Analisis Pengaruh Rasio Keuangan dan Ukuran Perusahaan Terhadap Harga Saham Pada Perusahaan Properti dan Real Estate Yang Terdaftar Di Bursa Efek Indonesia
Lampiran 1
Populasi, Kriteria Perusahaan, dan Sampel
No
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2
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4
5
6
7
8
9
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11
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18
19
20
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
Kode
Nama Perusahaan
APLN
ASRI
ELTY
BAPA
BEST
BIPP
BKDP
BCIP
BSDE
CTRA
CTRP
CKRA
CTRS
COWL
SCBD
DART
DUTI
FMII
KPIG
GAMA
KPIG
Agung Podomoro Land Tbk
Alam Sutera Realty Tbk
Bakrieland Development Tbk
Bekasi Asri Pemula Tbk
Bekasi Fajar Industrial Estate
Bhuwanatala Indah Permai Tbk
Bukit Darmo Property Tbk
Bumi Citra Permai Tbk
Bumi Serpong Damai Tbk
Ciputra Development Tbk
Ciputra Property Tbk
Ciputra Kebun Raya Tbk
Ciputra Surya Tbk
Cowell Development Tbk
Danayasa Arthatama Tbk
Duta Anggada Realty Tbk
Duta Pertiwi Tbk
Fortune Mate Indonesia Tbk
Global Land and development Tbk
Gading Development Tbk
MNC Land Tbk
Gowa Makassar Tourism Development
Tbk
Greenwood Sejahtera Tbk
Indonesia Prima Property Tbk
Intiland Development Tbk
Jakarta International Hotel & Dev
Jaya Real Property Tbk
Kawasan Industri Jababeka Tbk
Laguna Cipta Griya Tbk
Lamicitra Nusantara Tbk
Lippo Cikarang Tbk
Lippo Karawaci Tbk
Megapolitan Developments Tbk
Metro Realty Tbk
Metropolitan Kentjana Tbk
Metropolitan Land Tbk
Modernland Realty Tbk
GMTD
GWSA
OMRE
DILD
JIHD
JRPT
KIJA
LOGI
LAMI
LPCK
LPKR
EMDE
MTSM
MKPI
MTLA
MDLN
Kriteria
1
2
3
√
√
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×
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×
×
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×
√
Sampe
l
1
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5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
80
Universitas Sumatera Utara
39
40
41
42
43
44
45
46
47
48
49
50
PTRA
NIRO
PWON
PWSI
GPRX
PLIN
RBMS
RDTX
BKSL
SMRA
SIIP
SMDM
New Century Development Tbk
Nirvana Development Tbk
Pakuwon Jati Tbk
Panca Wiratama Sakti Tbk
Perdana Gapuraprima Tbk
Plaza Indonesia Realty Tbk
Ristia Bintang Mahkotasejati Tbk
Roda Vivatex Tbk
Sentul City Tbk
Summarecon Agung Tbk
Suryainti Permata Tbk
Suryamas Dutamakmur Tbk
×
×
√
√
√
×
√
√
√
√
√
√
×
√
√
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√
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√
√
√
√
√
√
×
×
√
×
√
×
√
√
√
√
×
×
24
25
26
27
28
29
Sumber : www.idx.co.id
Sumber : Data Diolah Peneliti, 2013
81
Universitas Sumatera Utara
Lampiran 2
Data Variabel Penelitian (Sebelum Transformasi)
Tahun 2010
No
Kode
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
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKI
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
DAR
0.45
0.53
0.45
0.20
0.37
0.23
0.07
0.35
0.51
