Pengaruh Kebijakan Dividen, Leverage, dan Likuiditas terhadap Harga Saham dengan Beta Saham sebagai Variabel Moderating pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia
L
A
M
P
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A
N
81
Universitas Sumatera Utara
Lampiran i
kriteria
No
Kode
Perusahaan
1
1
2
3
4
5
INTP
SMCB
SMGR
AMFG
ARNA
6
IKAI
7
8
9
10
KIAS
MLIA
TOTO
ALKA
11
ALMI
12
13
BTON
CTBN
14
GDST
15
16
INAI
ITMA
17
18
19
20
21
22
JKSW
JPRS
KRAS
LION
LMSH
MYRX
23
NIKL
24
PICO
25
26
TBMS
BRPT
Indocement Tunggal
Prakasa Tbk
Holcim Indonesia Tbk
Semen Gresik Tbk
Asahimas Flat Glass Tbk
Arwana Citra Mulia Tbk
Inti Keramik Alam Asri
Industri Tbk
Keramika Indonesia
Assosiasi Tbk
Mulia Industrindo Tbk
Surya Toto Indonesia Tbk
Alaska Industrindo Tbk
Alumindo Light Metal
Industry Tbk
Beton Jaya Manunggal
Tbk
Citra Turbindo Tbk
Gunawan Dianjaya Steel
Tbk
Indal Aluminium Industry
Tbk
Itamaraya Tbk
Jakarta Kyoei Steel Work
LTD Tbk
Jaya Pari Steel Tbk
Krakatau Steel Tbk
Lion Metal Works Tbk
Lionmesh Prima Tbk
Hanson International Tbk
Pelat Timah Nusantara
Tbk
Pelangi Indah Canindo
Tbk
Tembaga Mulia Semanan
Tbk
Barito Pasific Tbk
2
3
4
Sampel
1
-
2
3
-
-
-
-
4
-
-
-
-
-
-
-
82
Universitas Sumatera Utara
27
28
BUDI
DPNS
29
EKAD
30
ETWA
31
INCI
32
33
SOBI
SRSN
34
TPIA
35
36
UNIC
AKKU
37
38
39
AKPI
APLI
BRNA
40
FPNI
41
IGAR
42
43
44
45
IPOL
SIAP
SIMA
TRST
46
YPAS
47
CPIN
48
49
JPFA
MAIN
50
51
MBAI
SIPD
52
SULI
53
TIRT
Budi Acid Jaya Tbk
Duta Pertiwi Nusantara
Ekadharma International
Tbk
Eterindo Wahanatama
Tbk
Intan Wijaya
International Tbk
Sorini Agro Asia
Corporindo
Indo Acitama Tbk
Chandra Asri
Petrochemical Tbk
Unggul Indah Cahaya
Tbk
Alam Karya Unggul Tbk
Argha Karya Prima
Industry Tbk
Asiaplast Industries Tbk
Berlina Tbk
Titan Kimia Nusantara
Tbk
Champion Pasific
Indonesi Tbk
Indopoly Swakarsa
Industry Tbk
Sekawan Intipratama Tbk
Siwani Makmur Tbk
Trias Sentosa Tbk
Yana Prima Hasta
Persada Tbk
Charoen Pokphand
Indonesia Tbk
Japfa Comfeed Indonesia
Tbk
Malindo Feedmill Tbk
Multibreeder Adirama
Indonesia Tbk
Sierad Produce Tbk
Sumalindo Lestari Jaya
Tbk
Tirta Mahakam
Resources Tbk
-
-
-
-
-
-
-
-
-
-
-
5
-
6
-
-
-
83
Universitas Sumatera Utara
54
55
ALDO
FASW
56
57
INKP
INRU
58
KBRI
59
60
SAIP
SPMA
61
62
63
64
65
66
TKIM
ASII
AUTO
BRAM
GDYR
GJTL
67
68
IMAS
INDS
69
LPIN
70
71
MASA
NIPS
72
73
74
75
76
77
PRAS
SMSM
ADMG
ARGO
CNTX
ERTX
78
79
80
81
82
ESTI
HDTX
INDR
KARW
MYTX
83
84
PAFI
PBRX
Alkindo Naratama Tbk
Fajar Surya Wisesa Tbk
Indah Kiat Pulp&paper
Tbk
Toba Pulp Lestari Tbk
Kertas Basuki Rachmat
Indonesia Tbk
Surabaya Agung Industri
Pulp&Kertas Tbk
Suparma Tbk
Pabrik Kertas Tjiwi
Kimia Tbk
Astra International Tbk
Astra Auto Part Tbk
Indo Kordsa Tbk
Goodyear Indonesia Tbk
Gajah Tunggal Tbk
Indomobil Sukses
International Tbk
Indospring Tbk
Multi Prima Sejahtera
Tbk
Multistrada Arah Sarana
Tbk
Nippres Tbk
Prima alloy steel
Universal Tbk
Selamat Sempurna Tbk
Polychem Indonesia Tbk
Argo Pantes Tbk
Centex Tbk
Eratex Djaya Tbk
Ever Shine Textile
Industry Tbk
Pan Asia Indosyntec Tbk
Indo Rama Synthetic Tbk
Karwell Indonesia Tbk
