Ardin Sianipar : Pengaruh Faktor Fundamental Terhadap Harga Saham Industri Perbankan di Indonesia, 2005
Ardin Sianipar : Pengaruh Faktor Fundamental Terhadap Harga Saham Industri Perbankan di Indonesia, 2005
USU Repository © 2006
Pengaruh Faktor Fundamental Terhadap Harga Saham
Industri Perbankan di Indonesia
Pada tahun 1997 kondisi-kondisi perbankan sangat memprihatinkan, ini ditandai dengan dilikuidasinya 16 bank. Kondisi tersebut mengakibatkan berkurangnya kepercayaan masyarakat terhadap industri perbankan. Fenomena di atas berakibat pada turunnya minat investor untuk membeli saham perbankan. Konsekuensi yang terjadi harga saham perbankan mengalami penurunan.
Penilitian ini bertujuan untuk menguji dan melihat pengaruh faktor fundamental terhadap harga saham perbankan di BEJ. Variabel yang menjadi faktor fundamental adalah capital edequacy ratio, return on asset, return on equity, net interest margin, loan to deposit ratio, not performing asset to earning asset dan earning per share sebagai variabel bebas dan harga saham pada saat pengumuman sebagai variabel terikat. Penelitian dilakukan terhadap 20 bank yang terdaftar di BEJ. Model analisis yang digunakan adalah regresi linier berganda.
Hasil penelitian menunjukkan bahwa secara simultan, capital edequacy ratio, return on asset, return on equity, net interest margin, loan to deposit ratio, not performing asset to earning asset dan earning per share mempunyai pengaruh terhadap harga saham. Secara partial variable bebas hampir semua berpengaruh signifikan terhadap harga saham kecuali ROA, LDR dan NPATEA.
Ardin Sianipar : Pengaruh Faktor Fundamental Terhadap Harga Saham Industri Perbankan di Indonesia, 2005
USU Repository © 2006
The Influence of Fundamental Factor Toward
Banking Industries Share Prices in Indonesia
Thesis
In 1997 the banking conditions is very poor, this can be seen by the liquidation of 16 banks. The liquidation had caused decrease in publik trust toward banking system. The phenomena had reduced investors interest in banks stocks. The consequence is the drop in bank’s stock prices.
The purpose of the study is to analyze effect of fundamental factors towards banking stock price at Jakarta Stock Exchange. Variables in fundamental factors are capital adequacy ratio, return on asset, return on equity, net interest margin, loan to deposit ratio, not performing asset to earning asset and earning per share as independent variables, and stock prices announced as dependent variable.
This study is conducted on 20 banks listed at Jakarta Stock Exchange. The model of analysis is multiple linier regression. Outcome of the study reveals that as simultaneously, effect of capital adequacy ratio, return on asset, return on equity, net interest margin, loan to deposit ratio, not performing asset to earning asset and earning per share is effecting the stock prices. Partially most of the independent variable significantly influence the stock price except ROA, LDR and NPATEA.
