Analisis Variabel Fundamental Yang Mempengaruhi Harga Saham (studi Pada Perusahaan Kelompok Indeks Lq45 Yang Terdaftar Di Bursa Efek Indonesia Periode 2011-2014)

Alif Mohamad Khalifah, Farida Titik Kris

Abstract

Abstrak
Krisis global yang terjadi pada tahun 2008 di amerika serikat telah berlalu , pada tahun 2011 hingga
2014 perekonomian kembali normal dan harga saham mengalami peningkatan. Faktor eksternal yang
awalnya ditakuti yaitu krisis telah berlalu, maka investor lebih fokus memperhatikan faktor internal
perusahaan dalam menanamkan sahamnya. Maka investor memerlukan indikator dalam menilai harga
saham, namun faktor-faktor fundamental yang sering dijadikan sebagai indikator masih memiliki
inkonsistensi. Untuk itu investor membutuhkan faktor-faktor yang akurat dalam menilai harga saham.
Penulis memfokuskan penelitian dengan analisis faktor-faktor fundamental yang dianggap mempengaruhi
harga saham, yaitu; return on asset, earning per share dan price earning ratio
Populasi dalam penelitian ini adalah perusahaan indeks LQ45 yang terdaftar di Bursa Efek Indonesia
(BEI) periode 2011 sampai 2014. Teknik pemilihan sampel menggunakan purposive sampling dan diperoleh 23
perusahaan yang disertakan dengan kurun waktu 4 tahun sehingga didapat 92 sampel yang diproses. Metode
analisis data dalam penelitian ini adalah regresi data panel.
Hasil penelitian menunjukan bahwa return on asset, earning per share dan price earning ratio secara
simultan berpengaruh signifikan terhadap harga saham. sedangkan secara parsial return on asset dan price
earning ratio tidak berpengaruh terhadap harga saham dan earning per share berpengaruh signifikan dengan
arah positif terhadap harga saham.

Kata Kunci : Return On Asset, Earning Per Share, Price Earning Ratio, Harga Saham
Abstract
The global crisis has occurred in 2008 in the United States has passed, in 2011 and 2014 the economy returns
to normal and the stock price has increased. External factors initially feared which is crisis has passed, investors
are giving more attention to internal factors in investing stock. Thus investor need an indicator in assessing the
stock price, but the fundamental factors that are often used as indicators still have inconsistencies. For that
investors need accurate factors in assessing stock prices. The authors focus on research with analysis of
fundamental factors were considered influencing the stock price, that are; return on assets, earnings per share
and price earnings ratio
Population of the study is financial report from Index LQ45 companies which are listed on Indonesia Stock
Exchange (IDX) periods 2011 to 2014. Purposive sampling has been used to choose sample in this research and
obtain 23 companies with 4 years period and obtained 92 samples were processed. Data analysis method in this
research is data panel regression.
The result shows that return on asset, earning per share, and price earning ratio simultaneously significant
influence to stock price. As partially return on asset and price earning ratio has no significant influence to price
stock, and earning per share has significant influence with positive direction to price stock.

Keyword : Return On Asset, Earning Per Share, Price Earning Ratio, Price Stock

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