Apac Citra Centertex Tbk
Pan Asia Filament Inti
Tbk
Pan Brothers Tbk
-
-
-
-
-
7
-
8
-
-
9
-
10
-
-
-
-
-
-
84
Universitas Sumatera Utara
85
POLY
86
RICY
87
SSTM
88
89
TFCO
TRIS
90
91
92
UNIT
UNTX
BATA
93
BIMA
94
95
SIMM
IKBI
96
97
98
99
100
JECC
KBLI
KBLM
VOKS
PTSN
101 ADES
102
103
104
105
106
AISA
ALTO
CEKA
DAVO
DLTA
107 ICBP
108 INDF
109 MLBI
110 MYOR
111 PSDN
112 ROTI
113 SKBM
Asia Pasific Fibers Tbk
Ricky Putra Globalindo
Tbk
Sunson Textile
Manufacturer Tbk
Tifico Fiber Indonesia
Tbk
Trisula International Tbk
Nusantara Inti Corpora
Tbk
Unitex Tbk
Sepatu Bata Tbk
Primarindo Asia
Infrastructure
Surya Intrindo Makmur
Tbk
Sumi Indo Kabel Tbk
Jembo Cable Company
Tbk
KMI Wire and Cable Tbk
Kabelindo Murni Tbk
Voksel Electric Tbk
Sat Nusa Persada Tbk
Akasha Wira
International Tbk
Tiga Pilar Sejahtera Food
Tbk
Tri Banyan Tirta Tbk
Cahaya Kalbar Tbk
Davomas Abadi Tbk
Delta Jakarta Tbk
Indofood CBP Sukses
Makmur Tbk
Indofood Sukses Makmur
Tbk
Multi Bintang Indonesia
Tbk
Mayora Indah Tbk
Prashida Aneka Niaga
Nippon Indosari
Corporindo Tbk
Sekar Bumi Tbk
-
-
-
-
-
11
-
-
-
-
-
-
-
-
12
-
13
-
-
-
85
Universitas Sumatera Utara
114 SKLT
115 STTP
116 GGRM
117 HMSP
118 RMBA
119 WIIM
120
121
122
123
124
125
DVLA
INAF
KAEF
KLBF
MERK
PYFA
126 SCPI
127 SQBB
128
129
130
131
132
TSPC
MBTO
MRAT
TCID
UNVR
133 KDSI
134 KICI
135 LMPI
Sekar Laut Tbk
Siantar Top Tbk
Gudang Garam Tbk
Hanjaya Mandala
Sampoerna Tbk
Bentoel International
Investama Tbk
Wismilak Inti Makmur
Tbk
Darya Varia Laboratoria
Tbk
Indofarma Tbk
Kimia Farma Tbk
Kalbe Farma Tbk
Merck Indonesia Tbk
Pyridam Farma Tbk
Merck Sharp Dohme
Pharma Tbk
Taisho Pharmaceutical
Indonesia Tbk
Tempo Scan Pasific Tbk
Martina Bento Tbk
Mustika Ratu Tbk
Mandom Indoenesia Tbk
Unilever Indonesia Tbk
Kedawung Setia
Industrial Tbk
Kedaung Indag Can Tbk
Langgeng Makmur
Industry Tbk
-
14
-
-
-
-
15
16
17
-
18
19
-
86
Universitas Sumatera Utara
Data Dividen Payout Ratio 2012-2014
dividen payout ratio
NO
KODE
NAMA PERUSAHAAN
2012
2013
2014
0.09005
0.0754
0.0768
11.039
0.2358
63.291
1
AISA
2
ALMI
Tiga Pilar Sejahtera Tbk
Alumindo Light Metal Industry
Tbk
3
AMFG
Asahimas Flat Glass Tbk
0.103
0.1002
0.1026
4
ASII
0.1392
0.1333
0.1333
5
CPIN
Astra International Tbk
Chareon Pokphand Indonesia
Tbk
0.256
0.2987
0.4299
6
GDYR
Goodyear Indonesia Tbk
0.1625
0.2336
0.4285
7
0.4793
0.3022
0.2867
0.4716
0.6491
0.3212
9
GGRM Gudang Garam Tbk
Indofood CBP Sukses Makmur
INDF
Tbk
Indocement Tunggal Prakarsa
INTP
Tbk
0.2266
0.3306
0.6284
10
INDS
Indospring Tbk
0.3782
10.178
0.4145
11
KAEF
Kimia Farma Tbk
16.747
143.414 22.863
12
KLBF
Kalbe Farma Tbk
0.0256
0.0046
0.0038
13
MERK
Merck Indonesia Tbk
0.7418
0.798
0.8023
14
MYOR Mayora Indah Tbk
0.1593
0.2062
0.5099
15
SMGR
Semen Gresik Tbk
0.5
4.5
0.4343
16
SMSM
Selamat Sempurna Tbk
0.1973
0.2803
0.2214
17
TCID
Mandom Indonesia Tbk
0.4946
0.4648
0.4267
18
TRST
Trias Sentosa Tbk
0.909
0.8333
0.4545
19
UNVR
Unilever Indonesia TBK
0.94
0.9472
0.9401
8
Lampiran ii
87
Universitas Sumatera Utara
Data Debt to Equity Ratio 2012-2014
Debt to Equity Ratio
(DER)
NO
KODE
1 AISA
NAMA PERUSAHAAN
2012
2013
