Analisis Pengaruh Economic Value Added Dan Faktor Fundamental Perusahaan Lainnya Terhadap Return Saham Dengan Corporate Social Responsibility Sebagai Variabel Pemoderasi

Tanjung, Putri Renalita Sutra (2014) Analisis Pengaruh Economic Value Added Dan Faktor Fundamental Perusahaan Lainnya Terhadap Return Saham Dengan Corporate Social Responsibility Sebagai Variabel Pemoderasi. S2 thesis, Universitas Mercu Buana Jakarta-Menteng.

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Abstract

This research aim to analyze influence of EVA (Economic Value Added), DER(Debt to Equity Ratio), ROE (Return on Equity), and PER (Price to Earning Ratio), to Return of Share with Corporate Social Responsibility as a moderating variable.Technique sampling is purposive sampling. The research is conducted on 42 companies, which consistently include in the Kompas-100 Index in Indonesia Stock Exchange with 3 (three) years (2010-2012) range of time. The estimation model being used is panel data regression, with Fixed Effect Method approach. Simultaneously, all variables have positive effect and significant to return of share. The estimation results in partial indicate that EVA have positive effect but do not significant to return of share. DER, ROE, PER and CSR having significantly positive effect to return of share. Corporate Social Responsibility is significantly as a moderating variable of the relationship between EVA, DER, ROE, and PER to return of share. Overall, this research has proven the Agency Theory in another form, which states that manager is not only responsible towards shareholder but also responsible towards all stakeholders. Similarly, the results are in favor of Signaling Theory, which argues that CSR is a form of positive signal to investor. Keywords: EVA, DER, ROE, PER, CSR, Return of Share. Penelitian ini bertujuan untuk menganalisis pengaruh EVA (Economic Value Added), DER (Debt to Equity Ratio), ROE (Return on Equity), dan PER (Price to Earning Ratio) terhadap Return Saham dengan CSR (Corporate Social Responsibility) sebagai variabel pemoderasi. Teknik pengambilan sampel yang digunakan adalah purposive sampling. Penelitian dilakukan terhadap 42 perusahaan yang konsisten termasuk dalam Indeks Kompas-100 di Bursa Efek Indonesia dengan rentang waktu penelitian selama 3 (tiga) tahun (2010-2012). Estimasi model yang digunakan adalah regresi data panel melalui pendekatan Fixed Effect Method. Uji simultan menujukkan bahwa seluruh variabel berpengaruh positif signifikan terhadap return saham. Hasil estimasi secara parsial menunjukkan bahwa EVA berpengaruh positif terhadap return saham tetapi tidak signifikan, DER, ROE, PER dan CSR berpengaruh positif dan signifikan terhadap return saham. Pengungkapan Corporate Social Responsibility terbukti secara signifikan sebagai variabel pemoderasi hubungan antara EVA (Economic Value Added), DER (Debt to Equity Ratio), ROE (Return on Equity), dan PER (Price to Earning Ratio) terhadap return saham. Secara keseluruhan hasil penelitian ini membuktikan Agency Theory dalam bentuk lain yaitu bahwa manajer tidak hanya bertanggungjawab terhadap shareholder melainkan bertanggung jawab juga terhadap seluruh stakeholder. Demikian pula hasil penelitian mendukung Signaling Theory yaitu bahwa CSR merupakan salah satu bentuk pemberian sinyal positif kepada investor. Kata kunci: EVA, DER, ROE, PER, CSR, Return Saham.

Item Type: Thesis (S2)
Call Number CD: CDT-551-14-191
NIM/NIDN Creators: 55111120256
Uncontrolled Keywords: EVA, DER, ROE, PER, CSR, Resturn Saham. 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: Admin Perpus UMB
Date Deposited: 15 Dec 2014 12:53
Last Modified: 22 Jul 2022 07:57
URI: http://repository.mercubuana.ac.id/id/eprint/13659

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