DAFTAR PUSTAKA Alwi, Iskandar Z, 2008. Pasar Modal Teori dan Aplikasi,
Yayasan Pancur Siwah, Jakarta.
Baltagi, B. H. 2008. Econometrics (4th ed). Verlag Berlin Heidelberg: Springer. Brigham, F. Eugene dan Houston, Joel. 2014.
Dasar–dasar Manajemen Keuangan Assetials Of Financial Management. Jakarta: Salemba Empat.
Daniel, 2015.Pengaruh Faktor Internal Terhadap Harga Saham Pada Perusahaan LQ 45 Yang Terdaftar Di Bursa Efek Indonesia. Jurnal EMBA
Vol.3 No.3 Sept. 2015, Hal.863-876.ISSN 2303-11.
Darmadji,Tjipto dan Hendry,M.Fakhruddin. 2012. Pasar Modal di Indonesia Pendekatan Tanya jawab.. Jakarta: Salemba Empat.
Dina dan Suaryana,2013.Pengaruh EPS,DER dan PBV terhadap harga saham.
E-Jurnal Akuntansi Uniersitas Udayana 4.1 2013,hal 215-229. ISSN 2303-8556
Gujarati, D. N dan Porter, D.C. 2012. Dasar-dasar Ekonometrika. Jakarta : Salemba Empat
Hanafi, M.M. dan Halim, A. 2007. Manajemen Keuangan, Yogyakarta. Penerbit BPFE
Harianto,Wahidahwati Dan Priyadi, 2013.Pengaruh Rasio Keuangan Terhadap Harga Saham Pada Perusahaan Manufaktur Yang Terdaftar di BEI. Jurnal Ilmu Dan Riset Akuntansi Vol.2 No.12 (2013).
Hery. 2015. Analisis Kinerja Manajemen. Jakarta : Grasindo
Horne, C. Van James dan Jhon, M. Wachowicz. 2012. Prinsip-prinsip Manajemen Keuangan (terjemahan). Jakarta: Salemba Empat.
https://parahita.wordpress.com/2014/09/29/kinerja-keseluruhan-emiten-selama-satu-dekade/
Jiwandono, 2014.Analisis Faktor Fundamental Terhadap Harga Saham Sektor Perbankan Yang Go Public di INDEKS KOMPAS 100. Jurnal Ilmu Manajemen I Volume 2 Nomor 3 Juli 2014
Jogiyanto. 2008. Metodologi Penelitian Sistem Informasi. CV Andi Offset. Yogyakarta
Kasmir. 2011. Analisis Laporan Keuangan. Jakarta: PT Raja Grafindo Persada.
Luthfi, 2013. Pengaruh EPS,PER,ROA,DER dan MVA terhadap harga saham dalam kelompok JII, Management Analysis Journal 2 Volume 2 November 2013
Mardiyanto handoyo, 2009. Intisari manjemen keuangan.jakarta: PT Grasindo Martono dan Harjito. 2010. Manajemen Keuangan. Yogyakarta: Ekonisia.
Mifta Dan Fuadati 2012. Pengaruh Current Ratio,Debt To Equity Ratio,Return On Equity Dan Earning Per Share Terhadap Harga Saham Perusahaan Semen Yang Terdaftar di Bursa Efek Indonesia. Jurnal Ilmu Dan Riset Manajemen Vol.1 No.2 (2012).
Munawir, S. 2008. Analisa Laporan Keuangan. Edisi keempat Cetakan kelima, Yogyakarta:Liberty.
Nachrowi, D. N. & H. Usman. 2006. Pendekatan Populer dan Praktis Ekonometrika untuk Analisis Ekonomi dan Keuangan. Jakarta:Lembaga Penerbit FE UI.
Priyatno, Duwi. 2013. Analisis korelasi, Regresi, dan Multivariate dengan SPSS. Yogyakarta : Gava Media
Prawironegoro, Darsono. 2006. Manajemen Keuangan. Jakarta: Diadet Media. Rakasetya , Darminto dan Dzulkirom AR. 2013. Pengaruh Faktor Mikro Dan
Faktor Makro Ekonomi Terhadap Harga Saham Perusahaan Mining And Mining Services Yang Terdaftar Di Bursa Efek Indonesia (BEI) periode 2008-2011. Jurnal Administrasi Bisnis (JAB) | Vol. 6 No. 2 Desember 2013 | administrasibisnis.studentjournal.ub.ac.id.
