Apakah bank syariah indonesia semakin efisien dan stabil setelah merger?

Rizky Maulida, Misbahuddin Misbahuddin, Abdul Gafur

Abstract


Penelitian ini bertujuan untuk mendeskripsikan efisiensi dan stabilitas PT Bank Syariah Indonesia, Tbk. (BSI) setelah penggabungan dari tiga bank syariah milik pemerintah Indonesia. Pendiskripsian melalui metode uji beda dengan t-Test Paired Two Sample for Means pada efisiensi dan stabilitas sembilan periode sebelum merger dan sembilan periode setelah merger. Pengukuran efisiensi berdasarkan pada pendekatan data envelopment analysis (DEA), sementara pengukuran stabilitas berdasarkan pada Z-score. Hasil pengujian menunjukkan bahwa efisiensi dan stabilitas BSI setelah merger semakin baik secara signifikan dibandingkan efisiensi dan stabilitas tiga bank syariah (PT BRISyariah, Tbk., PT Bank Syariah Mandiri, dan PT Bank BNI Syariah). Penelitian ini merekomendasikan peningkatan efisiensi dan stabilitas BSI melalui peningkatan konsentrasi pasar berbasis teknologi dan menghindari diversifikasi pendapatan yang menjadi salah satu penyebab instabilitas bank setelah merger.


Keywords


Efisiensi; stabilitas; merger

References


Al-Khasawneh, J. A., Essaddam, N., & Hussain, T. (2020). Total productivity and cost efficiency dynamics of US merging banks: A non-parametric bootstrapped analysis of the fifth merger wave. The Quarterly Review of Economics and Finance, 78, 199–211. https://doi.org/https://doi.org/10.1016/j.qref.2020.02.002

Al-Wesabi, H. A. H., & Yusof, R. M. (2020). Capital and liquidity risks and financial stability: Pre, during and post financial crisis between islamic and conventional banks in gcc countries, in the light of oil prices decline. International Journal of Financial Research, 11(1), 329–347. https://doi.org/10.5430/IJFR.V11N1P329

Alqahtani, F., & Mayes, D. G. (2018). Financial stability of Islamic banking and the global financial crisis: Evidence from the Gulf Cooperation Council. Economic Systems, 42(2), 346–360. https://doi.org/https://doi.org/10.1016/j.ecosys.2017.09.001

Badunenko, O., & Kumbhakar, S. C. (2017). Economies of scale, technical change and persistent and time-varying cost efficiency in Indian banking: Do ownership, regulation and heterogeneity matter? European Journal of Operational Research, 260(2), 789–803. https://doi.org/https://doi.org/10.1016/j.ejor.2017.01.025

Bakir, C. (2019). How do mega-bank merger policy and regulations contribute to financial stability? Evidence from Australia and Canada. Journal of Economic Policy Reform, 22(1), 1–15. https://doi.org/10.1080/17487870.2017.1307112

Banna, H., Alam, M. D. R., Ahmad, R., & Sari, N. M. A. T. (2020). Dosen financial inclusion drive the Islamic Banking Efficiency? A post-financial crisis analysis. The Singapore Economic Review, 1–26. https://doi.org/10.1142/S0217590819420050

Barth, J. R., Lin, C., Ma, Y., Seade, J., & Song, F. M. (2013). Do bank regulation, supervision and monitoring enhance or impede bank efficiency? Journal of Banking & Finance, 37(8), 2879–2892. https://doi.org/https://doi.org/10.1016/j.jbankfin.2013.04.030

Beck, T., De Jonghe, O., & Schepens, G. (2013). Bank competition and stability: Cross-country heterogeneity. Journal of Financial Intermediation, 22(2), 218–244. https://doi.org/https://doi.org/10.1016/j.jfi.2012.07.001

Beck, T., Demirgüç-Kunt, A., & Merrouche, O. (2013). Islamic vs. conventional banking: Business model, efficiency and stability. Journal of Banking & Finance, 37(2), 433–447. https://doi.org/https://doi.org/10.1016/j.jbankfin.2012.09.016

