Lampiran 1
Daftar Populasi dan Sampel
No
Kode Perusahaan
Nama Perusahaan Populasi Sampel
1 DVLA Darya Varia Laboratoria Tbk ˅ ˅
2 INAF Indofarma Tbk ˅ ˅
3 KAEF Kimia Farma Tbk ˅ ˅
4 KLBF Kalbe Farma Tbk ˅ ˅
5 MERK Merck Tbk ˅ ˅
6 PYFA Pyridam Farma Tbk ˅ ˅
7 SCPI Schering Plough Indonesia Tbk ˅ ˅
8 SQBI Taisho Pharmaceutical Indonesia Tbk ˅ ˅
Lampiran 2
2006 2007 2008 2009 2010 2011
1 DVLA Darya Varia Laboratoria Tbk 0.35 0.21 0.26 0.41 0.33 0.28 1.84
2 INAF Indofarma Tbk 1.45 2.46 2.25 1.44 1.36 0.83 9.79
3 KAEF Kimia Farma Tbk 0.45 0.53 0.53 0.57 0.49 0.43 3.00
4 KLBF Kalbe Farma Tbk 0.36 0.33 0.38 0.35 0.22 0.27 1.91
5 MERK Merck Tbk 0.20 0.18 0.15 0.23 0.20 0.15 1.11
6 PYFA Pyridam Farma Tbk 0.27 0.42 0.42 0.37 0.30 0.43 2.21
7 SCPI Schering Plough Indonesia Tbk 0.69 0.70 0.23 0.09 0.18 0.13 2.02 8 SQBI Taisho Pharmaceutical Indonesia Tbk 0.59 0.43 0.37 0.21 0.19 0.20 1.99
9 TSPC Tempo Scan Pasific Tbk 0.23 0.26 0.29 0.34 0.36 0.40 1.88
Lampiran 3
2006 2007 2008 2009 2010 2011
1 DVLA Darya Varia Laboratoria Tbk 4.69 5.36 4.13 3.05 3.72 4.83 25.78
2 INAF Indofarma Tbk 1.48 1.31 1.33 1.55 1.55 1.54 8.76
3 KAEF Kimia Farma Tbk 2.13 2.06 2.11 2.00 2.43 2.75 13.48
4 KLBF Kalbe Farma Tbk 5.04 4.98 3.33 2.98 4.39 3.65 24.37
5 MERK Merck Tbk 5.42 6.17 7.77 5.04 6.23 7.52 38.15
6 PYFA Pyridam Farma Tbk 1.44 1.45 1.64 2.10 3.01 2.54 12.18
7 SCPI Schering Plough Indonesia Tbk 0.66 0.77 0.89 0.94 0.91 3.78 7.95 8 SQBI Taisho Pharmaceutical Indonesia Tbk 2.60 2.97 3.37 5.45 5.69 5.80 25.88
9 TSPC Tempo Scan Pasific Tbk 4.39 4.05 3.83 3.47 3.37 3.08 22.19
Lampiran 4
2006 2007 2008 2009 2010 2011
1 DVLA Darya Varia Laboratoria Tbk 3.61 4.22 3.86 5.80 3.17 3.11 23.77
2 INAF Indofarma Tbk 4.82 5.32 7.32 6.24 7.91 7.43 39.04
3 KAEF Kimia Farma Tbk 10.56 7.88 10.20 9.37 8.90 9.06 55.97
4 KLBF Kalbe Farma Tbk 7.98 7.56 7.87 6.89 7.50 6.67 44.47
5 MERK Merck Tbk 6.50 6.26 7.08 4.23 8.89 8.50 41.46
6 PYFA Pyridam Farma Tbk 4.71 5.36 6.06 7.40 6.84 6.28 36.65
7 SCPI Schering Plough Indonesia Tbk 13.91 3.78 4.19 5.23 4.21 3.23 34.55 8 SQBI Taisho Pharmaceutical Indonesia Tbk 3.66 3.60 4.07 3.51 5.31 4.66 24.81
9 TSPC Tempo Scan Pasific Tbk 11.48 9.69 9.75 9.68 9.58 9.65 59.83
Lampiran 5
Tabel 1.4 Perkembangan
Fixed Assets Turn Over Ratio (
FATO) Perusahaan Farmasi di
BEI Tahun 2006 - 2011
8 SQBI Taisho Pharmaceutical Indonesia
Tbk 4.35 3.94 5.12 5.21 4.08 4.36 27.06
9 TSPC Tempo Scan Pasific Tbk 4.44 4.97 5.46 6.29 6.75 6.52 34.43
Lampiran 6
2006 2007 2008 2009 2010 2011
1 DVLA Darya Varia Laboratoria Tbk 0.09 0.09 0.12 0.08 0.12 0.12 0.62
2 INAF Indofarma Tbk 0.01 0.01 0.00 0.00 0.01 0.03 0.06
3 KAEF Kimia Farma Tbk 0.02 0.02 0.02 0.02 0.04 0.05 0.17
4 KLBF Kalbe Farma Tbk 0.13 0.12 0.10 0.12 0.13 0.14 0.74
5 MERK Merck Tbk 0.18 0.16 0.15 0.20 0.15 0.25 1.09
6 PYFA Pyridam Farma Tbk 0.03 0.02 0.02 0.03 0.03 0.03 0.16 7 SCPI Schering Plough Indonesia Tbk (0.02) 0.02 0.03 0.04 (0.03) (0.09) (0.05)
