Pengaruh Net Profit Margin, Return On Equity, Dan Earning Per Share Terhadap Harga Saham (Studi Empiris Pada Perusahaan Property & Real Estate Yang Terdaftar Di Bursa Efek Indonesia 2013-2016)

Abstract

Abstrak Semakin berkembangnya dunia usaha di Indonesia menyebabkan perusahaanperusahaan besar membutuhkan sumber pendanaan dari luar. Salah satu sumber tersebut adalah penerbitan saham kepada masyarakat luas, yang disebut dengan go public. Hal tersebut juga berlaku bagi perusahaan property di Indonesia, Perkembangan sektor property dan real estate tentu saja akan menarik minat investor dikarenakan kenaikan harga tanah dan bangunan yang cenderung naik, supply tanah bersifat tetap sedangkan demand akan selalu bertambah besar seiring dengan pertambahan jumlah penduduk serta bertambahnya kebutuhan manusia akan tempat tinggal, perkantoran, pusat perbelanjaan, dan lain-lain.Penelitian ini bertujuan untuk menganalisis dan memberikan bukti empiris pengaruh Net Profit Margin, Return On Equity, dan Earning Per Share terhadap Harga Saham. Analisis ini menggunakan variabel independen Net Profit Margin, Return On Equity, dan Earning Per Share. Variabel dependennya adalah Harga Saham. Sampel yang digunakan adalah data sekunder yang berasal dari laporan keuangan perusahaan Property dan Real Estate yang terdaftar Di Bursa Efek Indonesia (BEI) pada tahun 2013-2016. Sampel diambil dengan metode purposive sampling dan yang memenuhi kriteria pemilihan sampel. Sampel yang digunakan sebanyak 30 perusahaan. Metode statistik menggunakan analisis Regresi Berganda dengan pengujian hipotesis uji statistik t dan uji statistic F. Berdasarkan hasil pengujian menggunakan software SPSS, secara simultan variabel independen yang terdiri dari Net Profit Margin, Return On Equity dan Earning Per Share memiliki pengaruh secara simultan terhadap Harga Saham. Sedangkan pengujian secara parsial, menunjukan hasil bahwa variabel Net Profit Margin dan Earning Per Share berpengaruh signifikan terhadap Harga Saham. Begitu pula Return On Equity berpengaruh terhadap Harga Saham, dan Return On Equity tidak memiliki pengaruh terhadap Harga Saham. Variabel Net Profit Margin (NPM), Return On Equity (ROE) dan Earning Per Share (EPS) memberikan pengaruh sebesar 79,6% terhadap Harga Saham, Sedangkan sisanya sebesar 20,4% merupakan kontribusi variabel lain Harga Saham. Berdasarkan hasil penelitian ini, diharapkan para investor dan calon investor yang akan berinvestasi sebaiknya mempertimbangkan faktor dari variabel fundamental perusahaan, seperti NPM dan EPS.

Kata Kunci: Net Profit Margin (NPM), Return On Equity (ROE), Earning Per Share (EPS), dan Harga Saham


ISSN : 2355-9357 e-Proceeding of Management : Vol.5, No.1 Maret 2018 | Page 729

Abstract The growing business world in Indonesia causes large companies to require external sources of funding. One such source is the publication of shares to the public, called go public. This also applies to property companies in Indonesia. Property and real estate developments will certainly attract investors because of rising prices of land and buildings that tend to rise, the supply of land is fixed while demand will always increase in line with the increase in the number of population and the increasing need human beings will residence, offices, shopping centers, and others. This study aims to analyze and provide empirical evidence of the influence of Net Profit Margin, Return On Equity, and Earning Per Share to Share Price. This analysis uses independent variables Net Profit Margin, Return On Equity, and Earning Per Share. Dependent variable is Stock Price. The sample used is secondary data derived from the financial statements of the company Property and Real Estate listed In Indonesia Stock Exchange (IDX) in the year 2013-2016. The sample is taken by purposive sampling method and that fulfill the sample selection criteria. The sample used is 30 companies. Statistical method using Multiple Regression analysis with hypothesis test of statistic test t and statistic test F. Based on the results of testing using SPSS software, simultaneously independent variables consisting of Net Profit Margin, Return On Equity and Earning Per Share have a simultaneous influence on Stock Price. While the test partially, shows the results that variable Net Profit Margin and Earning Per Share significant effect on Stock Price. Similarly, Return On Equity effect on Stock Price, and Return On Equity has no effect on Stock Price. Variable Net Profit Margin (NPM), Return On Equity (ROE) and Earning Per Share (EPS) give 79,6% influence to Stock Price, while the rest equal to 20,4% is contribution of other variable of Stock Price. Based on the results of this study, it is expected that investors and potential investors who will invest should consider factors from fundamental variables of the company, such as NPM and EPS

Keywords: : Net Profit Margin (NPM), Return On Equity (ROE), Earning Per Share (EPS), and Stock Price