Riduwan, D. dan Barlian, I. 2006. Analisis Laporan Keuangan:Konsep dan Aplikasi.Edisi Kedua Cetakan Kedua. Yogyakarta. Penerbit UPP STIM YKPN.
Rizal Dan Permatasari, 2015. Pengaruh Kinerja Keuangan DER dan ROE Terhadap Perubahan Harga Saham Pada Perusahaan Manufaktur Yang Terdaftar di BEI (periode 2009-2013) . Jurnal Akuntansi & Keuangan Vol. 6, No. 2, September 2015 Halaman 79-95
Rosadi, Dedi. 2011. Ekonometrika & Analisis Runtun Waktu Terapan dengan R. Yogyakarta: C. V. Andi Offset.
Rusli , linda 2011. Pengaruh Likuiditas dan Profitabilitas Terhadap Harga Saham Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. Jurnal Bisnis Manajemen dan Ekonomi, Volume 10, No. 2, Mei 2011, hal. 2671-2684 .ISSN: 1693-8305
Sanjaya, Dwiatmanto Dan Endang NP, 2015. Pengaruh Return,On Equity (ROE), Debt,Ratio (DR), Debt To Equity Ratio (DER), Earning,Per Share (EPS) Terhadap,Harga Saham (Studi pada,perusahaan Food,and Beverage yang,terdaftar di,Bursa Efek,Indonesia Periode 2011-2013). Jurnal Administrasi Bisnis (JAB)|Vol. 23 No. 1 Juni 2015| administrasibisnis.studentjournal.ub.ac.id.
Sondakh, Tommy, Mangantar, 2015. Current Ratio, Debt To Equity Ratio, Return On Asset, Return On Equity Pengaruhnya Terhadap Harga Saham Pada INDEKS LQ 45 di BEI periode 2010-2014. Jurnal EMBA Vol.3 No.2 Juni 2015, Hal. 749-756.ISSN 2303-1174.
Sugiyono. 2014. Metode Penelitian Kuantitatif Kualitatif dan R& D. Bandung: Alfabeta.
Sutrisno. 2006. Manajemen Keuangan. Edisi Pertama. Yogyakarta.Ekonisia. Valintino Dan Sularto, 2013.Pengaruh ROA,CR,ROE,DER dan Terhadap
Harga Saham Perusahaan Manufaktur Sektor Industri Barang Konsumsi di BEI. Proceeding PESAT (Psikologi,Ekonomi,Sastra, Arsitektur & Teknik Sipil) Bandung, 8-9 Oktober 2013 Vol. 5 Oktober 2013 .ISSN: 1858-2559
Lampiran 1 : KONDISI HARGA SAHAM ,EPS DAN ROA TAHUN 2011-2015
Tahun Harga Saham EPS ROA
2011 440 162.07 0.0476 2012 470 203.18 0.045137 2013 420 288.12 0.044686 2014 505 282.47 0.027579 2015 660 19594.31 0.065171 2011 450 -22.96252 -0.01482 2012 193 -130.664 -0.07965 2013 80 -155.799 -0.08504 2014 95 -418.2108 -0.2907 2015 52 -7482.823 -0.0765 2011 180 -20.57899 0.065494 2012 134 -12.0726 -0.00212 2013 79 -11.2963 -0.0015 2014 103 -10.96499 -0.0166 2015 60 8934395.513 0.014493 2011 1980 611.59 0.474223 2012 1420 14.24 0.011495 2013 1000 29.93 0.024407 2014 770 654 0.005449 2015 785 246.93 0.012559 2011 300 31.09 0.007651 2012 345 4.706667 0.202803 2013 250 11.09333 551.825 2014 318 161 0.027349 2015 357 5146041.71 1.225167 2011 500 48.21 0.066236 2012 620 15.9745 0.020773 2013 500 -22.3923 -0.02495 2014 900 -10.78831 -0.01229 2015 600 -338.96 -0.00519 2011 580 73.04 0.054136
Tahun Harga Saham EPS ROA 2012 365 20.88892 0.014029 2013 220 6.087169 0.003527 2014 165 -79.0072 -0.05301 2015 107 -91.06 -0.05753 2011 1100 -417.85 -0.08221 2012 1000 -354.08 -0.06574 2013 1200 243.3 0.03486 2014 1150 1122.71 -0.20801 2015 850 26217.13 -0.06513 2011 160 2.2 0.006949 2012 160 -20.598 -0.05334 2013 190 -39.6228 -0.09057 2014 193 -39.44375 -0.09174 2015 200 75.01 -0.1817 2011 225 56.48 -0.04483 2012 375 -67.683 -0.05506 2013 305 -9.39673 -0.00445 2014 128 -97.37969 -0.06998 2015 110 -72.26 -0.05253 2011 325 1031.88 0.033841 