Pengaruh Struktur Modal Terhadap Harga Saham pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia
Lampiran i
Daftar Perusahaan Manufaktur yang Menjadi Sampel
NO. Nama Perusahaan KodeSampel 12
22. PT. Gunawan Dianjaya Steel Tbk GDST
Bukan sampel
23. PT. Champion Pasifik Indonesia Tbk
IGAR Bukan sampel
24. PT. Inti Keramik Alam Asri Industri Tbk
IKAI
Bukan sampel
25. PT. Indal Alumunium Industri Tbk
INAI
Sampel 11
26. PT. Intan Wijaya International Tbk
INCI Bukan sampel
27. PT. Indocement Tunggal Perkasa Tbk
INTP
28. PT. Itamarya Tbk
21. PT. Titan Kimia Nusantara Tbk FPNI
33. PT. Malindo Feedmil Tbk MAIN Sampel 15
37. PT. Suparma Tbk SPMA
36. PT. Mayora Indah Tbk MYOR Sampel 17
Bukan sampel
35. PT. Sunson Textile Manufacture Tbk SSTM
Sampel 16
34. PT. Holcim Indonesia Tbk SMCB
Bukan sampel
ITMA
32. PT. Krakatau Steel Tbk KRAS
Sampel 14
31. PT. Jaya Pari Steel Tbk JPRS
30. PT. Japfa Comfeed Indonesia Tbk JPFA Sampel 13
29. PT. Jakarta Kyowei Steel Work Tbk JKSW Bukan sampel
Bukan sampel
Bukan sampel
20. PT. Fajar Surya Wisesa Tbk FASW Sampel 10
Kriteria Penentuan Sampel Sampel
4. PT. Arga Karya Prima Industry Tbk AKPI
Sampel 2
7. PT. Alumindo Light Metal Industri Tbk ALMI
6. PT. Alaska Industri Indo Tbk ALKA Bukan sampel
Bukan sampel
5. PT. Alkindo Naratama Tbk ALDO
Bukan sampel
3. PT. Alam Karya Unggul Tbk AKKU Bukan sampel
Sampel 3
2. PT. Argo Panthes Tbk ARGO Bukan sampel
Sampel 1
1. PT. Polychem Indonesia Tbk ADMG
3
2
1
8. PT. Asahimas Flat Glass Tbk AMFG
9. PT. Asiaplast Industries Tbk APLI Sampel 4
19. PT. Eterindo Wahanatama ETWA Bukan sampel
15. PT. Charoen Pokphand Indonesia Tbk CPIN
Bukan sampel
18. PT. Ekadharma International Tbk EKAD
Bukan sampel
17. PT. Duta Pertiwi Nusantara Tbk DPNS
16. PT. Citra Turbindo Tbk CTBN Sampel 9
Sampel 8
Sampel 7
10. PT. Astra Auto Part Tbk AUTO
14. PT Budi Acid Jaya Tbk BUDI
13. PT. Beton Jaya Manunggal Tbk BTON Sampel 6
12. PT. Berlina Tbk BRNA Sampel 5
Bukan sampel
11. PT. Primarindo Asia Infrastructure Tbk BIMA
Bukan sampel
Sampel 18
38. PT. Sekar Laut Tbk SKLT
11. PT. Hanjaya Mandala Sampoerna HMSP
1. PT. Alumindo Light Metal Industri Tbk ALMI
2. PT. Asahimas Flat Glass Tbk AMFG
3. PT. Asiaplast Industries Tbk APLI
4. PT. Berlina Tbk BRNA
5. PT. Beton Jaya Manunggal Tbk BTON
6. PT. Budi Acid Jaya Tbk BUDI
7. PT. Charoen Pokphand Indonesia Tbk CPIN
8. PT. Citra Turbindo Tbk CTBN
9. PT. Fajar Surya Wisesa Tbk FASW
10. PT. Gudang Garam Tbk GGRM
12. PT. Indal Alumunium Industri Tbk
INDF Sampel 30
INAI
13. PT. Indocement Tunggal Perkasa Tbk
INTP
14. PT. Indofood Sukses Makmur
INDF
15. PT. Japfa Comfeed Indonesia Tbk JPFA
16. PT. Jaya Pari Steel Tbk JPRS
17. PT. Malindo Feedmil Tbk MAIN
18. PT. Mustika Ratu Tbk MRAT
19. PT. Multisrada Arah Serana MASA
20. PT. Nusantara Inti Corpora UNIT
