Analisis Pengaruh Kinerja Keuangan Terhadap Perubahan Harga Saham Pada Perusahaan Perbankan Go Public Yang Terdaftar Di Bursa Efek Indonesia Tahun 2011-2013

ABSTRAK
ANALISIS PENGARUH KINERJA KEUANGAN TERHADAP
PERUBAHAN HARGA SAHAM PADA PERUSAHAAN
PERBANKAN GO PUBLIC YANG TERDAFTAR
DI BURSA EFEK INDONESIA
TAHUN 2011-2013
Tujuan penelitian ini untuk mengetahui pengaruh kinerja keuangan yang
di proxy melaluicapital adequacy ratio(CAR), net interest margin (NIM), nonperforming loan (NPL), dan price earning ratio (PER) secara empiris terhadap
perubahan
harga
saham.Penelitian
ini
merupakanjenispenelitiankausaldenganpopulasi penelitianadalah
perusahaan
perbankan yang go-public di Bursa Efek Indonesia selama periode 20112013.Pemilihan sampeldilakukandengan menggunakan teknikpurposive sampling.
Dari 36perusahaan go-public diperoleh 31 perusahaan sampel.Data
yangdigunakanadalah data sekunder.
Penelitian ini menganalisis hubungan antara capital adequacy ratio (CAR),
net interest margin (NIM),non-performing loan (NPL), dan price earning ratio
(PER) terhadap perubahan harga saham. Metode statistik yangdigunakan dalam
penelitian ini adalah analisis statistik deskriptif, analisis regresi linier berganda,

serta menggunakan metode analisis koefisien determinasi.
Hasil penelitian ini menunjukkan bahwa secara parsial variabel net interest
margin (NIM) dan non performing loan (NPL) berpengaruh signifikan terhadap
perubahan harga saham, sedangkan variabelcapital adequacy ratio (CAR) dan
price earning ratio (PER) tidak berpengaruh signifikan terhadap perubahan
hargasaham. Secara simultan baik variabel capital adequacy ratio (CAR),net
interest margin (NIM),non-performing loan (NPL), dan price earning ratio
(PER) berpengaruh
signifikan
terhadap perubahan
harga
saham
padaperusahaan perbankango-publictahun 2011-2013 yang terdaftar didi Bursa
Efek Indonesia.

Kata Kunci: capital adequacy ratio, net interest margin, non-performing loan,
price earning ratio,harga saham

i
Universitas Sumatera Utara

ABSTRACT
THE INFLUENCE ANALYSIS OF FINANCIAL PERFORMANCE TO
STOCK PRICE CHANGES AT BANKING LISTED IN INDONESIAN
STOCK EXCHANGE IN 2011-2013

The purpose of this reseach is to empirically study to determine the effect
of the financial performance by Capital Adequacy Ratio (CAR), Net Interest
Margin (NIM), Non Performing Loan (NPL), and Price Earning Ratio (PER) to
stock price changes. This research is classified as causal research which
population of this research are go public banking at listed in indonesian stock
exchange (ISX) during period of 2011-2013. The samples are obtained by using
purposive sampling method. As the result, from 36 banking , 31 are used as the
samples of this study. The data used in this reseach is classified as secondary data.
This research analyzes the relationship between capital adequacy ratio
(CAR), net interest margin (NIM), non-performing loan (NPL), and price earning
ratio (PER) to stock price changes. The statistical method used in this research
was analyzed by using descriptive statistical analysis, multiple linear regression
analysis, and next analysis of the coefficient of determination.
The result indicate that partially net interest margin and non performing

loan variable has significantly influenced to the stock price changes, and partially
capital adequacy ratio (CAR) and price earning ratio (PER) variable has no
significant influenced to stock price changes. Simultaneously both capital
adequacy ratio, net interest margin, non-performing loan, and price earning ratio
variable have significantly influenced to the stock price change at go public
banking at listed in Indonesian Stock Exchange in 2011-2013.

Keywords: capital adequacy ratio, net interest margin, non performing
loan, price earning ratio, stock price

ii
Universitas Sumatera Utara