Analisis Pengaruh Faktor Fundamental dan Risiko Sistematik Terhadap Price to Book Value (PBV) Pada Perusahaan Makanan dan Minuman yang Terdaftar (BEI) Periode Tahun 2005-2009
SIWI, RARAS CAHYANING (Pembimbing: Harimurti Subanar, Drs., M.M.), Harimurti Subanar, Drs., M.M.
Penelitian ini bertujuan untuk menganalisis pengaruh faktor fundamental dan risiko sistematik terhadap Price to Book Value (PBV) pada perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia selama tahun 2005-2009. PBV memiliki peran penting sebagai indikator harga atau nilai saham dan sebagai suatu pertimbangan bagi investor untuk memilih saham yang akan dibeli.
Penelitian dilakukan terhadap 13 sampel. Variabel yang digunakan dalam penelitian ini adalah Return On Asset (ROA), Return On Equity (ROE), Debt to Equity Ratio (DER), Earning Per Share (EPS), dan Risiko Sistematik sebagai variabel independen, serta Price to Book Value (PBV) sebagai variabel dependen. Data diperoleh dari Indonesia Capital Market Directory (ICMD) periode tahun 2005-2009. Penelitian ini menggunakan regresi linier berganda.
Hasil dari penelitian ini menunjukkan bahwa Return On Equity (ROE), Debt to Equity Ratio (DER), Earning Per Share (EPS) memiliki pengaruh yang signifikan dan positif terhadap Price to Book Value (PBV), sedangkan Return On Asset (ROA) dan Risiko Sistematik tidak memiliki pengaruh yang signifikan terhadap Price to Book Value (PBV). Secara simultan, variabel Return On Asset (ROA), Return On Equity (ROE), Debt to Equity Ratio (DER), Earning Per Share (EPS), dan Risiko Sistematik memiliki pengaruh yang signifikan terhadap Price to Book Value (PBV).
The aims of this research are to analyze the influence of fundamental factors and systematic risk on Price to Book Value (PBV) of the food and beverage companies which are listed in Indonesian Stock Exchange along 2005 until 2009. PBV has an important role as an indicator of the price or value stock and as a consideration for investors to pick stocks that will be purchased.
This research takes 13 samples. The variable that used in this research are Return On Asset (ROA), Return On Equity (ROE), Debt to Equity Ratio (DER), Earning Per Share (EPS), and Systematic Risk as the independent variable, and Price to Book Value (PBV) as the dependent variable. Data obtained from the Indonesian Capital Market Directory (ICMD) in the period of 2005-2009. This research is using the multiple linear regression.
The result of this research shows the Return On Equity (ROE), Debt to Equity Ratio (DER), Earning Per Share (EPS) has a significant and positive impact on the Price to Book Value (PBV), whereas the Return On Assets (ROA) and Systematic Risk has no significant effect on the Price to Book Value (PBV). Simultaneously, Return on Assets (ROA), Return On Equity (ROE), Debt to Equity Ratio (DER), Earning Per Share (EPS), and Systematic Risk has a significant effect on the Price to Book Value (PBV).
Kata Kunci : Return On Asset (ROA), Return On Equity (ROE), Debt to Equity Ratio (DER), Earning Per Share (EPS), Risiko Sistematik, Price to Book Value (PBV), Systematic Risk