0.27
0.71
0.32
0.64
0.47
0.21
0.43
0.51
0.50
0.62
0.66
0.49
0.29
0.45
0.60
0.49
0.07
0.16
0.14
0.65
ROE
NPM
EPS
0.0995
0.1495
0.1939
0.1503
0.1080
0.0983
0.0580
0.0805
0.1029
0.1741
0.0759
0.1425
0.2567
0.3196
0.1199
0.1823
0.2011
0.0556
0.1767
0.1512
0.0933
0.2569
0.0467
0.2698
0.0672
0.0115
0.2660
0.0252
0.1607
0.1248
0.3796
0.2327
0.2214
0.1592
0.1524
0.4368
0.1469
0.0836
0.0688
0.0771
0.2651
0.2327
0.2790
0.4159
0.0454
0.3425
0.1040
0.1447
0.1614
0.1681
0.2701
0.1477
0.2228
0.1137
0.0297
0.0553
0.1476
0.1377
11.80
16.26
19.51
15.54
22.54
17.01
25.26
44.05
11.12
23.02
9.40
144.35
271.55
60.79
33.81
7.32
96.34
4.51
16.59
93.83
356.48
277.21
12.63
27.27
10.97
1.43
635.79
2.29
33.97
LnAktiva
Harga
Saham
8.9312
8.4311
4.9126
5.2574
9.3669
9.1461
8.2487
7.8867
5.5872
8.1536
8.1780
8.4601
5.8833
6.6437
8.4335
8.4713
8.1004
8.1125
6.4052
7.4205
9.6899
7.5054
7.6172
8.2781
7.0774
4.7621
6.7475
8.4792
8.7225
385
295
250
245
900
350
440
690
122
500
186
2100
165
170
425
790
1300
120
194
395
680
2800
245
900
134
81
2100
109
1090
82
Universitas Sumatera Utara
Tahun 2011
No
Kode
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
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKI
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
DAR
ROE
NPM
EPS
0.53
0.54
0.45
0.23
0.35
0.34
0.07
0.51
0.58
0.25
0.45
0.31
0.64
0.32
0.33
0.24
0.53
0.37
0.52
0.60
0.48
0.30
0.51
0.59
0.47
0.08
0.23
0.13
0.69
0.1766
0.2408
0.0940
0.0296
0.1417
0.0809
0.0565
0.1229
0.2587
0.0490
0.0444
0.1373
0.3373
0.2254
0.0523
0.0375
0.2092
0.1037
0.2270
0.3671
0.1047
0.2689
0.0979
0.1980
0.0866
0.1050
0.1611
0.0341
0.2143
0.1791
0.4364
0.1926
0.0431
0.3607
0.2268
0.3832
0.2477
0.1839
0.1602
0.1459
0.3782
0.2594
0.2549
0.1570
0.0732
0.3882
0.2840
0.3434
0.2855
0.1384
0.3910
0.1824
0.2561
0.1152
1.0148
0.3850
0.2982
0.1648
33.41
33.74
9.08
1.67
57.89
32.57
27.41
100.7
44.12
21.90
21.35
228.47
483.41
52.06
14.22
30.00
126.07
16.46
47.73
370.23
407.71
340.65
30.11
31.44
13.98
48.84
423.82
4.35
56.55
LnAktiva
9.2860
8.7008
4.9972
5.4722
9.4561
9.3522
8.3698
8.1687
5.9558
8.1542
8.3197
8.5541
6.1882
6.6039
8.6468
8.3806
8.3148
8.6299
6.3835
7.6216
9.8124
7.6680
7.7873
8.6560
7.1196
4.9126
6.9865
8.5735
8.9994
Harga
Saham
350
460
148
620
980
540
490
870
235
500
435
1800
660
265
255
620
2200
190
225
1790
660
2900
240
750
156
86
2700
265
1240
83
Universitas Sumatera Utara
Tahun 2012
No
Kode
DAR
ROE
NPM
EPS
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
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKR
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
0.59
0.57
0.45
0.39
0.37
0.31
0.31
0.47
0.56
0.26
0.34
0.21
0.73
0.29
O.37
0.25
0.57
0.44
0.49
0.56
0.51
0.31
0.39
0.59
0.49
0.08
0.22
0.19
0.71
0.1506
0.2841
0.0329
0.0657
0.1061
0.0818
0.0500
0.1368
0.2657
0.1657
0.0609
0.0994
0.2415
0.2254
0.0529
0.0251
0.1581
0.0918
0.1105
0.2920
0.0982
0.2062
0.0927
0.2368
0.0628
0.0144
