Pengaruh kandungan informasi kinerja keuangan perusahaan terhadap perubahan harga saham pada perusahaan manufaktur yang terdaftar dalam BEI
Intan Listya Purwandari - F0205090 - Fak. Ekonomi dan Bisnis
The research have a purpose to test company’s finance performance influence to share price change which enlist in BEI during period 2004, 2005, and 2006. The performance company’s finance measured with the following ratio of ROE, DEP, PER, EPS, and DPS. The research use sekunder data with manufakturing business population which enlist in BEI during period 2004, 2005, and 2006. Intake of sampel company in this research pursuant to sampling purpose technique, where used by criterian is : (i) emiten which enlist in BEI in the year 2004, 2005, and 2006, (ii) emiten which have figured in its financial statement completely for the year of book 2004, 2005, and 2006, (iii) manufacturing business owning complete ratio data which required, that is DER, ROE, EPS, PER, and DPS in this research during 3 year that is 2004, 2005, and 2006, and (iv) company alloting deviden in the year 2004, 2005, and 2006. So that obtained by 24 chosen manufacturing business as sampel.
Raised by hypothesis there is 5 that is (H1) anticipated there is influence which measured company’s finance performance significant with ROE to share price change, (H2) anticipated there is influence which measured company’s finance performance significant with DER to share price change, (H3) anticipated there is influence which measured company’s finance performance significant with PER to share price change, (H4) anticipated there is influence which measured company’s finance performance significant with EPS to share price change, (H5) anticipated there is influence which measured company’s finance performance significant with DPS to share price change. Used analysis method in this research is model equation of multiplt regression. Examination of hypothesis by using classic assumption test, F test, T test, and goodness of fit test.
Result of data normalitas analysis indicate that by using Kolmogorov Smirnov test in the year 2004, 2005, and 2006 obtained calculation assess signifikansi more than 0,05, have normal distribution. Pursuant to result of examination classic assumption, used variable in this research do not happened multikolineritas and heteroskedastisitas. Result of T test (parsial) indicate that DER variable during 3 year successively do not have an effect on to share price change with signifikan storey above 0,05 that is 0,122 (year 2004), 0,646 (year 2005), and 0,427 (year 2006). While EPS and DPS during 3 year successively have an effect on to share price change with signifikansi storey;level below/under 0,05. To result of f test (at a time) indicate that simultaneously finance ratio (ROE, DER, PER, EPS, and DPS) having an effect on to share price change in the year 2004, 2005, and 2006.
Raised suggestion in this research shall be as follows:
1. Besides analyse to company's finance performance (internal condition of company), in approximating movement of share price, investor also have to analyse factors coming from outside company (condition of company ekstern) related to condition of effect commerce, for example like inflation rate, rate of interest storey, valas rate fluctuation, transaction volume and environment condition including political and economic stability, upon which consideration analyse before taking decision to invest its fund in the form of share.
2. To emiten can improve its finance performance by improving EPS and DPS value so that at the height of EPS and DPS value, can improve also its share price and this will give company prospect which is either in a period to to come. Way of improving EPS for example : (1)management of good fund so that improve profit, (2)optimal specifying capital structure to company, (3)improving advantage, (4)improving sale volume, and others. While way of to increase assess DPS for example with: (1)improving advantage storey who capable to be reached by company, (2)conduction rotation of company asset, (3)improving storey growth of company, (4)managing company asset better, and others.
3. For the research of hereinafter which of a kind better be conducted by adding other factor or other finance ratio as independent variable, because very conducive other finance ratio which is not packed into this research which have an effect on to share price change.