Skripsi Pengaruh Tingkat Suku Bunga Dan Kinerja Keuangan Terhadap Harga Saham Bank Umum Pemerintah Yang Terdaftar Di Bursa Efek Indonesia

7/23/2019 Skripsi Pengaruh Tingkat Suku Bunga Dan Kinerja Keuangan Terhadap Harga Saham Bank Umum Pemerintah Yang Terdaftar Di Bursa Efek Indonesia

1/78

4

WNKODQ^C \HKOJD\ ]^J^ A^KOD LDK JHKNQFD JN^DKODK

\NQCDLDW CDQOD ]DCDE ADKJ ^E^E WNENQHK\DC XDKO

\NQLDB\DQ LH A^Q]D NBNJ HKLIKN]HD

]JQHW]H

Lhdf~jdk ^k|~j Enewnqi`nc

On`dq ]dqfdkd Njikieh

Edkdfnenk

I`nc6

]^LH

KHE6 17734177


2/78

1


3/78

=


4/78

]^QD\ WNQKXD\DDK

Xdko anq|dkld |dkodk lhaddc hkh6

Kded 6 ]~lh

Khe 6 17734177


6/78

2

Dxdc }dxd |nqmhk|dQdvd`hldk Ha~ }dxd]~whdc xdko|n`dc en`dchqjdk ldk enean}dqjdk }dxd, f~od |hldj

wnqkdc `n`dc enkmdqh qnfnjh ldk |hldj wnqkdc `n`dc

ld`de eneanqhjdk }dxd }nedkod| }nchkood enkmdwdh

|dcdw hkh cdkxd lneh dkdje~ hkh, |nqhed jd}hc dxdc ldk

ha~ xdko |hldj wnqkdc fne~ enklidjdk dkdje~ }n`d`~,

|dkwd lhqhe~ }dxd a~jdk`dc dwd%dwd lhl~khd hkh+

Jdjdj }dxd Edqhd ldk Dlhj }dxd Cdelhxdko

eneanqhjdk }dxd liqikodk d`d~w~k nkojd~ fd~c

lh}dkd+

\~kdko }dxd Nqedd|h ]+Jnw xdko }n`d`~ eneanqhjdk

}dxd }nedkod| ldk liqikodk xdko `~dq ahd}d }nchkood

}dxd ldwd| enkxn`n}dhjdk }jqhw}h hkh lnkodk |nwd|

dj|~ ldk cdqh%cdqh anq}dede~ dld`dc }na~dc

dk~onqdc xdko |hldj dld adklhkokxd |cdkj} }i e~mc


7/78

?

QH_DXD\ CHL^W

Kded 6 ]^LH+]N

Kieiq hkl~j edcd}h}d 6 17734177 Enh 483?

Wnklhlhjdk 6

4+ ]LK 73 ]newdlhdk @~`~} |dc~k 1774

1+ ]EW K 4 \njdqdko @~`~} |dc~k 177+4Adoh Hkrn}|iq +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 34+>+1Adoh Neh|nk +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 34+>+=Adoh Whcdj Wnqadkjdk +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 8

4+>+1+1+2C~a~kodk Jhknqfd Wnq~}dcddk Lnkodk Cdqod ]dcde +++++++++++++ 1?

1+1+?C~a~kodk Jhknqfd Wnq~}dcddk Lnkodk ]~j~ A~kod ++++++++++++++ 131+= Jnqdkojd Jik}nw Wnkn`h|hdk ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ =7

1+


10/78

47

=+> Hlnk|hbhjd}h Ldk Wnko~j~qdk Rdqhdan` ++++++++++++++++++++++++++++++++++++++++++++++ ===+2 En|iln Dkd`h}d Ld|d +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ = f~e`dc wnq~}dcddk oi

w~a`hj lh A~q}d Nbnj Hklikn}hd |nqmd|d| enkmdewdh ==2 wnq~}dcddk+

#c||w6))+f}s+mi+hl (+

Lnkodk jiklh}hkxd xdko }nedjhk an}dq ~k|~j eneiah`h}d}h ldkd,

wd}dq eild` eneh`hjh dq|h xdko }|qd|noh} adoh wneadko~kdk kd}hikd`+

Edkbdd| wd}dq eild` adoh wneadko~kdk kd}hikd` }nmdqd `dko}~ko dld`dc 6

4( enewnqadhjh }q~j|~q wnqeild`dk wnq~}dcddk+ 1( enkhkojd|jdk nbn}hnk}h

d`ijd}h }~eanqldkd+, =( enk~kfdko |nqmhw|dkxd wnqnjikiehdk xdko }ncd|+,

( ldwd| enko~qdkoh c~|dko

}d}|d+ #]~|d, 4833 ld`de Dqh}edd|h, 177


17/78

4?

