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Alfin Siddiq
Program Studi Agribisnis, Jurusan Sosial Ekonomi Pertanian, Fakultas Pertanian, Universitas Syiah Kuala

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Pengaruh Variabel Rasio Keuangan dan Makro Ekonomi Terhadap Harga Saham Pada Emiten Subsektor Perkebunan di Bursa Efek Indonesia Mustafa Mustafa; Fajri Fajri; Alfin Siddiq
Jurnal Agrisep Vol 21, No 2 (2020): Volume 21 Nomor 2 Desember 2020
Publisher : Program Studi Agribisnis, Fakultas Pertanian, Universitas Syiah Kuala

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17969/agrisep.v21i2.17216

Abstract

Abstrak Tujuan penelitian ini adalah untuk mengetahui pengaruh variabel rasio keuangan (Current Ratio, Debt to Equity Ratio, Earning Per Share, Return on Equity dan Total Asset Turnover) dan makro ekonomi (BI Rate, Inflasi, Kurs, Produk Domestik Bruto) terhadap harga saham pada perusahaan subsektor perkebunan. Metode yang digunakan adalah analisis regresi linear berganda menggunakan model double logarithm. Data dari setiap variabel terlebih dahulu dilakukan pengujian asumsi klasik agar setiap data layak menjadi sampel penelitian. Hasil penelitian yang diperoleh adalah secara serempak atau bersama-sama variabel independen yang terdiri dari Current Ratio, Debt to Equity Ratio, Earning Per Share, Return on Equity, Total Asset Turnover, BI Rate, Inflasi, Kurs dan Produk Domestik Bruto berpengaruh nyata secara signifikan terhadap harga saham subsektor perkebunan. Hal ini ditunjukkan melalui nilai F hitung F tabel dengan nilai 28,711 1,85 dan nilai signifikansi 0,000 0,1. Nilai R2 = 0,896, berarti bahwa 89,6% dari harga saham subsektor perkebunan dipengaruhi oleh faktor Current Ratio, Debt to Equity Ratio, Earning Per Share, Return on Equity, Total Asset Turnover, BI Rate, Inflasi, Kurs dan Produk Domestik Bruto, sedangkan 10,4% dipengaruhi oleh faktor lain diluar model penelitian ini. Sedangkan secara parsial variabel Current Ratio, Debt to Equity Ratio, Earning Per Share, Kurs dan Produk Domestik Bruto berpengaruh nyata secara signifikan terhadap harga saham subsektor perkebunan. Hal ini ditunjukkan oleh nilai signifikansi lebih kecil dari tingkat signifikansi penelitian sebesar 0,1 dan t hitung lebih besar dari t tabel. Sedangkan variabel Return on Equity, Total Asset Turnover, BI Rate, Inflasi tidak berpengaruh nyata secara signifikan terhadap harga saham subsektor perkebunan yang ditunjukkan oleh nilai signifikansi lebih besar dari tingkat signifikansi penelitian sebesar 0,1 dan t hitung lebih kecil dari t tabel.The purpose of this study was to determine the effect of variable financial ratios (Current Ratio, Debt to Equity Ratio, Earning Per Share, Return on Equity and Total Asset Turnover) and macroeconomic (BI Rate, Inflation, Exchange Rate, Gross Domestic Product) to the stock price at plantation subsector company. The method used is multiple linear regression analysis using a double logarithm model. Data from each variable is first tested by classical assumptions so that each data is feasible to be a sample of research. The results obtained are simultaneously or together the independent variables which consist of Current Ratio, Debt to Equity Ratio, Earning Per Share, Return on Equity, Total Asset Turnover, BI Rate, Inflation, Exchange Rate and Gross Domestic Product have a significant effect to the share price of the plantation subsector. This is indicated by the value of F count F table with a value of 28.711 1.85 and a significance value of 0.000 0.1. The value of R2 = 0.896, means that 89.6% of the share price of the plantation subsector is influenced by the factors of Current Ratio, Debt to Equity Ratio, Earning Per Share, Return on Equity, Total Asset Turnover, BI Rate, Inflation, Exchange Rate and Gross Domestic Product, while 10.4% is influenced by other factors outside the research model. While partially the Current Ratio variable, Debt to Equity Ratio, Earning Per Share, Exchange Rate and Gross Domestic Product significantly influence the stock price of the plantation subsector. This is indicated by the significance value smaller than the research significance level of 0.1 and t count is greater than t table. While the variable Return on Equity, Total Asset Turnover, BI Rate, Inflation did not significantly influence the share price of the plantation subsector as indicated by the significance value greater than the research significance level of 0.1 and t count smaller than t table.