Analisis Pengaruh Current Ratio, Dedt to Total Assets Return On Assets Dan Working Capital Turnover Terhadap Return Saham Pada Perusahan LQ 45 Yang Terdapat Di Bursa Efek Indonesia

SRIYANTO, AGUS (2015) Analisis Pengaruh Current Ratio, Dedt to Total Assets Return On Assets Dan Working Capital Turnover Terhadap Return Saham Pada Perusahan LQ 45 Yang Terdapat Di Bursa Efek Indonesia. S2 thesis, Universitas Mercu Buana Jakarta-Menteng.

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Abstract

Bagi investor ada dua hal yang sering menjadi perhatian dalam menentukan investasinya adalah hasil (return) dan risiko. Umumnya semakin tinggi risiko, maka semakin besar hasil yang akan diperoleh. Return merupakan salah faktor yang memotivasi investor berinvestasi dan juga merupakan imbalan atas keberanian investor menanggung risiko atas investasi yang dilakukannya. Untuk mengukur kinerja perusahaan, investor biasanya melihat kinerja keuangan perusahaan yang tercermin dari berbagai macam rasio keuangan dan di perlukan perbandingan dengan perusahaan lain. Penelitian yang dilakukan oleh Susilawati (2012), menunjukkan bahwa variabel yang paling berpengaruh terhadap saham LQ 45 adalah profitabilitas dengan indikatornya ROA sebesar 40,2%, dan variabel solvabilitas dengan indikator DER menunjukkan pengaruh yang signifikan terhadap harga saham LQ 45 dengan pengaruh kecil sebesar 7,5 %, sedangkan variabel likuiditas dengan indikator CR tidak menunjukkan pengaruh terhadap harga saham LQ 45. Penelitian ini bertujuan untuk membuktikan secara empiris pengaruh Current Ratio, Debt to Total Assets, Return on Assets dan Working Capital Turnover terhadap return saham pada perusahaan LQ45. Adapun metode analisis statistik yang digunakan adalah regresi linier berganda. Hasil penelitian ini menunjukan bahwa Current Ratio dan Working Capital Turnover mempunyai pengaruh positif dan signifikan terhadap return saham. Sedangkan Return on Assets mempunyai pengaruh negatif dan signifikan terhadap return saham. Dan untuk Debt to Total Assets tidak mempunyai pengaruh signifikan terhadap return saham. Dan secara simultan Current Ratio, Debt to Total Assets, Return on Assets dan Working Capital Turnover berpengaruh terhadap return saham. Kata kunci : Current Ratio, Debt to Total Assets, Return on Assets dan Working Capital Turnover, Return Saham, BEI LQ45. For investors there are two things that are often a concern in determining investment is the result (return) and risk. Generally, the higher the risk, the greater the results to be obtained. Return is one of the factors that motivate investors to invest and also a reward for the courage of investors bear the investment risk does. To measure the performance of companies, investors usually look at the company's financial performance as reflected in a wide range of financial ratios and in need of a comparison with other companies. Research conducted by Susilawati (2012), showed that the variables that the most influential variable to LQ 45 is the indicator of profitability with ROA of 40,2%, and the solvency of the indicator variable DER showed a significant effect on stock prices LQ 45 with little effect of 7,5%, while the liquidity variable with CR indicator does not show the effect on stock prices LQ 45. This study aims to demonstrate empirically the influence of Current Ratio, Debt to Total Assets, Return on Assets and Working Capital Turnover on stock returns on the company LQ45. The statistical analysis method used is multiple linear regressions. These results indicate that the Current Ratio and Working Capital Turnover has a positive and significant impact on stock returns. While Return on Assets has a negative and significant effect on stock returns. And for the Debt to Total Assets does not have a significant effect on stock returns. And simultaneously the Current Ratio, Debt to Total Assets, Return on Assets and Working Capital Turnover effect on stock returns. Keywords : Current Ratio, Debt to Total Assets, Return on Assets and Working Capital Turnover, Return Saham, BEI LQ45.

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