wqil~j|hb, f~od hj~| en~f~ljdk wnenqd|ddk wnkldwd| en`d`~h jnwneh`hjdk

}dcde%}dcde wnq~}dcddk #C~}dk, 1774(+

Wnqjneadkodk wd}dq eild` }n`dhk enkdeadc }~eanq%}~eanq

wnkonqdcdk ldkd ed}xdqdjd| lh`~dq wnqadkjdk, f~od enq~wdjdk ldkd xdko

wi|nk}hd` adoh wnq~}dcddk xdko enea~|~cjdk ldkd fdkojd enknkodc ldk

fdkojd wdkfdko, }nldkojdk adoh ed}xdqdjd| jncdlhqdk wd}dq eild`

enq~wdjdk |deadcdk d`|nqkd|hb ~k|~j anqhkrn}|d}h+ Wd}dq eild` lh Hklikn}hd

enkfd`dkjdk l~d b~ko}h }njd`ho~}, xdh|~ b~ko}h njikieh ldk b~ko}h

jn~dkodk+ Ld`de enkfd`dkjdk b~ko}h njikieh lnkodk mdqd enkod`ijd}hjdk

ldkd }nmdqd nbh}hnk ldqh whcdj xdko eneh`hjh jn`nahcdk ldkd }nadodh

wneh`hj eild` #hkrn}|iq( jnwdld wnq~}dcddk xdko `h}|nl lh wd}dq eild`

#neh|nk(+ ]nldkojdk b~ko}h jn~dkodk ldqh wd}dq eild` lh|~kf~jjdk i`nc

jne~kojhkdk ldk jn}newd|dk enkldwd|jdk head`dk #qn|~qk( adoh wneh`hj

ldkd d|d~ hkrn}|iq }n}~dh lnkodk jdqdj|nq hkrn}|d}h xdko djdk lhwh`hc+

Hkrn}|d}h wdld cdjnjd|kxd enq~wdjdk wnk~klddk jik}~e}h wdld }dd|

hkh lnkodk |~f~dk enkldwd|jdk |hkojd| wnkonead`hdk #qn|~qk( xdko djdk

lh|nqhed lh ed}d xdko djdk ld|dko+ cdqodkxd }nedjhk anqonqdj

|~q~k+]nmdqd ~e~e, }nedjhk adkxdj jhknqfd }~d|~ wnq~}dcddk }nedjhk

|hkooh `dad ~}dcdkxd ldk }nedjhk adkxdj jn~k|~kodk xdko ldwd| lhkhjed|h

i`nc wnenodko }dcde, f~od }nedjhk an}dq jne~kojhkdk cdqod }dcde djdk

kdhj #Jin|hk, 4881638(+ En}jhw~k lnehjhdk }dcde xdko eneh`hjh jhknqfd

adhj }njd`hw~k, cdqodkxd ah}d }dfd |~q~k jdqnkd jndlddk wd}dq+

]nmdqd qhkojd} ldwd| lhjd|djdk adcd cdqod }dcde |nq}na~|

lh|nk|~jdk i`nc kh`dh wnq~}dcddk+ Cd`he #177=64?( enkl~j~ko wnqkxd|ddk


18/78

43

lhd|d} adcd hln ld}dq wnklnjd|dk hkh dld`dc adcd cdqod }dcde

lhwnkodq~ch i`nc jhknqfd wnq~}dcddk+ Dwdah`d jhknqfd wnq~}dcddk adhj edjd

kh`dh ~}dcd djdk |hkooh+

Lnkodk kh`dh ~}dcd xdko |hkooh enea~d| wdqd hkrn}|iq en`hqhj

wnq~}dcddk |nq}na~| ~k|~j enkdkdejdk eild`kxd }nchkood djdk |nqfdlh

jnkdhjdk cdqod }dcde+ ]nad`hjkxd dwdah`d |nqldwd| anqh|d a~q~j enkonkdh

jhknqfd wnq~}dcddk edjd djdk enkxnadajdk wnk~q~kdk cdqod }dcde wdld

wnq~}dcddk |nq}na~|+ D|d~ ldwd| lhjd|djdk adcd cdqod }dcde enq~wdjdk

b~ko}h ldqh kh`dh wnq~}dcddk+ Jhknqfd wnq~}dcddk hkh djdk enkfdlh |i`dj ~j~q

}nanqdwd an}dq qn}hji xdko djdk lh|dkoo~ko hkrn}|iq+ ^k|~j ened}|hjdk

jhknqfd wnq~}dcddk |nq}na~| ld`de jiklh}h adhj d|d~ a~q~j ldwd| lh`dj~jdk

lnkodk enkoo~kdjdk dkd`h}h}+

Lh}dewhko bdj|iq hk|nqkd` hkrn}|iq f~od cdq~} enewnqcd|hjdk bdj|iq

nj}|nqkd` xdko ldwd| enewnkodq~ch cdqod }dcde xdh|~ }~j~ a~kod, }~j~

a~kod dld`dc }d`dc }d|~ bdj|iq xdko }dkod| anqwnkodq~c ld`de

wnqnjikiehdk }~d|~ knodqd }n`dhkHkb`d}h+ ]~j~ a~kod ldwd| enewnkodq~ch

jn}nheadkodk dk|dqd }hewdkdk ed}xdqdjd| ldk hkrn}|d}h wdld }nj|iq qh`,

}n`dkf~|kxd enewnkodq~ch f~e`dc `dwdkodk jnqfd ldk |hkojd|

wnkodkoo~qdk+ @nahcfd~c `doh hew`hjd}hkxd ldwd| enewnkodq~ch

