Pengaruh Economic Value Added dan Rasio Profitabilitas terhadap harga saham pada Perusahaan Asuransi di Bursa Efek Indonesia tahun 2011-2015
Lampiran 1
Daftar Nama Perusahaan Asuransi Yang Terdaftar Di Bursa Efek Indonesia
Periode 2011-2015 (Sampel)
Kode
Perusahaan Nama Perusahaan
No
1
ABDA
PTAsuransiBinaDanaArtaTbk
2
ASBI
PTAsuransiBintangTbk
3
ASDM
PTAsuransiDayinMitraTbk
4
AHAP
PTAsuransiHartaAmanPratamaTbk
5
ASJT
PTAsuransiJasaTaniaTbk
6
AMAG
PTAsuransiMultiArtaGunaTbk
7
ASRM
PTAsuransiRamayanaTbk
8
LPGI
PTLippoGeneralInsuranceTbk
9
MREI
PTMaskapaiReasuransiIndonesiaTbk
10
PNIN
PTPaninvest Tbk
11
PNLF
PTPaninLifeTbk
Total perusahaan yang terpilih menjadi sampel
Kriteria
Sampel
1
Sampel
Terpilih
2
X
X
10
Universitas Sumatera Utara
Tahun Kode Perusahaan
2011
EVA
ROA
ROE
EPS
Harga
Saham
ABDA
8.906.342.522
0.0792
0.2165 162
ASBI
-1.865.926.267
0.0371
0.0898
52
ASDM
7.500.389.813
0.0658
0.1486
114
500
AHAP
5.224.753.178
0.0995
0.2050
28
180
ASJT
1.857.356.127
0.0749
0.1523
41
420
AMAG
20.939.178.183
0.0907
0.1500
56
147
ASRM
4.528.289.138
0.0609
0.2203
223
820
LPGI
-5.305.386.139
0.0604
0.0637
280
1690
770
275
Lam
pira
n2
Data
Vari
abel
Pene
litia
n
Universitas Sumatera Utara
MREI
21.548.129.627
0.1096
0.2632
160
760
PNIN
5.384.688.239
0.0928
0.1335
168
415
ROA
ROA ROE
ROE EPS
EPS
Harga
Saham
Tahun Kode
KodePerusahaan
Perusahaan
ABDA
2697619
1430237
0.0703
0.0573 0,1855
0.1599
244
160
4250
1830
ASBI
-2453927
-53007517
0.0496
0.0765 0,1545
0.2214
114
151
485
490
19859291
22642088
0.0298
0.0286 0,1660
0.1628
171
149
660
740
AHAP
AHAP
-1436628253
-772626321
0,2149
0.0726
0.0655 0.2001
43
33
168
190
ASJT
ASJT
-1571421909
3742607923
0,0652
0.0279
0.0658 0.1433
19
42
400
460
AMAG
AMAG
29413432
29350583
0.1033 0,1772
0.1090 0.1922
52
51
198
230
ASRM
ASRM
-4887360151
-5005787326
0.0288 0,1840
0.0304 0.2033
157
152
960
980
0.0471 0,0742
0.0294 0.0426
0.0964 0,2555
9415649053
-26717508507
0.1240 0.3003
539
284
268
249
3275
1990
184
195
670
520
ASDM
2013
2012
LPGI
LPGI
MREI
MREI
PNIN
PNIN
Tahun
-19848407750
-160583186
-237699
-429217
Kode Perusahaan
EVA
ABDA
ASBI
0.0622 0.0953
0.0197 0.0277
ROE
-13713349
0.0642
0.141
277
6250
-79811185
0.0223
0.0715
56
950
20033529
0.0278
0.1677
197
1150
AHAP
-1570708176
0.0607
0.1802
44
240
ASJT
-7784328479
0.5571
0.1137
58
294
AMAG
58487891
0.0847
0.1353
53
233
ASRM
1680141719
0.0420
0.2522
272
1285
-5584933441
0.0584
0.0965
853
4800
-7546368113
0.0926
0.2284
299
4240
1349
0.0769
0.1032
229
745
LPGI
MREI
PNIN
EPS
2600
1710
ROA
ASDM
2014
EVA
EVA
Harga
Saham
Universitas Sumatera Utara
Tahun
2015
Kode Perusahaan
EVA
ABDA
-6141972
ASBI
