Pengaruh Perubahan Rasio Profitabilitas dan rasio Aktivitas terhadap Harga Saham (studi Empiris BEI tahun 2004-2007)
SAKTI, DIAN KUMALA (Pembimbing: Sumiyana, Dr., M.Si., Ph.D.), Sumiyana, Dr., M.Si., Ph.D.
Penelitian ini bertujuan untuk menguji keterkaitan perubahan rasio profitabilitas (net profit margin, return on equity, earning per share) dan rasio aktivitas (inventory turnover, total asset turnover, fixed asset turnover)dengan harga pasar saham. Objek penelitian ini adalah perusahaan manufaktur yang terdaftar di BEI tahun 2004-2007, yang tidak mengeluarkan kebijakan lain yang secara langsung dapat mempengaruhi harga saham. Pengolahan dan analisis data menggunakan regresi linier berganda dengan bantuan program SPSS. Pengujian data yang digunakan untuk regresi linier yaitu uji asumsi klasik.
Hasil penelitian menunjukkan bahwa rasio-rasio tersebut tidak berpengaruh positif terhadap perubahan harga saham.Dengan mengontrol size pada medium size Inventory Turnover berpengaruh signifikan terhadap perubahan harga pasar saham.
This paper aims to see the relevance if the profitability ratio (net profit margin, return on equity, earnings per share) and the activity ratio (inventory turnover, total asset turnover, fixed asset turnover) has a significant positive effect on stock market prices. Object of this research are manufacturing companies quoted on the BEI in 2004-2007 which does not issue another policy which directly affects the price of shares, such as: mergers, acquisitions, dividends in shares, stock split, rights issue and bonus shares during the observation period.Processing and analysis of data using multiple linear regression with the help of SPSS. The data test used is based on classic asumtion test. The results showed that this ratios does not have a significant positive effect on the stock market price.By controlling thesizeonmediumsize, InventoryTurnoversignificantly influencethe stockmarketprice changes.
Kata Kunci : stock market prices, net profit margin, return on assets (ROA), return on equity (ROE), earnings per share (EPS), inventory turnover, fixed asset turnover, total asset turnover,