2012 280 42.44 43.32867 2013 630 53.37 54.38608 2014 900 173.67 57.53292 2015 216 479,52 77.66901 2011 340 13.19 0.004236 2012 400 26.11353 -55.7701 2013 356 48.05085 0.107336 2014 350 33.159156 0.07159 2015 350 35262189.98 0.065202 2011 81 0.54 0.003603 2012 50 0.191875 0.001253 2013 50 0.118542 0.000759 2014 50 0.0727083 0.00045 2015 80 63934.49 0.007436 2011 950 2.38 0.0037 2012 415 -109.838 0.01048 2013 390 -185.25 -0.11939 2014 885 -65.97717 -0.02396 2015 600 -92.35 -0.06817
Lampiran 2 : Rerangka Pemikiran
H1
H2
Lampiran 3 : Variabel Dan Skala
Variabel Definisi secara operasional
Rumus Skala
pengukuran EPS (X1) Rasio antara
pendapatan setelah pajak dengan jumlah saham yang beredar (Nachrowi, 2006) Rupiah ROA (X2) Rasio produktif setelah pajak dengan jumlah total asset
( Brigham dan Houston,2006 ).
Rasio Harga Saham (Y) Persentase perubahan harga saham, Harga saham periode sekarang dengan Harga saham perode lalu
harga saham periode akhir tahun
Rupiah EPS (X1)
ROA (X2)
Lampiran 4 : SAMPEL PERUSAHAAN DALAM PENELITIAN
No KODE PERUSAHAAN NAMA PERUSAHAAN
1 ADMG Polychem Indonesia Tbk.
2 ARGO Argo Pantes Tbk.
3 ERTX Eratex Djaja Tbk.
4 ESTI Ever Shine Textile Industry Tbk.
5 HDTX Panasia Indo Resources Tbk.
6 INDR Indo-Rama Synthetics Tbk.
7 MYTX Apac Citra Centertex Tbk.
8 PBRX Pan Brothers Tbk.
9 POLY Asia Pacific Fibers Tbk.
10 SSTM Sunson Textile Manufacturer Tbk.
11 STAR Star Petrochem Tbk.
12 TFCO Tifico Fiber Indonesia Tbk.
13 TRIS Trisula International Tbk.
14 UNIT Nusantara Inti Corpora Tbk.
Lampiran 5 : STATISTIK DESKRIPTIF HARGA SAHAM
2011 2012 2013 2014 2015 Mean 456.14 458.57 358.79 387.36 382.43 Max 1.980 1.420 1.200 1.150 990 Min 0 13 34 26 3 std.dev 517.48 407.82 347.65 354.49 342.01 (Perhitungan excel)
Lampiran 6 : STATISTIK DESKRIPTIF EARNING PER SHARE
2011 2012 2013 2014 2015 Mean 104.17 (26.23) 18.35 (38.58) 3,528,036.63 Max 1,031.88 203.18 288.12 654.00 35,262,189.98 Min 417.85 354.08 185.25 1,122 26,217 std.dev 339.7655698 122.3827005 125.3893794 392.3408836 9508999.104 (Perhitungan excel)
Lampiran 7 : STATISTIK DESKRIPTIF RETURN ON ASSET 2011 2012 2013 2014 2015 Mean 0.044708048 -0.885100065 43.29291064 4.064217283 5.611135067 Max 0.474222538 43.32867133 551.825 57.53292181 77.66901408 Min -0.082108511 -55.7701005 -0.119386916 -0.290702289 -0.181703709 std.dev 0.130397161 19.56600432 147.0815723 15.38965333 20.74247108 ( Perhitungan Excel )
Lampiran 8 : UNIT ROOT TEST HARGA SAHAM Unit Root Test Harga Saham
Null Hypothesis: Unit root (individual unit root process) Series: HS
Date: 11/30/16 Time: 16:39 Sample: 2011 2015
Exogenous variables: Individual effects Automatic selection of maximum lags
Automatic lag length selection based on SIC: 0 Total (balanced) observations: 56
Cross-sections included: 14
Method Statistic Prob.**
ADF - Fisher Chi-square 48.4351 0.0096
ADF - Choi Z-stat -2.18771 0.0143
** Probabilities for Fisher tests are computed using an asymptotic Chisquare distribution. All other tests assume asymptotic
normality
Intermediate ADF test results HS Cross
section Prob. Lag Max Lag Obs
1 0.9432 0 0 4 2 0.0085 0 0 4 3 0.4887 0 0 4 4 0.0338 0 0 4 5 0.2950 0 0 4 6 0.1938 0 0 4 7 0.0049 0 0 4 8 0.4801 0 0 4 9 0.7451 0 0 4 10 0.7330 0 0 4 11 0.4089 0 0 4 12 0.1840 0 0 4