0.1373
0.0432
0.2029
0.2041
0.4971
0.1289
0.1485
0.3448
0.2397
0.3509
0.2857
0.2084
0.0315
0.1987
0.3733
0.2666
0.1078
0.1884
0.0762
0.3948
0.2715
0.2669
0.3845
0.4840
0.4277
0.2321
0.3664
0.1224
0.4811
0.4393
0.3320
0.2076
35.00
61.89
3.14
6.69
51.85
35.36
25.14
126.94
157.97
10.96
43.69
232.24
424.92
14.00
15.49
23.67
104.42
14.18
25.35
411.57
473.41
285.00
26.47
48.97
6.40
45.76
408.54
5.77
66.44
LnAktiva
9.6287
9.3007
5.0689
5.8348
9.7265
9.6173
8.6884
8.3957
7.4832
8.1772
8.3647
5.8721
6.8035
6.6515
8.7147
8.4017
8.5167
8.8647
6.4216
7.9487
10.1213
7.8371
8.4320
8.9314
7.1777
5.0304
7.0967
8.7248
9.2943
Harga
Saham
370
600
139
250
1110
800
600
2250
143
830
710
3050
660
335
335
700
3100
200
215
3225
1000
3900
610
225
100
143
3500
189
1900
84
Universitas Sumatera Utara
Lampiran 3
Data Variabel Penelitian (Setelah Transformasi)
Tahun 2010
No
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
Kode
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKI
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
DAR
0.45
0.53
0.45
0.20
0.37
0.23
0.07
0.35
0.51
0.27
0.71
0.32
0.64
0.47
0.21
0.43
0.51
0.50
0.62
0.66
0.49
0.29
0.45
0.60
0.49
0.07
0.16
0.14
0.65
ROE
NPM
EPS
LnAktiva
0.0995
0.1495
0.1939
0.1503
0.1080
0.0983
0.0580
0.0805
0.1029
0.1741
0.0759
0.1425
0.2567
0.3196
0.1199
0.1823
0.2011
0.0556
0.1767
0.1512
0.0933
0.2569
0.0467
0.2698
0.0672
0.0115
0.2660
0.0252
0.1607
0.1248
0.3796
0.2327
0.2214
0.1592
0.1524
0.4368
0.1469
0.0836
0.0688
0.0771
0.2651
0.2327
0.2790
0.4159
0.0454
0.3425
0.1040
0.1447
0.1614
0.1681
0.2701
0.1477
0.2228
0.1137
0.0297
0.0553
0.1476
0.1377
11.80
16.26
19.51
15.54
22.54
17.01
25.26
44.05
11.12
23.02
9.40
144.35
271.55
60.79
33.81
7.32
96.34
4.51
16.59
93.83
356.48
277.21
12.63
27.27
10.97
1.43
635.79
2.29
33.97
8.9312
8.4311
4.9126
5.2574
9.3669
9.1461
8.2487
7.8867
5.5872
8.1536
8.1780
8.4601
5.8833
6.6437
8.4335
8.4713
8.1004
8.1125
6.4052
7.4205
9.6899
7.5054
7.6172
8.2781
7.0774
4.7621
6.7475
8.4792
8.7225
Harga
Saham
5.9532
5.6870
5.5215
5.5013
6.8024
5.8579
6.0868
6.5367
4.8040
6.2146
5.2257
7.6497
5.1059
5.1358
6.0521
6.6720
7.1701
4.7875
5.2679
5.9789
6.5221
7.9374
5.5013
6.8024
4.8978
4.3944
7.6497
4.6913
6.9939
85
Universitas Sumatera Utara
Tahun 2011
No
Kode
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
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKI
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
DAR
ROE
NPM
EPS
0.53
0.54
0.45
0.23
0.35
0.34
0.07
0.51
0.58
0.25
0.45
0.31
0.64
0.32
0.33
0.24
0.53
0.37
0.52
0.60
0.48
0.30
0.51
0.59
0.47
0.08
0.23
0.13
0.69
0.1766
0.2408
0.0940
0.0296
0.1417
0.0809
0.0565
0.1229
0.2587
0.0490
0.0444
0.1373
0.3373
0.2254
0.0523
0.0375
0.2092
0.1037
0.2270
0.3671
0.1047
0.2689
0.0979
0.1980
0.0866
0.1050
0.1611
0.0341
0.2143
0.1791
0.4364
0.1926
0.0431
0.3607
0.2268
0.3832
0.2477
0.1839
0.1602
0.1459
0.3782
0.2594
0.2549
0.1570
0.0732
0.3882
0.2840