2014
0.90
1.13
1.05
2 ALMI
Tiga Pilar Sejahtera Tbk
Alumindo Light Metal Industry
Tbk
2.201
3.187
4.011
3 AMFG
Asahimas Flat Glass Tbk
0.268
0.282
0.23
4 ASII
Astra International Tbk
0.099
0.035
0.028
5 CPIN
Chareon Pokphand Indonesia Tbk
0.51
0.58
0.91
6 GDYR
Goodyear Indonesia Tbk
1.35
0.98
1.17
7 GGRM Gudang Garam Tbk
Indofood CBP Sukses Makmur
8 INDF
Tbk
0.56602 0.7259 0.75217
0.74
1.05
1.08
9 INTP
Indocement Tunggal Prakarsa Tbk
0.008
0.007
0.005
10 INDS
Indospring Tbk
0.465
0.253
0.249
11 KAEF
Kimia Farma Tbk
0.445
0.527
0.6467
12 KLBF
Kalbe Farma Tbk
0.0277
0.0701 0.0316
13 MERK
Merck Indonesia Tbk
0.0037
0.0036 0.0029
14 MYOR Mayora Indah Tbk
1.71
1.49
1.51
15 SMGR
Semen Gresik Tbk
0.222
0.196
0.163
16 SMSM
Selamat Sempurna Tbk
0.3
0.36
0.39
17 TCID
Mandom Indonesia Tbk
0.15
0.239
0.444
18 TRST
Trias Sentosa Tbk
0.617
0.907
0.857
19 UNVR
Unilever Indonesia TBK
1.858
1.986
2.105
Lampiran iii
88
Universitas Sumatera Utara
Data Current Ratio 2012-2014
Current Ratio
NO
KODE
NAMA PERUSAHAAN
2012
2013
2014
1 AISA
Tiga Pilar Sejahtera Tbk
1.27
1.75
2.66
2 ALMI
Alumindo Light Metal Industry Tbk
1.292
1.059
1.025
3 AMFG
Asahimas Flat Glass Tbk
3.887
4.178
5.684
4 ASII
Astra International Tbk
1.4
1.2
1.3
5 CPIN
Chareon Pokphand Indonesia Tbk
3.31
3.79
2.24
6 GDYR
Goodyear Indonesia Tbk
0.89
0.94
0.94
7 GGRM Gudang Garam Tbk
21.702 17.221 16.202
8 INDF
Indofood CBP Sukses Makmur Tbk
2.05
1.68
1.81
9 INTP
Indocement Tunggal Prakarsa Tbk
6.03
6.15
4.93
10 INDS
Indospring Tbk
2.361
3.856
2.912
11 KAEF
Kimia Farma Tbk
0.028
0.0243 0.0293
12 KLBF
Kalbe Farma Tbk
34.036 28.393 34.036
13 MERK
Merck Indonesia Tbk
3.87
3.98
4.59
14 MYOR Mayora Indah Tbk
2.76
2.4
2.09
15 SMGR
Semen Gresik Tbk
1.706
1.882
2.209
16 SMSM
Selamat Sempurna Tbk
2.05
2.11
2.11
17 TCID
Mandom Indonesia Tbk
7.727
3.573
1.798
18 TRST
Trias Sentosa Tbk
1.303
1.143
1.238
19 UNVR
Unilever Indonesia TBK
0.637
0.671
0.715
Lampiran iv
89
Universitas Sumatera Utara
Data Harga Saham 2012-2014
Harga Saham
NO
KODE
NAMA PERUSAHAAN
2012
2013
2014
Tiga Pilar Sejahtera Tbk
Alumindo Light Metal Industry
Tbk
Asahimas Flat Glass Tbk
1080
1430
2095
630
600
268
8300
7000
8050
7550
6800
7425
5 CPIN
Astra International Tbk
Chareon Pokphand Indonesia
Tbk
3500
3375
3780
6 GDYR
Goodyear Indonesia Tbk
12300
19000
16000
56000
42000
60700
5850
6600
6750
22650
20000
25000
3091.20
2675
1600
1 AISA
2 ALMI
3 AMFG
4 ASII
7 GGRM Gudang Garam Tbk
Indofood CBP Sukses Makmur
Tbk
8 INDF
Indocement Tunggal Prakarsa
Tbk
9 INTP
10 INDS
Indospring Tbk
11 KAEF
Kimia Farma Tbk
720
590
1465
12 KLBF
Kalbe Farma Tbk
1030
1250
1830
13 MERK
Merck Indonesia Tbk
152000
189000
160000
19600.06
26000
20900
14 MYOR Mayora Indah Tbk
15 SMGR
Semen Gresik Tbk
15700
14150
16200
16 SMSM
Selamat Sempurna Tbk
2425
3450
4750
17 TCID
Mandom Indonesia Tbk
11000
11900
17525
18 TRST
Trias Sentosa Tbk
325
250
380
19 UNVR
Unilever Indonesia TBK
21200
26000
32300
Lampiran v
90
Universitas Sumatera Utara
Data Beta Saham 2012-2014
Beta Saham
NO
KODE
NAMA PERUSAHAAN
2012
2013
2014
1
AISA
Tiga Pilar Sejahtera Tbk
0.599
0.995 1.106
2
ALMI
