S PEA 1005837 Table of contant
DAFTAR ISI
Abstrak .............................................................................................................ii
Kata Pengantar................................................................................................ iv
Ucapan Terima Kasih ......................................................................................v
Daftar Isi .........................................................................................................viii
Daftar Tabel...................................................................................................... xi
Daftar Gambar............................................................................................... xii
BAB I ................................................................................................................1
PENDAHULIAN .............................................................................................1
A. Latar Belakang Penelitian
...................................................................1
B. Rumusan Masalah Penelitian
.............................................................9
C. Maksud dan Tujuan Penelitian
..........................................................9
D. Kegunaan Penelitian ............................................................................10
1. Kegunaan Teoritis .........................................................................10
2. Kegunaan Praktis
........................................................................10
BAB II ..............................................................................................................11
KAJIAN TEORI .............................................................................................11
A. Kajian Teori .........................................................................................11
1. Investasi ........................................................................................11
a.
Pengertian Investasi
...................................................................11
b.
Tujuan Investasi
c.
Dasar Keputusan Investasi
d.
Proses Investasi ...........................................................................14
e.
Risiko Investasi ............................................................................15
.........................................................................11
.......................................................12
1) Pengertian Risiko Investasi
.........................................................15
2) Jenis-Jenis Risiko Investasi
........................................................17
3) Sumber Risiko Investasi
..............................................................19
2. Teori Portofolio ............................................................................19
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
3. Saham ...........................................................................................21
a. Pengertian Saham
......................................................................21
b. Jenis-Jenis Saham
.......................................................................22
1) Saham Biasa ..................................................................................22
2) Saham Preferen
............................................................................22
c. Indeks Harga Saham
..................................................................23
1) Indeks Harga Saham Individu
2) Indeks Harga Saham Parsial
...................................................23
.......................................................24
3) Indeks Harga Saham Gabungan
.................................................24
d. Analisis Saham ..............................................................................25
1) Analisis Teknikal ..........................................................................25
2) Analisis Fundamental
..................................................................27
a) Tingkat Suku Bunga
....................................................................29
b) Inflasi ............................................................................................30
c) Nilai Tukar Rupiah Terhadap US$
...........................................31
B. Penelitian Terdahulu
..........................................................................33
C. Kerangka Pemikiran
........................................................................34
D. Hipotesis
............................................................................................37
BAB III ...........................................................................................................38
METODOLOGI PENELITIAN ..................................................................38
A. Desain Penelitian .................................................................................38
B. Operasionalisasi Variabel
.................................................................38
1. Variabel Bebas
.............................................................................39
2. Variabel Terikat
...........................................................................39
C. Jenis Dan Sumber Data
......................................................................40
D. Teknik Pengumpulan Data .................................................................41
E. Teknik Analisis Data Penelitian
1. Analisis Data Penelitian
.......................................................41
..............................................................41
2. Prosedur Pengujian Hipotesis
....................................................42
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
a. Uji Aumsi Klassik
........................................................................42
1) Uji Normalitas ..............................................................................43
2) Uji Linieritas .................................................................................44
3) Uji Multikolinieritas .....................................................................45
4) Uji Heteroskedastisitas .................................................................46
5) Uji Autokorelasi ............................................................................47
b. Pengujian Hipotesis ......................................................................48
1) Analisis Regresi Multiple .............................................................48
2) Uji F ................................................................................................49
3) Uji t ................................................................................................50
BAB IV ............................................................................................................52
HASIL PENELITIAN DAN PEMBAHASAN .............................................52
A. Hasil Penelitian ...................................................................................52
1. Tinjauan Umum Subyek Peneltian
2. Deskripsi Hasil Penelitian
...................................................52
.................................................................53
a. Deskripsi Tingkat Suku Bunga
.........................................................53