655381
ASDM
-740368
AHAP
-36037738
ASJT
-3360259325
AMAG
11792159
ASRM
441955262
LPGI
42747249477
MREI
-13714579708
PNIN
1772
ROA
ROE
EPS
Harga
Saham
0.0943 0.2197
433
7975
0.0570 0.1754
162
440
0.0302 0.1793
231
1145
0.0173 0.0437
9
220
0.0456 0.1071
30
157
0.0737 0.1284
46
380
0.0449 0.2328
298
2300
0.0348 0.0608
518
5250
0.0941 0.2172
349
6200
0.0549
153
545
0.0714
Universitas Sumatera Utara
Lampiran 3
Statistik Deskriptif Variabel Penelitian
EVA
ROA
EPS
Saham
Statistic
50.0
50.00
50
50
50.0
Statistic
535754191.4
0.07
.1558860
182.16
1471.6
Std. Error
1367459640.2
0.01
.00919772
22.320
262.7
Maximum Statistic
42747249477.0
0.56
.30030
853
7975.0
Minimum Statistic
-26717508507.0
0.02
.02770
9
147.0
Statistic
69464757984.0
0.54
.27260
844
7828.0
Std.
Deviation Statistic
9669399845.7
0.08
.06503773
157.824
1857.9
Variance Statistic
93497293375345300000.0
0.01
.004
24908.382
3451673.9
Skewnes Statistic
Std. Error
s
1.4
5.69
-.103
1.973
2.0
0.3
0.34
.337
.337
0.3
Statistic
8.3
37.08
-.680
5.880
3.2
Kurtosis Std. Error
0.7
0.66
.662
.662
0.7
N
Mean
Range
ROE
Universitas Sumatera Utara
Lampiran 4
Hasil Hausman Test
Correlated Random Effects - Hausman Test
Pool: RIDWAN
Test cross-section random effects
Chi-Sq.
Statistic
Chi-Sq. d.f.
Prob.
10.822620
4
0.0286
Random
Var(Diff.)
Prob.
10.836961
9.345492
0.000000
0.000000
-259.495690 -202.350060
-9234.947 -2293.9815
1.235395
0.000000
309719.93
6140870.2
0.1796
0.1171
0.9182
0.0051
Test Summary
Cross-section random
Cross-section random effects test comparisons:
Variable
EPS?
EVA?
ROA?
ROE?
Fixed
Universitas Sumatera Utara
Lampiran 5
Hasil Fixed Effect Model
Dependent Variable: SAHAM?
Method: Pooled Least Squares
Date: 02/07/17 Time: 00:01
Sample: 2011 2015
Included observations: 5
Cross-sections included: 10
Total pool (balanced) observations: 50
Variable
Coefficient
Std. Error
t-Statistic
Prob.
C
EPS?
EVA?
ROA?
ROE?
Fixed Effects (Cross)
_ABDA--C
_ASBI--C
_ASDM--C
_AHAP--C
_ASJT--C
_AMAG--C
_ASRM--C
_LPGI--C
_MREI--C
_PNIN--C
952.1633
10.83696
6.89E-09
-259.4957
-9234.943
607.3697
1.689475
1.42E-08
2045.323
3917.318
1.567683
6.414394
0.484423
-0.126873
-2.357466
0.1257
0.0000
0.6310
0.8997
0.0240
2207.986
-252.2122
-459.7608
480.2683
106.2748
167.5455
-38.39874
-2293.760
1664.003
-1581.945
Effects Specification
Cross-section fixed (dummy variables)
R-squared
Adjusted R-squared
S.E. of regression
Sum squared resid
Log likelihood
F-statistic
Prob(F-statistic)
0.816634
0.750419
928.1561
31013053
-404.3943
12.33298
0.000000
Mean dependent var
S.D. dependent var
Akaike info criterion
Schwarz criterion
Hannan-Quinn criter.