0.3434
0.2855
0.1384
0.3910
0.1824
0.2561
0.1152
1.0148
0.3850
0.2982
0.1648
33.41
33.74
9.08
1.67
57.89
32.57
27.41
100.7
44.12
21.90
21.35
228.47
483.41
52.06
14.22
30.00
126.07
16.46
47.73
370.23
407.71
340.65
30.11
31.44
13.98
48.84
423.82
4.35
56.55
LnAktiva
9.2860
8.7008
4.9972
5.4722
9.4561
9.3522
8.3698
8.1687
5.9558
8.1542
8.3197
8.5541
6.1882
6.6039
8.6468
8.3806
8.3148
8.6299
6.3835
7.6216
9.8124
7.6680
7.7873
8.6560
7.1196
4.9126
6.9865
8.5735
8.9994
Harga
Saham
5.8579
6.1312
4.9972
6.4297
6.8876
6.2916
6.1944
6.7685
5.4596
6.2146
6.0753
7.4955
6.4922
5.5797
5.5413
6.4297
7.6962
5.2470
5.4161
7.4900
6.4922
7.9725
5.4806
6.6201
5.0499
4.4543
7.9010
5.5797
7.1229
86
Universitas Sumatera Utara
Tahun 2012
No
Kode
DAR
ROE
NPM
EPS
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
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKR
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
0.59
0.57
0.45
0.39
0.37
0.31
0.31
0.47
0.56
0.26
0.34
0.21
0.73
0.29
O.37
0.25
0.57
0.44
0.49
0.56
0.51
0.31
0.39
0.59
0.49
0.08
0.22
0.19
0.71
0.1506
0.2841
0.0329
0.0657
0.1061
0.0818
0.0500
0.1368
0.2657
0.1657
0.0609
0.0994
0.2415
0.2254
0.0529
0.0251
0.1581
0.0918
0.1105
0.2920
0.0982
0.2062
0.0927
0.2368
0.0628
0.0144
0.1373
0.0432
0.2029
0.2041
0.4971
0.1289
0.1485
0.3448
0.2397
0.3509
0.2857
0.2084
0.0315
0.1987
0.3733
0.2666
0.1078
0.1884
0.0762
0.3948
0.2715
0.2669
0.3845
0.4840
0.4277
0.2321
0.3664
0.1224
0.4811
0.4393
0.3320
0.2076
35.00
61.89
3.14
6.69
51.85
35.36
25.14
126.94
157.97
10.96
43.69
232.24
424.92
14.00
15.49
23.67
104.42
14.18
25.35
411.57
473.41
285.00
26.47
48.97
6.40
45.76
408.54
5.77
66.44
LnAktiva
9.6287
9.3007
5.0689
5.8348
9.7265
9.6173
8.6884
8.3957
7.4832
8.1772
8.3647
5.8721
6.8035
6.6515
8.7147
8.4017
8.5167
8.8647
6.4216
7.9487
10.1213
7.8371
8.4320
8.9314
7.1777
5.0304
7.0967
8.7248
9.2943
Harga
Saham
5.9135
6.3969
4.9345
5.5215
7.0121
6.6846
6.3969
7.7187
4.9628
6.7214
6.5653
8.0229
6.4922
5.8141
5.8141
6.5511
8.0392
5.2983
5.3706
8.0787
6.9078
8.2687
6.4135
5.4161
4.6052
4.9628
8.1605
5.2417
7.5496
87
Universitas Sumatera Utara
Lampiran 4
Statistik Deskriptif
Descriptive Statistics
N
Minimum
Maximum
Mean
Std. Deviation
DAR
87
.0700
.7300
.408046
.1684943
ROE
87
.0115
.3671
.139630
.0843721
NPM
87
.0297
1.0148
.245482
.1458844
EPS
87
1.4300
635.7900
98.894368
143.4262842
UKURAN PERUSAHAAN
87
4.7621
10.1213
7.794341
1.3493064
HARGA SAHAM
87
4.3944
8.2687
6.213857
1.0023033
Valid N (listwise)
87
88
Universitas Sumatera Utara
Lampiran 5
Hasil Uji Normalitas
One-Sample Kolmogorov-Smirnov Test Sebelum Transformasi
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
Normal Parameters
87
a,b
Mean
.0000000
Std. Deviation
Most Extreme Differences
684.50011270
Absolute
.158
Positive
.158
Negative
-.076
Kolmogorov-Smirnov Z
1.477
Asymp. Sig. (2-tailed)
.025
a. Test distribution is Normal.
b. Calculated from data.