Berger, A. N., Boubakri, N., Guedhami, O., & Li, X. (2019). Liquidity creation performance and financial stability consequences of Islamic banking: Evidence from a multinational study. Journal of Financial Stability, 44. https://doi.org/10.1016/j.jfs.2019.100692

Bitar, M., Pukthuanthong, K., & Walker, T. (2018). The effect of capital ratios on the risk, efficiency and profitability of banks: Evidence from OECD countries. Journal of International Financial Markets, Institutions and Money, 53, 227–262. https://doi.org/https://doi.org/10.1016/j.intfin.2017.12.002

Bokpin, G. A. (2013). Ownership structure, corporate governance and bank efficiency: an empirical analysis of panel data from the banking industry in Ghana. Corporate Governance: The International Journal of Business in Society, 13(3), 274–287. https://doi.org/10.1108/CG-05-2010-0041

Chan, S. G., Karim, M. Z. A., Burton, B., & Aktan, B. (2014). Efficiency and risk in commercial banking: empirical evidence from East Asian countries. The European Journal of Finance, 20(12), 1114–1132. https://doi.org/10.1080/1351847X.2012.745008

Chao, C.-M., Yu, M.-M., Hsiung, N.-H., & Chen, L.-H. (2018). Profitability efficiency, marketability efficiency and technology gaps in Taiwan’s banking industry: meta-frontier network data envelopment analysis. Applied Economics, 50(3), 233–250. https://doi.org/10.1080/00036846.2017.1316827

Cook, W. D., Tone, K., & Zhu, J. (2014). Data envelopment analysis: Prior to choosing a model. Omega, 44, 1–4. https://doi.org/https://doi.org/10.1016/j.omega.2013.09.004

Ferhi, A. (2018). Credit risk and banking stability: a comparative study between Islamic and conventional banks. International Journal of Law and Management, 60(4), 1009–1019. https://doi.org/10.1108/IJLMA-05-2017-0112

Halkos, G. E., Matousek, R., & Tzeremes, N. G. (2016). Pre-evaluating technical efficiency gains from possible mergers and acquisitions: evidence from Japanese regional banks. Review of Quantitative Finance and Accounting, 46(1), 47–77. https://doi.org/10.1007/s11156-014-0461-5

Hassan, M. K., Khan, A., & Paltrinieri, A. (2019). Liquidity risk, credit risk and stability in Islamic and conventional banks. Research in International Business and Finance, 48, 17–31. https://doi.org/https://doi.org/10.1016/j.ribaf.2018.10.006

Hassen, T., Fakhri, I., Bilel, A., Wassim, T., & Faouzi, H. (2018). Dynamic Effects of Mergers and Acquisitions on the Performance of Commercial European Banks. Journal of the Knowledge Economy, 9(3), 1032–1048. https://doi.org/DOI: 10.1007/s13132-016-0389-1,

Healey, D. J., & Chenying, Z. (2017). Bank Mergers in China: What Role for Competition? Asian Journal of Comparative Law, 12(1), 81–114. https://doi.org/DOI: 10.1017/asjcl.2017.2

Ibrahim, M. H., & Rizvi, S. A. R. (2017). Do we need bigger Islamic banks? An assessment of bank stability. Journal of Multinational Financial Management, 40, 77–91. https://doi.org/https://doi.org/10.1016/j.mulfin.2017.05.002

Jagtiani, J., Kotliar, I., & Maingi, R. Q. (2016). Community bank mergers and their impact on small business lending. Journal of Financial Stability, 27, 106–121. https://doi.org/https://doi.org/10.1016/j.jfs.2016.10.005

Kabir, M. N., & Worthington, A. C. (2017). The ‘competition–stability/fragility’ nexus: A comparative analysis of Islamic and conventional banks. International Review of Financial Analysis, 50, 111–128. https://doi.org/https://doi.org/10.1016/j.irfa.2017.02.006

