The Influence Of Firm Financial Performance On Stock Price Of Property And Real Estate Companies Listed In Indonesia Stock Exchange (IDX)

Anggarani, Ratri (2017) The Influence Of Firm Financial Performance On Stock Price Of Property And Real Estate Companies Listed In Indonesia Stock Exchange (IDX). Sarjana thesis, Universitas Brawijaya.

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh rasio keuangan dan nilai tambah ekonomis pada harga saham perusahaan properti dan real estat yang tercantum dalam BEI. Ada dua variabel independen. Rasio keuangan dan nilai tambah ekonomi (EVA). Variabel dependen adalah harga saham. Penelitian ini menggunakan metode purposive sampling untuk memilih sampel yang menghasilkan 14 perusahaan yang memenuhi syarat selama 2012-2014. Analisis data dalam penelitian ini menggunakan analisis regresi berganda. Hasil tes menunjukkan variabel yang secara signifikan mempengaruhi harga saham adalah rasio keuangan. Temuan ini menjelaskan bahwa rasio penghasilan per saham dan harga berhasil menjadi proxy profitabilitas yang mampu secara logis menunjukkan relevansi nilai tinggi dengan harapan pengembalian harga saham ke investor juga tinggi. Ini berarti bahwa EPS dan per telah mampu mempengaruhi keputusan manajer atau pengguna laporan keuangan lain untuk mendukung harapan mereka terhadap hasil yang akan diperoleh. Dapat disimpulkan bahwa Manajer Keuangan Perusahaan telah mampu memenuhi harapan pemegang saham yaitu mengelola aset secara optimal sehingga menghasilkan laba yang diinginkan. Sementara itu, nilai tambah ekonomi (EVA) memiliki pengaruh yang tidak signifikan pada harga saham. Ini berarti bahwa ketika nilai EVA perusahaan meningkat, belum tentu pengembalian yang akan diterima oleh investor juga akan naik, dan sebaliknya. Ini menunjukkan bahwa analisis EVA tidak digunakan sebagai dasar pengambilan keputusan bagi investor untuk melakukan pembelian atau pembuangan saham Perusahaan dan juga tidak digunakan oleh perusahaan manajemen dalam pengambilan keputusan untuk dividen.

English Abstract

This study aims to determine the influence of financial ratios and economic value added on stock price of property and real estate companies listed in IDX. There are two independent variables; financial ratios and economic value added (EVA). The dependent variable is stock price. The research uses purposive sampling method for selecting the samples resulted in 14 qualified companies during 2012-2014. Analysis of the data in this study using multiple regression analysis. Test results shows the variable that significantly influences the stock price is Financial Ratios. This finding explains that earning per share and price earning ratio is successful for being the proxy of profitability that logically be capable in showing the high value relevance with the expectation of stock price returns to investors also high. It means that EPS and PER have been able to influence the decision of managers or users of other financial statements to support their expectations of the results to be obtained. It can be concluded that the financial manager of the company has been able to fulfill the expectations of shareholders which is to manage the assets optimally so as to produce the desired profit. Meanwhile, Economic Value Added (EVA) has a insignificant influence on stock price. It means that when the EVA value of company increase, not necessarily the return will be received by investors will also rise, and vice versa. This shows that EVA analysis is not used as a basis for decision making for investors to make purchases or disposals of the company's shares and also not used by the management company in decision-making for dividend.

Item Type:	Thesis (Sarjana)
Identification Number:	SKR/FE/2017/315/051706328
Uncontrolled Keywords:	Financial Ratios, Economic Value Added, Stock Price
Subjects:	300 Social sciences > 332 Financial economics > 332.6 Investment > 332.64 Exchange of securities and commodities; speculation > 332.642 Exchange of securities
Divisions:	Fakultas Ekonomi dan Bisnis > Akuntansi
Depositing User:	Yusuf Dwi N.
Date Deposited:	14 Aug 2017 08:06
Last Modified:	25 Oct 2021 06:52
URI:	http://repository.ub.ac.id/id/eprint/1293

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