One-Sample Kolmogorov-Smirnov Test Sesudah Transformasi
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
Normal Parameters
87
a,b
Mean
Std. Deviation
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
.0000000
684.50011270
Absolute
.158
Positive
.158
Negative
-.076
1.477
.025
a. Test distribution is Normal.
b. Calculated from data.
89
Universitas Sumatera Utara
Histogram Sebelum Transformasi
Histogram Sesudah Transformasi
90
Universitas Sumatera Utara
P-P Plot Sebelum Transformasi
P-P Plot Sesudah Transformasi
91
Universitas Sumatera Utara
Lampiran 6
Uji Multikolineritas
Coefficientsa
Model
Unstandardized
Collinearity
Coefficients
Statistics
B
1
(Constant)
Std. Error
Tolerance
VIF
3.561
.508
DAR
-1.237
.582
.646
1.547
ROE
3.102
1.278
.535
1.871
NPM
.048
.582
.863
1.159
EPS
.003
.001
.746
1.341
UKURAN
.307
.060
.942
1.061
PERUSAHAAN
a. Dependent Variable: HARGA SAHAM
92
Universitas Sumatera Utara
Lampiran 7
Hasil Uji Heteroskesdatisitas
93
Universitas Sumatera Utara
Lampiran 8
Hasil Uji Autokorelasi Sebelum Transformasi
Model Summaryb
Model
R
.706a
1
a.
R square
Adjusted R
Square
.499
Std. Error of
the Estimate
.468
Durbinwatson
.7312235
2.345
Predictors: (Constant), Ukurab Perusahaan, NPM, ROE, EPS, DAR
b.
Dependent Variable: Harga Saham
Hasil Uji Autokorelasi Sesudah Transformasi
Model
1
a.
b.
R
R square
Adjusted R
Square
Std. Error of
the Estimate
Durbinwatson
.750a
.562
.529
.6919703
Predictors: (Constant), Lag_Y, NPM, ROE, UKURAN PERUSAHAAN, EPS, DAR
Dependent Variable: HARGA SAHAM
1.885
94
Universitas Sumatera Utara
Lampiran 9
Hasil Uji Hipotesis
Uji t
Coefficientsa
Model
Unstandardized
Standardized
Coefficients
Coefficients
B
1
a.
(Constant)
Std. Error
3.561
.508
DAR
-1.237
.582
ROE
3.102
NPM
Beta
T
Sig.
7.014
.000
-.208
-2.126
.037
1.278
.261
2.427
.017
.048
.582
.007
.083
.934
EPS
.003
.001
.462
5.073
.000
UKURAN PERUSAHAAN
.307
.060
.413
5.101
.000
Dependent Variable: HARGA SAHAM
Uji F
ANOVAb
Model
Sum of Squares
1
Df
Mean Square
Regression
43.087
5
8.617
Residual
43.310
81
.535
Total
86.397
86
F
Sig.
16.117
.000a
a. Predictors: (Constant), UKURAN PERUSAHAAN, NPM, ROE, EPS, DAR
b. Dependent Variable: HARGA SAHAM
Hasil Uji Adjusted R2
Model Summaryb
Model
1
R
Adjusted R
Square
R square
.706a
.499
a.
Predictors: (Constant), Ln Aktiva, NPM, ROE, EPS, DAR
b.
Dependent Variable: Harga Saham
Std. Error of the
Estimate
.468
.7312235
95
Universitas Sumatera Utara
a.
Predictors: (Constant), Ln Aktiva, NPM, ROE, EPS, DAR
b.