wnkldwd|dk ed}xdqdjd|+ Cd` |nq}na~| ahd}d lh}na~| e~`|hw`hnq nbbnm|+ I`nc

jdqnkd h|~ wnkn|dwdk |hkojd| }~j~ a~kod adkxdj enewnq|headkojdk

anqadodh bdj|iq xdko djdk enkfdlh djhad| xdko djdk |nqfdlh ldqh wnkn|dwdk

|hkojd| }~j~ a~kod |nq}na~|+ Wnq~}dcddk wnqadkjdk dld`dc hkl~}|qh xdko

wd`hko }nk}h|hb |nqcdldw jndlddk `~dq #nj}|nqkd`( wnq~}dcddk, lh}dewhko


19/78

48

hkl~}|qh wqiwnq|h xdko enkod`deh wnk~q~kdk }dcde xdko wd`hko lqd}|h}

}n`ded jqh}h} eikn|nq #Lndk|iqi, 177>(+

Jnkdhjdk d|d~ wnk~q~kdk }~j~ a~kod ld`de a~q}d nbnj f~od }dkod|

|nqd}d head}kxd |nq~|ded |nqcdldw }dcde%}dcde wnqadkjdk xdko ld`de cd`

hkh anqb~ko}h }nadodh `neadod hk|nqenlhd}h, xdh|~ `neadod wnkxd`~q jqnlh|

jnwdld ed}xdqdjd|+ \hkoohkxd }~j~ a~kod ldk ahdxd iwnqd}hikd`

anqldewdj knod|hb |nqcdldw jnedew~dk wnq~}dcddk wnqadkjdk ld`de

enenk~ch jndfhadkkxd }nchkood enk~q~kjdk j~d`h|d} jqnlh| wnqadkjdk+

Anqld}dqjdk ~qdhdk lh d|d}, edjd wnkn`h|h enkodeah` }na~dc f~l~`6

WNKODQ^C \HKOJD\ ]^J^ A^KOD LDK JHKNQFD

JN^DKODK \NQCDLDW CDQOD ]DCDE ADKJ ^E^E

WNENQHK\DC XDKO \NQLDB\DQ LH A^Q]D NBNJ

HKLIKN]HD+

4+1 Q~dko @hkoj~w Wnknh`h|hdk

Ld`de wnkn`h|hdk hkh q~dko `hkoj~w wnkn`h|hdk lnkodk enkne~jdk

wnkodq~c |hkojd| }~j~ a~kod ldk jhknqfd |nqcdldw cdqod }dcde wnq~}dcddk

adkj ~e~e wnenqhk|dc xdko |nqldb|dq lh A~q}d Nbnj Hklikn}hd+ Lnkodk

rdqhdan` wnkn`h|hdk lho~kdjdk dld`dc |hkojd| }~j~ a~kod, jhknqfd jn~dkoddk

wnq~}dcddk ldk cdqod }dcde+ Rdqhdan` cdqod }dcde xdko lho~kdjdk

wnkn`h|hdk hkh dld`dc cdqod }dcde a~`dkdk }n`ded wnqhiln 1773%1747+

Rdqhdan` |hkojd| }~j~ a~kod xdko lho~kdjdk ld`de wnkn`h|hdk hkh

dld`dc ]~j~ A~kod ]nq|hbhjd| Adkj Hklikn}hd #]AH( Wnqhiln 1773%1747+

D`d}dk jnkdwd wnkn`h|h enkoo~kdjdk ]~j~ A~kod ]AH dld`dc jdqnkd

}n`ded Hkh |hkojd| }~j~ a~kod ]AH xdko }nqhko lho~kdjdk hklhjd|iq ~|ded


20/78

17

~k|~j enknk|~jdk |hkojd| }~j~ a~kod lnwi}h|i ed~w~k |hkojd| }~j~ a~kod

whkfdedk xko anq`dj~ lh Hklikn}hd+ Fhjd }~j~ a~kod ]AH anq~adc edjd

|hkojd| }~j~ a~kod xdko anq`dj~ lh wd}dq f~od djdk enkod`deh wnq~adcdk

#@dk|dqd, 177


21/78

14

4+> Edkbdd| Wnkn`h|dk

Ldqh cd}h` wnkn`h|hdk hkh, lhcdqdwjdk ldwd| eneanqhjdk edkbdd| adoh6

4+>+4 Hkrn}|iq

Ldwd| lho~kdjdk }nadodh qnbnqnk}h ld`de enkh`dh hkrn}|d}h

}dcde, jc~}~}kxd }dcde wnq~}dcddk wnqadkjdk+

4+>+1 Neh|nk

Ldwd| eneanqhjdk odeadqdk wnkodq~c |hkojd| }~j~ a~kod

ldk jhknqfd jn~dkodk |nqcdldw cdqod }dcde wnq~}dcddkkxd+ Ldqh

cd}h` wnkn`h|hdk hkh ah}d lhfdlhjdk wnq|headkodk ld`de enkfdod kh`dh

wnq~}dcddk #cdqod }dcdekxd( lnkodk enewnqcd|hjdk jhknqfd

jn~dkodk ldk wnkodeah` jnw~|~}dk |hkojd| }~j~ a~kod+

4+>+= Whcdj Wnqadkjdk

Wnkn`h|hdk hkh lhcdqdwjdk ldwd| eneanqhjdk }~eadkodk

hkbiqed}h }nq|d eneanqhjdk odeadqdk wnkodq~c |hkojd| }~j~ a~kod

]AH, ldk lhcdqdwjdk cd}h` wnkn`h|hdk hkh ldwd| lho~kdjdk }nadodh

wnq|headkodk ld`de enkn|dwjdk }~j~ a~kod enkld|dko+

4+>+


22/78

11

ADA HH

\HKFD^DK W^]\DJD

