Determinan Likuiditas Bank yang Terdaftar di Bursa Efek Indonesia

AMANDA RAHMASARASVATTY, Prof. Dr. Tandelilin Eduardus, M.B.A.

2026 | Tesis | S2 MANAJEMEN (MM) JAKARTA

Penelitian ini menguji determinan likuiditas bank pada bank yang terdaftar di Bursa Efek Indonesia periode 2015–2024. Likuiditas diukur dengan dua proksi, L1 dan L2. Faktor yang dianalisis meliputi struktur permodalan, risiko kredit, ukuran bank, profitabilitas, kebijakan moneter, inflasi, dan pertumbuhan ekonomi. Data penelitian dianalisis menggunakan pendekatan kuantitatif dengan metode data panel melalui Random Effect Model.

Hasil penelitian menunjukkan bahwa variabel independen secara bersama-sama mampu menjelaskan perubahan likuiditas bank pada model L1 dan L2. Secara parsial, struktur permodalan dan ukuran bank berpengaruh positif signifikan terhadap kedua ukuran likuiditas. Risiko kredit berpengaruh negatif signifikan terhadap L1, tetapi tidak signifikan terhadap L2. Profitabilitas berpengaruh negatif signifikan terhadap L1 dan L2. Kebijakan moneter berpengaruh negatif signifikan terhadap L1, namun tidak signifikan terhadap L2. Inflasi tidak signifikan terhadap L1, tetapi berpengaruh positif signifikan terhadap L2. Pertumbuhan ekonomi berpengaruh negatif terhadap kedua proksi likuiditas. Penelitian ini bertujuan untuk memberikan nilai tambah bagi penelitian terdahulu melalui pembahasan lebih lanjut mengenai determinan likuiditas bank serta menjadi pertimbangan bagi manajemen bank dan regulator dalam menjaga ketahanan likuiditas perbankan.

This study examines the factors that influence bank liquidity among banking companies listed on the Indonesia Stock Exchange during the 2015–2024 period. Bank liquidity is measured using two proxies, namely the ratio of liquid assets to total assets (L1) and the ratio of liquid assets to deposits and short-term borrowing (L2). The factors analyzed in this study include capital structure, credit risk, bank size, profitability, monetary policy, inflation, and economic growth. The data are analyzed using a quantitative approach with panel data regression through the Random Effect Model.

The results show that the independent variables jointly explain changes in bank liquidity in both the L1 and L2 models. Partially, capital structure and bank size have a positive and significant effect on both liquidity measures. Credit risk has a negative and significant effect on L1, but does not significantly affect L2. Profitability has a negative and significant effect on both L1 and L2. Monetary policy has a negative and significant effect on L1, but does not significantly affect L2. Inflation does not significantly affect L1, but has a positive and significant effect on L2. Economic growth has a negative effect on both liquidity proxies. These findings indicate that bank liquidity is influenced by both internal and external factors, with bank-specific characteristics playing a more dominant role. This study is expected to enrich the literature on bank liquidity management and provide consideration for bank management and regulators in maintaining liquidity resilience in the banking sector.

Kata Kunci : likuiditas bank, struktur permodalan, risiko kredit, ukuran bank, profitabilitas, kebijakan moneter, inflasi, pertumbuhan ekonomi, data panel.