Pengaruh Faktor – Faktor Fundamental Perusahaan pada Perusahaan Property dan Real Estate yang Terdaftar di Bursa Efek Indonesia (BEI)

ABSTRAK
PENGARUH FAKTOR – FAKTOR FUNDAMENTAL PERUSAHAAN
TERHADAP HARGA SAHAM PADA PERUSAHAAN PROPERTY DAN
REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA
Rumusan masalah dalam penelitian ini adalah sejauh mana pengaruh
faktor – faktor fundamental perusahaan yang diukur denganEarning Per Share
(EPS), Price Earnings Ratio (PER), Debt to Equity Ratio (DER), dan Net Profit
Margin (NPM) secara empiris terhadap Harga saham. Tujuan penelitian ini adalah
untuk mengetahui dan menganalisis pengaruh faktor – faktor fundamental
perusahaan yang diukur denganEarning Per Share (EPS), Price Earnings Ratio
(PER), Debt to Equity Ratio (DER), dan Net Profit Margin (NPM) secara empiris
terhadap Harga saham.
Hipotesis dalam penelitian ini adalah Earning Per Share (EPS), Price
Earnings Ratio (PER), Debt to Equity Ratio (DER), dan Net Profit Margin (NPM)
berpengaruh secara parsial dan simultan terhadap Harga saham.
Penelitian ini menggunakan desain kausal dan bersifat replikasi terhadap
penelitian sebelumnya dengan populasi penelitian adalah perusahaan-perusahaan
Property dan Real Estate yang terdapatdi BEI selama periode 2009-2011.
Pemilihan sampel dilakukan dengan metode purposive sampling dan dari 43
perusahaan Property dan Real Estate diperoleh 20 perusahaan sampel. Data yang
digunakan adalah data sekunder. Metode analisis data yang digunakan pada

penelitian ini adalah metode analisis statistik menggunakan SPSS 17.0 dengan
melakukan uji asumsi klasik terlebih dahulu.
Hasil penelitian ini menunjukkan bahwa secara simultan faktor – faktor
fundamental perusahaan yang diukur denganEarning Per Share (EPS), Price
Earnings Ratio (PER), Debt to Equity Ratio (DER), dan Net Profit Margin (NPM)
berpengaruh terhadap Harga saham. Uji parsial menunjukkan bahwa variabel
Earning Per Share (EPS) dan Price Earnings Ratio (PER) berpengaruh signifikan
terhadap harga saham. Dan variabel Debt to Equity Ratio (DER) dan Net Profit
Margin (NPM) secara parsial tidak berpengaruh terhadap harga saham.
Kata Kunci : Harga saham, Faktor Fundamental Perusahaan, Earning Per
Share, Price Earnings Ratio, Debt Equity to Ratio, Net Profit
Margin.

3
Universitas Sumatera Utara

ABSTRACT
EFFECT OF COMPANY FUNDAMENTAL FACTORS TO THE STOCK
PRICE LISTED PROPERTY AND REAL ESTATE IN INDONESIA STOCK
EXCHANGE (IDX)

Formulation of the problem in this research is the extent to which the
influence of company fundamental factors as measured by Earning Per Share
(EPS), Price Earnings Ratio (PER), Debt to Equity Ratio (DER), and Net Profit
Margin (NPM) empirically to the stock price. The purpose of this study is to
investigate and analyze the effect of company fundamental factors as measured by
Earning Per Share (EPS), Price Earnings Ratio (PER), Debt to Equity Ratio
(DER), and Net Profit Margin (NPM) empirically to the stock price.
The hypothesis of this research is Earning Per Share (EPS), Price Earnings
Ratio (PER), Debt to Equity Ratio (DER), and Net Profit Margin (NPM) effect on
stock price by partial and simultaneous.
This research using causal design and replicating the previous study with
the study population are Property and Real Estate companies listed on the
Indonesia Stock Exchange (IDX) during the period 2009-2011. Sample selection
is done by purposive sampling method and from 43 Property and Real Estate
companies acquired 20 companies sampled. The data used are secondary data.
The data analysis method used in this research is a method of statistical analysis
using SPSS 17.0 with the classic assumption test first.
The results of this study indicate that simultaneous company fundamental
factors as measured by Earning Per Share (EPS), Price Earnings Ratio (PER),
Debt to Equity Ratio (DER), and Net Profit Margin (NPM) effect on stock price.

Results of examination obtained that there is significant influence among Earning
Per Share (EPS) and Price Earnings Ratio (PER) to stock price by partial. Debt to
Equity Ratio (DER) and Net Profit Margin (NPM) have not influenced to stock
price by partial.
Keywords : Stock Price, Company Fundamental Factors, Earning Per Share,
Price Earnings Ratio, Debt Equity to Ratio, Net Profit Margin.

4
Universitas Sumatera Utara