Alumindo Light Metal Industry Tbk
1.222
1.022 0.697
3
AMFG Asahimas Flat Glass Tbk
1.161
0.850 0.763
4
ASII
Astra International Tbk
1.181
1.049 1.044
5
CPIN
Chareon Pokphand Indonesia Tbk
1.678
1.475 1.390
6
GDYR Goodyear Indonesia Tbk
0.656
0.783 0.678
7
GGRM Gudang Garam Tbk
0.659
0.724 0.678
8
INDF
Indofood CBP Sukses Makmur Tbk
1.062
1.024 0.9948
9
INTP
Indocement Tunggal Prakarsa Tbk
0.957
1.069 1.043
10
INDS
Indospring Tbk
2.087
1.292 0.911
11
KAEF
Kimia Farma Tbk
1.633
1.762 1.784
12
KLBF
Kalbe Farma Tbk
0.942
0.938 0.966
13
MERK Merck Indonesia Tbk
0.493
0.607 0.758
14
MYOR Mayora Indah Tbk
0.996
1.122 1.095
15
SMGR
0.927
1.193 1.276
16
SMSM Selamat Sempurna Tbk
1.012
0.623 0.558
17
TCID
Mandom Indonesia Tbk
0.454
0.466 0.414
18
TRST
Trias Sentosa Tbk
1.300
1.403 1.004
19
UNVR Unilever Indonesia TBK
0.478
0.715 0.879
Semen Gresik Tbk
Lampiran vi
91
Universitas Sumatera Utara
Hasil Ouput SPSS
Descriptive Statistics
N
Minimum
Maximum
Mean
Std. Deviation
HARGA SAHAM
57
250.00
189000.00
19544.5484
37575.32476
DIVIDEND PAYOUT
57
.00
143.41
5.1020
20.76615
DEBT TO EQUITY RATIO
57
.00
4.01
.7383
.80650
CURRENT RATIO
57
.02
34.04
4.7864
7.65212
BETA SAHAM
57
.41
2.09
.9938
.35970
Valid N (listwise)
57
RATIO
92
Universitas Sumatera Utara
93
Universitas Sumatera Utara
Model Summary
Model
R
R Square
a
1
.443
b
Adjusted R
Std. Error of the
Square
Estimate
.196
.151
1.49839
a. Predictors: (Constant), CR, DER, DPR
b. Dependent Variable: Ln_Harga Saham
b
ANOVA
Model
1
Sum of Squares
Regression
Df
Mean Square
29.031
3
9.677
Residual
118.995
53
2.245
Total
148.026
56
F
4.310
Sig.
a
.009
a. Predictors: (Constant), CR, DER, DPR
b. Dependent Variable: Ln_Harga Saham
94
Universitas Sumatera Utara
Coefficients
a
Standardized
Unstandardized Coefficients
Model
1
B
(Constant)
Std. Error
8.219
.248
DPR
.101
.146
DER
-.278
.324
CR
Coefficients
Beta
t
Sig.
33.095
.000
.116
.693
.491
.118
-.313
-2.363
.022
.202
.282
1.608
.114
a. Dependent Variable: Ln_Harga Saham
95
Universitas Sumatera Utara
Uji Signifikansi Beta Saham dalam Memoderasi Hubungan Antara
Kebijakan Dividen Terhadap Harga Saham
Coefficients
a
Standardized
Unstandardized Coefficients
Model
1
B
Std. Error
(Constant)
9.143
.327
Zscore: DPR
-.081
.198
Zscore: BETA
-.796
-.423
Coefficients
Beta
t
Sig.
27.992
.000
-.050
-.410
.683
.202
-.489
-3.942
.000
.265
-.194
-1.600
.116
SAHAM
Absx1_x2
a. Dependent Variable: Ln_Harga Saham
Uji Signifikansi Beta Saham dalam Memoderasi Hubungan Antara Leverage
Terhadap Harga Saham
Coefficients
a
Standardized
Unstandardized Coefficients
Model
1
B
Std. Error
(Constant)
8.664
.379
Zscore: DER
-.559
.189
Zscore: BETA
-.681
.511
Coefficients
Beta
t
Sig.
22.889
.000
-.344
-2.950
.005
.193
-.419
-3.531
.001
.291
.020
2.167
.048
SAHAM
Absx1_x2
a. Dependent Variable: Ln_Harga Saham
96
Universitas Sumatera Utara
Uji Signifikansi Beta Saham dalam Memoderasi Hubungan Antara
Likuiditas Terhadap Harga Saham
Coefficients
a
Standardized
Unstandardized Coefficients
Model
1
B
(Constant)
Zscore: CR
Zscore: BETA
Std. Error
8.794
.287
.287
.215
-.648
-.064
Coefficients
Beta
T
Sig.