8 SQBI Taisho Pharmaceutical Indonesia Tbk 0.18 0.20 0.26 0.39 0.30 0.35 1.68 9 TSPC Tempo Scan Pasific Tbk 0.10 0.09 0.09 0.08 0.10 0.10 0.56
Lampiran 7
2006 2007 2008 2009 2010 2011
1 DVLA Darya Varia Laboratoria Tbk 0.13 0.11 0.14 0.13 0.17 0.17 0.85
2 INAF Indofarma Tbk 0.05 0.04 0.02 0.01 0.04 0.06 0.22
3 KAEF Kimia Farma Tbk 0.05 0.06 0.06 0.06 0.12 0.14 0.49
4 KLBF Kalbe Farma Tbk 0.26 0.24 0.23 0.22 0.23 0.23 1.41
5 MERK Merck Tbk 0.37 0.32 0.30 0.41 0.33 0.40 2.13
6 PYFA Pyridam Farma Tbk 0.03 0.03 0.03 0.05 0.05 0.06 0.25
7 SCPI Schering Plough Indonesia Tbk (0.02) 0.01 0.01 0.01 (0.01) (0.01) (0.01)
8 SQBI Taisho Pharmaceutical Indonesia Tbk 0.33 0.33 0.44 0.50 0.34 0.40 2.34
9 TSPC Tempo Scan Pasific Tbk 0.15 0.14 0.15 0.15 0.19 0.19 0.97
Lampiran 8
2006 2007 2008 2009 2010 2011
1 DVLA Darya Varia Laboratoria Tbk 0.06 0.12 0.41 0.02 0.70 0.24 1.55 2 INAF Indofarma Tbk 0.08 (0.08) 0.12 0.05 (0.14) 0.23 0.26 3 KAEF Kimia Farma Tbk (0.04) 0.08 0.04 0.02 0.14 0.25 0.49
4 KLBF Kalbe Farma Tbk 0.10 0.06 0.02 0.35 0.20 0.26 0.99
5 MERK Merck Tbk 0.37 0.07 0.15 0.58 (1.10) 1.01 1.08
6 PYFA Pyridam Farma Tbk 0.02 0.00 0.06 0.05 (0.13) 0.13 0.13 7 SCPI Schering Plough Indonesia Tbk (0.16) 0.17 0.37 0.07 1.76 (1.59) 0.62 8 SQBI Taisho Pharmaceutical Indonesia Tbk 0.05 0.09 0.55 (2.52) 2.09 1.00 1.26 9 TSPC Tempo Scan Pasific Tbk 0.03 0.02 0.08 0.10 0.18 0.16 0.57
0.51 0.53 1.80 (1.28) 3.70 1.69 6.95
JUMLAH
Tabel 1.7 Perkembangan
Degree of Operating Leverage
(DOL)
Perusahaan Farmasi di BEI Tahun 2006 - 2011
No. Kode
Perusahaan Nama Perusahaan
DOL
Lampiran 9
2006 2007 2008 2009 2010 2011
1 DVLA Darya Varia Laboratoria Tbk 0.07 0.01 (0.01) 0.50 0.07 0.05 0.69
2 INAF Indofarma Tbk 0.50 0.24 0.16 (0.24) (0.07) 0.15 0.74
3 KAEF Kimia Farma Tbk 0.21 0.08 0.14 0.06 0.12 0.09 0.70
4 KLBF Kalbe Farma Tbk 0.03 0.15 0.12 0.15 0.13 0.07 0.65
5 MERK Merck Tbk 0.26 0.12 0.16 0.18 0.06 0.15 0.93
6 PYFA Pyridam Farma Tbk 0.55 0.41 0.38 0.10 0.07 0.07 1.58
7 SCPI Schering Plough Indonesia Tbk (0.07) 0.38 0.20 0.40 (0.09) 0.05 0.87 8 SQBI Taisho Pharmaceutical Indonesia Tbk 0.46 0.07 0.38 (0.06) (0.09) 0.12 0.88
9 TSPC Tempo Scan Pasific Tbk 0.09 0.14 0.16 0.24 0.14 0.13 0.90
2.10 1.60 1.69 1.33 0.34 0.88 7.94
Lampiran 10
2006 2007 2008 2009 2010 2011
1 DVLA Darya Varia Laboratoria Tbk 0.01 0.01 0.14 (0.06) (0.31) 0.09 (0.12)
2 INAF Indofarma Tbk 0.32 0.47 (0.04) (0.17) (0.08) 0.52 1.02
3 KAEF Kimia Farma Tbk 0.07 0.10 0.04 0.08 0.06 0.08 0.43
4 KLBF Kalbe Farma Tbk 0.00 0.11 0.11 0.14 0.08 0.18 0.62
5 MERK Merck Tbk 0.30 0.17 0.13 0.16 0.00 0.34 1.10
6 PYFA Pyridam Farma Tbk 0.09 0.14 0.04 0.01 0.01 0.17 0.46
7 SCPI Schering Plough Indonesia Tbk 0.34 0.30 0.55 0.03 0.13 0.34 1.69
8 SQBI Taisho Pharmaceutical Indonesia Tbk 0.26 0.10 0.30 0.08 0.00 0.13 0.87