13 0.2626 0 0 4
14 0.1567 0 0 4
Sumber: Hasil Output Eviews 9
Lampiran 9 : UNIT ROOT TEST EARNING PER SHARE Unit Root Test Earning Per Share Null Hypothesis: Unit root (individual unit root process) Series: D(EPS)
Date: 11/30/16 Time: 16:40 Sample: 2011 2015
Exogenous variables: Individual effects Automatic selection of maximum lags
Automatic lag length selection based on SIC: 0 Total (balanced) observations: 42
Cross-sections included: 14
Method Statistic Prob.**
ADF - Fisher Chi-square 56.8893 0.0010
ADF - Choi Z-stat 0.90937 0.8184
** Probabilities for Fisher tests are computed using an asymptotic Chi
-square distribution. All other tests assume asymptotic normality.
Intermediate ADF test results D(EPS) Cross
section Prob. Lag Max Lag Obs
1 0.3125 0 0 3 2 0.9938 0 0 3 3 0.7055 0 0 3 4 0.3416 0 0 3 5 0.9994 0 0 3 6 0.0000 0 0 3 7 0.0687 0 0 3 8 0.9723 0 0 3 9 0.9999 0 0 3 10 0.0001 0 0 3 11 0.9456 0 0 3 12 0.0628 0 0 3 13 0.9468 0 0 3 14 0.4550 0 0 3
Lampiran 10 : UNIT ROOT TEST RETURN ON ASSET Unit Root Test Return On Asset
Null Hypothesis: Unit root (individual unit root process) Series: ROA
Date: 11/30/16 Time: 16:41 Sample: 2011 2015
Exogenous variables: Individual effects Automatic selection of maximum lags
Automatic lag length selection based on SIC: 0 Total (balanced) observations: 56
Cross-sections included: 14
Method Statistic Prob.**
ADF - Fisher Chi-square 57.0640 0.0010
ADF - Choi Z-stat -3.11231 0.0009
** Probabilities for Fisher tests are computed using an asymptotic Chi
-square distribution. All other tests assume asymptotic normality.
Intermediate ADF test results ROA Cross
Section Prob. Lag Max Lag Obs
1 0.0917 0 0 4 2 0.2941 0 0 4 3 0.0350 0 0 4 4 0.0001 0 0 4 5 0.2747 0 0 4 6 0.1431 0 0 4 7 0.6662 0 0 4 8 0.1777 0 0 4 9 0.8440 0 0 4 10 0.1737 0 0 4 11 0.1716 0 0 4 12 0.2760 0 0 4 13 0.5139 0 0 4 14 0.2589 0 0 4
Lampiran 11 COMMON EFFECT
Common Effect Dependent Variable: HS
Method: Panel Least Squares Date: 11/30/16 Time: 16:42 Sample: 2011 2015
Periods included: 5
Cross-sections included: 14
Total panel (balanced) observations: 70
Variable Coefficient Std. Error t-Statistic Prob. C 450.6199 46.59265 9.671480 0.0000 EPS -5.58E-06 1.05E-05 -0.532211 0.5963 ROA -0.301742 0.678216 -0.444906 0.6578 R-squared 0.006962 Mean dependent var 443.5286 Adjusted R-squared -0.022681 S.D. dependent var 375.8051 S.E. of regression 380.0430 Akaike info criterion 14.76036 Sum squared resid 9676989. Schwarz criterion 14.85672 Log likelihood -513.6125 Hannan-Quinn criter. 14.79863 F-statistic 0.234873 Durbin-Watson stat 0.324353 Prob(F-statistic) 0.791320
Sumber : Hasil Output Eview 9 Lampiran 12 : FIXED EFFECT
Fixed Effect
Dependent Variable: HS Method: Panel Least Squares Date: 11/30/16 Time: 16:43 Sample: 2011 2015
Periods included: 5
Cross-sections included: 14
Total panel (balanced) observations: 70
Variable Coefficient Std. Error t-Statistic Prob. C 445.2460 24.85456 17.91406 0.0000 EPS -5.506207 6.140306 -0.089669 0.9289 ROA -0.127410 0.404014 -0.315361 0.7537
Effects Specification Cross-section fixed (dummy variables)
