ilmiah Mahasiswa Universitas Surabaya, 9(2). Miah, M. D., & Uddin, H. (2017). Efficiency and stability: A comparative study between Islamic and conventional banks in GCC countries. Future Business Journal, 3(2), 172–185. doi:10.1016/j.fbj.2017.11.001 Modigliani, F., & Miller, H. M. (1963). Corporate income taxes and the cost of capital : A correction. The American Economic Review, 53(3), 433–443. Munir, K., & Riaz, N. (2019). Fiscal policy and macroecomonic stability in South Asian Countries. Hacienda Publica Espanola (Review of Public Economics, 228(1), 13–33. doi:10.7866/HPE-RPE.19.1.1 Nadia, S., Ibrahim, A., & Jalilah, J. (2019). Analisis hambatan pertumbuhan perbankan syariah di Indonesia (Kajian terhadap perbankan Syariah di Aceh). JIHBIZ :Global Journal of Islamic Banking and Finance., 1(2), 153-16. doi:10.22373/jihbiz.v1i2.8575 Rachman, A., Mandiri, D. P., Astuti, W., & Arkoyah, S. (2022). Tantangan perkembangan perbankan syariah di Indonesia. Jurnal Tabarru’: Islamic Banking and Finance, 5(2), 352-365. Saputri, L. (2019). Accounting analysis journal the effect of leverage, liquidity and profitability on financial distress with the effectiveness of the audit committee as a moderating variable. Accounting Analysis Journal, 8(1), 38–44. doi:10.15294/aaj.v8i1.25887 Sari, D., & Indrarini, R. (2020). Pengaruh rasio keuangan terhadap resiko financial distress perbankan syariah di Indonesia dengan pendekatan bankometer. Jurnal Ilmiah Ekonomi Islam, 6(3), 557-570. doi:10.29040/jiei.v6i3.1191 Sari, N. N., & Sudarman, B. N. (2023). The determinants of bank stability : An empirical investigation in Southeast Asia. Jurnal Ekonomi Syari'ah Teori dan Terapan, 10(2), 109–122. doi:10.20473/vol10iss20232pp109-122 Schaeck, K., & Cih, M. (2014). Competition, efficiency, and stability in banking. Financial Management, 43(1), 215–241. Schmidt, K. M. (1997). Managerial incentives and product market competition. The Review of Economic Studies, 64(2), 191–213. Sholahuddin, M. (2004). Risiko pembiayaan dalam perbankan Syariah. Benefit: Jurnal Manajemen dan Bisnis, 8(2), 130–138. Syafii, I., & Siregar, S. (2020). Manajemen Risiko Perbankan Syariah. Proceceeding of Seminar Nasional Teknologi Komputer & Sains (SAINTEKS), Medan: 1 Februari 2020. Hal 662–665. Syatiri, A., & Hamdaini, Y. (2017). Risiko kredit, stabilitas, dan kebijakan pembiayaan. JMBS: Jurnal Manajemen dan Bisnis Sriwijaya, 15(3), 146–155. doi:10.29259/jmbs.v15i3.5715 Umdiana, N., & Claudia, H. (2020). Analisis struktur modal berdasarkan trade off theory. Jurnal Universitas Serang Raya, 7(1), 52–70. doi:10.30656/jak.v7i1.1930 Usanti, T. P (2019). Pengelolaan risiko pembiayaan di bank Syariah. ADIL: Jurnal Hukum, 3(2), 408-428. doi:10.33476/ajl.v3i2.817 Utami, D. R., & Utami, T. (2021). Pengaruh pembiayaan bagi hasil dan tingkat kesehatan bank terhadap kinerja keuangan dengan pembiayaan bermasalah sebagai variabel pemoderasi. Nominal: Barometer Riset Akuntansi dan Manajemen, 10(2), 188–200. doi:10.21831/nominal.v10i2.30282 Widyastuti, R. S., & Armanto, B. (2013). Kompetisi industri perbankan Indonesia. BMEB: Bulletin of Monitery Economics and Banking, 15(4), 402–434. https://doi.org/10.21098/bemp.v15i4.74 Yanuardi, R., & Usman, B. (2022). Pengaruh product market competition dan financial performance terhadap financial distress pada perusahaan manufaktur. IJD: International Journal of Demos, 4(1), 98–108. doi:10.37950/ijd.v4i1.190 Yudaruddin, R., soedarmono, wahyoe, Nugroho, B. A., Fitrian, Z., Mardiany, M., Purnomo, A. H., & Santi, E. N. (2023). Financial technology and bank stability in an emerging market economy. Heliyon, 9(5), 1-19. doi: 10.1016/j.heliyon.2023.e16183
Product Market Competition, Financial Leverage, Risk of Financing on Financial Stability: Studies on Islamic Banks in Indonesia