9 TSPC Tempo Scan Pasific Tbk 0.06 0.12 0.07 0.10 0.10 0.18 0.63
1.45 1.52 1.34 0.37 (0.01) 2.03 6.70
Lampiran 11
2006 2007 2008 2009 2010 2011
1 DVLA Darya Varia Laboratoria Tbk 0.24 0.28 0.28 0.30 0.49 0.52 2.11
2 INAF Indofarma Tbk 0.13 0.08 0.09 0.13 0.13 0.31 0.87
3 KAEF Kimia Farma Tbk 0.32 0.29 0.28 0.26 0.25 0.24 1.64
4 KLBF Kalbe Farma Tbk 0.22 0.23 0.23 0.22 0.23 0.22 1.35
5 MERK Merck Tbk 0.16 0.14 0.15 0.15 0.15 0.11 0.86
6 PYFA Pyridam Farma Tbk 0.72 0.63 0.57 0.54 0.53 0.47 3.46
7 SCPI Schering Plough Indonesia Tbk 0.31 0.26 0.18 0.17 0.13 0.13 1.18 8 SQBI Taisho Pharmaceutical Indonesia Tbk 0.27 0.29 0.24 0.20 0.23 0.22 1.45
9 TSPC Tempo Scan Pasific Tbk 0.25 0.23 0.22 0.22 0.21 0.21 1.34
Lampiran 12
2006 2007 2008 2009 2010 2011
1 DVLA Darya Varia Laboratoria Tbk 6.32 6.33 6.46 6.40 6.02 6.10 37.63
2 INAF Indofarma Tbk 6.53 6.92 6.87 6.68 6.60 7.02 40.62
3 KAEF Kimia Farma Tbk 7.14 7.23 7.28 7.36 7.41 7.49 43.91
4 KLBF Kalbe Farma Tbk 8.44 8.54 8.65 8.78 8.86 9.02 52.29
5 MERK Merck Tbk 5.64 5.80 5.93 6.07 6.07 6.37 35.88
6 PYFA Pyridam Farma Tbk 4.42 4.56 4.59 4.60 4.61 4.77 27.55
Lampiran 13
Lampiran 14
Nilai Durbin-Watson untuk Uji Autokorelasi
Model Summaryb
Model R R Square
Adjusted R Square
Std. Error of the Estimate
Change Statistics
Durbin-Watson R Square
Change F Change df1 df2 Sig. F Change
1 .826a .682 .608 .29556 .682 9.213 10 43 .000 1.911
Lampiran 15
Nilai Tolerance dan VIF untuk Uji Multikolinieritas
Coefficientsa
a. Dependent Variable: Debt to Equity Ratio (DER)
Lampiran 16
Lampiran 17
Hasil Regresi Berganda untuk Uji F
ANOVA
a. Predictors: (Constant), Rasio Pertumbuhan Aktiva (RPA), Return on Equity (ROE), Degree of Leverage (DOL), Fixed Asset Turn Over (FATO), Receivable Turn Over Ratio (RTO), Rasio Pertumbuhan Penjualan (RPP), Ukuran Perusahaan (UP), Current Ratio (CR), Rasio Struktur Aktiva (RSA), Net Profit Margin (NPM)
b. Dependent Variable: Debt to Equity Ratio (DER)
Variables Entered/Removedb
Model Variables Entered
Variables
Removed Method
1 Rasio Pertumbuhan Aktiva (RPA), Return on Equity (ROE), Degree of Leverage (DOL), Fixed Asset Turn Over (FATO), Receivable Turn Over Ratio (RTO), Rasio Pertumbuhan Penjualan (RPP), Ukuran Perusahaan (UP), Current Ratio (CR), Rasio Struktur Aktiva (RSA), Net Profit Margin (NPM)
. Enter
a. All requested variables entered.
Lampiran 18
Hasil Regresi Berganda untuk Uji t
Coefficientsa
Model
Unstandardized Coefficients
Standardized
Coefficients
t Sig.
B Std. Error Beta
1 (Constant) -.520 .442 -1.176 .246
Current Ratio (CR) -.163 .039 -.613 -4.187 .000
Receivable Turn Over Ratio (RTO) -.025 .020 -.129 -1.243 .220
Net Profit Margin (NPM) 3.789 1.517 .761 2.498 .016
Rasio Struktur Aktiva (RSA) 1.276 .572 .379 2.231 .031
Ukuran Perusahaan (UP) .091 .043 .250 2.134 .039
Degree of Leverage (DOL) -.103 .067 -.137 -1.542 .130
Fixed Asset Turn Over (FATO) .126 .020 .937 6.263 .000