R-squared 0.774706 Mean dependent var 443.5286 Adjusted R-squared 0.712125 S.D. dependent var 375.8051 S.E. of regression 201.6345 Akaike info criterion 13.64842 Sum squared resid 2195450. Schwarz criterion 14.16236 Log likelihood -461.6948 Hannan-Quinn criter. 13.85257 F-statistic 12.37915 Durbin-Watson stat 1.402503 Prob(F-statistic) 0.000000
Sumber: Hasil Output Eviews 9
Lampiran 13 : RANDOM EFFECT
Random Effect
Dependent Variable: HS
Method: Panel EGLS (Cross-section random effects) Date: 11/30/16 Time: 16:44
Sample: 2011 2015 Periods included: 5
Cross-sections included: 14
Total panel (balanced) observations: 70
Swamy and Arora estimator of component variances
Variable Coefficient Std. Error t-Statistic Prob. C 445.6414 97.44568 4.573229 0.0000 EPS 9.192307 6.102506 0.150694 0.8807 ROA 0.140358 0.400816 0.350181 0.0345 2 Effects Specification S.D. Rho Cross-section random 352.5587 0.7535 Idiosyncratic random 201.6345 0.2465 Weighted Statistics
R-squared 0.002201 Mean dependent var 109.9031 Adjusted R-squared 0.027584 S.D. dependent var 196.4567 S.E. of regression 199.1478 Sum squared resid 2657210. F-statistic 0.073891 Durbin-Watson stat 1.158761 Prob(F-statistic) 0.038849
R-squared 0.003269 Mean dependent var 443.5286 Sum squared resid 9712981. Durbin-Watson stat 0.317006
Sumber: Hasil Ouput Eviews 9 Lampiran 14 : UJI CHOW
Uji Chow-Test
Redundant Fixed Effects Test Equation:FIXED
Test cross-section fixed effects
Effects Test Statistic d.f. Prob.
Cross-section F 14.155262 (13,54) 0.0000 Cross-section Chi-square 103.835476 13 0.0000
Sumber: Hasil Ouput Eviews 9 Lampiran 15 : UJI HOUSMENT
Uji Housment
Correlated Random Effects – Hausman Test Equation: RANDOM
Test cross-section random effects
Test Summary Statistic Chi-Sq. d.f. Chi-Sq. Prob.
Cross-section random 0.357614 2 0.8363
Lampiran 16 : KOEFISIEN DETERMINASI R2
Koefisien Determinasi (R2) Effects Specification S.D. Rho Cross-section random 352.5587 0.7535 Idiosyncratic random 201.6345 0.2465 Weighted Statistics
R-squared 0.002201 Mean dependent var 109.9031 Adjusted R-squared 0.027584 S.D. dependent var 196.4567
Lampiran 17 : UJI F-STATISTIK Uji F Effects Specification S.D. Rho Cross-section random 352.5587 0.7535 Idiosyncratic random 201.6345 0.2465 Weighted Statistics
F-statistic 0.073891 Durbin-Watson stat 1.158761 Prob(F-statistic) 0.038849
Sumber: Hasil Ouput Eviews 9 Lampiran 18 : UJI STATISTIK EPS
Uji Statistik t (EPS) Dependent Variable: HS
Method: Panel EGLS (Cross-section random effects) Date: 11/30/16 Time: 16:44
Sample: 2011 2015 Periods included: 5
Cross-sections included: 14
Total panel (balanced) observations: 70
Swamy and Arora estimator of component variances
Variable Coefficient Std. Error t-Statistic Prob. C 445.6414 97.44568 4.573229 0.0000 EPS 9.192307 6.102506 0.150694 0.8807 Sumber: Hasil Ouput Eviews 9
Lampiran 19 : UJI STATISTIK ROA
Uji Statistik t (ROA) Dependent Variable: HS
Method: Panel EGLS (Cross-section random effects) Date: 11/30/16 Time: 16:44
Periods included: 5
Cross-sections included: 14
Total panel (balanced) observations: 70
Swamy and Arora estimator of component variances
Variable Coefficient Std. Error t-Statistic Prob. C 445.6414 97.44568 4.573229 0.0000 ROA 0.140358 0.400816 0.350181 0.0345
