Institutional Repository UIN Sunan Kalijaga YogyakartaPENGARUH FAKTOR FUNDAMENTAL DAN RISIKO SISTEMIK TERHADAP HARGA SAHAM PERBANKAN SYARIAH YANG TERDAFTAR DI BURSA EFEK INDONESIA (PERIODE 2021-2024)NIM.: 21108020136Aswin Ilham HernandaauthorThe development of the capital market has encouraged Islamic banking in Indonesia to understand the factors influencing stock prices, including fundamental factors and systemic risk. This study explores how fundamental factors and systemic risk affect the stock prices of Islamic banks listed on the Indonesia Stock Exchange (IDX) from 2021 to 2024. The analyzed factors include Non-Performing Financing (NPF), Return on Equity (ROE), Financing to Deposit Ratio (FDR), total assets, Capital Adequacy Ratio (CAR), Net Operating Margin (NOM), and systemic risk measured using Beta from the Capital Asset Pricing Model (CAPM). Using panel data regression analysis in E-Views 13, the study examines the extent to which these factors impact stock prices. The results indicate that NPF positively affects Islamic bank stock prices, contrary to the usual perception that high NPF is negative. This is attributed to improved transparency in managing problematic financing, which boosts investor confidence when NPF remains at a healthy level. In contrast, ROE has a negative effect on stock prices, as fluctuating ROE during the study period led investors to perceive profitability as unstable, causing stock prices to decline. Total assets and CAR positively influence stock prices, reflecting the bank’s stability and strength. FDR and systemic risk (Beta) are found to be insignificant, suggesting that investors pay more attention to internal bank factors. These findings provide important insights for investors and Islamic bank management in making investment decisions and policies that support stable growth.332.1 Banks/Bank, Perbankan2026-06-05UIN SUNAN KALIJAGA YOGYAKARTA;FAKULTAS EKONOMI DAN BISNIS ISLAMThesis

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