1+4Wnkn`h|hdk \nqldc~`~

_hfdxdk|h #177 wnq~}dcddk wnqadkjdk Cd}h` wnkn`h|hdk lhjn|dc~h

adcd dld wnkodq~c xdko }hokhbhjdk dk|dqd MDQ, QIQD, ldk @LQ |nqcdldw

cdqod }dcde wnq~}dcddk wnqadkjdk lh A~q}d Nbnj Hklikn}hd }nmdqd wdq}hd`+

]nldkojdk cd}h` ~fh wdq}hd` ~k|~j QID, AIWI ldk KWE |nqcdldw cdqod

}dcde wnq~}dcddk wnqadkjdk lh A~q}d Nbnj Hklikn}hd |hldj anqwnkodq~c

}nmdqd }hokhbhjdk+

Wnkn`h|hdk hkh eneh`hjh wnqanlddk lnkodk wnkn`h|hdk |nqldc~`~+

Lhedkd ld`de wnkn`h|hdk hkh wnkn`h|h enkoo~kdjdk }dewn` xdko |nqadq~ xdh|~

6 wnq~}dcdk wnqadkjdk xdko |nqldb|dq lh ANH lnkodk wnqhiln 1773%1747 ldk

f~od rdqhdan` jhknqfd wnq~}dcddk xdko lho~kdjdk ld`de wnkn`h|hdk hkh dld`dc


23/78


24/78

1

l+ Iw|hikXdh|~ wnqkxd|ddk xdko lhjn`~dqjdk i`nc }n}niqdko d|d~ `neadod

#|n|dwh a~jdk neh|nk( ~k|~j eneanqhjdk cdj jnwdld wnenodkokxd

~k|~j enean`h }dcde #md`` iw|hik( ldk enkf~d` }dcde #w~| iw|hik(

wdld |hkojd| cdqod xdko |n`dc lh|nk|~jdk+

n+ Qhoc|Enq~wdjdk wqil~j lnqh|d|hb d|d~ |~q~k ldqh }dcde, xdko

eneanqhjdk cdj adoh hkrn}|iq ~k|~j enean`h }dcde adq~ xdko

lhjn`~dqjdk neh|nk qhoc| enq~wdjdk }~d|~ wnqchew~kdk ldkd xdko

lh`dj~jdk neh|nk xdko |n`dc |nqmd|d| d|d~ |nqldb|dq }nan`~ekxd+

Hkrn}|iq ai`nc enkodadhjdk cdj kxd lnkodk jik}nj~nk}h

anqj~qdkokxd wnq}nk|d}n jnwneh`hjdk }dcde d|d} neh|nk |nq}na~| cd`

hkh jdqnkd wdld ldq}dqkxd wnq~}dcddk enkddqjdk qhoc| }ded

lnkodk enkon`~dqjdk }dcde adq~, djhad|kxd djdk enewnkodq~ch

wnq}nk|d}n jnwneh`hjdk jd`d~ |hldj enean`h }nmdqd wqiwiq}hikd`+

b+ _dqqdk|Xdh|~ cdj ~k|~j enkojikrnq}hjdk dqqdk|lnkodk f~e`dc }dcde

lhed}xdqdjd| xdko djdk ld|dko }n}~dh lnkodk jn|nk|~dkkxd

d`d~w~k dqqdk| ldwd| lhwnqldodkojdk kde~k dld wnqanlddk

~|ded lnkodk }dcde lhdk|dqdkxd 6

4+ _dqqdk||hldj enean`h cdj }~dqd+

1+ _dqqdk||hldj enknqhed lnrhlnk+

=+ _dqqdk|enew~kxdh ed}d anq`dj~ xdko |nqad|d} }n`ded = |dc~k+


26/78

12

o+ Qnj}d Ldkd

Enq~wdjdk dldc xdko lhwnqo~kdjdk ~k|~j enkochew~k ldkd

ldqh hkrn}|iq jc~}~}kxd ldqh hkrn}|iq jnmh` ldk hkrn}|iq xdko |hldj

eneh`hjh adkxdj dj|~ ldk jndc`hdk ~k|~j enkoch|~ko qn}hji d|d}

hkrn}|iq enqnjd+ Jik}nwkxd }nj~ew~`dk hkrn}|iq xdko lh ank|~j

ld`de }~d|~ dldc xdko en`dj~jdk hkrn}|d}h lh}dcde, ia`hod}h d|d~

`dhkkxd en`d`~h enknfnq hkrn}|d}h i`nc iqdko xdko lhdkoodw wdjdq

d|d~ dc`h lhcdqdwjdk ldwd| eneh`hc d|d~ enkon`i`d ldkd }nmdqd

enko~k|~kojdk +

Lh Hklikn}hd |nqldwd| l~d fnkh} qnj}dldkd xdh|~6

d+ Qnj}dldkd |nqa~jd

Qnj}dkldk hkh cdkxd lhwnqf~d`%an`hjdk en`d`~h enknfnq ldk

|hldj lhwnqldodko lha~q}d+

a+ Qnj}dldkd |nq|~|~w

Qnj}dldkd |nq|~|~w xdko lhlhqhjdk wnq}nqidk |nqad|d}

}nchkood wdqd hkrn}|iq }ded }nwnq|h wnenodko }dcde }nmdqd

~e~e+

=+ Wnqdk Ldk Edkbdd|

Wd}dq eild` enew~kxdh wnqdk ldk edkbdd| wnk|hko ld`de

wnqnjikiehdk }~d|~ knodqd jdqnkd enkmhw|djdk bd}h`h|d} adoh jnwnq`~dk

hkl~}|qh d|d~ hkrn}|iq ld`de enenk~ch wnqehk|ddk ldk wnkddqdk eild`+


27/78

1?


