ANALISIS PENGARUH FAKTOR FUNDAMENTAL (RETURN ON ASSETS, RETURN ON EQUITY DAN DEBT TO EQUITY RATIO) TERHADAP HARGA SAHAM PERUSAHAAN KEUANGAN DAN NON KEUANGAN DI BURSA EFEK INDONESIA
For a rational investor, a fundamental aspect always be considerable concern in assesing the expected return. In this term the investor assesing the share through the internal side of company. Fundamental aspect in this research is represented using profitability ratios that proxy by Return on Asset...
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| Format: | Thesis |
| Published: |
[Yogyakarta] : Universitas Gadjah Mada
2013
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| _version_ | 1797034407862730752 |
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| author | , Mega Muhamad , Prof. Dr. Jogiyanto HM., MBA |
| author_facet | , Mega Muhamad , Prof. Dr. Jogiyanto HM., MBA |
| author_sort | , Mega Muhamad |
| collection | UGM |
| description | For a rational investor, a fundamental aspect always be considerable
concern in assesing the expected return. In this term the investor assesing the
share through the internal side of company. Fundamental aspect in this research
is represented using profitability ratios that proxy by Return on Assets (ROA) and
Return On Equity (ROE) and capital structure proxy by Debt to Equity Ratio
(DER). The differences in the characteristics of the financial and non-financial
companies are expected may affect the relationship of its fundamental factors
(ROA, ROE and DER) and the share price.
This research aims to examine the influence of fundamental factors
represented by ROA, ROE and DER on share prices and analyzing whether there
is a significant difference of influences of these factors on share prices in
financial and non-financial companies. The data used in this research is
secondary data related to the company's financial statements and share prices for
companies listed in Indonesia Stock Exchange with the observation period of
2006 through 2011. Sampling methods in this research use purposive sampling.
This research used 194 companies as samples, consist of 46 financial companies
and 148 non-financial companies.
The method used to analyze the influence of fundamental factors (ROA,
ROE and DER) on share prices in financial and non-financial companies is using
multiple regression analysis. F test results show that the ROA, ROE and DER
simultaneously have a significant influence on the share price both of financial
companies and non-financial companies. The results of t test from regression of
financial companies shows that ROE and DER partially have significantly
positive effect on share prices, while ROA has affect share prices negatively.
While the results of t test in non-financial companies shows that DER and ROA
have positive and influencing on share prices, meanwhile ROE has a positive
influence on share prices, but not significantly. Based on the results using chow
test and multiple regression using dummy variables concluded that the effect of
ROA, ROE and DER on share price in financial and non-financial companies are
differ significantly. This research shows that the differences between financial and
non financial companies brings a different influence of ROA, ROE and DER on
the share price so that it can be taken into consideration for investors in shares
investing in the stock market. |
| first_indexed | 2024-03-13T23:11:15Z |
| format | Thesis |
| id | oai:generic.eprints.org:125624 |
| institution | Universiti Gadjah Mada |
| last_indexed | 2024-03-13T23:11:15Z |
| publishDate | 2013 |
| publisher | [Yogyakarta] : Universitas Gadjah Mada |
| record_format | dspace |
