ANALISIS PENGARUH DEBT TO EQUITY RATIO, RETURN ON EQUITY, DAN EARNING PER SHARE TERHADAP HARGA SAHAM PERUSAHAAN FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2012-2017 - Devi, Dias Shinta; Seno, Petrus Hari Kuncoro; Muchtar, Ali Masjono (Politeknik Negeri Jakarta, 2018)
ABSTRACT This research aims to: (i) test the hypothesis of whether there is the effect of Debt to Equity Ratio,Return on Equity, and Earning Per Share on the stock price of pharmaceutical companies listed inIndonesia Stock Exchange for the period 2012-2017, both partially and simultaneously, and (ii)analyze the implications of the research results about Debt to Equity Ratio, Return on Equity, andEarning Per Share on pharmaceutical companies stock price for companies and investors. Theresearch sample consisted of 6 pharmaceutical companies which were determined based onpurposive sampling technique. Multiple Linear Regression Analysis with SPSS 23 for windows wasused to analyze data and test the hypotheses. The results of this research show that the variable ofDebt to Equity Ratio and Earning Per Share partially have a significant effect on the stock price,while the Return on Equity variable has no significant effect on the stock price. Simultaneously, thevariable of Debt to Equity Ratio, Return on Equity, and Earning Per Share have a significant effecton the stock price. Debt to Equity Ratio, Return on Equity, and Earning Per Share variables couldexplain the stock price of pharmaceutical companies listed in Indonesia Stock Exchange for theperiod 2012-2017 by 67.3%, while the rest of 32.7% could be explained by other variables outsidethe model of this research. Keywords: Debt to Equity Ratio, Return on Equity, Earning Per Share, Stock Price ABSTRAK Penelitian ini bertujuan untuk: (i) menguji hipotesis apakah terdapat pengaruh Debt to Equity Ratio,Return on Equity, dan Earning Per Share terhadap harga saham perusahaan farmasi yang terdaftardi Bursa Efek Indonesia periode 2012-2017 baik secara parsial maupun simultan, dan (ii)menganalisis implikasi hasil penelitian mengenai Debt to Equity Ratio, Return on Equity, danEarning Per Share terhadap harga saham perusahaan farmasi bagi perusahaan dan investor.Sampel penelitian terdiri dari 6 perusahaan farmasi yang ditentukan berdasarkan teknik purposivesampling. Analisis Regresi Linier Berganda dengan SPSS 23 for windows digunakan untukmenganalisis data dan menguji hipotesis. Hasil penelitian menunjukkan bahwa variabel Debt toEquity Ratio dan Earning Per Share secara parsial berpengaruh signifikan terhadap harga saham,sementara variabel Return on Equity tidak berpengaruh signifikan terhadap harga saham. Secarasimultan variabel Debt to Equity Ratio, Return on Equity, dan Earning Per Share berpengaruhsignifikan terhadap harga saham. Variabel Debt to Equity Ratio, Return on Equity, dan Earning PerShare mampu menjelaskan harga saham perusahaan farmasi yang terdaftar di Bursa Efek Indonesiaperiode 2012-2017 sebesar 67,3%, sementara sisanya sebesar 32,7% dijelaskan oleh variabel laindi luar penelitian. Kata kunci: Debt to Equity Ratio, Return on Equity, Earning Per Share, Harga Saham