EFISIENSI TEKNIS RELATIF BANK DOMESTIK DAN BANK CAMPURAN DI INDONESIA, 2009-2013: Aplikasi Data Envelopment Analysis
ISMU LISARA, Kusdhianto Setiawan, Sivilokonom, Ph.D.
2015 | Tesis | S2 Ekonomika PembangunanMenguatnya dominasi asing menimbulkan perdebatan terkait potensi dampaknya bagi dunia perbankan Indonesia. Di satu sisi, masuknya bank asing membawa pengaruh positif pada pengembangan produk dan jasa perbankan dan meningkatkan kinerja perbankan. Di sisi lain, masuknya bank asing mendorong persaingan yang ketat dalam merebut pangsa pasar domestik. Penelitian ini berusaha menginvestigasi efisiensi bank dominasi asing yang direpresentasikan oleh bank campuran terhadap bank domestik di Indonesia. Penelitian ini bertujuan untuk mengevaluasi tingkat efisiensi teknis bank dengan menggunakan data panel untuk 47 bank campuran dan bank domestik di Indonesia pada periode 2009-2013. Di samping itu, dilakukan pula investigasi untuk menjelaskan pengaruh faktor-faktor lingkungan, seperti ukuran bank, profitabilitas bank, tingkat antisipasi risiko (coverage) bank, variasi pendapatan bank di luar pendapatan bunga, variasi biaya operasional bank, serta tingkat leverage (tingkat pembiayaan berasal dari utang) bank, terhadap nilai efisiensi teknis bank. Penelitian juga diperkaya dengan menginvestigasi cara pandang investor terhadap bank-bank yang efisien secara teknis dengan melihat kesediaan investor dalam membayar setiap laba yang dilaporkan oleh bank yang efisien. Untuk mencapai tujuan tersebut, metoda DEA diaplikasikan untuk menghasilkan nilai efisiensi teknis TE (overall technical efficiency), efisiensi manajerial PTE (pure technical efficiency), dan efisiensi skala SE (scale efficiency) dari model CCR dan BCC pada tahap pertama. Tahap selanjutnya adalah aplikasi model regresi Tobit untuk menginvestigasi hubungan antara nilai efisiensi teknis bank dan faktor-faktor lingkungan dimaksud. Terakhir, penerapan analisis korelasi Pearson untuk menginvestigasi hubungan Price-to-Earning Ratio terhadap nilai efisiensi bank TE, PTE, dan SE yang telah diperoleh sebelumnya. Penelitian ini mengikuti pendekatan intermediasi untuk menentukan variabel input dan output. Variabel output terdiri dari i) Total Loans, ii) Investment, dan iii) Non-Interest Income, sedangkan i) Total Deposits, ii) Fixed Assets, dan iii) Labor digunakan sebagai variabel input. Hasil penelitian menunjukkan bahwa sepanjang periode studi, bank campuran menunjukkan dominasi kinerja terhadap bank domestik, di mana hal ini terlihat dari rata-rata level efisiensi bank campuran yang selalu lebih tinggi daripada rata-rata level efisiensi bank domestik. Nilai efisiensi rata-rata bank campuran (78,1 persen) lebih tinggi daripada nilai efisiensi rata-rata bank domestik sebesar 56,3 persen. Beralih pada sumber inefisiensi teknis bank, dekomposisi tingkat efisiensi menunjukkan bahwa selama masa studi, inefisiensi bank secara keseluruhan lebih banyak disebabkan oleh kendala manajerial (20,9 persen) dibandingkan kendala skala usaha (19,2 persen). Inefisiensi bank domestik disebabkan oleh kendala manajerial, bahkan lebih tinggi (24,5 persen) daripada kendala manajerial yang dihadapi oleh bank campuran (12 persen). Bank domestik juga menunjukkan kendala skala usaha yang lebih besar (23 persen) daripada bank campuran (10,3 persen). Dari analisis return to scale, ditemukan bahwa 45,957 persen bank beroperasi pada zona decreasing returns-to-scale, sehingga perlu mengurangi skala operasionalnya (down sizing) untuk mencapai efisiensi. Sebanyak 47,143 persen bank campuran sudah beroperasi pada skala usahanya yang optimum (constant returns to scale), 27,143 persen beroperasi pada zona increasing returns to scale, dan 25,714 persen beroperasi pada zona decreasing returns to scale. Sebanyak 54,545 persen bank domestik beroperasi pada zona decreasing returns to scale, 44,242 persen beroperasi pada zona increasing returns to scale, dan hanya 1,212 persen bank yang sudah beroperasi pada skala usahanya yang optimum (constant returns to scale). Hasil regresi Tobit menunjukkan bahwa tingkat efisiensi teknis bank dipengaruhi secara positif oleh pendapatan operasional dan tingkat coverage bank, serta dipengaruhi secara negatif oleh biaya operasional dan tingkat leverage bank. Hasil uji korelasi Pearson menunjukkan terdapat hubungan positif namun lemah antara variabel PER dan variabel TE ( ). Elaborasi antara hasil regresi Tobit dan uji korelasi Pearson sekaligus memperkuat fenomena berkembangnya fungsi bank sebagai financial service company di Indonesia pada saat penelitian ini dilakukan, di mana bank mulai menjadikan feebased services sebagai alternatif potensial bagi sumber pendapatannya. Kata kunci : Bank, Overall Technical Efficiency, Pure Technical Efficiency, Scale Efficiency, Data Envelopment Analysis, Tobit Regression Model, Return to Scale, Price-to-Earning Ratio