30.590
.000
.176
1.335
.187
.205
-.398
-3.157
.003
.182
-.044
-.350
.728
SAHAM
Absx1_x2
a. Dependent Variable: Ln_Harga Saham
97
Universitas Sumatera Utara
A
M
P
I
R
A
N
81
Universitas Sumatera Utara
Lampiran i
kriteria
No
Kode
Perusahaan
1
1
2
3
4
5
INTP
SMCB
SMGR
AMFG
ARNA
6
IKAI
7
8
9
10
KIAS
MLIA
TOTO
ALKA
11
ALMI
12
13
BTON
CTBN
14
GDST
15
16
INAI
ITMA
17
18
19
20
21
22
JKSW
JPRS
KRAS
LION
LMSH
MYRX
23
NIKL
24
PICO
25
26
TBMS
BRPT
Indocement Tunggal
Prakasa Tbk
Holcim Indonesia Tbk
Semen Gresik Tbk
Asahimas Flat Glass Tbk
Arwana Citra Mulia Tbk
Inti Keramik Alam Asri
Industri Tbk
Keramika Indonesia
Assosiasi Tbk
Mulia Industrindo Tbk
Surya Toto Indonesia Tbk
Alaska Industrindo Tbk
Alumindo Light Metal
Industry Tbk
Beton Jaya Manunggal
Tbk
Citra Turbindo Tbk
Gunawan Dianjaya Steel
Tbk
Indal Aluminium Industry
Tbk
Itamaraya Tbk
Jakarta Kyoei Steel Work
LTD Tbk
Jaya Pari Steel Tbk
Krakatau Steel Tbk
Lion Metal Works Tbk
Lionmesh Prima Tbk
Hanson International Tbk
Pelat Timah Nusantara
Tbk
Pelangi Indah Canindo
Tbk
Tembaga Mulia Semanan
Tbk
Barito Pasific Tbk
2
3
4
Sampel
1
-
2
3
-
-
-
-
4
-
-
-
-
-
-
-
82
Universitas Sumatera Utara
27
28
BUDI
DPNS
29
EKAD
30
ETWA
31
INCI
32
33
SOBI
SRSN
34
TPIA
35
36
UNIC
AKKU
37
38
39
AKPI
APLI
BRNA
40
FPNI
41
IGAR
42
43
44
45
IPOL
SIAP
SIMA
TRST
46
YPAS
47
CPIN
48
49
JPFA
MAIN
50
51
MBAI
SIPD
52
SULI
53
TIRT
Budi Acid Jaya Tbk
Duta Pertiwi Nusantara
Ekadharma International
Tbk
Eterindo Wahanatama
Tbk
Intan Wijaya
International Tbk
Sorini Agro Asia
Corporindo
Indo Acitama Tbk
Chandra Asri
Petrochemical Tbk
Unggul Indah Cahaya
Tbk
Alam Karya Unggul Tbk
Argha Karya Prima
Industry Tbk
Asiaplast Industries Tbk
Berlina Tbk
Titan Kimia Nusantara
Tbk
Champion Pasific
Indonesi Tbk
Indopoly Swakarsa
Industry Tbk
Sekawan Intipratama Tbk
Siwani Makmur Tbk
Trias Sentosa Tbk
Yana Prima Hasta
Persada Tbk
Charoen Pokphand
Indonesia Tbk
Japfa Comfeed Indonesia
Tbk
Malindo Feedmill Tbk
Multibreeder Adirama
Indonesia Tbk
Sierad Produce Tbk
Sumalindo Lestari Jaya
Tbk
Tirta Mahakam
Resources Tbk
-
-
-
-
-
-
-
-
-
-
-
5
-
6
-
-
-
83
Universitas Sumatera Utara
54
55
ALDO
FASW
56
57
INKP
INRU
58
KBRI
59
60
SAIP
SPMA
61
62
63
64
65
66
TKIM
ASII
AUTO
BRAM
GDYR
GJTL
67
68
IMAS
INDS
69
LPIN
70
71
MASA
NIPS
72
73
74
75
76
77
PRAS
SMSM
ADMG
ARGO
CNTX
ERTX
78
79
80
81
82
ESTI
HDTX
INDR
KARW
MYTX
83
84
PAFI
PBRX
Alkindo Naratama Tbk
Fajar Surya Wisesa Tbk
Indah Kiat Pulp&paper
Tbk
Toba Pulp Lestari Tbk
Kertas Basuki Rachmat
Indonesia Tbk
Surabaya Agung Industri
Pulp&Kertas Tbk
Suparma Tbk
Pabrik Kertas Tjiwi
Kimia Tbk
Astra International Tbk
Astra Auto Part Tbk
Indo Kordsa Tbk
Goodyear Indonesia Tbk
Gajah Tunggal Tbk
Indomobil Sukses
International Tbk
Indospring Tbk
Multi Prima Sejahtera
Tbk
Multistrada Arah Sarana
Tbk
Nippres Tbk
Prima alloy steel
Universal Tbk
Selamat Sempurna Tbk
Polychem Indonesia Tbk
Argo Pantes Tbk
Centex Tbk
Eratex Djaya Tbk
Ever Shine Textile
Industry Tbk
Pan Asia Indosyntec Tbk
Indo Rama Synthetic Tbk
Karwell Indonesia Tbk
Apac Citra Centertex Tbk
Pan Asia Filament Inti
Tbk
Pan Brothers Tbk
-
-
-
-
-
7
-
8
-
-
9
-
10
-
-