28/78

13

1+1+1 Adkj

4+ Wnkonq|hdk Adkj+

Enk~q~| ^kldko%~kldko Qnw~a`hj Hklikn}hd Ki+47 \dc~k 4883

\dkood` 47 Kiwneanq 4883 |nk|dko wnqadkjdk, xdko lhedj}~l lnkodk

Adkj dld`dc adldk ~}dcd xdko enkochew~k ldkd ldqh ed}xdqdjd| ld`de

ank|~j }hewdkdk ldk enkxd`~qjdkkxd jnwdld ed}xdqdjd| ld`de ank|~j

jqnlh| d|d~ ank|~j%ank|~j `dhkkxd ld`de qdkojd enkhkojd|jdk |dqdb

chl~w qdjxd| adkxdj+

Cd}ha~dk #177>( xdko lhedj}~l lnkodk Adkj ^e~e dld`dc

adkj xdko en`dj}dkdjdk jnohd|dk ~}dcd xdko }nmdqd jikrnk}hikd`

ldk)d|d~ anqld}dqjdk wqhk}hw }xdqhdc xdko ld`de jnohd|dkkxd

eneanqhjdk fd}d ld`de `d`~ `hk|d} wneadxdqdk+ Ld`de anqadodh a~j~

wnqadkjdk, }~d|~ adkj lhlnbnkh}hjdk }nadodh `neadod jn~dkodk xdko

~}dcd wijijkxd dld`dc enkochew~k ldkd ldk enkxd`~qjdk jnead`h

ldkd |nq}na~| jned}xdqdjd| ld`de ank|~j jqnlh| }nq|d eneanqhjdk fd}d%

fd}d ld`de `d`~ `hk|d} wneadxdqdk ldk wnqnldqdk ~dko+

1+ B~ko}h Wijij Adkj

Ldqh lnbhkh}h |nq}na~| ldwd| lh}hew~`jdk adcd dld |hod b~ko}h

~|ded adkj ld`de wneadko~kdk njikieh #J~kmiqi ldk ]~cdqlfiki,

1771( xdh|~6

d+ Enkochew~k ldkd ed}xdqdjd| ld`de ank|~j }hewdkdk+

a+ Enkxd`~qjdk ldkd jn ed}xdqdjd| ld`de ank|~j jqnlh|+

m+ En`dkmdqjdk |qdk}dj}h wnqldodkodk ldk wnqnldqdk ~dko+


29/78


30/78

=7

2( Enknqhed wneadxdqdk ldqh |dohcdk d|d} }~qd| anqcdqod

?( Enkxnlhdjdk |newd| ~k|~j enkxhewdk adqdko ldk }~qd| anqcdqod+

Adkj ~e~e dld xdko lh}na~| Adkj Lnrh}d ldk Adkj Kik

Lnrh}d

d+ Adkj ^e~e Lnrh}d dq|hkxd xdko q~dko `hkoj~w onqdj

iwnqd}hikd`kxd }dewdh jn `~dq knonqh+

a+ Adkj ^e~e Kik Lnrh}d dq|hkxd q~dko `hkoj~w onqdj

iwnqd}hikd`kxd lh ld`de knonqh }dfd+

a+ Adkj Wnqjqnlh|dk Qdjxd| #AWQ(

Enk~q~| ^kldko%^kldko Kieiq ? |dc~k 4881 |nk|dko

Wnqadkjdk, xdko lhedj}~l Adkj Wnqjqnlh|dk Qdjxd| dld`dc adkj xdko

enknqhed }hewdkdk cdkxd ld`de ank|~j lnwi}h|i anqfdkojd, |da~kodk

ldk d|d~ ank|~j `dhkkxd xdko lhwnq}dedjdk lnkodk h|~+ ^}dcd%~}dcd

Adkj Wnqjqnlh|dk Qdjxd|, lhdk|dqdkxd6

4( Enkochew~k ldkd ldqh ed}xdqdjd| ld`de ank|~j }hewdkdk anq~wd

lnwi}h|i anqfdkojd, ldk |da~kodk+

1( Eneanqh jqnlh|+

=( Enkxnlhdjdk wneahdxddk adoh kd}dadc anqld}dqjdk wqhk}hw adoh

cd}h` }n}~dh lnkodk xdko lh|n|dwjdk wnenqhk|dc+


31/78

=4

m+ Adkj Wqhenq

Xdh|~ adkj xdko ldwd| enkmhw|djdk d`d| wneadxdqdk adhj

anq~wd ~dko jdq|d` ed~w~k ~dko ohqd`+ Adkj xdko |nqed}~j jnìewij

hkh dld`dc6

4( Adkj ]nk|qd` d|d~ Adkj Hklikn}hd }nadodh wnkmhw|d ~dko jdq|d`+

]n`dhk h|~ |~od} Adkj ]nk|qd` lhdk|dqdkxd6

d+ Enkn|dwjdk ldk en`dj}dkdjdk jnahfdjdk eikn|nq

a+ Enkod|~q ldk enkfdod jn`dkmdqdk }h}|ne wneadxdqdk

m+ Enkod|~q ldk enkodd}h adkj+

1( Adkj ê~e }nadodh wnkmhw|d ~dko ohqd` #~dko xdko cdkxd anq`dj~

}nmdqd jc~}~} ldk |hldj anq`dj~ }nmdqd ~e~e(+

l+ Adkj ]nj~klnq

Xdh|~ adkj xdko |hldj ldwd| enkmhw|djdk d`d| wneadxdqdk ldk

cdkxd anqwnqdk }nadodh wnqdk|dqd ld`de wnqjqnlh|dk xdko |nqoiìko

ld`de adkj hkh dld`dc Adkj Wnqjqnlh|dk Qdjxd|+

>+ Fnkh} Adkj Anqld}dqjdk Jnwneh`hjdkkxd

Dwdah`d lh|hkfd~ ldqh }noh jnwneh`hjdkkxd, fnkh} adkj |nqlhqh d|d}

adkj eh`hj wnenqhk|dc, adkj eh`hj }d}|d kd}hikd`, ldk adkj eh`hj }d}|d

d}hko+

d+ Adkj Eh`hj Wnenqhk|dc

Adkj wnenqhk|dc dld`dc adkj lh edkd adhj dj|d wnklhqhdk

ed~w~k eild`kxd lheh`hjh i`nc wnenqhk|dc, }nchkood }n`~q~c

jn~k|~kodk adkj lheh`hjh i`nc wnenqhk|dc w~`d+ Mik|ickxd Adkj

Qdjxd| Hklikn}hd #AQH(, Adkj Edklhqh+ ]n`dhk h|~ dld f~od adkj eh`hj


32/78

=1

wnenqhk|dc ldnqdc xdko |nqldwd| lh ldnqdc |hkojd| H ldk |hkojd| HH

ed}hko%ed}hko wqirhk}h+ Mik|ic Adkj LJH, Adkj Fd|nko, ldk

}nadodhkxd+

a+ Adkj Eh`hj ]d}|d Kd}hikd`

Adkj }d}|d kd}hikd` dld`dc adkj xdko }n`~q~c d|d~ }nadohdk

an}dq eild`kxd lheh`hjh i`nc }d}|d kd}hikd` }nq|d dj|d wnklhqhdkkxd

w~k lhlhqhjdk i`nc }d}|d, anoh|~ w~`d wneadohdk jn~k|~kodkkxd f~od

lhwnq|~kf~jjdk ~k|~j }d}|d w~`d+ Mik|ickxd Adkj E~ded`d|, Adkj

Ldkdeik, Adkj Mnk|qd` D}hd, Adkj @hwwi, Adkj Khdod, ldk `dhk%`dhk+

m+ Adkj Eh`hj D}hko

Adkj fnkh} hkh enq~wdjdk mdadko ldqh adkj xdko dld lh `~dq

knonqh, adhj eh`hj }d}|d d}hko d|d~ wnenqhk|dc d}hko+

Jnwneh`hjdkkxd lheh`hjh i`nc whcdj `~dq knonqh+ Mik|ickxd DAK

DEQI adkj, Mh|x Adkj, ldk `dhk%`dhk+

2+ Fnkh} Adkj Anqld}dqjdk Jnohd|dk Iwnqd}hikd`kxd

d+ Adkj Jikrnk}hikd`

Wnkonq|hdk jd|d jikrnk}hikd` enk~q~| Jde~} ^e~eAdcd}d

Hklikn}hd dld`dc enk~q~| dwd xdko }~ldc enkfdlh jnahd}ddk+

]nenk|dqd h|~, enk~q~| Jde~} An}dq Adcd}d Hklikn}hd #JAAH( dld`dc

anqld}dqjdk jn}nwdjd|dk ~e~e }nwnq|h dld|, jnahd}ddk, jn`dvhedk+

Anqld}dqjdk wnkonq|hdk h|~, adkj jikrnk}hikd` dld`dc adkj

xdko ld`de iwnqd}hikd`kxd enknqdwjdk en|iln a~kod, jdqnkd en|iln

a~kod }~ldc dld |nq`nahc ldc~`~, enkfdlh jnahd}ddk ldk |n`dc lhwdjdh

}nmdqd en`~d} lhadklhkojdk lnkodk en|iln adoh cd}h`+
http://mengerjakantugas.blogspot.com/2009/01/otonomi-daerah.htmlhttp://mengerjakantugas.blogspot.com/2009/02/bahasa-indonesia.htmlhttp://mengerjakantugas.blogspot.com/2009/02/bahasa-indonesia.htmlhttp://mengerjakantugas.blogspot.com/2009/02/bahasa-indonesia.htmlhttp://mengerjakantugas.blogspot.com/2009/02/bahasa-indonesia.htmlhttp://mengerjakantugas.blogspot.com/2009/02/bahasa-indonesia.htmlhttp://mengerjakantugas.blogspot.com/2009/01/otonomi-daerah.html


