PENGARUH ANALISIS RASIO KEUANGAN, RASIO PASAR DAN KEBIJAKAN DEVIDEN TERHADAP HARGA SAHAM (Studi Empiris pada Perusahaan Kelompok Saham LQ-45 Di BEI)

Frans Sudirjo

Sari


Abstraksi

Penelitian ini berjudul Pengaruh Analisis Rasio Keuangan, Rasio Pasar Dan Kebijakan Deviden Terhadap Harga Saham (Studi Empiris pada Perusahaan Kelompok Saham LQ-45 di BEI).Sampel yang digunakan adalah 20 perusahaan yang sahamnya konsisten terdaftar dalam kelompok saham LQ-45 selama 3 periode penelitian mulai 2009-2011.Metode analisis data yang digunakan dalam penelitian ini menggunakan Analisis Regresi Linier Berganda. Tujuan dari penelitian ini untuk mengetahui analisis pengaruh Current Ratio, Debt to Equity Ratio, Total Assets Turnover, Return On Assets, Price Earning Ratio dan Devidend Payout Ratio (Kebijakan Deviden) sebagai variabel independen terhadap harga saham  pada Perusahaan Kelompok Saham LQ-45 di BEI sebagai variabel dependen.

Hasil penelitian ini menyatakan bahwa Current Ratio, Total Assets Turnover,  Return On Assets, Price Earning Ratio dan Devident Payout Ratio secara parsial  berpengaruh positif dan signifikan terhadap  Harga Saham, sedangkan variabel Debt to Equity Ratio tidak berpengaruh terhadap Harga Saham.

Berdasarkan hasil penelitian dapat disimpulkan bahwa semakin tinggi Current Ratio, Total Assets Turnover,  Return On Assets, Price Earning Ratio dan Devident Payout Ratio yang dimiliki Perusahaan pada Kelompok Saham LQ-45 maka harga sahamnya pun semakin tinggi. Sedangkan Debt to Equity Ratio tidak mempengaruhi secara signifikan dan mempunyai hubungan negatif terhadap harga saham.

Kata kunci :  Current Ratio, Debt to Equity Ratio, Total Assets Turnover, Return On Assets, Price Earning Ratio, Devidend Payout Ratio, Harga Saham.

 

Abstraction

This study entitled Effect of Financial Ratio Analysis, Market Ratio and Dividend Policy on Stock Prices (Empirical Study on LQ-45 Stock Group Companies on the IDX). The sample used is 20 companies whose shares are consistently registered in the LQ-45 stock group for 3 study periods from 2009-2011. Data analysis methods used in this study used Multiple Linear Regression Analysis. The purpose of this study was to determine the analysis of the effect of Current Ratio, Debt to Equity Ratio, Total Assets Turnover, Return On Assets, Price Earning Ratio and Devidend Payout Ratio as independent variables on stock prices in LQ-45 Stock Group Companies on the IDX as the dependent variable.

The results of this study state that the Current Ratio, Total Assets Turnover, Return On Assets, Price Earning Ratio and Devident Payout Ratio partially have a positive and significant effect on Stock Prices, while the Debt to Equity Ratio variable does not affect the Stock Price.

Based on the results of the study it can be concluded that the higher the Current Ratio, Total Assets Turnover, Return On Assets, Price Earning Ratio and the Devident Payout Ratio that the Company has on the LQ-45 Stock Group, the higher the stock price. While the Debt to Equity Ratio does not affect significantly and has a negative relationship to stock prices.

Keywords: Current Ratio, Debt to Equity Ratio, Total Assets Turnover, Return On Assets, Price Earning Ratio, Devidend Payout Ratio, Stock Price.

Kata Kunci


Current Ratio, Debt to Equity Ratio, Total Assets Turnover, Return On Assets, Price Earning Ratio, Devidend Payout Ratio, Harga Saham

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