ABSTRAK
PENGARUH ANALISIS PRICE EARNING RATIO, PRICE BOOK VALUE DAN MARKET VALUE ADDED TERHADAP EXPECTED
RETURN SAHAM
Tujuan penelitian ini adalah untuk mengetahui pengaruh rasio keuangan perusahaan secara empiris, baik secara parsial maupun secara simultan terhadap
Expected Return Saham. Rasio keuangan yang diuji adalah Price earning Ratio (PER), Price to Book Value (PBV), dan Market Value Added (MVA).
Penelitian ini merupakan jenis penelitian kausal yang bersifat replikasi terhadap penelitian sebelumnya dengan populasi penelitian adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2009-2011. Data yang digunakan adalah data sekunder dengan sampel 20 perusahaan. Metode statistik yang digunakan adalah regresi linier berganda dan dilakukan uji asumsi klasik terlebih dahulu.
Hasil penelitian ini menunjukkan bahwa varibel PER, PBV, dan MVA secara simultan tidak berpengaruh secara signifikan terhadap expected return saham. Secara parsial variabel PER berpengaruh secara signifikan terhadap
expected return saham sedangkan variabel PBV dan MVA tidak berpengaruh secara signifikan terhadap expected return saham.
Kata kunci : PER, PBV, MVA dan Expected Return Saham
ABSTRACT
THE INFLUENCE ANALYSIS OF PRICE EARNING RATIO, PRICE BOOK VALUE AND MARKET VALUE ADDED TO
EXPECTED STOCK RETURN
The purpose of this reseacrh is to empirically study of the effect of financial ratio either partially or simultaneously to expected stock return. There are three financial research, they are Price Earning Ratio (PER), Price Book Value (PBV), and Market Value added (MVA).
This research in classified as causal research and replication to former research. Population of this research are manufaktur firms listed in Indonesia Stock exchange (IDX) during 2009-2011. The data using in this sampled is data secunder and 20 used as sampled of this research. Statistic method using multiple regresion analysis and the method has bbeen tested in classic assumption.
The result indicates that PER, PBV, and MVA variables have not
significantly influence to expected stock return simultaneously.Partially indicate only PER variable have significantly influence to expected stock return, PBV and MVA variables have not significantly influence to expected stock return.
Key Word: PER, PBV, MVA and Expected Stock Return