Lampiran ii
Daftar Sampel Perusahaan yang Memenuhi kriteria
NO. Nama Perusahaan Kode53. PT. Indofood Sukses Makmur
Sampel 19
45. PT. Voksel electric Tbk
39. PT. Selamat Sempurna Tbk SMSM Sampel 20
40. PT. Mandom Indonesia Tbk TCID
Bukan sampel
41. PT. Trias Sentosa Tbk TRST
Sampel 21
42. PT. Tempo Scan Pacifik Tbk TSPC Sampel 22
43. PT. Multisrada Arah Serana MASA
Sampel 23
44. PT. Nusantara Inti Corpora UNIT
Sampel 24
VOKS Sampel 25
Sampel 29
46. PT. Sat Nusapersada Tbk PTSN Bukan sampel
47. PT. Ultrajaya Milk Industry & Trading Company Tbk. ULTJ
Sampel 26
48. PT. Asia Pasific Fibers Tbk POLY
Bukan sampel
49. PT. nippon Indosari Corpindo ROTI Bukan sampel
50. PT. Mustika Ratu Tbk MRAT Sampel 27
51. PT. Gudang Garam Tbk GGRM
Sampel 28
52. PT. Hanjaya Mandala Sampoerna HMSP
21. PT. Holcim Indonesia Tbk SMCB
22. PT. Mayora Indah Tbk MYOR
0.77
6.46
17. PT. Malindo Feedmil Tbk MAIN
0.30
0.37
0.30
16. PT. Jaya Pari Steel Tbk JPRS
1.18
1.00
1.56
15. PT. Japfa Comfeed Indonesia Tbk JPFA
0.59
1.40
2.15
INDF
14. PT. Indofood Sukses Makmur
0.15
0.17
0.24
INTP
13. PT. Indocement Tunggal Perkasa Tbk
4.13
3.88
6.38
INAI
2.78
18. PT. Mustika Ratu Tbk MRAT
0.90
0.45
1.07
1.08
24. PT. Suparma Tbk SPMA
1.04
2.01
2.41
23. PT. Polychem Indonesia Tbk ADMG
1.72
1.16
1.00
22. PT. Mayora Indah Tbk MYOR
0.53
0.16
1.20
21. PT. Holcim Indonesia Tbk SMCB
0.27
0.29
0.30
20. PT. Nusantara Inti Corpora UNIT
1.68
0.87
6.01
19. PT. Multisrada Arah Serana MASA
0.18
0.14
12. PT. Indal Alumunium Industri Tbk
1.01
23. PT. Polychem Indonesia Tbk ADMG
1. PT. Alumindo Light Metal Industri Tbk ALMI
0.51
0.46
0.47
3. PT. Asiaplast Industries Tbk APLI
0.25
0.29
0.29
2. PT. Asahimas Flat Glass Tbk AMFG
4.42
3.90
4.26
Struktur modal yang diukur dengan Debt to Equity Ratio
NO. Nama Perusahaan Kode Tahun 2009 2010 20110.60
Data Variabel Penelitian (sebelum Transformasi)
Lampiran iii
VOKS
30. PT. Voksel electric Tbk
ULTJ
29. Pt. Ultrajaya Milk Industry & Trading Company Tbk
28. PT. Tempo Scan Pacifik Tbk TSPC
27. PT. Trias Sentosa Tbk TRST
26. PT. Selamat Sempurna Tbk SMSM
25. PT. Sekar Laut Tbk SKLT
24. PT. Suparma Tbk SPMA
4. PT. Berlina Tbk BRNA
0.59
0.69
0.84
11. PT. Hanjaya Mandala Sampoerna HMSP
0.59
0.44
0.48
10. PT. Gudang Garam Tbk GGRM
0.63
0.60
0.57
9. PT. Fajar Surya Wisesa Tbk FASW
0.69
1.42
8. PT. Citra Turbindo Tbk CTBN
0.60
0.68
0.78
1.43
7. PT. Charoen Pokphand Indonesia Tbk CPIN
1.32
14.53
0.68
6. PT. Budi Acid Jaya Tbk BUDI
0.29
0.23
0.06
5. PT. Beton Jaya Manunggal Tbk BTON
1.07
25. PT. Sekar Laut Tbk SKLT
0.46
18. PT. Mustika Ratu Tbk MRAT
0.13
0.13
0.15
19. PT. Multisrada Arah Serana MASA
3.46
0.63
0.74
20. PT. Nusantara Inti Corpora UNIT
0.23
0.22
0.21
21. PT. Holcim Indonesia Tbk SMCB
0.55
0.35
0.68
0.87
22. PT. Mayora Indah Tbk MYOR