Dependent Variable: Harga Saham
96
Universitas Sumatera Utara
Populasi, Kriteria Perusahaan, dan Sampel
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
Kode
Nama Perusahaan
APLN
ASRI
ELTY
BAPA
BEST
BIPP
BKDP
BCIP
BSDE
CTRA
CTRP
CKRA
CTRS
COWL
SCBD
DART
DUTI
FMII
KPIG
GAMA
KPIG
Agung Podomoro Land Tbk
Alam Sutera Realty Tbk
Bakrieland Development Tbk
Bekasi Asri Pemula Tbk
Bekasi Fajar Industrial Estate
Bhuwanatala Indah Permai Tbk
Bukit Darmo Property Tbk
Bumi Citra Permai Tbk
Bumi Serpong Damai Tbk
Ciputra Development Tbk
Ciputra Property Tbk
Ciputra Kebun Raya Tbk
Ciputra Surya Tbk
Cowell Development Tbk
Danayasa Arthatama Tbk
Duta Anggada Realty Tbk
Duta Pertiwi Tbk
Fortune Mate Indonesia Tbk
Global Land and development Tbk
Gading Development Tbk
MNC Land Tbk
Gowa Makassar Tourism Development
Tbk
Greenwood Sejahtera Tbk
Indonesia Prima Property Tbk
Intiland Development Tbk
Jakarta International Hotel & Dev
Jaya Real Property Tbk
Kawasan Industri Jababeka Tbk
Laguna Cipta Griya Tbk
Lamicitra Nusantara Tbk
Lippo Cikarang Tbk
Lippo Karawaci Tbk
Megapolitan Developments Tbk
Metro Realty Tbk
Metropolitan Kentjana Tbk
Metropolitan Land Tbk
Modernland Realty Tbk
GMTD
GWSA
OMRE
DILD
JIHD
JRPT
KIJA
LOGI
LAMI
LPCK
LPKR
EMDE
MTSM
MKPI
MTLA
MDLN
Kriteria
1
2
3
√
√
√
√
×
√
√
√
√
√
√
×
√
√
√
√
√
√
×
×
×
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
×
√
√
√
×
√
√
×
×
√
√
√
√
×
√
√
√
√
√
×
×
×
×
√
×
√
√
√
√
√
√
√
√
√
×
×
√
×
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
×
√
√
√
×
×
√
×
√
Sampe
l
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
80
Universitas Sumatera Utara
39
40
41
42
43
44
45
46
47
48
49
50
PTRA
NIRO
PWON
PWSI
GPRX
PLIN
RBMS
RDTX
BKSL
SMRA
SIIP
SMDM
New Century Development Tbk
Nirvana Development Tbk
Pakuwon Jati Tbk
Panca Wiratama Sakti Tbk
Perdana Gapuraprima Tbk
Plaza Indonesia Realty Tbk
Ristia Bintang Mahkotasejati Tbk
Roda Vivatex Tbk
Sentul City Tbk
Summarecon Agung Tbk
Suryainti Permata Tbk
Suryamas Dutamakmur Tbk
×
×
√
√
√
×
√
√
√
√
√
√
×
√
√
√
√
√
√
√
√
√
√
√
×
×
√
×
√
×
√
√
√
√
×
×
24
25
26
27
28
29
Sumber : www.idx.co.id
Sumber : Data Diolah Peneliti, 2013
81
Universitas Sumatera Utara
Lampiran 2
Data Variabel Penelitian (Sebelum Transformasi)
Tahun 2010
No
Kode
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
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKI
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
DAR
0.45
0.53
0.45
0.20
0.37
0.23
0.07
0.35
0.51
0.27
0.71
0.32
0.64
0.47
0.21
0.43
0.51
0.50
0.62
0.66
0.49
0.29
0.45
0.60
0.49
0.07
0.16
0.14
0.65
ROE
NPM
EPS
0.0995
0.1495
0.1939
0.1503
0.1080
0.0983
0.0580
0.0805
0.1029
0.1741
0.0759
0.1425
0.2567
0.3196
0.1199
0.1823
0.2011
0.0556
0.1767
0.1512
0.0933
0.2569
0.0467
0.2698
0.0672
0.0115
0.2660