This study aims to explain and analyze the effect of product market competition, financial leverage, and risk of financing on the stability of Islamic banks in Indonesia in 2018-2022. The sampling technique used is Islamic banks listed on the Indonesia Stock Exchange. Source of data obtained from the annual report of each bank. The analytical method used is panel regression analysis with Eviews 10 software with the Common Effect Model (CEM) model as the best model. The variables used consist of product market competition (PCM), financial leverage (DER proxy), and financing risk (NPF proxy) on banking stability (proximate Natural Logarithm Z-Score). The results of this study found that product market competition did not affect bank stability. Meanwhile, financial leverage and financing risk have a negative effect on the stability of Islamic banks in Indonesia. From the results of this study, it is hoped that competition for Islamic banks in Indonesia can always run normally as it is today. In addition, the financial leverage and financing risks of Islamic banks have a negative impact on banking stability. Therefore, this research can be used as an early warning and reference for Islamic banks to make funding decisions through debt capital and excessive financing. keywords: Banking stability, product market competition, financial leverage, financing risk ABSTRAK Penelitian ini bertujuan untuk menjelaskan dan menganalisis pengaruh persaingan pasar produk, financial leverage, dan risk of financing terhadap stabilitas bank syariah di Indonesia pada 2018-2022. Teknik pengambilan sampel yang digunakan bank syariah yang terdaftar di Bursa Efek Indonesia. Sumber data diperoleh dari laporan tahunan masing masing bank. Metode analisis yang digunakan adalah analisis regresi panel dengan software Eviews 10 dengan model Common Effect Model (CEM) sebagai model terbaik .Variabel yang digunakan terdiri dari persaingan pasar produk (PCM), financial leverage (proksi DER) dan resiko pembiayaan (proksi NPF) terhadap stabilitas perbankan (doproksikan Natural Logarithm Z-Score. Hasil dari penelitian ini menemukan bahwa persaingan pasar produk tidak berpengaruh terhadap stabilitas bank. Sementara financial leverage dan resiko pembiayaan berpengaruh negative terhadap stabilitas bank syariah di Indonesia. Dari hasil penelitian ini, diharapkan persaingan bank syariah di Indonesia dapat selalu berjalan berjalan normal seperti saat ini. Selain itu, financial leverage dan resiko pembiayaan bank syariah berdampak buruk pada stabilitas perbankan. Oleh karena itu, penelitian ini dapat dijadikan early warning dan acuan bagi bank syariah untuk mengambil keputusan pendanaan melalui modal hutang dan pembiayaan yang berlebihan. Kata Kunci: Stabilitas perbankan, product market competition, financial leverage, resiko pembiayaan REFERENCES Aiyubbi, D. El, Widarjono, A., & Amir, N. (2022). Dampak diversifikasi pembiayaan sektoral terhadap non-performing financing Bank Pembiayaan Rakyat Syariah. Jurnal Ekonomi Syariah Teori dan Terapan, 9(2), 140–155. doi:10.20473/vol9iss20222pp140-155 Ali, M., & Puah, C. H. (2018). Does Bank Size and Funding Risk Effect Banks’ Stability? A Lesson from Pakistan. Global Business Review, 19(5), 1166–1186. doi:10.1177/0972150918788745 Ardyanfitri, H., Pratikto, M. I. S., & Faizah, E. A. K. (2019). Analisis kesehatan bank dan potensi financial distress menggunakan metode rgec pada bank Btpn Syariah tahun 2014-2018. Jurnal MEBIS (Manajemen dan Bisnis), 4(2), 131–141. doi:10.33005/mebis.v4i2.63 BI, LPS, & OJK. (2018). Monograf riset stabilitas sistem keuangan 2018. 1–63. Retrieved from https://www.lps.go.id/riset/-/asset_publisher/LhOwRpOjB8hD/content/monograf-riset-stabilitas-sistem-keuangan-2018?inheritRedirect=false Brahmbhatt, M., & Canuto, O. (2012). Fiscal policy for growth and development. Is fiscal policy the answer?, 1–22. doi:10.1596/9780821396308_overview Carlson, M., Correia, S., & Luck, S. (2022). The effects of banking competition on growth and financial stability: Evidence from the National Banking Era. Journal of Political Economy, 130(2), 462–520. doi:10.1086/717453 Cetorelli, N. (2004). Real effects of bank competition. Journal of Money , Credit and Banking, 36(3), 543–558. Dewi, N. L. P. A., Endiana, I. D. M., & Arizona, I. P. E. (2019). Pengaruh rasio likuiditas, rasio leverage dan rasio profitabilitas terhadap financial distress pada perusahaan manufaktur. Kharisma: Kumpulan Hasil Riset Mahasiswa Akuntansi, 1(1), 322–333. Dutta, K. D., & Saha, M. (2021). Do competition and efficiency lead to bank stability? Evidence from Bangladesh. Future Business Journal, 7(6). doi:10.1186/s43093-020-00047-4 Farooq, M., Hunjra, A. I., Ullah, S., & Al-Faryan, M. A. S. (2023). The determinants of financial distress cost: A case of emerging market. Cogent Economics & Finance, 11(1). doi:10.1080/23322039.2023.2186038 Fatoni, A., & Sidiq, S. (2019). Analisis perbandingan stabilitas sistem perbankan syariah dan konvensional di Indonesia. Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan Dan Akuntansi, 11(2), 179–198. doi:10.35313/ekspansi.v11i2.1350 Goetz, M. R. (2018). Competition and bank stability. Journal of Financial Intermediation, 35, 57–69. doi:10.1016/j.jfi.2017.06.001 Harjito, D. A. (2011). Teori pecking order dan trade-off dalam analisis struktur modal di bursa efek Indonesia. Jurnal Siasat Bisnis, 15(2), 187–196. Heniwati, E., & Essen, E. (2020). Which retail firm characteristics impact on financial distress? Jurnal Akuntansi dan Keuangan, 22(1), 40–46. doi:/10.9744/jak.22.1.30-36 Hilyatin, D. L. (2017). Analisis prediksi potensi kebangkrutan pada PT Bank Muamalat Indonesia TBK periode 2012-2016 dengan menggunakan metode altman modifikasi. El-Jizya : Jurnal Ekonomi Islam, 5(2), 287–324. doi:10.24090/ej.v5i2.1884 IDX. (2023). Buntut runtuhnya perbankan global, negara ASEAN gelar rapat AFMGM 2023. Retrieved from https://www.idxchannel.com/banking/buntut-runtuhnya-perbankan-global-negara-asean-gelar-rapat-afmgm-2023 Jensen, C. M., & Meckling H. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics, 3(4), 305–360. doi:10.1177/0018726718812602 Kanoujiya, J., Rastogi, S., & Bhimavarapu, V. M. (2022). Competition and distress in banks in India: An application of panel data. Cogent Economics and Finance, 10(1), 1-20. doi:10.1080/23322039.2022.2122177 Kurnia, R. A. E., Sawarjuwono, T., & Herianingrum, S. (2017). Manajemen risiko pembiayaan untuk mengantisipasi kondisi financial distress pada bank syariah. Journal of Islamic Economics Lariba, 3(2), 51–64. Kwashie, A. A., Baidoo, S. T., & Ayesu, E. K. (2022). Investigating the impact of credit risk on financial performance of commercial banks in Ghana. Cogent Economics and Finance, 10(1), 1-15. doi:10.1080/23322039.2022.2109281 Latif, E. F., & Triyanto, D. N. (2018). Analisis faktor-faktor yang mempengaruhi kemungkinan terjadinya financial distress (Studi pada Perusahaan Sektor Pertambangan yang terdaftar di Bursa Efek Indonesia periode 2012-2016). Kajian Akuntansi, 19(2), 137–144. Li, S., & Li, X. (2022). Bank competition, regulation, and efficiency: evidence from the Asia-Pacific region. Asia-Pacific Journal of Accounting and Economics, 29(3), 715–742. doi:10.1080/16081625.2020.1787854 Lin, Y., Liu, Y., & Chan, K. C. (2021). Political connections and product market competition: Effects and channels. International Review of Economics and Finance, 76, 801–816. doi:10.1016/j.iref.2021.07.009 Malakauskas, A., & Lakstutiene, A. (2021). Financial distress prediction for small and medium enterprises using machine learning techniques. Engineering Economics, 32(1), 4–14. doi:10.5755/j01.ee.32.1.27382 Malik, A., Din, S. U., Shafi, K., Butt, B. Z., & Aziz, H. (2019). Earning management and the Likelihood of financial distress in banks. Public Finance Quarterly, 64(2), 208–221. Masruron, M., & Safitri, N. A. A. S. (2021). Analisis perkembangan perbankan syariah di Indonesia di masa pandemi Covid-19. Al Birru: Jurnal Keuangan Dan Perbankan Syariah, 1(1), 1–20. Mennawi, A. N. A. (2020). The impact of liquidity, credit, and financial leverage risks on financial performance of Islamic banks: A case of sudanese banking sector. International Journal of Applied Economics, Finance and Accounting, 8(2), 73–83. doi:10.33094/8.2017.2020.82.73.83 Mennawi, A. N. A., & Ahmed, A. A. (2020). The determinants of liquidity risk in Islamic banks: A case of sudanese banking sector. International Journal of Islamic Banking and Finance Research, 4(1), 38–49. https://doi.org/10.46281/ijibfr.v4i1.542 Mettana, J., Anom, P., & Silvia, B. (2021). Pengaruh good corporate governance leverage dan firm size terhadap financial distress pada sektor perdagangan, jasa dan investasi. Calyptra: Jurnal Ilmiah Mahasiswa