b. Deskripsi Inflasi ..................................................................................57
c. Deskripsi Nilai Tukar Rupiah Terhadap US$
.................................61
d. Deskripsi Indeks Harga Saham Perusahaan Bakrieland
Development Tbk ...............................................................................64
3. Pengujian Hipotesis Penelitian
..........................................................66
a. Uji Aumsi Klassik ...............................................................................67
1) Uji Normalitas ....................................................................................67
2) Uji Linieritas .......................................................................................68
3) Uji Heteroskedastisitas .......................................................................69
4) Uji Autokorelasi ..................................................................................70
5) Uji Multikolinieritas ...........................................................................71
b. Pengujian Hipotesis Penelitian
.........................................................72
1) Analisis Regresi Multiple ...................................................................72
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
2) Uji F ......................................................................................................74
3) Uji t ......................................................................................................75
B. Pembahasan ........................................................................................78
1. Pengaruh Suku Bunga Terhadap Harga Saham
2. Pengaruh Inflasi Terhadap Harga Saham
............................ 78
.......................................80
3. Pengaruh Nilai Tukar Terhadap Harga Saham
.............................80
BAB V ...............................................................................................................82
KESIMPULAN DAN SARAN .......................................................................82
A. Kesimpulan .........................................................................................82
B. Saran ....................................................................................................82
DAFTAR PUSTAKA
RIWAYAT HIDUP
LAMPIRAN
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
DAFTAR TABEL
Tabel 1.1 Perkembangan Perusahaan Bakrieland Development Tbk Periode
tahun 2009-2013 .............................................................................................. 3
Tabel 3.1 Operasionalisasi Variabel ................................................................ 42
Tabel 4.1Data Perkembangan Suku Bunga yang Tercatat di Bank Indonesia
Periode Tahun 2009-2013 .................................................................................57
Tabel 4.2 Data Perkembangan Inflasi yang Tercatat di Bank Indonesia
Periode Tahun 2009-2013 ..................................................................................61
Tabel 4.3 Data Perkembangan Nilai TuKar Rupiah Terhadap US$ Yang
Tercatat di Bank Indonesia Periode Tahun 2009-2013 ......................................65
Tabel 4.4 Data Perkembangan Harga Saham Perusahaan Bakrieland
Development Tbk Yang Tercatat di Yahoo Finance Periode Tahun
2009-2013 ..........................................................................................................69
Tabel 4.5 Tabel Pengujian Linearitas ........................................................... ....73
Tabel 4.6 Tabel Pengujian Autokolerasi ...........................................................75
Tabel 4.7 Uji Multikolinieritas Data .................................................................76
Tabel 4.8 Hasil Perhitungan Regresi Linier Multipel .......................................77
Tabel 4.9 ANOVAa ...........................................................................................78
Tabel 4.10 Hasil Pengujian Keberartian Koefisien Regresi (Uji t) ...................80
Tabel 4.11 Keputusan Pengujian Uji t ...............................................................81
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
DAFTAR GAMBAR
Gambar 1.1 Perkembangan Perusahaan Bakrieland Development Tbk Periode
tahun 2009-2013 ................................................................................. ................3
Gambar 2.1 Bagan Risiko .................................................................................19
Gambar 2.2 Analisis Fundamental secara top-down ............................ ............29
Gambar 2.3 Model Hubungan Antar Variabel ..................................................38
Gambar 4.1 Perkembangan Suku Bunga Periode tahun 2009-2013.................58
Gambar 4.2 Perkembangan Inflasi Periode tahun 2009-2013 ......... ................62
Gambar 4.3 Perkembangan NilaiTukar Terhadap US$ Periode tahun 20092013 ....................................................................................................... ...........66
Gambar 4.4 Perkembangan Perusahaan Bakrieland Development Tbk
Periode tahun 2009-2013 .................................................................................70
Gambar 4.5 Grafik Normal Probability Plot (Pengujian Normalitas) .......... ...72
Gambar 4.6 Grafik Scatter Plot (Uji Heteroskedastisitas) ...................... .........74
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
Abstrak .............................................................................................................ii
Kata Pengantar................................................................................................ iv
Ucapan Terima Kasih ......................................................................................v
Daftar Isi .........................................................................................................viii
Daftar Tabel...................................................................................................... xi
Daftar Gambar............................................................................................... xii
BAB I ................................................................................................................1
PENDAHULIAN .............................................................................................1
A. Latar Belakang Penelitian
...................................................................1
B. Rumusan Masalah Penelitian
.............................................................9
C. Maksud dan Tujuan Penelitian
..........................................................9
D. Kegunaan Penelitian ............................................................................10
1. Kegunaan Teoritis .........................................................................10
2. Kegunaan Praktis
........................................................................10
BAB II ..............................................................................................................11
KAJIAN TEORI .............................................................................................11
A. Kajian Teori .........................................................................................11
1. Investasi ........................................................................................11
a.