-
-
-
-
84
Universitas Sumatera Utara
85
POLY
86
RICY
87
SSTM
88
89
TFCO
TRIS
90
91
92
UNIT
UNTX
BATA
93
BIMA
94
95
SIMM
IKBI
96
97
98
99
100
JECC
KBLI
KBLM
VOKS
PTSN
101 ADES
102
103
104
105
106
AISA
ALTO
CEKA
DAVO
DLTA
107 ICBP
108 INDF
109 MLBI
110 MYOR
111 PSDN
112 ROTI
113 SKBM
Asia Pasific Fibers Tbk
Ricky Putra Globalindo
Tbk
Sunson Textile
Manufacturer Tbk
Tifico Fiber Indonesia
Tbk
Trisula International Tbk
Nusantara Inti Corpora
Tbk
Unitex Tbk
Sepatu Bata Tbk
Primarindo Asia
Infrastructure
Surya Intrindo Makmur
Tbk
Sumi Indo Kabel Tbk
Jembo Cable Company
Tbk
KMI Wire and Cable Tbk
Kabelindo Murni Tbk
Voksel Electric Tbk
Sat Nusa Persada Tbk
Akasha Wira
International Tbk
Tiga Pilar Sejahtera Food
Tbk
Tri Banyan Tirta Tbk
Cahaya Kalbar Tbk
Davomas Abadi Tbk
Delta Jakarta Tbk
Indofood CBP Sukses
Makmur Tbk
Indofood Sukses Makmur
Tbk
Multi Bintang Indonesia
Tbk
Mayora Indah Tbk
Prashida Aneka Niaga
Nippon Indosari
Corporindo Tbk
Sekar Bumi Tbk
-
-
-
-
-
11
-
-
-
-
-
-
-
-
12
-
13
-
-
-
85
Universitas Sumatera Utara
114 SKLT
115 STTP
116 GGRM
117 HMSP
118 RMBA
119 WIIM
120
121
122
123
124
125
DVLA
INAF
KAEF
KLBF
MERK
PYFA
126 SCPI
127 SQBB
128
129
130
131
132
TSPC
MBTO
MRAT
TCID
UNVR
133 KDSI
134 KICI
135 LMPI
Sekar Laut Tbk
Siantar Top Tbk
Gudang Garam Tbk
Hanjaya Mandala
Sampoerna Tbk
Bentoel International
Investama Tbk
Wismilak Inti Makmur
Tbk
Darya Varia Laboratoria
Tbk
Indofarma Tbk
Kimia Farma Tbk
Kalbe Farma Tbk
Merck Indonesia Tbk
Pyridam Farma Tbk
Merck Sharp Dohme
Pharma Tbk
Taisho Pharmaceutical
Indonesia Tbk
Tempo Scan Pasific Tbk
Martina Bento Tbk
Mustika Ratu Tbk
Mandom Indoenesia Tbk
Unilever Indonesia Tbk
Kedawung Setia
Industrial Tbk
Kedaung Indag Can Tbk
Langgeng Makmur
Industry Tbk
-
14
-
-
-
-
15
16
17
-
18
19
-
86
Universitas Sumatera Utara
Data Dividen Payout Ratio 2012-2014
dividen payout ratio
NO
KODE
NAMA PERUSAHAAN
2012
2013
2014
0.09005
0.0754
0.0768
11.039
0.2358
63.291
1
AISA
2
ALMI
Tiga Pilar Sejahtera Tbk
Alumindo Light Metal Industry
Tbk
3
AMFG
Asahimas Flat Glass Tbk
0.103
0.1002
0.1026
4
ASII
0.1392
0.1333
0.1333
5
CPIN
Astra International Tbk
Chareon Pokphand Indonesia
Tbk
0.256
0.2987
0.4299
6
GDYR
Goodyear Indonesia Tbk
0.1625
0.2336
0.4285
7
0.4793
0.3022
0.2867
0.4716
0.6491
0.3212
9
GGRM Gudang Garam Tbk
Indofood CBP Sukses Makmur
INDF
Tbk
Indocement Tunggal Prakarsa
INTP
Tbk
0.2266
0.3306
0.6284
10
INDS
Indospring Tbk
0.3782
10.178
0.4145
11
KAEF
Kimia Farma Tbk
16.747
143.414 22.863
12
KLBF
Kalbe Farma Tbk
0.0256
0.0046
0.0038
13
MERK
Merck Indonesia Tbk
0.7418
0.798
0.8023
14
MYOR Mayora Indah Tbk
0.1593
0.2062
0.5099
15
SMGR
Semen Gresik Tbk
0.5
4.5
0.4343
16
SMSM
Selamat Sempurna Tbk
0.1973
0.2803
0.2214
17
TCID
Mandom Indonesia Tbk
0.4946
0.4648
0.4267
18
TRST
Trias Sentosa Tbk
0.909
0.8333
0.4545
19
UNVR
Unilever Indonesia TBK
0.94
0.9472
0.9401
8
Lampiran ii
87
Universitas Sumatera Utara
Data Debt to Equity Ratio 2012-2014
Debt to Equity Ratio
(DER)
NO
KODE
1 AISA
NAMA PERUSAHAAN
2012
2013
2014
0.90
1.13
1.05
2 ALMI
Tiga Pilar Sejahtera Tbk
Alumindo Light Metal Industry
Tbk
2.201
3.187
4.011
3 AMFG