The influence of foreign banks in Indonesia, which are getting stronger, raises important questions about its potential impacts. On the one hand, entry of the foreign banks is positive in terms of product innovations and developments. On the other hand, competition in the domestic banking sector is expected to intensify, necessitating the domestic banks to establish their positions. This paper endeavors to provide empirical evidence on the impact of foreign banks entry on the performance of the domestic banks. The foreign banks will be represented by the mixed bank in Indonesia. The purpose of the present paper is to evaluate the extent of technical, pure technical, and scale efficiencies in Indonesian mixed and domestic banking using longitudinal data for 47 banks in the year 2009-2013. Besides this, an attempt has been made to explain the impact of environmental factors (like size, profitability, bank coverage, variation in operating income across the banking system, variation in operating costs across the banking system, and bank leverage) on the overall technical efficiency of the evaluated banks. This study is also enriched with an attempt to gain investors perspective over efficient bank through their willingness to pay every rupiahs of earning reported by the banks. To reach the research objectives, a DEA framework has been applied in which the estimates of technical (TE), pure technical (PTE), and scale efficiencies (SE) for individual banks have been obtained by CCR and BCC models in the first stage; and Tobit regression analysis has been used to work out the relationship between overall technical efficiency and environmental factors in the second stage. The last but not the least, Pearson correlation analysis is conducted to investigate the correlation between Price-to-Earning Ratio with previous bank efficiency level TE, PTE, and SE. The present study followed an intermediation approach to select input and output variables. The three output variables are: i) Total Loans, ii) Investment, and iii) Non-Interest Income, while the three input variables are: i) Total Deposits, ii) Fixed Assets, and iii) Labor. The mixed banks overall technical efficiency are superior (78.1 percent) to the domestic banks (56.3 percent). Turning to the sources of overall technical inefficiency, it has been noticed that the observed technical inefficiency in the Indonesian mixed and domestic banks is due to both poor input utilization (i.e., managerial inefficiency) and failure to operate a most productive scale size (i.e., scale inefficiency). However, in most of the inefficient banks, overall technical inefficiency is mainly attributed by pure technical inefficiency rather than scale inefficiency. From the analysis of returns-to-scale, it has been noticed that 45.957 percent banks operate in the zone of decreasing returns-to-scale and, thus, need a down sizing in their operations to observe an efficiency gains. About 47.143 percent of mixed banks operate in their optimum scale size (constant returns to scale); 27.143 percent operates in the zone of increasing returns to scale, and 25.714 operates in the zone of decreasing returns to scale. About 54.545 percent of domestic bank operates in the zone of decreasing returns to scale, 44.242 percent in the zone of increasing returns to scale, and only 1.212 percent bank operate in their optimum scale size (constant returns to scale). The results of Tobit regression analysis shows the efficiency is positively influenced by their variation of operating income and bank coverage, and negatively influenced by their variation of operating expenses and bank leverage. A Pearson's correlation was run to determine the relationship between PER and TE, PTE, and SE values. There was a weak and positive correlation between PER and TE ( ). The elaboration results of Tobit regression and Pearson's correlation strengthen the latest fenomena in Indonesia while this research is conducted, that banks in Indonesia are developing as financial service company which fee-based services are potential becoming alternative for its revenue resources. Keywords : Bank, Overall Technical Efficiency, Pure Technical Efficiency, Scale Efficiency, Data Envelopment Analysis, Tobit Regression Model, Return to Scale, Price-to-Earning Ratio
Kata Kunci : Bank, Overall Technical Efficiency, Pure Technical Efficiency, Scale Efficiency, Data Envelopment Analysis, Tobit Regression Model, Return to Scale, Price-to-Earning Ratio