Durbin-Watson stat
1471.640
1857.868
16.73577
17.27114
16.93964
1.234555
Universitas Sumatera Utara
Lampiran 6
Data Statistik Tabel F
Universitas Sumatera Utara
Lampiran 7
Data Statistik Tabel t (df = 1 –
df
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
0.25
0.50
1.00000
0.81650
0.76489
0.74070
0.72669
0.71756
0.71114
0.70639
0.70272
0.69981
0.69745
0.69548
0.69383
0.69242
0.69120
0.69013
0.68920
0.68836
0.68762
0.68695
0.68635
0.68581
0.68531
0.68485
0.68443
0.68404
0.68368
0.68335
0.68304
0.68276
0.68249
0.68223
0.68200
0.68177
0.68156
0.68137
0.68118
0.68100
0.68083
0.68067
0.10
0.20
3.07768
1.88562
1.63774
1.53321
1.47588
1.43976
1.41492
1.39682
1.38303
1.37218
1.36343
1.35622
1.35017
1.34503
1.34061
1.33676
1.33338
1.33039
1.32773
1.32534
1.32319
1.32124
1.31946
1.31784
1.31635
1.31497
1.31370
1.31253
1.31143
1.31042
1.30946
1.30857
1.30774
1.30695
1.30621
1.30551
1.30485
1.30423
1.30364
1.30308
0.05
0.10
6.31375
2.91999
2.35336
2.13185
2.01505
1.94318
1.89458
1.85955
1.83311
1.81246
1.79588
1.78229
1.77093
1.76131
1.75305
1.74588
1.73961
1.73406
1.72913
1.72472
1.72074
1.71714
1.71387
1.71088
1.70814
1.70562
1.70329
1.70113
1.69913
1.69726
1.69552
1.69389
1.69236
1.69092
1.68957
1.68830
1.68709
1.68595
1.68488
1.68385
0.025
0.050
12.70620
4.30265
3.18245
2.77645
2.57058
2.44691
2.36462
2.30600
2.26216
2.22814
2.20099
2.17881
2.16037
2.14479
2.13145
2.11991
2.10982
2.10092
2.09302
2.08596
2.07961
2.07387
2.06866
2.06390
2.05954
2.05553
2.05183
2.04841
2.04523
2.04227
2.03951
2.03693
2.03452
2.03224
2.03011
2.02809
2.02619
2.02439
2.02269
2.02108
0.01
0.02
31.82052
6.96456
4.54070
3.74695
3.36493
3.14267
2.99795
2.89646
2.82144
2.76377
2.71808
2.68100
2.65031
2.62449
2.60248
2.58349
2.56693
2.55238
2.53948
2.52798
2.51765
2.50832
2.49987
2.49216
2.48511
2.47863
2.47266
2.46714
2.46202
2.45726
2.45282
2.44868
2.44479
2.44115
2.43772
2.43449
2.43145
2.42857
2.42584
2.42326
0.005
0.010
63.65674
9.92484
5.84091
4.60409
4.03214
3.70743
3.49948
3.35539
3.24984
3.16927
3.10581
3.05454
3.01228
2.97684
2.94671
2.92078
2.89823
2.87844
2.86093
2.84534
2.83136
2.81876
2.80734
2.79694
2.78744
2.77871
2.77068
2.76326
2.75639
2.75000
2.74404
2.73848
2.73328
2.72839
2.72381
2.71948
2.71541
2.71156
2.70791
2.70446
0.001
0.002
318.30884
22.32712
10.21453
7.17318
5.89343
5.20763
4.78529
4.50079
4.29681
4.14370
4.02470
3.92963
3.85198
3.78739
3.73283
3.68615
3.64577
3.61048
3.57940
3.55181
3.52715
3.50499
3.48496
3.46678
3.45019
3.43500
3.42103
3.40816
3.39624
3.38518
3.37490
3.36531
3.35634
3.34793
3.34005
3.33262
3.32563