Asahimas Flat Glass Tbk
0.268
0.282
0.23
4 ASII
Astra International Tbk
0.099
0.035
0.028
5 CPIN
Chareon Pokphand Indonesia Tbk
0.51
0.58
0.91
6 GDYR
Goodyear Indonesia Tbk
1.35
0.98
1.17
7 GGRM Gudang Garam Tbk
Indofood CBP Sukses Makmur
8 INDF
Tbk
0.56602 0.7259 0.75217
0.74
1.05
1.08
9 INTP
Indocement Tunggal Prakarsa Tbk
0.008
0.007
0.005
10 INDS
Indospring Tbk
0.465
0.253
0.249
11 KAEF
Kimia Farma Tbk
0.445
0.527
0.6467
12 KLBF
Kalbe Farma Tbk
0.0277
0.0701 0.0316
13 MERK
Merck Indonesia Tbk
0.0037
0.0036 0.0029
14 MYOR Mayora Indah Tbk
1.71
1.49
1.51
15 SMGR
Semen Gresik Tbk
0.222
0.196
0.163
16 SMSM
Selamat Sempurna Tbk
0.3
0.36
0.39
17 TCID
Mandom Indonesia Tbk
0.15
0.239
0.444
18 TRST
Trias Sentosa Tbk
0.617
0.907
0.857
19 UNVR
Unilever Indonesia TBK
1.858
1.986
2.105
Lampiran iii
88
Universitas Sumatera Utara
Data Current Ratio 2012-2014
Current Ratio
NO
KODE
NAMA PERUSAHAAN
2012
2013
2014
1 AISA
Tiga Pilar Sejahtera Tbk
1.27
1.75
2.66
2 ALMI
Alumindo Light Metal Industry Tbk
1.292
1.059
1.025
3 AMFG
Asahimas Flat Glass Tbk
3.887
4.178
5.684
4 ASII
Astra International Tbk
1.4
1.2
1.3
5 CPIN
Chareon Pokphand Indonesia Tbk
3.31
3.79
2.24
6 GDYR
Goodyear Indonesia Tbk
0.89
0.94
0.94
7 GGRM Gudang Garam Tbk
21.702 17.221 16.202
8 INDF
Indofood CBP Sukses Makmur Tbk
2.05
1.68
1.81
9 INTP
Indocement Tunggal Prakarsa Tbk
6.03
6.15
4.93
10 INDS
Indospring Tbk
2.361
3.856
2.912
11 KAEF
Kimia Farma Tbk
0.028
0.0243 0.0293
12 KLBF
Kalbe Farma Tbk
34.036 28.393 34.036
13 MERK
Merck Indonesia Tbk
3.87
3.98
4.59
14 MYOR Mayora Indah Tbk
2.76
2.4
2.09
15 SMGR
Semen Gresik Tbk
1.706
1.882
2.209
16 SMSM
Selamat Sempurna Tbk
2.05
2.11
2.11
17 TCID
Mandom Indonesia Tbk
7.727
3.573
1.798
18 TRST
Trias Sentosa Tbk
1.303
1.143
1.238
19 UNVR
Unilever Indonesia TBK
0.637
0.671
0.715
Lampiran iv
89
Universitas Sumatera Utara
Data Harga Saham 2012-2014
Harga Saham
NO
KODE
NAMA PERUSAHAAN
2012
2013
2014
Tiga Pilar Sejahtera Tbk
Alumindo Light Metal Industry
Tbk
Asahimas Flat Glass Tbk
1080
1430
2095
630
600
268
8300
7000
8050
7550
6800
7425
5 CPIN
Astra International Tbk
Chareon Pokphand Indonesia
Tbk
3500
3375
3780
6 GDYR
Goodyear Indonesia Tbk
12300
19000
16000
56000
42000
60700
5850
6600
6750
22650
20000
25000
3091.20
2675
1600
1 AISA
2 ALMI
3 AMFG
4 ASII
7 GGRM Gudang Garam Tbk
Indofood CBP Sukses Makmur
Tbk
8 INDF
Indocement Tunggal Prakarsa
Tbk
9 INTP
10 INDS
Indospring Tbk
11 KAEF
Kimia Farma Tbk
720
590
1465
12 KLBF
Kalbe Farma Tbk
1030
1250
1830
13 MERK
Merck Indonesia Tbk
152000
189000
160000
19600.06
26000
20900
14 MYOR Mayora Indah Tbk
15 SMGR
Semen Gresik Tbk
15700
14150
16200
16 SMSM
Selamat Sempurna Tbk
2425
3450
4750
17 TCID
Mandom Indonesia Tbk
11000
11900
17525
18 TRST
Trias Sentosa Tbk
325
250
380
19 UNVR
Unilever Indonesia TBK
21200
26000
32300
Lampiran v
90
Universitas Sumatera Utara
Data Beta Saham 2012-2014
Beta Saham
NO
KODE
NAMA PERUSAHAAN
2012
2013
2014
1
AISA
Tiga Pilar Sejahtera Tbk
0.599
0.995 1.106
2
ALMI
Alumindo Light Metal Industry Tbk
1.222
1.022 0.697
3
AMFG Asahimas Flat Glass Tbk
1.161
0.850 0.763
4
ASII
Astra International Tbk
1.181