0.35
0.15
0.13
14. PT. Indofood Sukses Makmur
INDF
0.54
0.40
15. PT. Japfa Comfeed Indonesia Tbk JPFA
17. PT. Malindo Feedmil Tbk MAIN
0.61
0.50
0.54
16. PT. Jaya Pari Steel Tbk JPRS
0.23
0.27
0.23
0.31
0.50
INTP
29. PT. Ultrajaya Milk Industry & Trading Company Tbk
0.39
0.38
28. PT. Tempo Scan Pacifik Tbk TSPC
0.25
0.26
0.28
ULTJ
27. PT. Trias Sentosa Tbk TRST
0.31
0.35
0.36
30. PT. Voksel electric Tbk
VOKS
0.70
0.66
0.40
0.41
0.54
0.52
0.63
23. PT. Polychem Indonesia Tbk ADMG
0.71
0.67
0.51
24. PT. Suparma Tbk SPMA
0.52
0.47
0.52
25. PT. Sekar Laut Tbk SKLT
0.42
0.41
0.43
26. PT. Selamat Sempurna Tbk SMSM
0.42
0.19
13. PT. Indocement Tunggal Perkasa Tbk
0.73
1. PT. Alumindo Light Metal Industri Tbk ALMI
30. PT. Voksel electric Tbk
VOKS
2.29
1.92
2.17 Struktur modal yang diukur dengan Debt to Asset Ratio
NO. Nama Perusahaan Kode Tahun 2009 2010 2011
1.33
0.54
1.31
1.28
2. PT. Asahimas Flat Glass Tbk AMFG
0.22
0.22
0.20
3. PT. Asiaplast Industries Tbk APLI
0.55
0.45
0.31
27. PT. Trias Sentosa Tbk TRST
0.69
0.74
26. PT. Selamat Sempurna Tbk SMSM
0.73
0.88
0.70
0.68
ULTJ
0.64
0.61
28. PT. Tempo Scan Pacifik Tbk TSPC
0.34
0.36
0.49
29. PT. Ultrajaya Milk Industry & Trading Company Tbk
0.24
0.34
0.81
0.37
0.57
0.60
0.63
10. PT. Gudang Garam Tbk GGRM
0.32
0.31
11. PT. Hanjaya Mandala Sampoerna HMSP
0.42
0.41
0.50
0.47
12. PT. Indal Alumunium Industri Tbk
INAI
0.86
0.80
9. PT. Fajar Surya Wisesa Tbk FASW
0.79
4. PT. Berlina Tbk BRNA
6. PT. Budi Acid Jaya Tbk BUDI
0.60
0.59
0.60
5. PT. Beton Jaya Manunggal Tbk BTON
0.07
0.19
0.22
0.33
0.55
0.59
0.50
7. PT. Charoen Pokphand Indonesia Tbk CPIN
0.79
0.54
0.51
8. PT. Citra Turbindo Tbk CTBN
0.68
Struktur modal yang diukur dengan Interest Coverage Ratio
NO. Nama Perusahaan Kode Tahun 2009 2010 201121. PT. Holcim Indonesia Tbk SMCB 3.15
24. PT. Suparma Tbk SPMA 1.13
44.41
1.33
23. PT. Polychem Indonesia Tbk ADMG 0.69
6.12
8.81
22. PT. Mayora Indah Tbk MYOR 6.24
6.29
5.73
0.24
25.91
0.25
0.52
20. PT. Nusantara Inti Corpora UNIT
6.54
7.97
19. PT. Multisrada Arah Serana MASA 4.05
54.14
44.79
18. PT. Mustika Ratu Tbk MRAT 40.28
0.01
2.45
25. PT. Sekar Laut Tbk SKLT
17. PT. Malindo Feedmil Tbk MAIN 2.71
37.85
1.89
VOKS 2.02
30. PT. Voksel electric Tbk
6.58
5.76
3.81
ULTJ
29. PT. Ultrajaya Milk Industry & Trading Company Tbk
35.95
33.49
0.63
28. PT. Tempo Scan Pacifik Tbk TSPC
16.42
11.79
3.99
27. PT. Trias Sentosa Tbk TRST
59.67
81.74
26. PT. Selamat Sempurna Tbk SMSM 49.91
2.56
2.10
5.94
17.68
1. PT. Alumindo Light Metal Industri Tbk ALMI 0.13
6. PT. Budi Acid Jaya Tbk BUDI
9. PT. Fajar Surya Wisesa Tbk FASW 2.40
8. PT. Citra Turbindo Tbk CTBN 5.57 9.83 142.62
0.72
54.49
82.31
7. PT. Charoen Pokphand Indonesia Tbk CPIN
2.93
2.25
2.65
5. PT. Beton Jaya Manunggal Tbk BTON 209.83 125.19 230.75