3.31903
3.31279
3.30688
Universitas Sumatera Utara
Universitas Sumatera Utara
Daftar Nama Perusahaan Asuransi Yang Terdaftar Di Bursa Efek Indonesia
Periode 2011-2015 (Sampel)
Kode
Perusahaan Nama Perusahaan
No
1
ABDA
PTAsuransiBinaDanaArtaTbk
2
ASBI
PTAsuransiBintangTbk
3
ASDM
PTAsuransiDayinMitraTbk
4
AHAP
PTAsuransiHartaAmanPratamaTbk
5
ASJT
PTAsuransiJasaTaniaTbk
6
AMAG
PTAsuransiMultiArtaGunaTbk
7
ASRM
PTAsuransiRamayanaTbk
8
LPGI
PTLippoGeneralInsuranceTbk
9
MREI
PTMaskapaiReasuransiIndonesiaTbk
10
PNIN
PTPaninvest Tbk
11
PNLF
PTPaninLifeTbk
Total perusahaan yang terpilih menjadi sampel
Kriteria
Sampel
1
Sampel
Terpilih
2
X
X
10
Universitas Sumatera Utara
Tahun Kode Perusahaan
2011
EVA
ROA
ROE
EPS
Harga
Saham
ABDA
8.906.342.522
0.0792
0.2165 162
ASBI
-1.865.926.267
0.0371
0.0898
52
ASDM
7.500.389.813
0.0658
0.1486
114
500
AHAP
5.224.753.178
0.0995
0.2050
28
180
ASJT
1.857.356.127
0.0749
0.1523
41
420
AMAG
20.939.178.183
0.0907
0.1500
56
147
ASRM
4.528.289.138
0.0609
0.2203
223
820
LPGI
-5.305.386.139
0.0604
0.0637
280
1690
770
275
Lam
pira
n2
Data
Vari
abel
Pene
litia
n
Universitas Sumatera Utara
MREI
21.548.129.627
0.1096
0.2632
160
760
PNIN
5.384.688.239
0.0928
0.1335
168
415
ROA
ROA ROE
ROE EPS
EPS
Harga
Saham
Tahun Kode
KodePerusahaan
Perusahaan
ABDA
2697619
1430237
0.0703
0.0573 0,1855
0.1599
244
160
4250
1830
ASBI
-2453927
-53007517
0.0496
0.0765 0,1545
0.2214
114
151
485
490
19859291
22642088
0.0298
0.0286 0,1660
0.1628
171
149
660
740
AHAP
AHAP
-1436628253
-772626321
0,2149
0.0726
0.0655 0.2001
43
33
168
190
ASJT
ASJT
-1571421909
3742607923
0,0652
0.0279
0.0658 0.1433
19
42
400
460
AMAG
AMAG
29413432
29350583
0.1033 0,1772
0.1090 0.1922
52
51
198
230
ASRM
ASRM
-4887360151
-5005787326
0.0288 0,1840
0.0304 0.2033
157
152
960
980
0.0471 0,0742
0.0294 0.0426
0.0964 0,2555
9415649053
-26717508507
0.1240 0.3003
539
284
268
249
3275
1990
184
195
670
520
ASDM
2013
2012
LPGI
LPGI
MREI
MREI
PNIN
PNIN
Tahun
-19848407750
-160583186
-237699
-429217
Kode Perusahaan
EVA
ABDA
ASBI
0.0622 0.0953
0.0197 0.0277
ROE
-13713349
0.0642
0.141
277
6250
-79811185
0.0223
0.0715
56
950
20033529
0.0278
0.1677
197
1150
AHAP
-1570708176
0.0607
0.1802
44
240
ASJT
-7784328479
0.5571
0.1137
58
294
AMAG
58487891
0.0847
0.1353
53
233
ASRM
1680141719
0.0420
0.2522
272
1285
-5584933441
0.0584
0.0965
853
4800
-7546368113
0.0926
0.2284
299
4240
1349
0.0769
0.1032
229
745
LPGI
MREI
PNIN
EPS
2600
1710
ROA
ASDM
2014
EVA
EVA
Harga
Saham
Universitas Sumatera Utara
Tahun
2015
Kode Perusahaan
EVA
ABDA
-6141972
ASBI
655381
ASDM
-740368
AHAP
-36037738
ASJT
