ANALISIS PENGARUH CURRENT RATIO, RETURN ON EQUITY, DEBT TO EQUITY DAN RETURN ON ASSETS TERHADAP DIVIDEND YIELD DAN DAMPAKNYA PADA HARGA SAHAM
Abstract
ABSTRACTThe aim of this study is to assess the extent of the influence of the current ratio, return on equity, debt to equity and sales growth of Dividend Yield and its impact on share price to the companies ware taken from LQ 45 index at Indonesia stock exchange listed on www.idx.co.id from 2011 until 2013.
The data collected then analysed using linier regression model. The findings showed that CR positive significant effect on dividend yield, because t count for 1.999 > t-table at 1.98, with the effect of 0,048 < 0,05. ROE positive significant effect on dividend yield, because t count for 3.144 > t-table at 1.98, with the effect of 0.002<0.005. DER negative no significant effect on dividend yield, because t count for -0.446 > t-table at 1.98, with the effect of 0.657 > 0.05. Return on assets positive no significant effect on dividend yield, because t count for 0.203> t-table at 1.98, with the effect of 0.839>0.005. CR positive significant effect on stock prices, because t count for 2.536 > t-table at 1.98, with the effect of 0.031 < 0.005. Variable ROE positive significant effect on stock prices, because t count for 3.398 > t-table at 1.98, with the effect of 0.001<0.005. DER negative significant effect on stock prices, because the t-count equal to -2.260 <t-table of -1,98 with the effect of 0.010 > 0.005. Return on assets positive no significant effect on stock prices, because t count for 0.436 > t-table at 1.98, with the effect of 0.664 > 0.005. Dividend yield positive significant effect on stock prices, because t count for -1.254> t-table at 1.98, with the effect of 0.265 > 0.005..
It is recommended that the follow up research done related to this research should include more variables and longer observation period.
Keywords: Current Ratio, Return on Equity, Debt to Equity, return on assets , Dividend Yield, Price Shares
ABSTRAK
Tujuan dari penelitian ini adalah untuk menilai sejauh mana pengaruh dari current ratio, return on equity, debt to equity dan pertumbuhan penjualan Dividend Yield dan dampaknya terhadap harga saham terhadap perusahaan barang yang diambil dari indeks LQ 45 di bursa efek Indonesia. tercatat di www.idx.co.id dari tahun 2011 sampai 2013.
Data yang terkumpul kemudian dianalisis dengan menggunakan model regresi linier. Temuan menunjukkan bahwa CR positif berpengaruh signifikan terhadap dividend yield, karena t hitung untuk 1,999> t-table pada 1,98, dengan pengaruh 0,048 <0,05. ROE berpengaruh signifikan secara positif terhadap dividend yield, karena t hitung sebesar 3,144> t-table pada 1,98, dengan pengaruh 0,002 <0,005. DER negatif tidak berpengaruh signifikan terhadap dividend yield, karena t hitung untuk -0,446> t-table pada 1,98, dengan pengaruh 0,657> 0,05. Pengembalian aset positif tidak berpengaruh signifikan terhadap hasil dividen, karena t hitung untuk 0,203> t-tabel pada 1,98, dengan pengaruh 0,839> 0,005. CR positif berpengaruh signifikan terhadap harga saham, karena t hitung sebesar 2,536> t-tabel pada 1,98, dengan pengaruh 0,031 <0,005. Variabel ROE berpengaruh positif terhadap harga saham, karena t hitung sebesar 3,398> t-tabel pada 1,98, dengan pengaruh 0,001 <0,005. DER berpengaruh signifikan terhadap harga saham negatif, karena t-hitung sebesar -2.260 <t-tabel -1,98 dengan pengaruh 0,010> 0,005. Pengembalian aset positif tidak berpengaruh signifikan terhadap harga saham, karena t hitung untuk 0,436> t-tabel pada 1,98, dengan pengaruh 0,664> 0,005. Dividen berpengaruh positif terhadap harga saham, karena t hitung untuk -1.254> t-tabel pada 1,98, dengan pengaruh 0,265> 0,005.
Disarankan agar tindak lanjut penelitian yang dilakukan terkait penelitian ini harus mencakup lebih banyak variabel dan lama periode pengamatan.
Kata kunci: Rasio Lancar, Return on Equity, Utang terhadap Ekuitas, Return on Assets, Dividen Yield, Price Shares
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