1.22
3.20
2.84
4. PT. Berlina Tbk BRNA 1.79
13.79 29.97 148.05
3. PT. Asiaplast Industries Tbk APLI
21.05
23.05
2. PT. Asahimas Flat Glass Tbk AMFG 4.00
3.42
1.85
3.37
10. PT. Gudang Garam Tbk GGRM 11.70
21.44
14. PT. Indofood Sukses Makmur
31.57
16. PT. Jaya Pari Steel Tbk JPRS
2.63
7.46
59.73
15. PT. Japfa Comfeed Indonesia Tbk JPFA
4.45
5.74
3.25
INDF
INTP 92.83 202.38 316.57
24.58
13. PT. Indocement Tunggal Perkasa Tbk
4.53
1.67
1.08
INAI
12. PT. Indal Alumunium Industri Tbk
51.28
98.84
11. PT. Hanjaya Mandala Sampoerna HMSP 35.24
26.15
6.95
Harga saham
NO. Nama Perusahaan Kode Tahun 2009 2010 201123. PT. Polychem Indonesia Tbk ADMG 134 215 580
16. PT. Jaya Pari Steel Tbk JPRS 265 580 485
17. PT. Malindo Feedmil Tbk MAIN 900 3200 980
18. PT. Mustika Ratu Tbk MRAT 395 1710 500
19. PT. Multisrada Arah Serana MASA 205 330 500
20. PT. Nusantara Inti Corpora UNIT 123 139 300
21. PT. Holcim Indonesia Tbk SMCB 1550 2250 2175
22. PT. Mayora Indah Tbk MYOR 4500 10750 14250
24. PT. Suparma Tbk SPMA 205 230 240
INDF 3550 4875 4600
25. PT. Sekar Laut Tbk SKLT 150 140 140
26. PT. Selamat Sempurna Tbk SMSM 750 1070 1360
27. PT. Trias Sentosa Tbk TRST 220 270 390
28. PT. Tempo Scan Pacifik Tbk TSPC 730 1710 2550
29. PT. Ultrajaya Milk Industry & Trading Company Tbk
ULTJ 580 1210 1080
30. PT. Voksel electric Tbk
15. PT. Japfa Comfeed Indonesia Tbk JPFA 1400 3150 3825
14. PT. Indofood Sukses Makmur
1. PT. Alumindo Light Metal Industri Tbk ALMI 590 840 910
6. PT. Budi Acid Jaya Tbk BUDI 220 220 240
2. PT. Asahimas Flat Glass Tbk AMFG 1850 5800 6550
3. PT. Asiaplast Industries Tbk APLI
62
90
75
4. PT. Berlina Tbk BRNA 600 1600 1770
5. PT. Beton Jaya Manunggal Tbk BTON 275 340 335
7. PT. Charoen Pokphand Indonesia Tbk CPIN 2250 1840 2150
INTP 13700 15950 17050
8. PT. Citra Turbindo Tbk CTBN 3100 2500 4250
9. PT. Fajar Surya Wisesa Tbk FASW 1600 2875 4375
10. PT. Gudang Garam Tbk GGRM 21550 40000 62050
11. PT. Hanjaya Mandala Sampoerna HMSP 10400 28150 39000
12. PT. Indal Alumunium Industri Tbk
INAI 215 360 540
13. PT. Indocement Tunggal Perkasa Tbk
VOKS 410 450 820 VOKS 0.831 0.651 0.773
30. PT. Voksel electric Tbk
22. PT. Mayora Indah Tbk MYOR 0.000 0.145 0.543
15. PT. Japfa Comfeed Indonesia Tbk JPFA 0.446 0.002 0.169
16. PT. Jaya Pari Steel Tbk JPRS -1.195 -0.993 -1.217
17. PT. Malindo Feedmil Tbk MAIN 1.866 1.021 0.764
18. PT. Mustika Ratu Tbk MRAT -1.861 -1.933 -1.722
19. PT. Multisrada Arah Serana MASA 1.794 -0.145 0.519
20. PT. Nusantara Inti Corpora UNIT -1.212 -1.239 -1.311
21. PT. Holcim Indonesia Tbk SMCB 0.185 -0.637 -0.788
23. PT. Polychem Indonesia Tbk ADMG 0.881 0.700 0.039
14. PT. Indofood Sukses Makmur
24. PT. Suparma Tbk SPMA 0.077 0.072 0.063
25. PT. Sekar Laut Tbk SKLT -0.316 -0.378 -0.297