Khan, H. H., Kutan, A. M., Naz, I., & Qureshi, F. (2017). Efficiency, growth and market power in the banking industry: New approach to efficient structure hypothesis. The North American Journal of Economics and Finance, 42, 531–545. https://doi.org/https://doi.org/10.1016/j.najef.2017.08.004

Korbi, F., & Bougatef, K. (2017). Regulatory capital and stability of Islamic and conventional banks. International Journal of Islamic and Middle Eastern Finance and Management, 10(3), 312–330. https://doi.org/10.1108/IMEFM-06-2016-0079

Lassoued, M. (2018). Corporate governance and financial stability in Islamic banking. Managerial Finance, 44(5), 524–539. https://doi.org/10.1108/MF-12-2016-0370

Le, T. (2016). Do Bank Mergers and Acquisitions Improve Technical Efficiency of Vietnamese Commercial Banks? SSRN Electronic Journal, December. https://doi.org/10.2139/ssrn.2647244

Lee, T.-H., & Chih, S.-H. (2013). Does financial regulation affect the profit efficiency and risk of banks? Evidence from China’s commercial banks. The North American Journal of Economics and Finance, 26, 705–724. https://doi.org/https://doi.org/10.1016/j.najef.2013.05.005

Li, X., Xie, Y., & Lin, J.-H. (2021). COVID-19 outbreak, government capital injections, and shadow banking efficiency. Applied Economics, 53(4), 495–505. https://doi.org/10.1080/00036846.2020.1808183

Loveland, R., & Okoeguale, K. (2016). Uncertainty or Misvaluation? New Evidence on Determinants of Merger Activity from the Banking Industry. Financial Review, 51(2), 225–261. https://doi.org/10.1111/fire.12099

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. https://doi.org/https://doi.org/10.1016/j.fbj.2017.11.001

Moyo, B. (2018). An analysis of competition, efficiency and soundness in the South African banking sector. South African Journal of Economic and Management Sciences; Vol 21, No 1 (2018)DO - 10.4102/Sajems.V21i1.2291 . https://sajems.org/index.php/sajems/article/view/2291

Ngo, T., & Le, T. (2019). Capital market development and bank efficiency: a cross-country analysis. International Journal of Managerial Finance, 15(4), 478–491. https://doi.org/10.1108/IJMF-02-2018-0048

Parsa, M. (2020). Efficiency and stability of Islamic vs. conventional banking models: a meta frontier analysis. Journal of Sustainable Finance & Investment, 1–21. https://doi.org/10.1080/20430795.2020.1803665

Patel, R. (2018). Pre & Post-Merger Financial Performance: An Indian Perspective. Journal of Central Banking Theory and Practice, 7(3), 181–200. https://doi.org/doi:10.2478/jcbtp-2018-0029

Phan, H. T., Anwar, S., Alexander, W. R. J., & Phan, H. T. M. (2019). Competition, efficiency and stability: An empirical study of East Asian commercial banks. The North American Journal of Economics and Finance, 50, 100990. https://doi.org/https://doi.org/10.1016/j.najef.2019.100990

Rashid, A., Yousaf, S., & Khaleequzzaman, M. (2017). Does Islamic banking really strengthen financial stability? Empirical evidence from Pakistan. International Journal of Islamic and Middle Eastern Finance and Management, 10(2), 130–148. https://doi.org/10.1108/IMEFM-11-2015-0137

Riahi, Y. (2020). Examining the relationship between bank stability and earnings quality in Islamic and conventional banks. International Journal of Islamic and Middle Eastern Finance and Management, 13(5), 803–826. https://doi.org/10.1108/IMEFM-10-2018-0328

Sarkar, S., Sensarma, R., & Sharma, D. (2019). The relationship between risk, capital and efficiency in Indian banking: Does ownership matter? Journal of Financial Economic Policy, 11(2), 218–231. https://doi.org/10.1108/JFEP-05-2018-0074

Sharma, D. (2018). Stock Market Performance and Efficiency of Banks in a Developing Economy: Evidence from the Indian Banking Sector. IIM Kozhikode Society & Management Review, 7(2), 178–193. https://doi.org/10.1177/2277975218770502