1.049 1.044
5
CPIN
Chareon Pokphand Indonesia Tbk
1.678
1.475 1.390
6
GDYR Goodyear Indonesia Tbk
0.656
0.783 0.678
7
GGRM Gudang Garam Tbk
0.659
0.724 0.678
8
INDF
Indofood CBP Sukses Makmur Tbk
1.062
1.024 0.9948
9
INTP
Indocement Tunggal Prakarsa Tbk
0.957
1.069 1.043
10
INDS
Indospring Tbk
2.087
1.292 0.911
11
KAEF
Kimia Farma Tbk
1.633
1.762 1.784
12
KLBF
Kalbe Farma Tbk
0.942
0.938 0.966
13
MERK Merck Indonesia Tbk
0.493
0.607 0.758
14
MYOR Mayora Indah Tbk
0.996
1.122 1.095
15
SMGR
0.927
1.193 1.276
16
SMSM Selamat Sempurna Tbk
1.012
0.623 0.558
17
TCID
Mandom Indonesia Tbk
0.454
0.466 0.414
18
TRST
Trias Sentosa Tbk
1.300
1.403 1.004
19
UNVR Unilever Indonesia TBK
0.478
0.715 0.879
Semen Gresik Tbk
Lampiran vi
91
Universitas Sumatera Utara
Hasil Ouput SPSS
Descriptive Statistics
N
Minimum
Maximum
Mean
Std. Deviation
HARGA SAHAM
57
250.00
189000.00
19544.5484
37575.32476
DIVIDEND PAYOUT
57
.00
143.41
5.1020
20.76615
DEBT TO EQUITY RATIO
57
.00
4.01
.7383
.80650
CURRENT RATIO
57
.02
34.04
4.7864
7.65212
BETA SAHAM
57
.41
2.09
.9938
.35970
Valid N (listwise)
57
RATIO
92
Universitas Sumatera Utara
93
Universitas Sumatera Utara
Model Summary
Model
R
R Square
a
1
.443
b
Adjusted R
Std. Error of the
Square
Estimate
.196
.151
1.49839
a. Predictors: (Constant), CR, DER, DPR
b. Dependent Variable: Ln_Harga Saham
b
ANOVA
Model
1
Sum of Squares
Regression
Df
Mean Square
29.031
3
9.677
Residual
118.995
53
2.245
Total
148.026
56
F
4.310
Sig.
a
.009
a. Predictors: (Constant), CR, DER, DPR
b. Dependent Variable: Ln_Harga Saham
94
Universitas Sumatera Utara
Coefficients
a
Standardized
Unstandardized Coefficients
Model
1
B
(Constant)
Std. Error
8.219
.248
DPR
.101
.146
DER
-.278
.324
CR
Coefficients
Beta
t
Sig.
33.095
.000
.116
.693
.491
.118
-.313
-2.363
.022
.202
.282
1.608
.114
a. Dependent Variable: Ln_Harga Saham
95
Universitas Sumatera Utara
Uji Signifikansi Beta Saham dalam Memoderasi Hubungan Antara
Kebijakan Dividen Terhadap Harga Saham
Coefficients
a
Standardized
Unstandardized Coefficients
Model
1
B
Std. Error
(Constant)
9.143
.327
Zscore: DPR
-.081
.198
Zscore: BETA
-.796
-.423
Coefficients
Beta
t
Sig.
27.992
.000
-.050
-.410
.683
.202
-.489
-3.942
.000
.265
-.194
-1.600
.116
SAHAM
Absx1_x2
a. Dependent Variable: Ln_Harga Saham
Uji Signifikansi Beta Saham dalam Memoderasi Hubungan Antara Leverage
Terhadap Harga Saham
Coefficients
a
Standardized
Unstandardized Coefficients
Model
1
B
Std. Error
(Constant)
8.664
.379
Zscore: DER
-.559
.189
Zscore: BETA
-.681
.511
Coefficients
Beta
t
Sig.
22.889
.000
-.344
-2.950
.005
.193
-.419
-3.531
.001
.291
.020
2.167
.048
SAHAM
Absx1_x2
a. Dependent Variable: Ln_Harga Saham
96
Universitas Sumatera Utara
Uji Signifikansi Beta Saham dalam Memoderasi Hubungan Antara
Likuiditas Terhadap Harga Saham
Coefficients
a
Standardized
Unstandardized Coefficients
Model
1
B
(Constant)
Zscore: CR
Zscore: BETA
Std. Error
8.794
.287
.287
.215
-.648
-.064
Coefficients
Beta
T
Sig.
30.590
.000
.176
1.335
.187
.205
-.398
-3.157
.003
.182
-.044
-.350
.728
SAHAM
Absx1_x2
a. Dependent Variable: Ln_Harga Saham
97
Universitas Sumatera Utara