0.0252
0.1607
0.1248
0.3796
0.2327
0.2214
0.1592
0.1524
0.4368
0.1469
0.0836
0.0688
0.0771
0.2651
0.2327
0.2790
0.4159
0.0454
0.3425
0.1040
0.1447
0.1614
0.1681
0.2701
0.1477
0.2228
0.1137
0.0297
0.0553
0.1476
0.1377
11.80
16.26
19.51
15.54
22.54
17.01
25.26
44.05
11.12
23.02
9.40
144.35
271.55
60.79
33.81
7.32
96.34
4.51
16.59
93.83
356.48
277.21
12.63
27.27
10.97
1.43
635.79
2.29
33.97
LnAktiva
Harga
Saham
8.9312
8.4311
4.9126
5.2574
9.3669
9.1461
8.2487
7.8867
5.5872
8.1536
8.1780
8.4601
5.8833
6.6437
8.4335
8.4713
8.1004
8.1125
6.4052
7.4205
9.6899
7.5054
7.6172
8.2781
7.0774
4.7621
6.7475
8.4792
8.7225
385
295
250
245
900
350
440
690
122
500
186
2100
165
170
425
790
1300
120
194
395
680
2800
245
900
134
81
2100
109
1090
82
Universitas Sumatera Utara
Tahun 2011
No
Kode
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
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKI
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
DAR
ROE
NPM
EPS
0.53
0.54
0.45
0.23
0.35
0.34
0.07
0.51
0.58
0.25
0.45
0.31
0.64
0.32
0.33
0.24
0.53
0.37
0.52
0.60
0.48
0.30
0.51
0.59
0.47
0.08
0.23
0.13
0.69
0.1766
0.2408
0.0940
0.0296
0.1417
0.0809
0.0565
0.1229
0.2587
0.0490
0.0444
0.1373
0.3373
0.2254
0.0523
0.0375
0.2092
0.1037
0.2270
0.3671
0.1047
0.2689
0.0979
0.1980
0.0866
0.1050
0.1611
0.0341
0.2143
0.1791
0.4364
0.1926
0.0431
0.3607
0.2268
0.3832
0.2477
0.1839
0.1602
0.1459
0.3782
0.2594
0.2549
0.1570
0.0732
0.3882
0.2840
0.3434
0.2855
0.1384
0.3910
0.1824
0.2561
0.1152
1.0148
0.3850
0.2982
0.1648
33.41
33.74
9.08
1.67
57.89
32.57
27.41
100.7
44.12
21.90
21.35
228.47
483.41
52.06
14.22
30.00
126.07
16.46
47.73
370.23
407.71
340.65
30.11
31.44
13.98
48.84
423.82
4.35
56.55
LnAktiva
9.2860
8.7008
4.9972
5.4722
9.4561
9.3522
8.3698
8.1687
5.9558
8.1542
8.3197
8.5541
6.1882
6.6039
8.6468
8.3806
8.3148
8.6299
6.3835
7.6216
9.8124
7.6680
7.7873
8.6560
7.1196
4.9126
6.9865
8.5735
8.9994
Harga
Saham
350
460
148
620
980
540
490
870
235
500
435
1800
660
265
255
620
2200
190
225
1790
660
2900
240
750
156
86
2700
265
1240
83
Universitas Sumatera Utara
Tahun 2012
No
Kode
DAR
ROE
NPM
EPS
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
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKR
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
0.59
0.57
0.45
0.39
0.37
0.31
0.31
0.47
0.56
0.26
0.34
0.21
0.73
0.29
O.37
0.25
0.57
0.44
0.49
0.56
0.51
0.31
0.39
0.59
0.49
0.08
0.22
0.19
0.71
0.1506
0.2841
0.0329
0.0657
0.1061
0.0818
0.0500
0.1368
0.2657
0.1657
0.0609
0.0994
0.2415
0.2254
0.0529
0.0251
0.1581
0.0918
0.1105
0.2920
0.0982
0.2062
0.0927
0.2368
0.0628
0.0144
0.1373
0.0432
0.2029
0.2041
0.4971
0.1289
0.1485
0.3448
0.2397
0.3509
0.2857
0.2084
0.0315
0.1987
0.3733
0.2666
0.1078
0.1884
0.0762
0.3948
0.2715
0.2669
0.3845
