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ABSTRAK
Penelitian ini bertujuan untuk mengetahui pengaruh kinerja keuangan perusahaan terhadap harga saham perusahaan manufaktur selama periode 2011-2013. Kinerja keuangan perusahaan direpresentasikan melalui rasio price earnings ratio (PER), dividend payout ratio (DPR), return on equity (ROE), dan debt to equity ratio (DER).
Populasi penelitian ini berupa perusahaan manufaktur di Bursa Efek Indonesia (BEI) periode 2011-2013. Pengambilan sampel dalam penelitian ini menggunakan metode purposive sampling, dimana jumlah sampel penelitian yang memenuhi kriteria sebanyak 53 perusahaan manufaktur. Data yang digunakan dalam penelitian ini merupakan data sekunder yang diperoleh dari Indonesian Capital Market Directory (ICMD) dan laporan keuangan. Pengujian hipotesis dengan menggunakan analisis regresi berganda. Penulis menggunakan program IBM SPSS Statistics 20.
Hasil dari penelitian menunjukkan bahwa secara parsial, ukuran kinerja keuangan berupa PER dan ROE berpengaruh positif dan signifikan terhadap harga saham perusahaan manufaktur sebaliknya DER berpengaruh negatif dan signifikan terhadap harga saham perusahaan manufaktur, sedangkan DPR tidak berpengaruh terhadap harga saham perusahaan manufaktur. Sementara itu, secara simultan seluruh ukuran kinerja keuangan berpengaruh signifikan terhadap harga saham perusahaan manufaktur.
Kata kunci: kinerja keuangan, price earnings ratio (PER), dividend payout ratio (DPR), return on equity (ROE), debt to equity ratio (DER), harga saham.
ABSTRACT
This research aims to determine the effect of financial performance on the stock price in manufacturing companies in the period 2011-2013. The financial performance of the company is represented by the ratio of price earnings ratio (PER), dividend payout ratio (DPR), return on equity (ROE), and debt to equity ratio (DER).
Population of this research is manufacturing companies in Indonesia Stock Exchange (IDX) in the period 2011-2013. This research uses purposive sampling
method, resulting 53 manufacturing companies as sample. Data in this research is secondary data obtained from Indonesian Capital Market Directory (ICMD) and financial statements. The hypothesis is tested with multiple regression analysis. The author uses IBM SPSS Statistics 20 program.
The results of this research indicate that company financial performance measures such as PER and ROE are positive and have significant effect on stock price of the manufacturing companies. Similarly, DER is a negative and has significant effect on stock price of the manufacturing companies, while DPR has no effect on stock price of the manufacturing companies. Simultaneously, all of financial performance measure has significant effect on stock price of the manufacturing companies.
Keywords: financial performance, price earnings ratio (PER), dividend payout ratio (DPR), return on equity (ROE), debt to equity ratio (DER), stock price.