26. PT. Selamat Sempurna Tbk SMSM -0.313 -0.130 -0.363
27. PT. Trias Sentosa Tbk TRST -0.388 -0.447 -0.498
28. PT. Tempo Scan Pacifik Tbk TSPC -1.078 -1.014 -0.707
29. PT. Ultrajaya Milk Industry & Trading Company Tbk
ULTJ
INDF 0.337 -0.263 -0.535
INTP -1.426 -1.764 -1.873
Lampiran iv
5. PT. Beton Jaya Manunggal Tbk BTON -2.883 -1.481 -1.243
Data Variabel Penelitian (setelah Transformasi)
Struktur modal yang diukur dengan Debt to Equity Ratio
NO. Nama Perusahaan Kode Tahun 2009 2010 20111. PT. Alumindo Light Metal Industri Tbk
ALMI 1.449 1.361 1.487
2. PT. Asahimas Flat Glass Tbk AMFG -1.239 -1.247 -1.371
3. PT. Asiaplast Industries Tbk APLI -0.747 -0.777 -0.682
4. PT. Berlina Tbk BRNA -0.505 -0.522 -0.503
6. PT. Budi Acid Jaya Tbk BUDI -0.393 2.676 0.278
13. PT. Indocement Tunggal Perkasa Tbk
7. PT. Charoen Pokphand Indonesia Tbk CPIN 0.357 -0.248 -0.380
8. PT. Citra Turbindo Tbk CTBN -0.175 0.350 -0.364
9. PT. Fajar Surya Wisesa Tbk FASW -0.565 -0.516 -0.454
10. PT. Gudang Garam Tbk GGRM -0.731 -0.817 -0.524
11. PT. Hanjaya Mandala Sampoerna HMSP -0.367 0.009 -0.106
12. PT. Indal Alumunium Industri Tbk
INAI 1.852 1.356 1.419
- 0.797 -0.612 -0.591
5.00
30. PT. Voksel electric Tbk
22. PT. Mayora Indah Tbk MYOR -0.693 -0.623 -0.458
23. PT. Polychem Indonesia Tbk ADMG -0.347 -0.403 -0.674
24. PT. Suparma Tbk SPMA -0.655 -0.658 -0.662
25. PT. Sekar Laut Tbk SKLT -0.864 -0.900 -0.853
26. PT. Selamat Sempurna Tbk SMSM -0.863 -0.761 -0.891
27. PT. Trias Sentosa Tbk TRST -0.906 -0.942 -0.973
28. PT. Tempo Scan Pacifik Tbk TSPC -1.382 -1.335 -1.261
29. PT. Ultrajaya Milk Industry & Trading Company Tbk
ULTJ
VOKS -0.362 -0.420 -0.379
20. PT. Nusantara Inti Corpora UNIT -1.486 -1.504 -1.549
Struktur modal yang diukur dengan Interest Coverage Ratio
NO. Nama Perusahaan Kode Tahun 2009 2010 20111. PT. Alumindo Light Metal Industri Tbk ALMI -2.01
0.62
1.23
2. PT. Asahimas Flat Glass Tbk AMFG 1.39
3.14
3.05
3. PT. Asiaplast Industries Tbk APLI
2.62
3.40
21. PT. Holcim Indonesia Tbk SMCB -0.605 -1.061 -1.163
19. PT. Multisrada Arah Serana MASA 1.241 -0.768 -0.467
Struktur modal yang diukur dengan Debt to Asset Ratio
NO. Nama Perusahaan Kode Tahun 2009 2010 20119. PT. Fajar Surya Wisesa Tbk FASW -0.565 -0.516 -0.454
1. PT. Alumindo Light Metal Industri Tbk
ALMI 0.283 0.271 0.244
2. PT. Asahimas Flat Glass Tbk AMFG -1.493 -1.499 -1.598
3. PT. Asiaplast Industries Tbk APLI -1.411 -1.155 -1.091
4. PT. Berlina Tbk BRNA -0.505 -0.522 -0.503
5. PT. Beton Jaya Manunggal Tbk BTON -2.605 -1.686 -1.496
6. PT. Budi Acid Jaya Tbk BUDI -1.107 -0.524 -0.684
7. PT. Charoen Pokphand Indonesia Tbk CPIN -0.238 -0.623 -0.667
8. PT. Citra Turbindo Tbk CTBN -0.601 -0.242 -0.856
10. PT. Gudang Garam Tbk GGRM -1.124 -1.183 -0.989