33/78


34/78

= dq|hkxd ld|d lh}|qha~}h kiqed`+


46/78


47/78


48/78


49/78


50/78

>7

Fhjd 0 edjd lh|nqhed dq|hkxd |hldj anqwnkodq~c

}hokhbhjdk+

Fhjd ; edjd lh|i`dj dq|hkxd anqwnkodq~c }hokhbhjdk+


51/78

>4

ADA HR

CD]H@ LDK WNEADCD]DK


52/78

>1

wnq|dkhdk, wnq|deadkodk, wqiwnq|h ldk `dhk%`dhk+ Adkj enq~wdjdk }~d|~

`neadod xdko anqwnqdk }nadodh wnqdk|dqd jn~dkodk #bhkdkmhd` hk|nqenlhdqx(

dk|dqd whcdj% whcdj xdko enenq`~jdk ldkd, }nq|d }nadodh `neadod xdko

anqb~ko}h enewnq`dkmdq `d`~ `hk|d} wneadxdqdk+ Ldk anqhj~| hkh dld`dc wqibh`

wnq~}dcddk adkj ~e~e wnenqhk|dc oi w~a`hm lh ANH xdko enkfdlh }dewn`

ld`de wnkn`h|hdk+

W\+ Adkj Knodqd Hklikn}hd \aj, enq~wdjdk Adldk ^}dcd Eh`hj

Knodqd xdko lhlhqhjdk wdld |dc~k 48. ldk w~a`hj 1>.+ W\+ Adkj Knodqd Hklikn}hd \aj anqd`ded|jdk lh AKH

A~h`lhko F`+ Fnkl+ ]~lhqedk Jdr 4 Fdjdq|d 47117,

W\ Adkj Qdjxd| Hklikn}hd #Wnq}nqi( \aj #}n`dkf~|kxd lh}na~|

AQH(, enq~wdjdk adldk ~}dcd eh`hj knodqd xdko lhlhqhjdk wdld |dkood` 43

Ln}neanq 4823 anqld}dqjdk ^kldko%~kldko Ki+ 14 \dc~k 4823+ Wdld

|dkood` 18 Dwqh` 4881, ldk f~od anqld}dqjdk Wnqd|~qdk Wnenqhk|dc Qnw~a`hj

Hklikn}hd #Wnenqhk|dc( Ki+ 14 \dc~k 4881, ank|~j adldk c~j~e AQH

lh~adc enkfdlh Wnq~}dcddk Wnq}nqidk #Wnq}nqi(

W\ Adkj \da~kodk Knodqd #Wnq}nqi( \aj #Adkj( lhlhqhjdk

}nadodh adkj eh`hj knodqd, }ne~`d lnkodk kded Adkj \da~kodk Wi}

anqld}dqjdk ^kldko%~kldko Ldq~qd| Ki+ 8 \dc~k 48>7 |dkood` 8 Bnaq~dqh

48>7+ ]n`dkf~|kxd, anqld}dqjdk Wnqd|~qdk Wnenqhk|dc Wnkoodk|h ^kldko%

~kldko Ki+


53/78

>=

\da~kodk Knodqd+ Wdld |dkood` 18 Dwqh` 4838, Adkj e~`dhanqiwnqd}h

}nadodh adkj ~e~e eh`hj knodqd+

W\ Adkj Edklhqh #Wnq}nqi( \aj+ #}n`dkf~|kxd lh}na~| Adkj

Edklhqh d|d~ Adkj( lhlhqhjdk wdld |dkood` 1 Ij|ianq 4883+ Adkj Edklhqh

lhlhqhjdk en`d`~h wnkooda~kodk ~}dcd W\ Adkj A~eh Ldxd #Wnq}nqi(

#AAL(, W\ Adkj Ldodko Knodqd #Wnq}nqi( #ALK(, W\ Adkj Nj}wiq

Hewiq Hklikn}hd #Wnq}nqi( #Adkj Nshe( ldk W\ Adkj Wneadko~kdk

Hklikn}hd #Wnq}nqi( #Adwhkli( #}n`dkf~|kxd }nmdqd anq}ded % }ded lh}na~|

Adkj Wn}nq|d Wnkooda~kodk(+


54/78

>7 3+= +7114 +7>>7>

QIN 41 +4= +?3 +=44> +4?27?

AIWI 41 +>2 +3? +281? +78? 4+74 +?273 +42=?1

]~eanq ld|d 6 ld|d }nj~klnq xdko lhi`dc

Ldqh |dan` lhd|d} ldwd| lh`hcd| }|d|h}|hj ln}jqhw|hb ldqh ed}hko%ed}hko

rdqhdan` wnkn`h|hdk+ Ln}jqhw|hb ldqh ed}hko%ed}hko rdqhdan` wnkn`h|hdk ldwd|

fn`d}jdk }nadodh anqhj~| 6


55/78

>>

\dan` 2,?1 23?,?=2?

AEDKLHQH 1>4 =2,?1 wdld

|dc~k 1747 ldk cdqod |nqnkldc Qw 23 lhwnqi`nc W\ Adkj \da~kodk

Knodqd \aj wdld |dc~k 1773+ Qd|d%qd|d j~e~`d|hb |nq|hkooh lhwnqi`nc

W\ Adkj Qdjxd| Hklikn}hd \aj }nan}dq Qw 23?,?= }nldkojdk qd|d%qd|d

j~e~`d|hb |nqnkldc Qw 3=,77 lhwnqi`nc W\ Adkj \da~kodk Knodqd \aj+

>,2

AEDKLHQH 2,>> 2,== 2, =1,1? =4,=8

Endk 8,41> 3,72?> 41,>>2

]~eanq ld|d 6 ld|d }j~klnq xdko lhi`dc #`dewhqdk(


56/78


57/78

>?