| spelling | oai:generic.eprints.org:1256242016-03-04T08:40:45Z https://repository.ugm.ac.id/125624/ ANALISIS PENGARUH FAKTOR FUNDAMENTAL (RETURN ON ASSETS, RETURN ON EQUITY DAN DEBT TO EQUITY RATIO) TERHADAP HARGA SAHAM PERUSAHAAN KEUANGAN DAN NON KEUANGAN DI BURSA EFEK INDONESIA , Mega Muhamad , Prof. Dr. Jogiyanto HM., MBA ETD For a rational investor, a fundamental aspect always be considerable concern in assesing the expected return. In this term the investor assesing the share through the internal side of company. Fundamental aspect in this research is represented using profitability ratios that proxy by Return on Assets (ROA) and Return On Equity (ROE) and capital structure proxy by Debt to Equity Ratio (DER). The differences in the characteristics of the financial and non-financial companies are expected may affect the relationship of its fundamental factors (ROA, ROE and DER) and the share price. This research aims to examine the influence of fundamental factors represented by ROA, ROE and DER on share prices and analyzing whether there is a significant difference of influences of these factors on share prices in financial and non-financial companies. The data used in this research is secondary data related to the company's financial statements and share prices for companies listed in Indonesia Stock Exchange with the observation period of 2006 through 2011. Sampling methods in this research use purposive sampling. This research used 194 companies as samples, consist of 46 financial companies and 148 non-financial companies. The method used to analyze the influence of fundamental factors (ROA, ROE and DER) on share prices in financial and non-financial companies is using multiple regression analysis. F test results show that the ROA, ROE and DER simultaneously have a significant influence on the share price both of financial companies and non-financial companies. The results of t test from regression of financial companies shows that ROE and DER partially have significantly positive effect on share prices, while ROA has affect share prices negatively. While the results of t test in non-financial companies shows that DER and ROA have positive and influencing on share prices, meanwhile ROE has a positive influence on share prices, but not significantly. Based on the results using chow test and multiple regression using dummy variables concluded that the effect of ROA, ROE and DER on share price in financial and non-financial companies are differ significantly. This research shows that the differences between financial and non financial companies brings a different influence of ROA, ROE and DER on the share price so that it can be taken into consideration for investors in shares investing in the stock market. [Yogyakarta] : Universitas Gadjah Mada 2013 Thesis NonPeerReviewed , Mega Muhamad and , Prof. Dr. Jogiyanto HM., MBA (2013) ANALISIS PENGARUH FAKTOR FUNDAMENTAL (RETURN ON ASSETS, RETURN ON EQUITY DAN DEBT TO EQUITY RATIO) TERHADAP HARGA SAHAM PERUSAHAAN KEUANGAN DAN NON KEUANGAN DI BURSA EFEK INDONESIA. UNSPECIFIED thesis, UNSPECIFIED. http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=65793 |
| spellingShingle | ETD , Mega Muhamad , Prof. Dr. Jogiyanto HM., MBA ANALISIS PENGARUH FAKTOR FUNDAMENTAL (RETURN ON ASSETS, RETURN ON EQUITY DAN DEBT TO EQUITY RATIO) TERHADAP HARGA SAHAM PERUSAHAAN KEUANGAN DAN NON KEUANGAN DI BURSA EFEK INDONESIA |
| title | ANALISIS PENGARUH FAKTOR FUNDAMENTAL (RETURN ON ASSETS, RETURN ON EQUITY DAN DEBT TO EQUITY RATIO) TERHADAP HARGA SAHAM PERUSAHAAN KEUANGAN DAN NON KEUANGAN DI BURSA EFEK INDONESIA |
| title_full | ANALISIS PENGARUH FAKTOR FUNDAMENTAL (RETURN ON ASSETS, RETURN ON EQUITY DAN DEBT TO EQUITY RATIO) TERHADAP HARGA SAHAM PERUSAHAAN KEUANGAN DAN NON KEUANGAN DI BURSA EFEK INDONESIA |
| title_fullStr | ANALISIS PENGARUH FAKTOR FUNDAMENTAL (RETURN ON ASSETS, RETURN ON EQUITY DAN DEBT TO EQUITY RATIO) TERHADAP HARGA SAHAM PERUSAHAAN KEUANGAN DAN NON KEUANGAN DI BURSA EFEK INDONESIA |
| title_full_unstemmed | ANALISIS PENGARUH FAKTOR FUNDAMENTAL (RETURN ON ASSETS, RETURN ON EQUITY DAN DEBT TO EQUITY RATIO) TERHADAP HARGA SAHAM PERUSAHAAN KEUANGAN DAN NON KEUANGAN DI BURSA EFEK INDONESIA |
| title_short | ANALISIS PENGARUH FAKTOR FUNDAMENTAL (RETURN ON ASSETS, RETURN ON EQUITY DAN DEBT TO EQUITY RATIO) TERHADAP HARGA SAHAM PERUSAHAAN KEUANGAN DAN NON KEUANGAN DI BURSA EFEK INDONESIA |
| title_sort | analisis pengaruh faktor fundamental return on assets return on equity dan debt to equity ratio terhadap harga saham perusahaan keuangan dan non keuangan di bursa efek indonesia |
| topic | ETD |
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