Apakah Terjadi Perpindahan Simpanan Nasabah Bank Kecil Ke Bank Besar (Flight to Quality) Pada Saat Krisis Pandemi Covid-19?

Hasan Ashari, Trinandari Prasetyo Nugrahanti


This paper aims to explain whether flight to quality or the transfer of deposit funds from small banks to large banks actually occurred during the Covid-19 pandemic crisis as suspected by banking analysts. This research is descriptive research with a quantitative approach. The secondary data source in this study was obtained from the website of the Indonesia Deposit Insurance Corporation which lists the value of Commercial Bank Deposits from July 2013 to d. July 2020. Analysis of the data using panel data regression analysis. The results of this study conclude that 1) the Covid-19 pandemic does not significantly affect the performance of small banks in collecting deposits, 2) the Covid-19 pandemic causes flight to quality small bank deposits, namely Book 1 banks, Islamic banks, and regional banks to category banks. others who have large assets and 3) Economic growth does not affect the performance of small banks in collecting deposits during the Covid-19 Pandemic.

How to Cite:

Ashari, H., & Nugrahanti, T. P. (2021). Apakah Terjadi Perpindahan Simpanan Nasabah Bank Kecil ke Bank Besar (Flight to Quality) Pada Saat Krisis Pandemi Covid-19? Akuntabilitas: Jurnal Ilmu Akuntansi, 14(2), 215-230.


flight to quality; covid-19 pandemic; customers' saving

Full Text:



Gatev, Evan., & Strahan, PE. (2006). Banks' Advantage in Hedging Liquidity Risk: Theory and Evidence from the Commercial Paper Market. Journal of Finance, Volume 61, Issue 2.

Martinez-Peria, MS, & Schmukler, SL. (2001). Do Depositors Punish Banks for Bad Behavior? Market Discipline, Deposit Insurance, and Banking Crises. Journal of Finance. Volume 56, Issue 3.

Brewer, Elijah, and Thomas H Mondschean, (1994), An Empirical Test of the Incentive Effects of Deposit Insurance: The Case of Junk Bonds at Savings and Loan Associations, Journal of Money, Credit and Banking, 26, (1), 146-64.

Albertazzi, Ugo and Marchetti, Domenico Junior. 2010. Credit Supply, Flight to Quality and Evergreening: An Analysis of Bank-Firm Relationships after Lehman. Bank of Italy Temi di Discussione (Working Paper) No. 756.

Acharya, VV., & Mora, N. (2012) Are Banks Passive Liquidity Backstops? Deposit Rates and Flows during the 2007-2009 Crisis NBER Working Paper No. 17838 February 2012.

Armstrong, G., & Kotler, P. (2008). Principles of Marketing: A Global Perspective.

Ashari, H., & Nugrahanti, T.P. (2018). Metode likuidasi bank pada bank perkreditan rakyat. Jurnal Riset Akuntansi dan Keuangan, 6(3), 333-348.

Baye, M. R., 2009. Managerial Economics and Business Strategy, 6th ed. McGraw- Hill: Singapore

Bradley, B., Taqqu, M., 2005, Empirical evidence on spatial contagion between financial markets. Finance Letters 3, 77-86.

Caballero, R., Krishnamurthy, A., 2008, Collective risk management in a flight to quality episode. Journal of Finance 63, 2195-2230.

Chang, Chiu-Lan & Hsueh, Paul. (2013). An Investigation of the Flight-to-Quality Effect: Evidence from Asia-Pacific Countries. Emerging Markets Finance and Trade. 49. 53-69. 10.2753/REE1540-496X4905S404.

Caballero, R.J., & Kurlat, P. (2008). Flight to Quality and Bailouts: Policy Remarks and a Literature Review. Monetary Economics.

De Bandt, O., P. Hartmann, and J. Peydró, 2009, Systematic risk in banking: An update. Oxford Handbook of Banking, edited by A. Berger, P. Molyneux, and J. Wilson.

Dia, Enzo (2013) How do banks respond to shocks? A dynamic model of deposit-taking institutions, Journal of Banking & Finance, Volume 37, Issue 9, 2013, Pages 3623-3638.

