Kamis, 14 Desember 2017
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PENGARUH RETURN ON ASSET (ROA), RETURN ON EQUITY (ROE) DAN EARNING PER SHARE (EPS) TERHADAP HARGA PASAR SAHAM PADA PERUSAHAAN DI BURSA EFEK INDONESIA (Studi Kasus pada PT Bakrie Telecom, Tbk)

oleh : LINDA RAHMAWATI


Abstrak Indonesia :

Penelitian ini bertujuan untuk mengetahui: (1) Bagaimana Return on Assets (ROA), Return on Equity (ROE), Earning Per Share (EPS) dan pergerakan harga saham (2) Bagaimana pengaruh secara parsial Return on Assets (ROA), Return on Equity (ROE) dan Earning Per Share (EPS) terhadap harga pasar saham. Menurut konsep bila Return on Assets (ROA), Return on Equity (ROE) dan Earning Per Share (EPS) pada laporan keuangan naik, hal ini menunjukkan kinerja keuangan yang baik yang akan berdampak pada kenaikan harga pasar saham. Hal inilah yang mendasari penulis untuk menguji konsep yang ada apakah Return on Assets (ROA), Return on Equity (ROE) dan Earning Per Share (EPS) benar berpengaruh positif terhadap harga pasar saham dan berapa besar pengaruhnya tersebut bila diterapkan berdasarkan kondisi yang tercermin pada PT Bakrie Telecom, Tbk. Data yang digunakan untuk variabel X pada penelitian ini adalah data time series sedangkan data untuk variabel Y menggunakan rata-rata tertimbang harga pasar saham 6 hari setelah publikasi laporan keuangan. Data diolah dengan menggunakan SPSS versi 17. Untuk menganalisis pengaruh Return on Assets (ROA), Return on Equity (ROE) dan Earning Per Share (EPS) secara parsial terhadap harga pasar saham dilakukan analisis persamaan regresi linear berganda, uji asumsi klasik, uji koefisien determinasi dan uji t. Dari hasil analisis data diketahui bahwa secara parsial Return on Equity (ROE) dan Earning Per Share (EPS) berpengaruh signifikan terhadap harga pasar saham, sedangkan Return on Assets (ROA) tidak berpengaruh terhadap harga pasar saham.


Katakunci : Return on Assets (ROA), Return on Equity (ROE), Earning Per Share (EPS) dan Harga Pasar Saham



Abstrak Inggris :

This study aims to determine: (1) How is Return on Assets (ROA), Return on Equity (ROE), Earning Per Share (EPS) and stock price movements (2) How does a partial effect of Return on Assets (ROA), Return on Equity (ROE) and Earnings Per Share (EPS) to the stock market prices. According to the concept, if the Return on Assets (ROA), Return on Equity (ROE) and Earnings Per Share (EPS) in the financial statements up, it indicates a good financial performance that will impact the increases of the stock market prices. This is what underlies the authors to test the concept that there is Return on Assets (ROA), Return on Equity (ROE) and Earnings Per Share (EPS) really has positive influence on the stock market prices and how big the effect is when applied under conditions that reflected by PT Bakrie Telecom, Tbk. The data used for the X variable in this study are time series data, while the data for the Y variable using the weighted average of the stock market prices 6 days after the publication of financial statements. The data were processed using SPSS version 17. To analyze the effect of Return on Assets (ROA), Return on Equity (ROE) and Earnings Per Share (EPS) partially to the market stock price it performed by using multiple linear regression analysis, the classical assumption test, the determination coefficient test and t test. The results of this research indicate that partially the variable of Return on Equity (ROE) and Earnings Per Share (EPS) significantly influence the stock market prices, while partially the variable of Return on Assets (ROA) has no effect on the stock market prices.


Keywords : Return on Assets (ROA), Return on Equity (ROE), Earning Per Share (EPS) and Stock Market Prices.


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