-3360259325
AMAG
11792159
ASRM
441955262
LPGI
42747249477
MREI
-13714579708
PNIN
1772
ROA
ROE
EPS
Harga
Saham
0.0943 0.2197
433
7975
0.0570 0.1754
162
440
0.0302 0.1793
231
1145
0.0173 0.0437
9
220
0.0456 0.1071
30
157
0.0737 0.1284
46
380
0.0449 0.2328
298
2300
0.0348 0.0608
518
5250
0.0941 0.2172
349
6200
0.0549
153
545
0.0714
Universitas Sumatera Utara
Lampiran 3
Statistik Deskriptif Variabel Penelitian
EVA
ROA
EPS
Saham
Statistic
50.0
50.00
50
50
50.0
Statistic
535754191.4
0.07
.1558860
182.16
1471.6
Std. Error
1367459640.2
0.01
.00919772
22.320
262.7
Maximum Statistic
42747249477.0
0.56
.30030
853
7975.0
Minimum Statistic
-26717508507.0
0.02
.02770
9
147.0
Statistic
69464757984.0
0.54
.27260
844
7828.0
Std.
Deviation Statistic
9669399845.7
0.08
.06503773
157.824
1857.9
Variance Statistic
93497293375345300000.0
0.01
.004
24908.382
3451673.9
Skewnes Statistic
Std. Error
s
1.4
5.69
-.103
1.973
2.0
0.3
0.34
.337
.337
0.3
Statistic
8.3
37.08
-.680
5.880
3.2
Kurtosis Std. Error
0.7
0.66
.662
.662
0.7
N
Mean
Range
ROE
Universitas Sumatera Utara
Lampiran 4
Hasil Hausman Test
Correlated Random Effects - Hausman Test
Pool: RIDWAN
Test cross-section random effects
Chi-Sq.
Statistic
Chi-Sq. d.f.
Prob.
10.822620
4
0.0286
Random
Var(Diff.)
Prob.
10.836961
9.345492
0.000000
0.000000
-259.495690 -202.350060
-9234.947 -2293.9815
1.235395
0.000000
309719.93
6140870.2
0.1796
0.1171
0.9182
0.0051
Test Summary
Cross-section random
Cross-section random effects test comparisons:
Variable
EPS?
EVA?
ROA?
ROE?
Fixed
Universitas Sumatera Utara
Lampiran 5
Hasil Fixed Effect Model
Dependent Variable: SAHAM?
Method: Pooled Least Squares
Date: 02/07/17 Time: 00:01
Sample: 2011 2015
Included observations: 5
Cross-sections included: 10
Total pool (balanced) observations: 50
Variable
Coefficient
Std. Error
t-Statistic
Prob.
C
EPS?
EVA?
ROA?
ROE?
Fixed Effects (Cross)
_ABDA--C
_ASBI--C
_ASDM--C
_AHAP--C
_ASJT--C
_AMAG--C
_ASRM--C
_LPGI--C
_MREI--C
_PNIN--C
952.1633
10.83696
6.89E-09
-259.4957
-9234.943
607.3697
1.689475
1.42E-08
2045.323
3917.318
1.567683
6.414394
0.484423
-0.126873
-2.357466
0.1257
0.0000
0.6310
0.8997
0.0240
2207.986
-252.2122
-459.7608
480.2683
106.2748
167.5455
-38.39874
-2293.760
1664.003
-1581.945
Effects Specification
Cross-section fixed (dummy variables)
R-squared
Adjusted R-squared
S.E. of regression
Sum squared resid
Log likelihood
F-statistic
Prob(F-statistic)
0.816634
0.750419
928.1561
31013053
-404.3943
12.33298
0.000000
Mean dependent var
S.D. dependent var
Akaike info criterion
Schwarz criterion
Hannan-Quinn criter.