Dymski, Gary. (2002). The Global Bank Merger Wave: Implications for Developing Countries. The Developing Economies. 40. 435 - 466. 10.1111/j.1746-1049.2002. tb 00922.x.

Gilbert, R., (1984), Bank Market Structure and Competition: A Survey, Journal of Money, Credit and Banking, 16, issue 4, p. 617-44.

Gujarati, D.N, dan Porter, D.C. 2011, Econometrics Fifth Edition, McGraw-Hill, New York.

Holmstrom, B., Tirole, J. 1998, Private and public supply of liquidity. Journal of Political Economy, 106, 1-40.

Inci, A.C., H.C. Li, and J. McCarthy, 2011, Measuring Flight to Quality: A Local Correlation Analysis. Review of Accounting and Finance 10, 69-87.

Inci, A. Can; Li, Hsi; and McCarthy, Joseph, 2014, "Flight to Quality for Large Financial Institutions" (2014). Finance Journal Articles. Paper 32.

Hasan, lIftekhar., Jackowicz, Krzysztof., Kowalewski, Oskar., Kozłowski, Łukasz. (2013). Market Discipline During Crisis: Evidence from Bank Depositors in Transition Countries. Journal of Banking & Finance Volume 37, Issue 12, December 2013, Pages 5436-5451.

Hess, Kurt., & Feng, Gary., (2007). Is there market discipline for New Zealand non-bank financial institutions? Journal of International Financial Markets, Institutions and Money Volume 17, Issue 4, 326-340.

Kreps, David M., 1990, A Course in Microeconomics Theory First Edition, Princeton University Press, New Jearsey.

Lipezynski, John; Wilson, John; dan Goddard, John, 2005, Industrial Organization: Competition, Strategy, and Policy Prentice Hall, Second Edition, England.

Maechler, Andrea M., McDill, Kathleen M. (2006). Dynamic Depositor Discipline in US Banks. Journal of Banking & Finance Volume 30, Issue 7, July 2006, Pages 1871-1898.

Martin, Stephen, 1994, Industrial Economics: Economic Analysis and Public Policy (2nd Edition). Macmillan Publishing Company, New York.

Martin, Stephen, 2005, Remembrance of Things Past: Antitrust, Ideology, and the Development of Industrial Economic, Working Paper, Department of Economics Purdue University, Indiana.

Nugrahanti TP, (2016), Risk Assessment and Earning Management in Banking of Indonesia: Corporate Governance Mechanisms, Global Journal of Business and Social Science Review, 4(1), 1-9.

Ravenscraft, D.J. and Scherer, F.M. (1989) The Profitability of Mergers. International Journal of Industrial Organization, 7, 101-116.

Shimizu, Katsutoshi. (2009). Is the information produced in the stock market useful for depositors? Finance Research Letters Volume 6, Issue 1, 34-39.

Stigler, G. J., 1964. The Journal of Political Economy, 72, (1), 44-61.

Tirole, J., 1989, The Theory Industrial Organization, Second Edition, MIT Press.

Uchida, Hirofumi., Satake, Mitsuhiko. (2009). Market discipline and bank efficiency. Journal of International Financial Markets, Institutions and Money Volume 19, Issue 5, 792-802

William W. Lang, Leonard I. Nakamura, (1995) ‘Flight to quality’ in banking and economic activity, Journal of Monetary Economics, Volume 36, Issue 1, 1995, Pages 145-164.

https://www.lps.go.id/web/guest/riset/-/asset_publisher/LhOwRpOjB8hD/ content/ datadistribusi-simpanan (diakses 21 Desember 2020).

https://www.ojk.go.id/id/kanal/perbankan/data-dan-statistik/statistik-perbankan-indonesia/Default.aspx (diakses 21 Desember 2020).

DOI: https://doi.org/10.15408/akt.v14i2.20623 Abstract - 0 PDF - 0


  • There are currently no refbacks.

Published by
Department of Accounting, Faculty of Economic and Business,
Syarif Hidayatullah State Islamic University

Jl. Ir. H. Juanda no 95, Ciputat 15412, Tangerang Selatan, Banten, Indonesia
Phone:+62(21) 7493318, Fax.: +62 (21) 7496006. e-Mail: akuntabilitas@uinjkt.ac.id 

View My Stats License

This work is licensed under CC BY-SA