PENGARUH DER, ROE, NPM TERHADAP RETURN SAHAM PERUSAHAAN MANUFAKTUR DI BEI PERIODE 2011-2015
Abstract
Penelitian ini tergolong penelitian kausal yang terdiri atas tiga variabel bebas dan satu variabel terikat, yaitu Debt to Equity Rasio (DER), Return on Equity (ROE), Net Profit Margin (NPM) terhadap Return Saham. Variabel independen (X) dalam penelitian ini adalah Debt to Equity Rasio (DER) (X1), Return on Equity (ROE) (X2), Net Profit Margin (NPM) (X3), sedangkan variable dependen (Y) adalah Return Saham. Penelitian ini dilaksanakan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode tahun 2011-2015 dengan jumlah 32 perusahaan, kemudian diambil sampel penelitian ditetapkan sebanyak 15 perusahaan dengan pertimbangan memiliki pola data yang linear dan tidak terjadi gejolak yang berlebihan atau data yang ekstrem pada perusahaan yang diambil secara purposive sampling yang mempublikasikan laporan keuangan secara lengkap dengan tahun buku per 31 Desember. Dengan metode yang digunakan analisis regresi berganda dengan alat uji e-views. Pengujian hipotesis dilakukan pada taraf α = 0.05. Hasil penelitian ini menghasilkan 4 kesimpulan, yaitu: (1) Debt to Equity Ratio (DER) terdapat pengaruh negatif signifikan terhadap return saham, (2) Return on Equity (ROE) terdapat pengaruh positif signifikan terhadap return saham, (3) Net Profit Margin (NPM) terdapat pengaruh positif signifikan terhadap return saham, (4) Debt to Equity Ratio (DER), Return on Equity (ROE) dan Net Profit Margin (NPM) secara bersama-sama berpengaruh terhadap return saham.
Kata Kunci: Debt to Equity Ratio (DER), Return on Equity (ROE), dan Net Profit Margin (NPM) terhadap Return saham.
ABSTRACT
This research is including as a causal research, and consisted of three independent variables and one dependent variable, I, e. debt to equity rasio (DER), return on equity (ROE), net profit margin (NPM) on stock return. Variable independent (X) in research is debt to equity ratio (DER (X1), return on equity (ROE) (X2), net profit margin (NPM) (X3), and variable dependent (Y) is stock return. The research was conducted on companies listed in Indonesia Stock Exchange year period 2011-2015 the number of 32 companies, and then taken the study sample was set at 15 companies with consideration have a linear pattern data and there is no excessive volatility or extreme data on companies taken by purposive sampling publish its full financial statements as of December 31 fiscal year. With the method used multiple regression analysis to test equipment e-views. Hypothesis testing is done at the level of α = 0:05. 1 The results of this study resulted in four conclusions, namely: (1) Debt to equity ratio
(DER) there are negative significance to return stock, (2) Return on Equity (ROE) there are positif significance to return stock, (3) Net Profit Margin (NPM) there are positif significance to return stock, (4) Debt to equity ratio (DER), Return on Equity (ROE), Net Profit Margin (NPM) together on stock return.
Key Word: Debt-to-Equity Ratio (DER), Return on Equity (ROE), and Net Profit Margin (NPM) to stock return.
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