Pengertian Investasi
...................................................................11
b.
Tujuan Investasi
c.
Dasar Keputusan Investasi
d.
Proses Investasi ...........................................................................14
e.
Risiko Investasi ............................................................................15
.........................................................................11
.......................................................12
1) Pengertian Risiko Investasi
.........................................................15
2) Jenis-Jenis Risiko Investasi
........................................................17
3) Sumber Risiko Investasi
..............................................................19
2. Teori Portofolio ............................................................................19
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
3. Saham ...........................................................................................21
a. Pengertian Saham
......................................................................21
b. Jenis-Jenis Saham
.......................................................................22
1) Saham Biasa ..................................................................................22
2) Saham Preferen
............................................................................22
c. Indeks Harga Saham
..................................................................23
1) Indeks Harga Saham Individu
2) Indeks Harga Saham Parsial
...................................................23
.......................................................24
3) Indeks Harga Saham Gabungan
.................................................24
d. Analisis Saham ..............................................................................25
1) Analisis Teknikal ..........................................................................25
2) Analisis Fundamental
..................................................................27
a) Tingkat Suku Bunga
....................................................................29
b) Inflasi ............................................................................................30
c) Nilai Tukar Rupiah Terhadap US$
...........................................31
B. Penelitian Terdahulu
..........................................................................33
C. Kerangka Pemikiran
........................................................................34
D. Hipotesis
............................................................................................37
BAB III ...........................................................................................................38
METODOLOGI PENELITIAN ..................................................................38
A. Desain Penelitian .................................................................................38
B. Operasionalisasi Variabel
.................................................................38
1. Variabel Bebas
.............................................................................39
2. Variabel Terikat
...........................................................................39
C. Jenis Dan Sumber Data
......................................................................40
D. Teknik Pengumpulan Data .................................................................41
E. Teknik Analisis Data Penelitian
1. Analisis Data Penelitian
.......................................................41
..............................................................41
2. Prosedur Pengujian Hipotesis
....................................................42
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
a. Uji Aumsi Klassik
........................................................................42
1) Uji Normalitas ..............................................................................43
2) Uji Linieritas .................................................................................44
3) Uji Multikolinieritas .....................................................................45
4) Uji Heteroskedastisitas .................................................................46
5) Uji Autokorelasi ............................................................................47
b. Pengujian Hipotesis ......................................................................48
1) Analisis Regresi Multiple .............................................................48
2) Uji F ................................................................................................49
3) Uji t ................................................................................................50
BAB IV ............................................................................................................52
HASIL PENELITIAN DAN PEMBAHASAN .............................................52
A. Hasil Penelitian ...................................................................................52
1. Tinjauan Umum Subyek Peneltian
2. Deskripsi Hasil Penelitian
...................................................52
.................................................................53
a. Deskripsi Tingkat Suku Bunga
.........................................................53
b. Deskripsi Inflasi ..................................................................................57
c. Deskripsi Nilai Tukar Rupiah Terhadap US$
.................................61