18. PT. Mustika Ratu Tbk MRAT -2.006 -2.068 -1.886
11. PT. Hanjaya Mandala Sampoerna HMSP -0.893 -0.689 -0.748
12. PT. Indal Alumunium Industri Tbk
INAI -0.146 -0.229 -0.217
13. PT. Indocement Tunggal Perkasa Tbk
INTP -1.641 -1.922 -2.016
14. PT. Indofood Sukses Makmur
INDF -0.620 -0.906 -1.063
15. PT. Japfa Comfeed Indonesia Tbk JPFA -0.495 -0.692 -0.612
16. PT. Jaya Pari Steel Tbk JPRS -1.459 -1.308 -1.476
17. PT. Malindo Feedmil Tbk MAIN -0.144 -0.308 -0.382
- 1.169 -1.045 -1.032
4. PT. Berlina Tbk BRNA 0.58
0.90
1.38
27. PT. Trias Sentosa Tbk TRST
4.09
4.40
26. PT. Selamat Sempurna Tbk SMSM 3.91
0.94
0.74
25. PT. Sekar Laut Tbk SKLT -0.46
3.25
24. PT. Suparma Tbk SPMA 0.12
2.80
3.79
0.28
23. PT. Polychem Indonesia Tbk ADMG -0.38
1.81
2.18
22. PT. Mayora Indah Tbk MYOR 1.83
1.84
1.74
21. PT. Holcim Indonesia Tbk SMCB 1.15
20. PT. Nusantara Inti Corpora UNIT -0.65 -1.39 -1.43
2.47
28. PT. Tempo Scan Pacifik Tbk TSPC
2.08
NO. Nama Perusahaan Kode Tahun 2009 2010 2011
10. PT. Gudang Garam Tbk GGRM 9.978 10.597 11.036
9. PT. Fajar Surya Wisesa Tbk FASW 7.378 7.964 8.384
8. PT. Citra Turbindo Tbk CTBN 8.039 7.824 8.355
7. PT. Charoen Pokphand Indonesia Tbk CPIN 7.719 7.518 7.673
6. PT. Budi Acid Jaya Tbk BUDI 5.394 5.394 5.481
5. PT. Beton Jaya Manunggal Tbk BTON 5.617 5.829 5.814
4. PT. Berlina Tbk BRNA 6.397 7.378 7.479
3. PT. Asiaplast Industries Tbk APLI 4.127 4.500 4.317
2. PT. Asahimas Flat Glass Tbk AMFG 7.523 8.666 8.787
1. PT. Alumindo Light Metal Industri Tbk ALMI 6.380 6.733 6.813
1.94 Harga saham
3.51
0.64
VOKS 0.70
30. PT. Voksel electric Tbk
1.88
1.75
1.34
ULTJ
29. PT. Ultrajaya Milk Industry & Trading Company Tbk
3.58
3.63
1.88
19. PT. Multisrada Arah Serana MASA 1.40
1.04
2.29
3.94
4.59
11. PT. Hanjaya Mandala Sampoerna HMSP 3.56
3.26
3.20
10. PT. Gudang Garam Tbk GGRM 2.46
0.20
1.22
9. PT. Fajar Surya Wisesa Tbk FASW 0.87
4.96
8. PT. Citra Turbindo Tbk CTBN 1.72
INAI
4.41 4.00 -0.33
7. PT. Charoen Pokphand Indonesia Tbk CPIN
1.07
0.81
0.97
6. PT. Budi Acid Jaya Tbk BUDI
5.44
4.83
5. PT. Beton Jaya Manunggal Tbk BTON 5.35
1.16
12. PT. Indal Alumunium Industri Tbk
0.07
3.99
15. PT. Japfa Comfeed Indonesia Tbk JPFA
3.80
18. PT. Mustika Ratu Tbk MRAT 3.70
17. PT. Malindo Feedmil Tbk MAIN 1.00 1.78 -4.94
2.87
3.07
3.45
16. PT. Jaya Pari Steel Tbk JPRS
0.97
2.01
4.09
1.49
0.52
1.75
1.18
INDF
14. PT. Indofood Sukses Makmur
5.76
5.31
4.53
INTP
13. PT. Indocement Tunggal Perkasa Tbk
1.51
11. PT. Hanjaya Mandala Sampoerna HMSP 9.250 10.245 10.571
12. PT. Indal Alumunium Industri Tbk
26. PT. Selamat Sempurna Tbk SMSM 6.620 6.975 7.215
ICR 90 .01 316.57 31.0320 55.85756 Valid N (listwise)
3.46 .5039 .39921
14.53 1.3273 1.94437 DAR 90 .07
90 62.00 62050.00 4215.4778 9543.21682 DER 90 .06
Deviation Harga Saham
N Minimum Maximum Mean Std.
