Pengaruh Rasio Profitabilitas Terhadap Perubahan Harga Saham (Studi Kasus Indeks LQ45) Di Bursa Efek Indonesia

Abstract

ABSTRAK

 

Penelitian ini bertujuan untuk mengetahui pengaruh antara Rasio Profitabilitas yaitu, Gross Profit Margin (GPM), Net Profit Margin (NPM), Return on Investment (ROI), dan Return on Equity (ROE) terhadap perubahan harga saham di Bursa Efek Indonesia Pertukaran (BEI) dengan menggunakan 25 saham perusahaan yang tergabung dalam indeks LQ45 yang telah dilakukan melalui teknik purposive sampling dari beberapa kriteria. Analisis statistik digunakan dalam bentuk uji korelasi parsialitas atau simultan dan regresi linier berganda dengan program E-views 10. Hasil penelitian menunjukkan bahwa rasio korelasi parsial hanya ROI yang berpengaruh signifikan terhadap perubahan harga saham dengan nilai t hitung sebesar 3.1009. Sedangkan pada uji korelasi simultan, rentabilitas berpengaruh terhadap perubahan harga saham dengan nilai R2 yang disesuaikan 0,0418. Pengujian pada regresi linier berganda, menggunakan metode Random Effect Model (REM) sebagai metode panel regresi dengan hasil bahwa jika variabel independen NPM, GPM, ROI, dan ROE dinyatakan kurs konstan sehingga rata-rata harga saham adalah sebesar Rp. 8845.183 dengan persamaan regresi Y = 8854.183 - 164.902 X1 - 14.79995 X2 + 422.66711 X3 + 5,603330 X4

 

Kata Kunci :       Rasio Profitabilitas, Gross Profit Margin (GPM), Net Profit Margin (NPM), Return on Investment (ROI), Return on Equity (ROE), dan Harga Saham

 

 

ABSTRACT

 

The aim of this research is to know the effect between Profitability Ratios ie, Gross Profit Margin (GPM), Net Profit Margin (NPM), Return on Investment (ROI), and Return on Equity (ROE) toward stock prices change on Indonesian Stock Exchange (IDX) by using 25 corporate stocks joined in index LQ45 which has been done through a purposive sampling technique of several criteria. The statistical analysis used in the form of correlating test partiality or simultaneous and multiple regression linear with E-views 10 program. The result showed that the partial correlation ratio only ROI which effected was significant on stock prices change with t count value is amounting to 3,1009 . While on the simultaneous correlate test profitability ratio is effecting the stock prices change by adjusted R2 value 0.0418. Testing on multiple regression linear, used the Random Effect Model (REM) method as the regression panel method by the result that if independent variables NPM, GPM, ROI, and ROE are stated constant rates so that the stock price average is amounting to Rp. 8845,183 with regression equation Y = 8854,183 - 164,9072 X1 - 14,79995 X2 + 422,6711 X3 + 5,603330 X4.

 

Keyword :         Profitability Ratios, Gross Profit Margin (GPM), Net Profit Margin (NPM), Return on Investment (ROI), Return on Equity (ROE), and Stock Prices.