The Effect Of Financial Performance On The Firm’s Value (Study On Food And Beverage Companies Listed In The Indonesia Stock Exchange Period Of 2008-2011)

Machfiro, Sonia (2013) The Effect Of Financial Performance On The Firm’s Value (Study On Food And Beverage Companies Listed In The Indonesia Stock Exchange Period Of 2008-2011). Sarjana thesis, Universitas Brawijaya.

Abstract

Semua perusahaan publik dapat mendapatkan dana tambahan dari surat berharga yang diperdagangkan di pasar modal. Jika kinerja perusahaan meningkat, nilai perusahaan akan lebih tinggi dan akan dihargai dengan naiknya harga saham. Sebaliknya, berita buruk tentang kinerja perusahaan akan diikuti denganpenurunan harga saham. Penelitian ini menganalisis dan menjelaskan pengaruh kinerja keuangan pada nilai Perusahaan Makanan dan Minuman yang terdaftar di Bursa Efek Indonesia periode 2008-2011. Sampel penelitian ini adalah 11 Perusahaan Makanan dan Minuman yang memiliki laporan keuangan lengkap periode 2008-2011. Kinerja keuangan yang digunakan adalah CR, ROE, EPS, DER, PBV, dan ROA dengan harga saham sebagai representasi dari nilai perusahaan. Untuk memenuhi persyaratan dari analisis regresi linier yang akurat dan dekat dengan realitas, harus memenuhi uji asumsi klasik, yaitu uji normalitas, uji multikolinieritas, uji autokorelasi, dan uji heteroskedastisitas. Hasilnya normal, tidak ada multikolinearitas antar variabel, tidak ada autokorelasi, dan tidak ada heteroskedastisitas. Nilai adjusted R square dari penelitian ini adalah 0,959, artinya bahwa variabel independen dapat menjelaskan variasi dalam perubahan variabel dependen sebesar 95,9% sedangkan sisanya 4,9% dijelaskan oleh variabel di luar variabel yang digunakan dalam penelitian ini. Berdasarkan analisis regresi linier berganda, secara simultan, semua variabel independen berpengaruh secara signifikan terhadap harga saham. Tetapi secara sebagian, hanya ROE, EPS dan PBV yang mempengaruhi harga saham Perusahaan Makanan dan Minuman pada periode 2008-2011. Analisis juga menyatakan bahwa EPS memiliki nilai koefisien beta terbesar, berarti variabel EPS memiliki pengaruh yang paling dominan terhadap harga saham perusahaan makanan dan minuman pada periode 2008-2011 dibandingkan kinerja keuangan lainnya yang telah disebutkan di atas.

English Abstract

All Public companies can provide additional funds from their traded securities in capital market. If the performance of that company increases, the value will be higher and would be appreciated in the form of rising stock prices. The opposite case, bad news about the companys performance will be followed by declining stock prices. This study analyzes the effect of financial performance on the value of Food and Beverage Companies listed in the Indonesia Stock Exchange period of 2008 – 2011. The samples of this study are 11 Food and Beverage Companies that have complete financial report period of 2008-2011. The financial performances used are CR, ROE, EPS, DER, PBV, and ROA and Stock price as representative of firm’s value. In order to meet the requirements of multiple linear regression analysis techniques that reasonably accurate and close to reality, the analysis must fulfill the classical assumptions, those are normality test, multicollinearity test, autocorrelation test, and heteroscedasticity test. The results are normal, no multicollinearity between variables, no autocorrelation, and no heteroscedasticity. This adjusted R square of this study is 0.959, means that the independent variables can explain the variation in the dependent variable changes by 95.9% while the remaining 4.9% is explained by variables beyond the variables used in this study. Based on multiple linear regression analysis, all independent variables have significant effect simultaneously to the stock prices. But partially, only ROE, EPS and PBV that have significant effect to the stock price of Food and Beverage Companies in the period 2008-2011. The analysis also stated that EPS has the largest beta coefficient value, means the EPS has the most dominant influence on the stock prices of food and beverage companies in the period of 2008-2011 than other financial performance mentioned above.

Item Type: Thesis (Sarjana)
Identification Number: SKR/FE/2013/97/051302988
Subjects: 600 Technology (Applied sciences) > 657 Accounting
Divisions: Fakultas Ekonomi dan Bisnis > Akuntansi
Depositing User: Endang Susworini
Date Deposited: 20 May 2013 11:04
Last Modified: 18 Oct 2021 13:04
URI: http://repository.ub.ac.id/id/eprint/107098
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