Pengaruh Analisis Price Earning Ratio, Price Book Value dan Market Value Added Terhadap Expected Return Saham.
ABSTRAK
PENGARUH ANALISIS PRICE EARNING RATIO, PRICE BOOK VALUE
DAN MARKET VALUE ADDED TERHADAP EXPECTED
RETURN SAHAM
Tujuan penelitian ini adalah untuk mengetahui pengaruh rasio keuangan
perusahaan secara empiris, baik secara parsial maupun secara simultan terhadap
Expected Return Saham. Rasio keuangan yang diuji adalah Price earning Ratio
(PER), Price to Book Value (PBV), dan Market Value Added (MVA).
Penelitian ini merupakan jenis penelitian kausal yang bersifat replikasi
terhadap penelitian sebelumnya dengan populasi penelitian adalah perusahaan
manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2009-2011.
Data yang digunakan adalah data sekunder dengan sampel 20 perusahaan. Metode
statistik yang digunakan adalah regresi linier berganda dan dilakukan uji asumsi
klasik terlebih dahulu.
Hasil penelitian ini menunjukkan bahwa varibel PER, PBV, dan MVA
secara simultan tidak berpengaruh secara signifikan terhadap expected return
saham. Secara parsial variabel PER berpengaruh secara signifikan terhadap
expected return saham sedangkan variabel PBV dan MVA tidak berpengaruh
secara signifikan terhadap expected return saham.
Kata kunci : PER, PBV, MVA dan Expected Return Saham
Universitas Sumatera Utara
ABSTRACT
THE INFLUENCE ANALYSIS OF PRICE EARNING RATIO, PRICE
BOOK VALUE AND MARKET VALUE ADDED TO
EXPECTED STOCK RETURN
The purpose of this reseacrh is to empirically study of the effect of
financial ratio either partially or simultaneously to expected stock return. There
are three financial research, they are Price Earning Ratio (PER), Price Book
Value (PBV), and Market Value added (MVA).
This research in classified as causal research and replication to former
research. Population of this research are manufaktur firms listed in Indonesia
Stock exchange (IDX) during 2009-2011. The data using in this sampled is data
secunder and 20 used as sampled of this research. Statistic method using multiple
regresion analysis and the method has bbeen tested in classic assumption.
The result indicates that PER, PBV, and MVA variables have not
significantly influence to expected stock return simultaneously. Partially indicate
only PER variable have significantly influence to expected stock return, PBV and
MVA variables have not significantly influence to expected stock return.
Key Word: PER, PBV, MVA and Expected Stock Return
Universitas Sumatera Utara
PENGARUH ANALISIS PRICE EARNING RATIO, PRICE BOOK VALUE
DAN MARKET VALUE ADDED TERHADAP EXPECTED
RETURN SAHAM
Tujuan penelitian ini adalah untuk mengetahui pengaruh rasio keuangan
perusahaan secara empiris, baik secara parsial maupun secara simultan terhadap
Expected Return Saham. Rasio keuangan yang diuji adalah Price earning Ratio
(PER), Price to Book Value (PBV), dan Market Value Added (MVA).
Penelitian ini merupakan jenis penelitian kausal yang bersifat replikasi
terhadap penelitian sebelumnya dengan populasi penelitian adalah perusahaan
manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2009-2011.
Data yang digunakan adalah data sekunder dengan sampel 20 perusahaan. Metode
statistik yang digunakan adalah regresi linier berganda dan dilakukan uji asumsi
klasik terlebih dahulu.
Hasil penelitian ini menunjukkan bahwa varibel PER, PBV, dan MVA
secara simultan tidak berpengaruh secara signifikan terhadap expected return
saham. Secara parsial variabel PER berpengaruh secara signifikan terhadap
expected return saham sedangkan variabel PBV dan MVA tidak berpengaruh
secara signifikan terhadap expected return saham.
Kata kunci : PER, PBV, MVA dan Expected Return Saham
Universitas Sumatera Utara
ABSTRACT
THE INFLUENCE ANALYSIS OF PRICE EARNING RATIO, PRICE
BOOK VALUE AND MARKET VALUE ADDED TO
EXPECTED STOCK RETURN
The purpose of this reseacrh is to empirically study of the effect of
financial ratio either partially or simultaneously to expected stock return. There
are three financial research, they are Price Earning Ratio (PER), Price Book
Value (PBV), and Market Value added (MVA).
This research in classified as causal research and replication to former
research. Population of this research are manufaktur firms listed in Indonesia
Stock exchange (IDX) during 2009-2011. The data using in this sampled is data
secunder and 20 used as sampled of this research. Statistic method using multiple
regresion analysis and the method has bbeen tested in classic assumption.
The result indicates that PER, PBV, and MVA variables have not
significantly influence to expected stock return simultaneously. Partially indicate
only PER variable have significantly influence to expected stock return, PBV and
MVA variables have not significantly influence to expected stock return.
Key Word: PER, PBV, MVA and Expected Stock Return
Universitas Sumatera Utara