Durbin-Watson stat
1471.640
1857.868
16.73577
17.27114
16.93964
1.234555
Universitas Sumatera Utara
Lampiran 6
Data Statistik Tabel F
Universitas Sumatera Utara
Lampiran 7
Data Statistik Tabel t (df = 1 –
df
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
0.25
0.50
1.00000
0.81650
0.76489
0.74070
0.72669
0.71756
0.71114
0.70639
0.70272
0.69981
0.69745
0.69548
0.69383
0.69242
0.69120
0.69013
0.68920
0.68836
0.68762
0.68695
0.68635
0.68581
0.68531
0.68485
0.68443
0.68404
0.68368
0.68335
0.68304
0.68276
0.68249
0.68223
0.68200
0.68177
0.68156
0.68137
0.68118
0.68100
0.68083
0.68067
0.10
0.20
3.07768
1.88562
1.63774
1.53321
1.47588
1.43976
1.41492
1.39682
1.38303
1.37218
1.36343
1.35622
1.35017
1.34503
1.34061
1.33676
1.33338
1.33039
1.32773
1.32534
1.32319
1.32124
1.31946
1.31784
1.31635
1.31497
1.31370
1.31253
1.31143
1.31042
1.30946
1.30857
1.30774
1.30695
1.30621
1.30551
1.30485
1.30423
1.30364
1.30308
0.05
0.10
6.31375
2.91999
2.35336
2.13185
2.01505
1.94318
1.89458
1.85955
1.83311
1.81246
1.79588
1.78229
1.77093
1.76131
1.75305
1.74588
1.73961
1.73406
1.72913
1.72472
1.72074
1.71714
1.71387
1.71088
1.70814
1.70562
1.70329
1.70113
1.69913
1.69726
1.69552
1.69389
1.69236
1.69092
1.68957
1.68830
1.68709
1.68595
1.68488
1.68385
0.025
0.050
12.70620
4.30265
3.18245
2.77645
2.57058
2.44691
2.36462
2.30600
2.26216
2.22814
2.20099
2.17881
2.16037
2.14479
2.13145
2.11991
2.10982
2.10092
2.09302
2.08596
2.07961
2.07387
2.06866
2.06390
2.05954
2.05553
2.05183
2.04841
2.04523
2.04227
2.03951
2.03693
2.03452
2.03224
2.03011
2.02809
2.02619
2.02439
2.02269
2.02108
0.01
0.02
31.82052
6.96456
4.54070
3.74695
3.36493
3.14267
2.99795
2.89646
2.82144
2.76377
2.71808
2.68100
2.65031
2.62449
2.60248
2.58349
2.56693
2.55238
2.53948
2.52798
2.51765
2.50832
2.49987
2.49216
2.48511
2.47863
2.47266
2.46714
2.46202
2.45726
2.45282
2.44868
2.44479
2.44115
2.43772
2.43449
2.43145
2.42857
2.42584
2.42326
0.005
0.010
63.65674
9.92484
5.84091
4.60409
4.03214
3.70743
3.49948
3.35539
3.24984
3.16927
3.10581
3.05454
3.01228
2.97684
2.94671
2.92078
2.89823
2.87844
2.86093
2.84534
2.83136
2.81876
2.80734
2.79694
2.78744
2.77871
2.77068
2.76326
2.75639
2.75000
2.74404
2.73848
2.73328
2.72839
2.72381
2.71948
2.71541
2.71156
2.70791
2.70446
0.001
0.002
318.30884
22.32712
10.21453
7.17318
5.89343
5.20763
4.78529
4.50079
4.29681
4.14370
4.02470
3.92963
3.85198
3.78739
3.73283
3.68615
3.64577
3.61048
3.57940
3.55181
3.52715
3.50499
3.48496
3.46678
3.45019
3.43500
3.42103
3.40816
3.39624
3.38518
3.37490
3.36531
3.35634
3.34793
3.34005
3.33262
3.32563
3.31903
3.31279
3.30688
Universitas Sumatera Utara
Universitas Sumatera Utara