58/78

>3

\dan` 7,44?1 7,4>3= 7,441

AQH 7,48 7,438= 7,113? 7,17 7,487


59/78

>8

lhwnqi`nc W\ Adkj Qdjxd| Hklikn}hd \aj }nan}dq =8,>8> 7,>433 7,11?==

AEDKLHQH 7,274< 7,>=== 7,>1>18==

A\K 7,28=7 7,2328 7,>3


60/78

27

2==AQH 7,?>>1 7,?>38 7,2831 7,?=?21> 7,>??8 7,28 7,82=1 4,778 7,83=>2?

]~eanq ld|d 6 ld|d }nj~klnq xdko lhi`dc #`dewhqdk(

Ldqh |dan` lh d|d} |nq`hcd| @LQ wnqhiln 1773%1747 ldqh ed}hko%

ed}hko wnq~}dcddk }dewn`+ Qd}hi @LQ |nq|hkooh lhwnqi`nc W\ Adkj

\da~kodk Knodqd \aj xdh|~ }nan}dq 8?,3>. wdld |dc~k 1773

}nldkojdk @LQ |nqnkldc lhwnqi`nc W\ Adkj Edklhqh \aj }nan}dq

>2,1>. wdld |dc~k 1773+ Qd|d%qd|d @LQ |nq|hkooh lhwnqi`nc W\ Adkj

\da~kodk Knodqd \aj xdh|~ 83,=>. }nldkojdk qd|d%qd|d @LQ |nqnkldc

lhwnqi`nc W\ Adkj Edklhqh \aj xdh|~ >8,


61/78


62/78

21

\dan`


63/78

2=

Ldqh cd}h` wnko~fhdk }ne~d rdqhdan` anad} enenk~ch d}~e}h

ciei}jnld}|h|d}+ Cd` hkh lh|~kf~jdk adcd 0 xdko

dq|hkxd d}~e}h ciei}jnld}|h|d} |nqfdlh+

73>> 1+4=1,=. wnq~adcdk d|d~ rdqhd}h cdqod }dcde ldwd|

lhfn`d}jdk i`nc wnq~adcdk d|d~ rdqhd}h rdqdhan` anad} #]~j~ A~kod ]AH,

MDQ, QID, KWE, QIN, AIWI, @LQ( }nldkojdk }nan}dq an}dq xdh|~


65/78

2>


66/78

22

#]~j~ A~kod ]AH+ MDQ, QID, KWE, QIN, AIWI, @LQ 5 7( d|d~

mn|nqh} wdqha~}+

l+ 5 =?4,>34

Kh`dh jinbn}hnk qnoqn}h enk~kf~jdk adcd }n|hdw

wnq~adcdk kh`dh QID }nan}dq }d|~ }d|~dk edjd cdqod }dcde djdk

anq~adc lnkodk dqdc xdko }ded }nan}dq =?4,>34 }d|~dk lnkodk

d}~e}h rdqhdan` anad} xdko `dhk |n|dw #}~j~ a~kod ]AH, MDQ,

KWE, QIN, AIWI, @LQ 5 7( d|d~ mn|nqh} wdqha~}+

n+ 5


67/78

2?

