FAKTOR-FAKTOR YANG MEMPENGARUHI PRICE EARNING RATIO PADA PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

RUMAHARBO, N. HENKY SUMARJA (2010) FAKTOR-FAKTOR YANG MEMPENGARUHI PRICE EARNING RATIO PADA PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA. S2 thesis, Universitas Mercu Buana Jakarta-Menteng.

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Abstract

Price Earning Ratio is one of simple approach to foresee the valuation of stock in market. Hopefully, this approach is useful to be applied by investors and also stock researchers. PER approach is made based on financial ratio of the company whose release the stock since this financial ratio can represent the operational performance of the company itself. Therefore, research on those financial ratios which are predicted effecting PER needs to be done. This research is aimed to analyze financial ratio influencing PER of banking companies listed in Indonesian Stock Exchange. The financial ratios could be Capital Adequacy Ratio (CAR), Loan to Assets Ratio (LAR), Loan to Deposit Ratio (LDR), and Net Profit Margin (NPM). The samples are taken from 20 banking companies listed in Indonesian Stock Exchange on 2005 – 2008. Thus, the analysis technique is Multiple Linear Regressions. F-test and t-test was used to test the hypotheses with α equal to 5%. The results showed that only CAR significantly influencing PER in partial. While simultaneous test states that all variables are not significantly affecting PER. The regression model has good-of-fitness value of 5.5% (Adjusted R- Square). It means that the independent variables can only have 5.5% accuracy in predicting PER value, while the 94.5% affected by others variables which out of this research scope. The inaccuracy of those financial ratios in predicting PER caused by the observation data was taken on crisis period. Key words: Capital Adequacy Ratio, Loan to Asset Ratio, Loan to Deposit Ratio, Net Profit Margin, Price Earning Ratio, Banking stock.Price Earning Ratio adalah pendekatan yang cukup praktis dalam menilai harga saham. Pendekatan ini diharapkan dapat lebih mudah dipahami oleh investor maupun analis yang ingin menilai harga saham. Pendekatan PER didasarkan pada rasio keuangan perusahaan penerbit saham karena dipercaya dapat memperlihatkan kinerja perusahaan penerbit saham. Oleh karena itu, penelitian mengenai rasio-rasio keuangan apa saja yang mempengaruhi PER cukup menarik untuk dilakukan. Penelitian ini bertujuan untuk menganalisis rasio-rasio keuangan yang diperkirakan mempengaruhi Price Earning Ratio dari emiten perbankan yang tercatat di Bursa Efek Indonesia (BEI). Adapun rasio keuangan yang diprediksi berpengaruh terhadap PER dalam penelitian ini adalah Capital Adequacy Ratio (CAR), Loan to Assets Ratio (LAR), Loan to Deposit Ratio (LDR), dan Net Profit Margin (NPM). Sampel yang digunakan adalah 20 emiten perbankan yang tercatat di BEI pada periode 2005 -2008. Oleh karenanya teknik analisis yang digunakan adalah Regresi Linier Berganda dengan metode pengujian hipotesis berupa uji-F dan uji-t dengan tingkat kepercayaan (α) 5%. Hasil penelitian menunjukkan tidak semua variabel independen secara signifikan mempengaruhi PER. Hanya CAR yang secara signifikan mempengaruhi perubahan PER. Sedangkan secara simultan seluruh variabel independen tidak mempengaruhi perubahan PER. Ketepatan model regresi dalam memprediksi perubahan PER hanya 5,5% yang berarti masih ada 94,5% faktor lain yang mempengaruhi PER di luar penelitian ini. Ketidaktepatan rasio keuangan dalam memprediksi PER diperkirakan karena data penelitian diambil pada periode dimana kondisi makro ekonomi Indonesia sedang mengalami krisis. Kata Kunci: Capital Adequacy Ratio, Loan to Asset Ratio, Loan to Deposit Ratio, Net Profit Margin, Price Earning Ratio, Saham Perbankan.

Item Type: Thesis (S2)
Call Number CD: CDT-551-10-154
NIM/NIDN Creators: 55107120089
Uncontrolled Keywords: Capital Adequacy Ratio, Loan to Asset Ratio, Loan to Deposit Ratio, Net Profit Margin, Price Earning Ratio, Saham Perbankan. MKU, MANAJEMEN KEUANGAN
Subjects: 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 658 General Management/Manajemen Umum
Divisions: Pascasarjana > Magister Manajemen
Depositing User: UMMI RAHMATUSSYIFA
Date Deposited: 30 May 2022 03:01
Last Modified: 14 Feb 2023 03:36
URI: http://repository.mercubuana.ac.id/id/eprint/62146

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