d. Deskripsi Indeks Harga Saham Perusahaan Bakrieland
Development Tbk ...............................................................................64
3. Pengujian Hipotesis Penelitian
..........................................................66
a. Uji Aumsi Klassik ...............................................................................67
1) Uji Normalitas ....................................................................................67
2) Uji Linieritas .......................................................................................68
3) Uji Heteroskedastisitas .......................................................................69
4) Uji Autokorelasi ..................................................................................70
5) Uji Multikolinieritas ...........................................................................71
b. Pengujian Hipotesis Penelitian
.........................................................72
1) Analisis Regresi Multiple ...................................................................72
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
2) Uji F ......................................................................................................74
3) Uji t ......................................................................................................75
B. Pembahasan ........................................................................................78
1. Pengaruh Suku Bunga Terhadap Harga Saham
2. Pengaruh Inflasi Terhadap Harga Saham
............................ 78
.......................................80
3. Pengaruh Nilai Tukar Terhadap Harga Saham
.............................80
BAB V ...............................................................................................................82
KESIMPULAN DAN SARAN .......................................................................82
A. Kesimpulan .........................................................................................82
B. Saran ....................................................................................................82
DAFTAR PUSTAKA
RIWAYAT HIDUP
LAMPIRAN
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
DAFTAR TABEL
Tabel 1.1 Perkembangan Perusahaan Bakrieland Development Tbk Periode
tahun 2009-2013 .............................................................................................. 3
Tabel 3.1 Operasionalisasi Variabel ................................................................ 42
Tabel 4.1Data Perkembangan Suku Bunga yang Tercatat di Bank Indonesia
Periode Tahun 2009-2013 .................................................................................57
Tabel 4.2 Data Perkembangan Inflasi yang Tercatat di Bank Indonesia
Periode Tahun 2009-2013 ..................................................................................61
Tabel 4.3 Data Perkembangan Nilai TuKar Rupiah Terhadap US$ Yang
Tercatat di Bank Indonesia Periode Tahun 2009-2013 ......................................65
Tabel 4.4 Data Perkembangan Harga Saham Perusahaan Bakrieland
Development Tbk Yang Tercatat di Yahoo Finance Periode Tahun
2009-2013 ..........................................................................................................69
Tabel 4.5 Tabel Pengujian Linearitas ........................................................... ....73
Tabel 4.6 Tabel Pengujian Autokolerasi ...........................................................75
Tabel 4.7 Uji Multikolinieritas Data .................................................................76
Tabel 4.8 Hasil Perhitungan Regresi Linier Multipel .......................................77
Tabel 4.9 ANOVAa ...........................................................................................78
Tabel 4.10 Hasil Pengujian Keberartian Koefisien Regresi (Uji t) ...................80
Tabel 4.11 Keputusan Pengujian Uji t ...............................................................81
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu
DAFTAR GAMBAR
Gambar 1.1 Perkembangan Perusahaan Bakrieland Development Tbk Periode
tahun 2009-2013 ................................................................................. ................3
Gambar 2.1 Bagan Risiko .................................................................................19
Gambar 2.2 Analisis Fundamental secara top-down ............................ ............29
Gambar 2.3 Model Hubungan Antar Variabel ..................................................38
Gambar 4.1 Perkembangan Suku Bunga Periode tahun 2009-2013.................58
Gambar 4.2 Perkembangan Inflasi Periode tahun 2009-2013 ......... ................62
Gambar 4.3 Perkembangan NilaiTukar Terhadap US$ Periode tahun 20092013 ....................................................................................................... ...........66
Gambar 4.4 Perkembangan Perusahaan Bakrieland Development Tbk
Periode tahun 2009-2013 .................................................................................70
Gambar 4.5 Grafik Normal Probability Plot (Pengujian Normalitas) .......... ...72
Gambar 4.6 Grafik Scatter Plot (Uji Heteroskedastisitas) ...................... .........74
[Type text]
LILIS SURYANI, 2014
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA S AHAM S EKTOR PROPERTI
: Studi Empiris Pada Saham Perusahaan Bakrieland Development Tbk Periode Tahun 2009-2013)
Universitas Pendidikan Indonesia | repository.upi.edu |persustakaan.upi.edu