Djazuli, Atim (2010) Analisis Variabel Finansial dan Makroeonomi yang Berpengaruh terhadap Harga Saham (Studi di Bursa Efek Indonesia). Doctor thesis, Universitas Brawijaya.
Abstract
Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh variabel finansial ( Return on Investment, Profit Margin, Current Ratio dan Debt Ratio, Dividend, Dividend Yield ) dan makroekonomi (Produk Domestik Bruto, Jumlah Uang Beredar, Inflasi, Kurs Dollar Amerika terhadap Rupiah dan Tingkat Bunga) terhadap harga saham secara bersama-sama. Penelitian ini menggunakan pendekatan kuantitatif dengan metode path analysis. Populasi penelitian ini adalah seluruh perusahaan yang terdaftar di Bursa Efek Indonesia periode 2001-2007 dengan jumlah sampel sebesar 52 perusahaan yang diobservasi dalam kurun waktu 7 (tujuh) tahun, sehingga diperoleh total observasi sebesar 364. Hasil penelitian menunjukkan bahwa variabel yang berpengaruh terhadap dividen adalah Return On Investment dan Net Profit Margin dan tingkat bunga. Variabel yang berpengaruh terhadap Dividend Yield adalah Current Ratio dan Debt to Equity Ratio dan Produk Domestik Bruto. Variabel yang berpengaruh terhadap tingkat bunga adalah Jumlah Uang Beredar, Inflasi dan Kurs Dollar Amerika terhadap Rupiah. Variabel yang berpengaruh terhadap Harga Saham adalah Return On Investment , Current Ratio , Dividend , dan Dividend Yield `. Variabel yang tidak signifikan berpengaruh adalah variabel Produk Domestik Bruto terhadap tingkat bunga; variabel Debt to Equity Ratio terhadap dividen; variabel tingkat bunga terhadap harga saham dan variabel Produk Domestik Bruto terhadap harga saham.
English Abstract
This research aimed to test and analyze the influence of financial variables (Return on Investment, Profit Margin, Current Ratio and Debt Ratio, Dividend, and Dividend Yield) and macroeconomic variables (Gross Domestic Product, Money Supply, Inflation, Currency, and Interest Rate) stock price altogether. This research used quantitative approach by implementing path analysis method . The research population is all companies listed in Indonesian Stock Exchange in the period of 2001-2007 out of which 52 companies were selected as samples to be observed within 7 (seven) years term resulting in as many as 364 observations. The results of this research indicate that the variables having an effect on dividend were Return on Investment and Net Profit Margin as well as interest rate. The variable having an effect on Dividend Yield were Current Ratio and Debt Equity Ratio and Gro ss Domestic Product. Furthermore, the v ariables affecting the interest rate were the Amount of Money Supply, Inflation, and American Dollar Rate to Rupiah. Next, the variables which influenced the stock price were Return on Investment, Current Ratio, Dividend, and Dividend Yield . Finally, the v ariables which had insignificant influence were the variable of Gross Domestic Product to interest rate; the variable of Debt Equity Ratio to dividend; the variable of interest rate to stock price, and; the variable of Gross Domestic Product to stock price.
| Item Type: | Thesis (Doctor) |
|---|---|
| Identification Number: | DES/332.041 5/DJA/a/061002568 |
| Subjects: | 300 Social sciences > 332 Financial economics |
| Divisions: | S2/S3 > Doktor Kimia, Fakultas MIPA |
| Depositing User: | Endro Setyobudi |
| Date Deposited: | 20 Jan 2011 09:49 |
| Last Modified: | 20 Jan 2011 09:49 |
| URI: | http://repository.ub.ac.id/id/eprint/160713 |
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