Lampiran v
Statistik Deskriptif
Descriptive Statistics
VOKS 6.016 6.109 6.709
30. PT. Voksel electric Tbk
ULTJ 6.363 7.098 6.985
29. PT. Ultrajaya Milk Industry & Trading Company Tbk
28. PT. Tempo Scan Pacifik Tbk TSPC 6.593 7.444 7.844
27. PT. Trias Sentosa Tbk TRST 5.394 5.598 5.966
25. PT. Sekar Laut Tbk SKLT 5.011 4.942 4.942
INAI 5.371 5.886 6.292
24. PT. Suparma Tbk SPMA 5.323 5.438 5.481
23. PT. Polychem Indonesia Tbk ADMG 4.898 5.371 6.363
22. PT. Mayora Indah Tbk MYOR 8.412 9.283 9.565
21. PT. Holcim Indonesia Tbk SMCB 7.346 7.719 7.685
20. PT. Nusantara Inti Corpora UNIT 4.812 4.934 5.704
19. PT. Multisrada Arah Serana MASA 5.323 5.799 6.215
18. PT. Mustika Ratu Tbk MRAT 5.979 7.444 6.215
17. PT. Malindo Feedmil Tbk MAIN 6.802 8.071 6.888
16. PT. Jaya Pari Steel Tbk JPRS 5.580 6.363 6.184
15. PT. Japfa Comfeed Indonesia Tbk JPFA 7.244 8.055 8.249
INDF 8.175 8.492 8.434
14. PT. Indofood Sukses Makmur
INTP 9.525 9.677 9.744
13. PT. Indocement Tunggal Perkasa Tbk
90
Lampiran vi Hasil Uji Normalitas Sebelum Transformasi One-Sample Kolmogorov-Smirnov Test
Harga Saham N
90 Normal Parameters
a,,b
Mean 4215.4778 Std. Deviation 9543.21682
Most Extreme Differences
Absolute .332 Positive .328 Negative -.332
Kolmogorov-Smirnov Z 3.147 Asymp. Sig. (2-tailed) .000 a. Test distribution is Normal.
b. Calculated from data.
Hasil Uji Normalitas Sebelum Transformasi
Lampiran vi (lanjutan) Hasil Uji Normalitas Sesudah Transformasi Hasil Uji Normalitas Sebelum Transformasi
Lampiran vi (lanjutan) Hasil Uji Normalitas Sesudah Transformasi Lampiran vii Hasil Uji Multikolinearitas Coefficients a
Model Unstandardized Coefficients
Standardized Coefficients T Sig.
Collinearity Statistics
B Std. Error Beta Tolerance VIF 1 (Constant) 7.200 .496 14.504 .000 LN_DER -.570 .380 -.350 -1.500 .137 .187 5.351 LN_DAR 1.103 .624 .413 1.767 .081 .186 5.387 LN_ICR .291 .098 .340 2.959 .004 .769 1.300
a. Dependent Variable: LN_Harga_saham
Lampiran viii Hasil Uji Autokorelasi Model Summary b
Model R R Square Adjusted R Square
Std. Error of the Estimate Durbin- Watson 1 .356
a
.127 .096 1.50377 1.511
a. Predictors: (Constant), LN_ICR, LN_DER, LN_DAR
b. Dependent Variable: LN_Harga_saham
Lampiran ix Hasil Uji Heterokedastisitas Lampiran x Hasil Uji Hipotesis (Uji-t) Coefficients a
Model Unstandardized Coefficients
Standardized Coefficients t Sig.
Collinearity Statistics
B Std. Error Beta Tolerance VIF 1 (Constant) 7.200 .496 14.504 .000 LN_DER -.570 .380 -.350 -1.500 .137 .187 5.351 LN_DAR 1.103 .624 .413 1.767 .081 .186 5.387 LN_ICR .291 .098 .340 2.959 .004 .769 1.300
a. Dependent Variable: LN_Harga_saham
Lampiran xi Hasil Uji Hipotesis (Uji-F) ANOVA b
Model Sum of Squares df Mean Square F Sig.
