PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA SAHAM PERUSAHAAN YANG TERDAFTAR DI LQ 45 BURSA EFEK INDONESIA

Farid Firmansyah

Abstract


Regression based estimation  or prediction on the stock price can be done traditionally and in a modern way. In this research it is done traditionallywith regard to instrinsic/ fundamental values of the company. Traditionallysome literature uses PER as a model of estimation, but this model have weaknesses if the Analyst or the share owners do not know how to read the financial report or they just trust the numbers on the report. The alternative way to use a model of estimation in this research considered the DER, ROA and ROE variables. This research used a quantitative research. The population of this research is 45 companies. The kind of data used is secondary data.  The data analysis used is Double Linier Regression Analysis. The result of the research is the validity  test show that the Communality number is higher than Rule of Thumbs in the point of 0,5 (table 4.4) which identifies that the regression equation made do not have multikoliniarity and the regression is able to estimate correctly (table 4.5). it has F-test and it is significant in 0,000, so that   it can be concluded that the model made does not have independent variable which influence the dependent one. In this research, the researcher deleted the free variable DER. This is because the researcher wants a model with estimation that can predict as exact as possible. Therefore, the regression equation is: the stock price = 1097.090 + 1141.427 ROA + 5407.516 ROE. The conclusions of this research are, (1) the result of F test shows that the regression model can be used to predict the stock price. In another word, the independent variable consists of ROA and ROE, some or all of its independent variables influence their dependent variable which is the stock price. (2) t Test of ROA and ROE have a positive effect on the ROE stock price. (3) ROA and ROE can explain 86, 7% effect on the stock share.

Full Text:

PDF

References


Abdul Halim. 2007. Manajemen Keuangan Bisnis. Bogor: Ghalia Indonesia.

Agus Widarjono. 2015. Analisis Multivariate Terapan. Yogyakarta: UPP STIM YKPN.

Bodie, Zvi, Kane, Alex and Marcus, Alan J. 2005. Investment. Mc Graw, Hill International Edition.

Dahlan Siamat. 1999. Manajemen Lembaga Keuangan. Jakarta: Lembaga Penerbit Fakultas Ekonomi Universitas Indonesia.

Damodar N Gujarati. 2006. Dasar-dasar Ekonometrika. Jakarta: Erlangga.

Edwin J. Elton dan Martin J. Grubber. 1987. Modern Portofolio Theory and Investment Analysis. New York: John Wiley & Son.

Eugene F. Brigham, Joel F. Houston. Essentials Of Financial Managemen. Jakarta: Salemba 4.

Humphrey Wangke. 2014, Peluang Indonesia Dalam Masyarakat Ekonomi ASEAN 2015. Jurnal: Info Singkat, vol VI No.10/II/P3DI/Mei/2014, ISSN 2088-2351.

Husaini Usman dan R. Purnomo Setiady Akbar. 2003. Pengantar Statistika. Jakarta: PT Bumi Aksara.

Imam Ghozali. 2009. Ekonometrika : Teori, Konsep dan Aplikasi dengan SPSS 17. Semarang: BP UNDIP.

Inung Adi Nugroho. 2009. AnalisisPengaruh Informasi Fundamental Terhadap Return Saham: Studi Komparatif pada Subsektor Industri Otomotif Terhadap Subsektor Industri Textil Sepanjang Periode Tahun 2003 sampai dengan Tahun 2007 di Bursa Efek Indonesia, Tesis, Universitas Diponegoro, Semarang.

Irham Fahmi. 2014. Manajemen Keuangan dan Pasar Modal. Jakarta: Mitra Media Wacana.

J.P Sitanggang. 2014. Manajemen Keuangan Perusahaan. Jakarta: Mitra Wacana Media.

Jamalul Abidin. 2009. Analisis Faktor Fundamental Keuangan dan Resiko Sistematik Terhadap Harga Saham Perusahaan Consumer Goods Yang Terdaftar di Bursa Efek Indonesia. Tesis, Universitas Sumatera Utara, Medan.

Jogiyanto. 2011. Konsep dan Aplikasi SEM. Yogyakarta: UPP STIM YKPN.

Jun Yamamoto dan Atsumu Ogawa. First Step in Fundamental Analysis. Jakarta: Kompas Gramedia.

Jurnal Ekonomi. Vol 6 Edisi 2 Januari-April 2013.

Keputusan Menteri Keuangan RI No 1548/KMK/90, tentang Peraturan Pasar Modal.

Lukman Syamsuddin. 2009. Manajemen Keuangan Perusahaan. Jakarta: PT RajaGrafindo Persada.

Mamduh M. Hanafi dan Abdul Halim. Analisis Laporan Keuangan. Yogyakarta: UPP STIM YKPN.

Mudrajad Kuncoro. 2015. Indikator Ekonomi. Yogyakarta: UPP STIM YKPN.

Mudrajad Kuncoro. Metode Kuantitatif. Yogyakarta: UPP STIM YKPN.

Muhammad. 2008. Metodologi Penelitian Ekonomi Islam: Pendekatan Kuantitatif. Jakarta : PT Raja Grafindo Persada.

Nachrowi D Nachrowi dan Hardius Usman. 2006. Ekonometrika. Jakarta: LPFEUI.

R. Agus Sartono. 2010. Manajemen Keuangan: Teori dan Aplikasi. Yogyakarta: BPFE Yogyakarta.

Suad Husnan dan Pudjiastuti. 1994. Dasar Manajemen Keuangan. Yogyakarta : Unit Penerbit dan Percetakan AMP YKPN.

Suad Husnan. 2015. Dasar-dasar Teori Portofolio & Analisis Sekuritas. Yogyakarta: UPP STIM YKPN.

Suad Husnan. 1998. Manajemen Keuangan; Teori dan Penerapan. Yogyakarta: BPFE.

Sugiyono. 1998. Metode Penelitian Administrasi. Bandung: Alfabeta.

Sugiyono. 2011. Metode Penelitian Kuantitatif dan Kualitatif dan R&D. Bandung: Alfabeta.

Sunariyah. 2011. Pengantar Pengetahuan Pasar Modal. Yogyakarta: UPP STIM YKPN.

Supardi, U.S. 2013. Aplikasi Statistika Dalam Penelitian: Konsep Statistika Yang Lebih Kompreherensif. Jakarta: Change Publisher.

Susan Grace Veranita Nainggolan. 2008. Pengaruh Variabel Fundamental Terhadap Harga Saham Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. Tesis, UNDIP, Universitas Sumatera Utara, Medan.

Tangkilisan, Hessel Nogi S. 2003. Memahami Kinerja Keuangan Perusahaan. Yogyakarta: Balairung&Co.

William F Sharpe, Gordon J Alexander, Jeffery V Bailey. 1995. Investasi. New Jersey: Prentice Hall, Inc.

Zalmi Zubir. 2011. Manajemen Portofolio: Penerapannya Dalam Investasi Saham. Jakarta: Salemba Empat.




DOI: http://dx.doi.org/10.19105/nuansa.v14i2.1640

Refbacks

  • There are currently no refbacks.





Lisensi Creative Commons
Nuansa: Jurnal Penelitian Ilmu Sosial dan Keagamaan Islam is published by Research Institute and Community Engagement of IAIN Madura and distributed under Lisensi Creative Commons Atribusi-NonKomersial 4.0 Internasional.
Based on the creation http://ejournal.iainmadura.ac.id/index.php/nuansa/index


View My Stats
Free counters!


Indexed by: