LAMPIRAN
Proses Pemilihan Sampel
No
Kode
Saham
Kriteria Sampel
Keterangan
Sampel
1
2
3
4
1
AGRO
-
2
BABP
-
-
3
BACA
Sampel 1
4
BAEK
Sampel 2
5
BBCA
Sampel 3
6
BBKP
Sampel 4
7
BBMD
-
8
BBNI
Sampel 5
9
BBNP
Sampel 6
10
BBRI
Sampel 7
11
BBTN
Sampel 8
12
BCIC
-
13
BDMN
Sampel 9
14
BEKS
-
-
15
BINA
-
16
BJBR
-
17
BJTM
-
18
BKSW
-
19
BMAS
-
20
BMRI
Sampel 10
21
BNBA
Sampel 11
22
BNGA
Sampel 12
23
BNII
Sampel 13
24
BNLI
Sampel 14
25
BSIM
-
26
BSWD
Sampel 15
27
BTPN
Sampel 16
28
BVIC
Sampel 17
29
DNAR
-
30
INPC
Sampel 18
31
MAYA
Sampel 19
32
MCOR
Sampel 20
33
MEGA
Sampel 21
34
NAGA
-
35
NISP
Sampel 22
36
NOBU
-
37
PNBN
Sampel 23
38
PNBS
-
39
SDRA
-
40
ADMF
Sampel 24
41
BBLD
Sampel 25
42
BFIN
Sampel 26
43
BPFI
Sampel 27
44
CFIN
Sampel 28
45
DEFI
Sampel 29
46
HDFA
-
47
IMJS
-
48
MFIN
Sampel 30
49
MNGA
-
50
TIFA
-
51
TRUS
Sampel 31
52
VRNA
Sampel 32
53
WOMF
Sampel 33
54
AKSI
-
55
HADE
Sampel 34
56
KREN
Sampel 35
57
OCAP
-
58
PADI
-
59
PANS
Sampel 36
60
PEGE
Sampel 37
61
RELI
Sampel 38
62
TRIM
-
63
YULE
-
64
ABDA
Sampel 39
65
AHAP
Sampel 40
66
AMAG
Sampel 41
67
ASBI
-
68
ASDM
Sampel 42
69
ASJT
Sampel 43
70
ASMI
-
71
ASRM
Sampel 44
72
LPGI
-
73
MREI
Sampel 45
74
PNIN
Sampel 46
75
APIC
Sampel 47
76
ARTA
Sampel 48
77
BCAP
Sampel 49
79
GSMF
-
80
LPPS
-
81
MTFN
-
82
PNLF
-
83
SMMA
Sampel 50
84
VICO
-
Perusahaan yang Menjadi Sampel
No
Kode Saham
Nama Emiten
1
BACA
Bank Capital Indonesia Tbk
2
BAEK
Bank Ekonomi Raharja
3
BBCA
Bank Central Asia Tbk
4
BBKP
Bank Bukopin Tbk
5
BBNI
Bank Negara Indonesia Tbk
6
BBNP
Bank Nusantara Parahyangan
7
BBRI
Bank Rakyat Indonesia Tbk
8
BBTN
Bank Tabungan Negara (Persero) Tbk
9
BDMN
Bank Danamon Indonesia Tbk
10
BMRI
Bank Mandiri (Persero) Tbk
11
BNBA
Bank Bumi Arta Tbk
12
BNGA
Bank CIMB Niaga Tbk
13
BNII
Bank Internasional Tbk
14
BNLI
Bank Permata Tbk
15
BSWD
Bank of India Indonesia Tbk
16
BTPN
Bank Tabungan Pensiunan Nasional Tbk
17
BVIC
Bank Victoria International Tbk
18
INPC
Bank Artha Graha International Tbk
19
MAYA
Bank Mayapada International Tbk
20
MCOR
Bank Windu Kentjana International
21
MEGA
Bank Mega Tbk
22
NISP
Bank NISP OCBC Tbk
23
PNBN
Bank Pan Indonesia Tbk
24
ADMF
Adira Dinamika Multi Finance Tbk
25
BBLD
Buana Finance Tbk
26
BFIN
BFI Finance Tbk
27
BPFI
Batavia Prosperindo Finance Tbk
28
CFIN
Clipan Finance Indonesia Tbk
29
DEFI
Danasupra Erapacific Tbk
30
MFIN
Mandala Multifinance Tbk
31
TRUS
Trust Finance Indonesia Tbk
32
VRNA
Verena Multi Finance Tbk
33
WOMF
Wahana Ottomitra Multiartha Tbk
34
HADE
HD Capital Tbk
35
KREN
Kresna Graha Sekurindo Tbk
36
PANS
Panin Sekuritas Tbk
37
PEGE
Panca Global Securitiest
38
RELI
Reliance Securities Tbk
39
ABDA
Asuransi Bina Darta Tbk
40
AHAP
Asuransi Harta Aman Pratama Tbk
41
AMAG
Asuransi Multi Artha Guna Tbk
42
ASDM
Asuransi Dayin Mitra Tbk
43
ASJT
Asuransi Jasa Tania Tbk
44
ASRM
Asuransi Ramayana Tbk
45
MREI
Maskapai Reasuransi
46
PNIN
Panin Insurance Tbk
47
APIC
Pacific Strategic Financia Tbk
48
ARTA
Artavest Tbk
49
BCAP
PT MNC Kapital Indonesia Tbk
50
SMMA
Sinar Mas Multiarta Tbk
Hasil Tabulasi Data
Perhitungan Index Smothing
Nama Perusahaan CV Laba CV
Pendapatan
Index Smoothing Bank Capital Indonesia Tbk 0,382265856 1,390363374 0,274939533 Bank Ekonomi Raharja Tbk 0,297568217 0,141293276 2,106032405 Bank Central Asia Tbk 0,542865879 0,302473423 1,794755631 Bank Bukopin Tbk 0,247131691 0,152768635 1,617686066 Bank Negara Indonesia (Persero) Tbk 0,238402554 0,147081331 1,620889285 Bank Nusantara Parahyangan Tbk 0,334349641 0,294945073 1,133599684 Bank Rakyat Indonesia Tbk 0,243444384 0,111187472 2,189494731 Bank Tabungan Negara (Persero) Tbk 0,225399738 0,218924525 1,029577378 Bank Danamon Indonesia Tbk 0,172341294 0,145300743 1,186100572 Bank Mandiri (Persero) Tbk 0,296710023 0,200916129 1,476785487 Bank Bumi Arta Tbk 0,337369019 0,649680723 0,51928433 Bank CIMB Niaga Tbk 0,237821653 0,149717322 1,588471196 Bank Internasional Indonesia Tbk 0,737476538 0,218471723 3,375615513 Bank Permata Tbk 0,212585815 0,175421849 1,211854828 Bank of India Indonesia Tbk 0,355114072 0,236758887 1,499897541 Bank Tabungan Pensiunan Nasional
Tbk 0,405583053 0,274479308 1,477645278
Ukuran Perusahaan
Nama Perusahaan Total Aktiva LN Aktiva
2011 2012 2013 2011 2012 2013
Bank Capital Indonesia Tbk
4.694.939.000.000
5.666.177.000.000
7.139.276.000.000 29,17751 29,36554 29,59663
Bank Bumi Arta Tbk
4.045.672.277.612 28,71727 28,87906 29,02867
Adira Dinamika Multi Finance Tbk
16.889.452.000.000
25.460.457.000.000
30.994.411.000.000 30,45771 30,86815 31,06483
BFI Finance Tbk
8.293.324.000.000 29,29963 29,51361 29,74647
Batavia Prosperindo Finance Tbk
368.493.042.965
529.226.619.902
799.047.730.064 26,63269 26,99468 27,40669
Clipan Finance Indonesia Tbk
4.785.503.756.000
4.853.634.854.000
6.074.469.071.000 29,19661 29,21075 29,43512
Trust Finance Indonesia Tbk
398.071.054.390
420.849.484.963
335.839.867.603 26,70990 26,76554 26,53990
Verena Multi Finance Tbk
1.512.172.883.000
1.955.435.569.000
2.100.164.342.000 28,04457 28,30163 28,37304
Panin Sekuritas Tbk
1.370.081.722.849 28,07733 28,13896 27,94589
Panca Global Securities
241.131.626.040
178.227.033.261
199.353.075.862 26,20861 25,90632 26,01834
Asuransi Ramayana Tbk
810.254.708.119
1.070.925.850.176
Winner/Losser Stock
Nama Perusahaan Rata-Rata Harga Saham Penutupan Bulanan IHSG Status Saham 2010 2011 2012 2013 2010 2011 2012 2011 2012 2013
Bank Capital Indonesia Tbk
Adira Dinamika Multi Finance Tbk
Batavia Prosperindo Finance Tbk
Clipan Finance Indonesia Tbk
Trust Finance Indonesia Tbk
Verena Multi Finance Tbk
Panca Global Securities
Asuransi Ramayana Tbk
Nilai Perusahaan
Nama PerusahaanPBV 2011
PBV
2012 PBV2013 Bank Capital Indonesia Tbk 0,19 0,83 0,8
Bank Bumi Arta Tbk 0,67 0,73 0,65
Adira Dinamika Multi Finance Tbk 2,87 1,95 1,45
BFI Finance Tbk 1,83 1,08 1,17
Batavia Prosperindo Finance Tbk 1,31 0,96 1,99 Clipan Finance Indonesia Tbk 0,75 0,62 0,56 Trust Finance Indonesia Tbk 1,9 1,09 0,89
Verena Multi Finance Tbk 0,7 0,47 0,38
Panin Sekuritas Tbk 1,18 2,42 2,77
Panca Global Securities 1,09 1 1,15
Asuransi Ramayana Tbk 0,81 1,31 1,17
Debt to Equity Ratio
Nama Perusahaan DER 2011 DER 2012 DER 2013
Bank Capital Indonesia Tbk 6,7119441 7,613987 6,876607 Bank Bumi Arta Tbk 5,2233876 5,666949 6,168059 Adira Dinamika Multi Finance Tbk 2,8199598 4,055924 4,146876 BFI Finance Tbk 1,2418668 1,295888 1,441111 Batavia Prosperindo Finance Tbk 1,2449985 1,807863 2,620954
Clipan Finance Indonesia Tbk 1,2014191 0,981162 1,197049 Trust Finance Indonesia Tbk 1,3923102 1,238944 0,64919 Verena Multi Finance Tbk 7,1515399 7,945392 7,210698 Panin Sekuritas Tbk 0,9910989 0,744566 0,329497
Leverage Financial
Nama Perusahaan
Debt Ratio 2011
Debt Ratio 2012
Debt Ratio 2013
Bank Capital Indonesia Tbk 0,87033101 0,883909733 0,873042028 Bank Bumi Arta Tbk 0,839315811 0,850006356 0,860492217 Adira Dinamika Multi Finance Tbk 0,738217143 0,802212231 0,80570739 BFI Finance Tbk 0,553943172 0,564438666 0,590350504 Batavia Prosperindo Finance Tbk 0,5545654 0,643857276 0,723829712
Clipan Finance Indonesia Tbk 0,545747551 0,495245816 0,544844086 Trust Finance Indonesia Tbk 0,581994015 0,553360865 0,393641868 Verena Multi Finance Tbk 0,877323793 0,888210606 0,878207669
Nama Perusahaan Index Smoothing LN Aktiva
Winner/Losser Stock
Nilai
Perusahaan DER Debt Ratio Bank Capital Indonesia Tbk 0,274939533 29,17750624 0 0,19 6,711944059 0,87033101
Bank Bumi Arta Tbk 0,51928433 28,71727349 1 0,67 5,223387647 0,839315811
Adira Dinamika Multi Finance Tbk 0,219280339 30,4577104 1 2,87 2,819959836 0,738217143
BFI Finance Tbk 0,521807003 29,29962885 1 1,83 1,241866816 0,553943172
Batavia Prosperindo Finance Tbk 0,613322213 26,63268767 1 1,31 1,244998481 0,5545654
Clipan Finance Indonesia Tbk 0,77754511 29,19661241 1 0,75 1,201419062 0,545747551 Trust Finance Indonesia Tbk 0,845269274 26,70989635 0 1,9 1,392310247 0,581994015 Verena Multi Finance Tbk 0,607072381 28,04456873 1 0,7 7,151539876 0,877323793 Panin Sekuritas Tbk 0,918806245 28,07732544 1 1,18 0,991098933 0,497764785
Panca Global Securities 0,502789198 26,20860879 0 1,09 0,679699031 0,40465525 Asuransi Ramayana Tbk 0,693119655 27,42061449 1 0,81 4,929406101 0,831349045 Bank Capital Indonesia Tbk 0,274939533 29,36553576 0 0,83 7,613986573 0,883909733
Bank Bumi Arta Tbk 0,51928433 28,87906341 0 0,73 5,66694917 0,850006356
Adira Dinamika Multi Finance Tbk 0,219280339 30,86814766 1 1,95 4,055924351 0,802212231
BFI Finance Tbk 0,521807003 29,51361044 1 1,08 1,29588791 0,564438666
Batavia Prosperindo Finance Tbk 0,613322213 26,99468257 1 0,96 1,807863067 0,643857276 Clipan Finance Indonesia Tbk 0,77754511 29,21074899 0 0,62 0,981162381 0,495245816
Trust Finance Indonesia Tbk 0,845269274 26,76554109 0 1,09 1,238943974 0,553360865 Verena Multi Finance Tbk 0,607072381 28,30163408 1 0,47 7,945392451 0,888210606 Panin Sekuritas Tbk 0,918806245 28,13896318 0 2,42 0,744566306 0,426791635 Panca Global Securities 0,502789198 25,90632404 1 1 0,113163985 0,101659761
Bank Bumi Arta Tbk 0,51928433 29,02866885 0 0,65 6,168058845 0,860492217
Adira Dinamika Multi Finance Tbk 0,219280339 31,06482801 0 1,45 4,146876155 0,80570739
BFI Finance Tbk 0,521807003 29,74647197 0 1,17 1,441111264 0,590350504
Batavia Prosperindo Finance Tbk 0,613322213 27,40668652 0 1,99 2,620954325 0,723829712
Clipan Finance Indonesia Tbk 0,77754511 29,43511571 0 0,56 1,197049339 0,544844086 Trust Finance Indonesia Tbk 0,845269274 26,5399003 1 0,89 0,649190382 0,393641868 Verena Multi Finance Tbk 0,607072381 28,37303672 1 0,38 7,210697592 0,878207669 Panin Sekuritas Tbk 0,918806245 27,94589151 1 2,77 0,329496881 0,247835768 Panca Global Securities 0,502789198 26,01834334 1 1,15 0,139565407 0,122472484
Hasil Olah Statistik
Hasil Statisitk Deskriptif
Descriptive StatisticsMean Std. Deviation N
Perataan Laba ,5903 ,21077 33
Ukuran Perusahaan 28,3190 1,38337 33
Winner/Losser Stock ,5455 ,50565 33
Nilai Perusahaan 1,1739 ,65656 33
Debt to Equity Ratio 3,2387 2,63204 33
Leverage Finansial ,6436 ,22582 33
Grafik Normal Probability Plot
Hasil Uji Kolmogorov-Smirnov
One-Sample Kolmogorov-Smirnov TestUnstandardized
Residual
N 33
Normal Parametersa,b Mean ,0000000
Std. Deviation ,16520365
Most Extreme Differences Absolute ,091
Positive ,091
Negative -,080
Kolmogorov-Smirnov Z ,521
Asymp. Sig. (2-tailed) ,949
a. Test distribution is Normal.
b. Calculated from data.
Hasil Nilai
Tolerance
dan VIF
Model
Collinearity Statistics
Tolerance
VIF
1 (Constant)
Hasil
Coefficient Correlations
Debt to Equity
Ratio
-,862 -,191 ,332 ,179 1,000
Covarian
ces
Leverage
Finansial
,125 ,005 -,002 -,004 -,009
Winner/Losser
Stock
,005 ,004 ,000 -8,040E-5 ,000
Nilai
Perusahaan
-,002 ,000 ,003 ,000 ,001
Ukuran
Perusahaan
-,004 -8,040E-5 ,000 ,001 ,000
Debt to Equity
Ratio
-,009 ,000 ,001 ,000 ,001
a. Dependent Variable: Perataan Laba
Hasil Uji Park
CoefficientsaModel Unstandardized
Coefficients
Standardized
Coefficients
t Sig. B Std. Error Beta
1 (Constant) -6,290 9,091 -,692 ,495
Ukuran Perusahaan ,141 ,355 ,084 ,397 ,695
Winner/Losser Stock ,305 ,822 ,066 ,371 ,713
Nilai Perusahaan ,740 ,705 ,209 1,050 ,303
Debt to Equity Ratio ,347 ,367 ,393 ,945 ,353
Leverage Finansial -6,979 4,464 -,679 -1,563 ,130
a. Dependent Variable: LnU2i
Hasil Uji Run Test
Runs TestUnstandardized
Residual
Test Valuea ,00084
Cases < Test Value 16
Cases >= Test Value 17
Total Cases 33
Number of Runs 16
Z -,349
Hasil Analisis Regresi Berganda
CoefficientsaModel Unstandardized
Coefficients
Standardized
Coefficients
t Sig. B Std. Error Beta
1 (Constant) 2,645 ,719 3,676 ,001
Ukuran Perusahaan ,073 ,028 -,480 2,602 ,015
Winner/Losser Stock -,025 ,065 -,060 -,384 ,704
Nilai Perusahaan -,023 ,056 -,070 -,404 ,689
Debt to Equity Ratio -,053 ,029 -,656 -1,807 ,082
Leverage Finansial ,354 ,353 ,379 1,002 ,325
a. Dependent Variable: Perataan Laba
Nilai Koefisien Determinasi
Model SummarybModel
R R Square
Adjusted R
Square
Std. Error of the
Estimate
dimension0
1 ,621a ,386 ,272 ,17985
a. Predictors: (Constant), Leverage Finansial, Winner/Losser Stock,
Nilai Perusahaan, Ukuran Perusahaan, Debt to Equity Ratio
b. Dependent Variable: Perataan Laba
Hasil Uji Signifikansi Simultan
ANOVAbModel Sum of
Squares df Mean Square F Sig.
1 Regression ,548 5 ,110 3,390 ,017a
Residual ,873 27 ,032
Total 1,422 32
a. Predictors: (Constant), Leverage Finansial, Winner/Losser Stock, Nilai Perusahaan, Ukuran
Perusahaan, Debt to Equity Ratio
Hasil Uji Signifikansi Parsial
CoefficientsaModel Unstandardized
Coefficients
Standardized
Coefficients
t Sig. B Std. Error Beta
1 (Constant) 2,645 ,719 3,676 ,001
Ukuran Perusahaan ,073 ,028 -,480 2,602 ,015
Winner/Losser Stock -,025 ,065 -,060 -,384 ,704
Nilai Perusahaan -,023 ,056 -,070 -,404 ,689
Debt to Equity Ratio -,053 ,029 -,656 -1,807 ,082
Leverage Finansial ,354 ,353 ,379 1,002 ,325