1 Regression 28.219 3 9.406 4.160 .008
a
Residual 194.473 86 2.261 Total 222.692
89
a. Predictors: (Constant), LN_ICR, LN_DER, LN_DAR
b. Dependent Variable: LN_Harga_saham
Lampiran xii Tabel F (Taraf Signifikansi 0,05)
Df2 Df1
1
2
3
4
5 1 161.448 199.50 215.71 224.58 230.16 2 18.513 19.000 19.164 19.247 19.296 3 10.128 9.552 9.277 9.117 9.013 4 7.709 6.944 6.591 6.388 6.256 5 6.608 5.786 5.409 5.192 5.050 6 5.987 5.143 4.757 4.534 4.387 7 5.591 4.737 4.347 4.120 3.972 8 5.318 4.459 4.066 3.838 3.687 9 5.117 4.256 3.863 3.633 3.482
10 4.965 4.103 3.708 3.478 3.326 11 4.844 3.982 3.587 3.357 3.204 12 4.747 3.885 3.490 3.259 3.106 13 4.667 3.806 3.411 3.179 3.025 14 4.600 3.739 3.344 3.112 2.958
15 4.543 3.682 3.287 3.056 2.901 16 4.494 3.634 3.239 3.007 2.852 17 4.451 3.592 3.197 2.965 2.810 18 4.414 3.555 3.160 2.928 2.773 19 4.381 3.522 3.127 2.895 2.740 20 4.351 3.493 3.098 2.866 2.711 21 4.325 3.467 3.072 2.840 2.685 22 4.301 3.443 3.049 2.817 2.661 23 4.279 3.422 3.028 2.796 2.640 24 4.260 3.403 3.009 2.776 2.621 25 4.242 3.385 2.991 2.759 2.603 26 4.225 3.369 2.975 2.743 2.587 27 4.210 3.354 2.960 2.728 2.572 28 4.196 3.340 2.947 2.714 2.558 29 4.183 3.328 2.934 2.701 2.545 30 4.171 3.316 2.922 2.690 2.534
Lampiran xii (Lanjutan) Tabel F (Taraf Signifikansi 0,05)
Df2 Df1
1
2
3
4
5 31 4.160 3.305 2.911 2.679 2.523 32 4.149 3.295 2.901 2.668 2.512 33 4.139 3.285 2.892 2.659 2.503 34 4.130 3.276 2.883 2.650 2.494 35 4.121 3.267 2.874 2.641 2.485 36 4.113 3.259 2.866 2.634 2.477 37 4.105 3.252 2.859 2.626 2.470 38 4.098 3.245 2.852 2.619 2.463 39 4.091 3.238 2.845 2.612 2.456 40 4.085 3.232 2.839 2.606 2.449 41 4.079 3.226 2.833 2.600 2.443 42 4.073 3.220 2.827 2.594 2.438
43 4.067 3.214 2.822 2.589 2.432 44 4.062 3.209 2.816 2.584 2.427 45 4.057 3.204 2.812 2.579 2.422 46 4.052 3.200 2.807 2.574 2.417 47 4.047 3.195 2.802 2.570 2.413 48 4.043 3.191 2.798 2.565 2.409 49 4.038 3.187 2.794 2.561 2.404 50 4.034 3.183 2.790 2.557 2.400 51 4.030 3.179 2.786 2.553 2.397 52 4.027 3.175 2.783 2.550 2.393 53 4.023 3.172 2.779 2.546 2.389 54 4.020 3.168 2.776 2.543 2.386 55 4.016 3.165 2.773 2.540 2.383 56 4.013 3.162 2.769 2.537 2.380 57 4.010 3.159 2.766 2.534 2.377 58 4.007 3.156 2.764 2.531 2.374 59 4.004 3.153 2.761 2.528 2.371 60 4.001 3.150 2.758 2.525 2.368
Lampiran xiii Tabel t (pada taraf signifikansi 0,05) 1 sisi (0,05) dan 2 sisi (0,025) Signifikansi Signifikansi Df 0,025 0,05 Df 0,025 0,05
1 12.706 6.314 31 2.040 1.696 2 4.303 2.920 32 2.037 1.694 3 3.182 2.353 33 2.035 1.692 4 2.776 2.132 34 2.032 1.691 5 2.571 2.015 35 2.030 1.690 6 2.447 1.943 36 2.028 1.688 7 2.365 1.895 37 2.026 1.687 8 2.306 1.860 38 2.024 1.686 9 2.262 1.833 39 2.023 1.685 10 2.228 1.812 40 2.021 1.684
11 2.201 1.796 41 2.020 1.683 12 2.179 1.782 42 2.018 1.682 13 2.160 1.771 43 2.017 1.681
14 2.145 1.761 44 2.015 1.680 15 2.131 1.753 45 2.014 1.679 16 2.120 1.746 46 2.013 1.679 17 2.110 1.740 47 2.012 1.678 18 2.101 1.734 48 2.011 1.677 19 2.093 1.729 49 2.010 1.677 20 2.086 1.725 50 2.009 1.676 21 2.080 1.721 51 2.008 1.675 22 2.074 1.717 52 2.007 1.675 23 2.069 1.714 53 2.006 1.674 24 2.064 1.711 54 2.005 1.674 25 2.060 1.708 55 2.004 1.673 26 2.056 1.706 56 2.003 1.673 27 2.052 1.703 57 2.002 1.672 28 2.048 1.701 58 2.002 1.672 29 2.045 1.699 59 2.001 1.671 30 2.042 1.697 60 2.000 1.671