}d|~dk lnkodk d}~e}h rdqhdan` anad} xdko `dhk |n|dw #]~j~ A~kod

]AH+ MDQ, QID, KWE, QIN, @LQ 5 7( d|d~ mn|nqh} wdqha~}+

c+ 5 %17


68/78

23


69/78


70/78

?7

l+ Rdqhdan` KWE

Ldqh |dan` lhd|d} ldwd| lh}hew~`jdk adcd KWE |hldj

anqwnkodq~c |nqcdldw cdqod }dcde+ Cd` hkh lh|~kf~jjdk lnkodk

kh`dh xdko |nq`n|dj lhdk|dqd kh`dh #%

1+17707+=4801+177( ldk kh`dh }ho xdko `nahc an}dq ldqh wdld d`wcd

#7+?22;7+7>(+

n+ Rdqhdan` QIN

Ldqh |dan` lhd|d} ldwd| lh}hew~`jdk adcd QIN |hldj


kh`dh xdko |nq`n|dj lhdk|dqd kh`dh #%

1+17704+1>101+177( ldk kh`dh }ho xdko `nahc an}dq ldqh wdld d`wcd

#7+1?8;7+7>(+

b+ Rdqhdan` AIWI

Ldqh |dan` lhd|d} ldwd| lh}hew~`jdk adcd AIWI |hldj


kh`dh xdko |nq`n|dj lhdk|dqd kh`dh #%1+1770%

4+88?01+177( ldk kh`dh }ho xdko `nahc an}dq ldqh wdld d`wcd

#7+44?;7+7>(+

o+ Rdqhdan` @LQ

Ldqh |dan` lhd|d} ldwd| lh}hew~`jdk adcd @LQ |hldj


kh`dh xdko |nq`n|dj lhdk|dqd kh`dh #%1+1770%1>401+177(

ldk kh`dh }ho xdko `nahc an}dq ldqh wdld d`wcd #7+34(+


71/78

?4

Wneadcd}dk+

Anqld}dqjdk ~fh B ldk ~fh \ ldwd| lh}hew~`jdk adcd chwi|n}h}

wnkn`h|hdk }nmdqd }he~`|dk anqwnkodq~c |nqcdldw cdqod }dcde |dwh }nmdqd

wdq}hd` |hldj dld wnkodq~c xdko }hokhbhjdk dk|dqd rdqhdan` lhe~kojhkjdk

jdqnkd rdqhdan` xdko lho~kdjdk }nlhjh| ldk }dewn` wnkn`h|hdk j~qdko an}dq+

Ldqh dkd`h}h} rdqhdan` anad} xdko lho~kdjdk ld`de eiln`, ldwd| lh

jn|dc~h adcd rdqhdan` ]~j~ A~kod ]AH enew~kxdh wnkodq~c wi}h|hb

|nqcdldw cdqod }dcde dq|hkxd ]~j~ A~kod ]AH |hldj anqwnkodq~c }hokhbhjdk

|nqcdldw cdqod }dcde+ En}jhw~k ldqh cd}h` ]~j~ A~kod ]AH |hldj

enk~kf~jjdk dld wnkodq~c xdko }hokhbhjdk |nqcdldw cdqod }dcde, |n|dwh

hkrn}|iq f~od enewnq|headkojdk \hkojd| ]~j~ A~kod ]AH }nan`~e

enkodeah` jnw~|~}dk hkrn}|d}h+

]nmdqd wdq}hd` MDQ |hldj anqwnkodq~c }hokhbhjdk |nqcdldw cdqod

}dcde+ Cd}h` hkh anq|nk|dkodk lnkodk wnkn`h|hdk Dqlhdkh, #177?( xdko

enkod|djdk adcd MDQ anqwnkodq~c }hokhbhjdk |nqcdldw cdqod }dcde,

cd}h` hkh f~od anq|nk|dkodk lnkodk |niqh xdko enkod|djdk adcd MDQ

anqwnkodq~c wi}h|hb |nqcdldw cdqod }dcde+ Cd}h` xdko lhwnqi`nc ldqh

wnkn`h|hdk hkh f~}|q~ enk~kf~jdk adcd MDQ anqwnkodq~c knod|hb |nqcdldw

cdqod }dcde, cd` hkh lh|~kf~jdk lnkodk kh`dh jinbn}hnk qnoqn}h xdko anqkh`dh

knod|hb xdh|~ %183+

]nmdqd wdq}hd` QID |hldj anqwnkodq~c }hokhbhjdk |nqcdldw cdqod

}dcde, cd}h` hkh }n}~dh lnkodk wnkn`h|hdk _hfdxdk|h #177


72/78


73/78

?=

ADA R

JN]HEW^@DK LDK ]DQDK

>+4 Jn}hew~`dk

Anqld}dqjdk cd}h` wnkn`h|hdk ldk wneadcd}dk edjd jn}hew~`dk xdko

ldwd| lhdeah` }nadodh anqhj~|6

d+ ]nmdqd }he~`|dk d|d~ anq}ded%}ded dk|dqd ]~j~ A~kod ]AH, MDQ, QID,

KWE, QIN, AIWI ldk @LQ anqwnkodq~c }nmdqd }hokhbhjdk |nqcdldw

wnq~adcdk cdqod }dcde wnq~}dcddk adkj ~e~e wnenqhk|dc lh A~q}d Nbnj

Hklikn}hd #ANH( cd` hkh |nq`hcd| lh ~fh B ldkQ }t~dqnadcd rdqhdan` anad}

edew~ enkfn`d}jdk rdqhdan` |nqhjd| }nan}dq 31,? .

a+ ]nmdqd wdq}hd` ]~j~ A~kod ]AH, MDQ, QID, KWE, QIN, AIWI ldk @LQ

|nqcdldw wnq~adcdk cdqod }dcde wnq~}dcddk wnqadkjdk lh ANH |hldj

anqwnkodq~c }nmdqd }hokhbhjdk |nqcdldw wnq~adcdk cdqod }dcde

wnq~}dcddk adkj ~e~e wnenqhk|dc lh A~q}d Nbnj Hklikn}hd #ANH( xdko

|nq`hcd| lh ~fh | ldk eiln` qnoqn}h xdko enkfn`d}jdk adcd |hldj dld

wnkodq~c dk|dqd rdqhdan` |nqcdldw cdqod }dcde+

>+1 ]dqdk

Dldw~k }dqdk xdko ldwd| wnkn`h|h anqhjdk lhdk|dqdkxd6

d+ Wnkn`h|h }n`dkf~|kxd enewnqadkxdj }dewn` wnkn`h|hdk }nchkood ldwd| cd}h`

xdko eds}hed`+

a+ Wnkn`h|h }n`dkf~|kxd enkoo~kdjdk rdqhdan`%rdqhdan` ed~w~k qd}hi

jn~dkodk xdko `nahc adkxdj }nchkood anqwnkodq~c |nqcdldw cdqod }dcde+

m+ Wnkn`h|h }n`dkf~|kxd enkmdqh eiln` qnoqn}h xdko `dhkkxd+


74/78


75/78


76/78

?2

@dewhqdk 4

@dwiqdk jn~dkodk |dc~k 1773

@dwiqdk jn~dkodk |dc~k 1778

@dwiqdk jn~deodk |dc~k 1747

|nk \i|d` D}}n| Bhs}nl

D}}n|

]nj~qh|d} @idk} Lnwi}h|i Nt~h|x Iwnqd|hko

nswn}n}

Iwnqd|hko

wqibh|

NA\ ND\

H Qw

137+>18,77

Qw

=+3=3+7?8,77

Qw

=1+>>2+4=3,77

Qw

418+=88+>2?,77

Qw

48+383+7,77

Qw

>++8+28>,77

Qw

4


77/78

??

@dewhqdk 1

CD]H@ DKD@H]H LD\D

Minbbhmhnk|}d

Eiln` Mi``hkndqh|x ]|d|h}|hm}

\i`nqdkmn RHB

4 }~j~a~kod}d}ah +11?


78/78

@dewhqdk =

DKIRDa

Eiln` ]~e ib

]t~dqn}

lb Endk ]t~dqn B ]ho+

4 Qnoqn}}hik 2>2=4=+731 ? 8=?>8+741 1+?1< +4?>d

Qn}hl~d` 4=?2>=+28= < =+>73>> +31? 1+?1< ? < +4?> 1+4=. Mikbhlnkmn Hk|nqrd`

biq A

Miqqn`d|hik}

A ]|l+ Nqqiq An|d @inq

Ai~kl

^wwnq

Ai~kl

Vnqi%

iqlnq

Wdq|hd` Wdq|

4 #Mik}|dk|( 4

Skripsi Pengaruh Tingkat Suku Bunga Dan Kinerja Keuangan Terhadap Harga Saham Bank Umum Pemerintah Yang Terdaftar Di Bursa Efek Indonesia

Documents