Pengaruh Operating Leverage dan Financial Leverage terhadap Risiko Sistemik Saham: Studi Empirik pada Emiten Sektor Manufaktur di Bursa Efek Indonesia
RENDI HADIWIJOYO (Pembimbing: Wiwin Rahmanti, S.E., M.Com., Wiwin Rahmanti, S.e., M.Com.
Penelitian ini bertujuan untuk mengetahui pengaruh operating leverage dan financial leverage terhadap risiko sistematik saham dengan study empirik pada emiten sektor manufaktur di Bursa Efek Indonesia. Operating leverage diproksikan dengan degree of operating leverage (DOL) dan financial leverage diproksikan dengan degree of financial leverage (DFL).
Populasi penelitian ini diambil dari seluruh perusahaan sektor manufaktur yang terdaftar di Bursa Efek Indonesia. Metode pengambilan sampel menggunakan purposive sampling dan model statistika menggunakan regresi berganda dan uji t.
Hasil penelitian menunjukkan hanya operating leverage yang mempunyai pengaruh signifikan terhadap risiko sistematik saham.
This research ia about determine the influence of operating leverage and financial leverage towards systematic risk of stock with empirical studies on manufacturing sector issuers in Indonesia Stock Exchange. In this research, degree of operating leverage (DOL) is used as the proxy of operating leverage and degree of financial leverage (DFL) is used as the proxy of financial leverage.
The researchs populations are taken from all manufacturing company listed in Indonesia Stock Exchange from 2004-2008. The sampling method are purposive sampling and statistical model using multiple linear regressions and t test.
The research shows that only the operating leverage that have a significant influence toward the systematic risk of stock.
Kata Kunci : Operating Leverage , Financial Leverage and Systematic Risk of Stock (beta), Risiko sistematik saham (beta)
