Pengaruh return on asset (roa), debt to equity ratio (der), earning pershare (eps), price earning ratio (per) terhadap return saham (studi pada perusahaan manufaktur yang terdaftar di bursa efek Indonesia)

Hartati

ABSTRAK This research aims to examine the effect of return on asset, debt to equity ratio, earning per share, price earning ratio on the stock return in the manufacturing company enlisted in Indonesian stock exchange during 2005-2008 period with the company size as the control variable. The population of research was the manufacturing companies enlisted Indonesian stock exchange with the sample taken using purposive sampling method. The number of sample was 194 companies with the observation of 4 years. The hypothesis was tested using a multiple linear regression analysis. The result of research shows that: 1) the result of return on asset variable testing shows the regression coefficient of 0.293 at significance level of 0.009. Thus, it can be concluded that the return on asset affects significantly the stock return. 2) the result of debt to equity ratio variable testing shows the regression coefficient of 0.229 at significance level of 0.047. Thus, it can be concluded that the debt to equity ratio affects significantly the stock return. 3) the result of earning per share variable testing shows the regression coefficient of - 0.112 at significance level of 0.250. Thus, it can be concluded that the earning per share does not affect significantly the stock return. 4) the result of price earning ratio variable testing shows the regression coefficient of 0.025 at significance level of 0.829. Thus, it can be concluded that the price earning ratio does not affect significantly the stock return. Keywords: stock return, return on asset, debt to equity ratio, earning per share, price earning ratio ABSTRAK Penelitian ini bertujuan untuk menguji pengaruh return on asset, debt to equity ratio, earning pershare dan price earning ratio terhadap return saham perusahaan manufaktur terdaftar di Bursa Efek Indonesia tahun 2005-2008 dengan ukuran perusahaan sebagai variabel kontrol. Populasi dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia dengan sampel perusahaan manufaktur Sampel diambil dengan purposive sampling methods. Jumlah sample 194 perusahaan dengan jumlah observasi selama 4 tahun.Hipotesis diuji dengan regresi linier berganda. Hasil penelitian menunjukan bahwa: 1) Hasil pengujian variabel return on asset menunjukkan koefisien regresi sebesar 0.293 dengan tingkat signifikansi sebesar 0.009. sehingga dapat disimpulkan return on asset berpengaruh signifikan terhadap return saham. 2) Hasil pengujian variabel debt to equity ratio menunjukkan koefisien regresi sebesar 0.229 dengan tingkat signifikansi sebesar 0.047. Sehingga dapat disimpulkan debt to equity ratio berpengaruh signifikan terhadap return saham.3) Hasil pengujian variabel earning per share menunjukkan koefisien regresi sebesar -0.112 dengan tingkat signifikansi sebesar 0.250. sehingga dapat disimpulkan earning pershare tidak berpengaruh signifikan terhadap return saham. 4 ) Hasil pengujian variabel price earning ratio menunjukkan koefisien regresi sebesar 0.025 dengan nilai signifikansi sebesar 0.829. Sehingga dapat disimpulkan price earning ratio tidak berpengaruh signifikan terhadap return saham. Kata kunci : return saham, return on asset,debt to equity ratio,earning pershare, price earning ratio

Abstrak

Pengaruh return on asset (roa), debt to equity ratio (der), earning pershare (eps), price earning ratio (per) terhadap return saham (studi pada perusahaan manufaktur yang terdaftar di bursa efek Indonesia)