Shi, X., Li, Y., Emrouznejad, A., Xie, J., & Liang, L. (2017). Estimation of potential gains from bank mergers: A novel two-stage cost efficiency DEA model. Journal of the Operational Research Society, 68(9), 1045–1055. https://doi.org/10.1057/s41274-016-0106-2

Sufian, F., & Kamarudin, F. (2017). Forced Mergers on Bank Efficiency and Productivity: Evidence from Semi-parametric Malmquist Productivity Index. Global Business Review, 18(1), 19–44. https://doi.org/10.1177/0972150916666850

Sulaiman @ Mohamad, A. A., Mohamad, M. T., & Hashim, S. A. (2018). Islamic Versus Conventional Banking. In A. A. Rahman (Ed.), New Developments in Islamic Economics (pp. 119–214). Emerald Publishing Limited. https://doi.org/10.1108/978-1-78756-283-720181013

Tan, Y. (2017). Risk, Competition, and Efficiency in Chinese Banking: The Role of Interest Rate Liberalization. SSRN Electronic Journal, 1–47. https://doi.org/10.2139/ssrn.2949045

Tan, Y., & Floros, C. (2013). Risk, capital and efficiency in Chinese banking. Journal of International Financial Markets, Institutions and Money, 26, 378–393. https://doi.org/https://doi.org/10.1016/j.intfin.2013.07.009

Tzeremes, N. G. (2015). Efficiency dynamics in Indian banking: A conditional directional distance approach. European Journal of Operational Research, 240(3), 807–818. https://doi.org/https://doi.org/10.1016/j.ejor.2014.07.029

Usmany, L. R., & Badjra, I. B. (2019). Perbedaan kinerja keuangan Bank OCBC NISP sebelum dan sesudah merger di Indonesia. E-Jurnal Manajemen; Vol 8 No 8 (2019)DO - 10.24843/EJMUNUD.2019.V08.I08.P12. https://ojs.unud.ac.id/index.php/Manajemen/article/view/46622

Wang, Y., Xiuping, S., & Zhang, Q. (2021). Can fintech improve the efficiency of commercial banks? —An analysis based on big data. Research in International Business and Finance, 55, 101338. https://doi.org/https://doi.org/10.1016/j.ribaf.2020.101338

Wanke, P., Azad, M. D. A. K., & Barros, C. P. (2016). Predicting efficiency in Malaysian Islamic banks: A two-stage TOPSIS and neural networks approach. Research in International Business and Finance, 36, 485–498. https://doi.org/https://doi.org/10.1016/j.ribaf.2015.10.002

Wanke, P., Barros, C. P., Azad, M. A. K., & Constantino, D. (2016). The Development of the Mozambican Banking Sector and Strategic Fit of Mergers and Acquisitions: A Two-Stage DEA Approach. African Development Review, 28(4), 444–461. https://doi.org/10.1111/1467-8268.12223

Yeboah, J., & K. Asirifi, E. (2016). Mergers and Acquisitions on Operational Cost Efficiency of Banks in Ghana: A Case of Ecobank and Access Bank. International Journal of Business and Management, 11(6), 241. https://doi.org/10.5539/ijbm.v11n6p241

Zheng, C., Das Gupta, A., & Moudud-Ul-Huq, S. (2017). Do market competition and development indicators matter for banks’ risk, capital, and efficiency relationship? International Journal of Financial Engineering, 04(02n03), 1750027. https://doi.org/10.1142/S242478631750027X




DOI: https://doi.org/10.30872/jinv.v18i1.10494

Refbacks

  • There are currently no refbacks.


Copyright (c) 2022 Rizky Maulida, Misbahuddin Misbahuddin, Abdul Gafur

Crossref logo 

Editorial Address

INOVASI: Jurnal ekonomi, keuangan dan manajemen
Faculty of Economics and Business, Mulawarman University
Jl. Tanah Grogot No.1 Samarinda Kalimantan Timur 75119
Email: jakt.feb.unmul@gmail.com

StatCounter: INOVASI: Jurnal ekonomi, keuangan dan manajemen