Pengaruh Kinerja Keuangan Terhadap Harga Saham Emiten Perbankan yang Terdaftar Di Bursa Efek Indonesia

Abstract

Salah satu faktor yang mempengaruhi naik turunnya harga saham di pasar modal adalah kinerja keuangan perusahaan. Penelitian ini bertujuan untuk menganalisis pengaruh kinerja keuangan baik secara parsial maupun simultan terhadap harga saham emiten perbankan yang terdaftar di Bursa Efek Indonesia. Populasi penelitian ini mencakup 27 perusahaan perbankan yang terdaftar di Bursa Efek Indonesia selama tahun 2007-2009, dengan 20 perusahaan yang digunakan sebagai sampel. Metode pengambilan sampel bertujuan digunakan dalam pemilihan sampel. Data yang digunakan adalah data sekunder berupa laporan keuangan dari masing-masing sampel yang dipublikasikan di www.idx.co.id dan Indonesia Capital Market Directory (ICMD). Metode analisis yang digunakan adalah metode analisis regresi linear berganda, setelah pengujian asumsi klasik dilakukan sebelumnya. Variabel independen yang digunakan adalah Capital Adequacy Ratio (CAR), Non Performing Loan (NPL), Return On Equity (ROE), Earning Per Share (EPS), dan Loan to Deposit Ratio (LDR) dengan harga saham sebagai variabel dependen.. Hasil analisis menunjukkan bahwa Capital Adequacy Ratio, Non Performing Loan, Return On Equity, Earning Per Share, dan Loan to Deposit Ratio secara simultan berpengaruh signifikan terhadap harga saham. Secara parsial, hanya variabel Return On Equity dan Earning Per Share yang berpengaruh signifikan terhadap harga saham.

One of the factors that influences the up and down of the stock price in capital market is corporate’s financial performance. The purpose of this research is to analyze the influence of financial performance, either partially or simultaneously, on stock price of banking companies listed in Indonesia Stock Exchange. Population of this research consists of 27 banking companies listed in Indonesia Stock Exchange during 2007-2009, with 20 companies taken as sample. Purposive sampling method is used for the sample selection. Data used in this study is secondary data in the form of financial statements of each sample, which is published in www.idx.co.id and Indonesia Capital Market Directory (ICMD). The analytical method used is multiple linear regression, after the classic assumption test has been done previously. Independent variables used are Capital Adequacy Ratio (CAR), Non Performing Loan (NPL), Return On Equity (ROE), Earning Per Share (EPS), and Loan to Deposit Ratio (LDR) with stock price as the dependent variable. The result shows that simultaneously are Capital Adequacy Ratio, Non Performing Loan, Return On Equity, Earning Per Share, and Loan to Deposit Ratio have a significant influence on stock price. Partially, only variables of Return On Equity and Earning Per Share have significant influence on Price to Book Value.