Universitas Surabaya, 9(2). Miah, M. D., & Uddin, H. (2017). Efficiency and stability: A comparative study between Islamic and conventional banks in GCC countries. Future Business Journal, 3(2), 172–185. doi:10.1016/j.fbj.2017.11.001 Modigliani, F., & Miller, H. M. (1963). Corporate income taxes and the cost of capital : A correction. The American Economic Review, 53(3), 433–443. Munir, K., & Riaz, N. (2019). Fiscal policy and macroecomonic stability in South Asian Countries. Hacienda Publica Espanola (Review of Public Economics, 228(1), 13–33. doi:10.7866/HPE-RPE.19.1.1 Nadia, S., Ibrahim, A., & Jalilah, J. (2019). Analisis hambatan pertumbuhan perbankan syariah di Indonesia (Kajian terhadap perbankan Syariah di Aceh). JIHBIZ :Global Journal of Islamic Banking and Finance., 1(2), 153-16. doi:10.22373/jihbiz.v1i2.8575 Rachman, A., Mandiri, D. P., Astuti, W., & Arkoyah, S. (2022). Tantangan perkembangan perbankan syariah di Indonesia. Jurnal Tabarru’: Islamic Banking and Finance, 5(2), 352-365. Saputri, L. (2019). Accounting analysis journal the effect of leverage, liquidity and profitability on financial distress with the effectiveness of the audit committee as a moderating variable. Accounting Analysis Journal, 8(1), 38–44. doi:10.15294/aaj.v8i1.25887 Sari, D., & Indrarini, R. (2020). Pengaruh rasio keuangan terhadap resiko financial distress perbankan syariah di Indonesia dengan pendekatan bankometer. Jurnal Ilmiah Ekonomi Islam, 6(3), 557-570. doi:10.29040/jiei.v6i3.1191 Sari, N. N., & Sudarman, B. N. (2023). The determinants of bank stability : An empirical investigation in Southeast Asia. Jurnal Ekonomi Syari'ah Teori dan Terapan, 10(2), 109–122. doi:10.20473/vol10iss20232pp109-122 Schaeck, K., & Cih, M. (2014). Competition, efficiency, and stability in banking. Financial Management, 43(1), 215–241. Schmidt, K. M. (1997). Managerial incentives and product market competition. The Review of Economic Studies, 64(2), 191–213. Sholahuddin, M. (2004). Risiko pembiayaan dalam perbankan Syariah. Benefit: Jurnal Manajemen dan Bisnis, 8(2), 130–138. Syafii, I., & Siregar, S. (2020). Manajemen Risiko Perbankan Syariah. Proceceeding of Seminar Nasional Teknologi Komputer & Sains (SAINTEKS), Medan: 1 Februari 2020. Hal 662–665. Syatiri, A., & Hamdaini, Y. (2017). Risiko kredit, stabilitas, dan kebijakan pembiayaan. 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Relevansi Fraud Hexagon Theory terhadap Kecurangan Laporan Keuangan Pada Sektor Perbankan di Indonesia Tahun 2017-2021
This research aims to analyze the relevance of Fraud Hexagon Theory to financial statement fraud in the banking sector in Indonesia in 2017-2021. Agency theory explains that management has the ability to gain a lot of benefits for itself, so that management no longer acts in the interests of the principal, one way is through collusion. This research shows that financial target, external pressure, financial stability, director change, CEO photo change, and e-procement have a positive and significant effect on financial report fraud, while change in auditor and ineffective monitoring have a negative and insignificant effect on financial report fraud.
The purpose of this study is to determine the effect of credit risk and liquidity risk on bank stability. This study used the multiple regression analysis to determine the effect of credit risk and liquidity risk as the independent variables, with BOPO (Biaya Operasional Pendapatan Operasional), GDP (Gross Domestic Bruto), BI Rate as the control variables, on Bank Stability as the dependent variable. Using purposive sampling method to collected data from the list of banking companies in OJK (Otoritas Jasa Keuangan) from 2013 to 2017 consisting of 437 observations. The estimated results show that credit risk has a significant negative effect on bank stability, and liquidity risk has a significant negative effect on bank stability. Whereas in the control variable, GDP does not affect bank stability, BOPO has a significant negative effect on bank stability, and the BI-Rate does not affect bank stability. Keywords: Credit Risk, Liquidity Risk, Bank Stability.
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