0.4840
0.4277
0.2321
0.3664
0.1224
0.4811
0.4393
0.3320
0.2076
35.00
61.89
3.14
6.69
51.85
35.36
25.14
126.94
157.97
10.96
43.69
232.24
424.92
14.00
15.49
23.67
104.42
14.18
25.35
411.57
473.41
285.00
26.47
48.97
6.40
45.76
408.54
5.77
66.44
LnAktiva
9.6287
9.3007
5.0689
5.8348
9.7265
9.6173
8.6884
8.3957
7.4832
8.1772
8.3647
5.8721
6.8035
6.6515
8.7147
8.4017
8.5167
8.8647
6.4216
7.9487
10.1213
7.8371
8.4320
8.9314
7.1777
5.0304
7.0967
8.7248
9.2943
Harga
Saham
370
600
139
250
1110
800
600
2250
143
830
710
3050
660
335
335
700
3100
200
215
3225
1000
3900
610
225
100
143
3500
189
1900
84
Universitas Sumatera Utara
Lampiran 3
Data Variabel Penelitian (Setelah Transformasi)
Tahun 2010
No
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
Kode
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKI
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
DAR
0.45
0.53
0.45
0.20
0.37
0.23
0.07
0.35
0.51
0.27
0.71
0.32
0.64
0.47
0.21
0.43
0.51
0.50
0.62
0.66
0.49
0.29
0.45
0.60
0.49
0.07
0.16
0.14
0.65
ROE
NPM
EPS
LnAktiva
0.0995
0.1495
0.1939
0.1503
0.1080
0.0983
0.0580
0.0805
0.1029
0.1741
0.0759
0.1425
0.2567
0.3196
0.1199
0.1823
0.2011
0.0556
0.1767
0.1512
0.0933
0.2569
0.0467
0.2698
0.0672
0.0115
0.2660
0.0252
0.1607
0.1248
0.3796
0.2327
0.2214
0.1592
0.1524
0.4368
0.1469
0.0836
0.0688
0.0771
0.2651
0.2327
0.2790
0.4159
0.0454
0.3425
0.1040
0.1447
0.1614
0.1681
0.2701
0.1477
0.2228
0.1137
0.0297
0.0553
0.1476
0.1377
11.80
16.26
19.51
15.54
22.54
17.01
25.26
44.05
11.12
23.02
9.40
144.35
271.55
60.79
33.81
7.32
96.34
4.51
16.59
93.83
356.48
277.21
12.63
27.27
10.97
1.43
635.79
2.29
33.97
8.9312
8.4311
4.9126
5.2574
9.3669
9.1461
8.2487
7.8867
5.5872
8.1536
8.1780
8.4601
5.8833
6.6437
8.4335
8.4713
8.1004
8.1125
6.4052
7.4205
9.6899
7.5054
7.6172
8.2781
7.0774
4.7621
6.7475
8.4792
8.7225
Harga
Saham
5.9532
5.6870
5.5215
5.5013
6.8024
5.8579
6.0868
6.5367
4.8040
6.2146
5.2257
7.6497
5.1059
5.1358
6.0521
6.6720
7.1701
4.7875
5.2679
5.9789
6.5221
7.9374
5.5013
6.8024
4.8978
4.3944
7.6497
4.6913
6.9939
85
Universitas Sumatera Utara
Tahun 2011
No
Kode
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
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKI
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
DAR
ROE
NPM
EPS
0.53
0.54
0.45
0.23
0.35
0.34
0.07
0.51
0.58
0.25
0.45
0.31
0.64
0.32
0.33
0.24
0.53
0.37
0.52
0.60
0.48
0.30
0.51
0.59
0.47
0.08
0.23
0.13
0.69
0.1766
0.2408
0.0940
0.0296
0.1417
0.0809
0.0565
0.1229
0.2587
0.0490
0.0444
0.1373
0.3373
0.2254
0.0523
0.0375
0.2092
0.1037
0.2270
0.3671
0.1047
0.2689
0.0979
0.1980
0.0866
0.1050
0.1611
0.0341
0.2143
0.1791
0.4364
0.1926
0.0431
0.3607
0.2268
0.3832
0.2477
0.1839
0.1602
0.1459
0.3782
0.2594
0.2549
0.1570
0.0732
0.3882
0.2840
0.3434
0.2855
0.1384
0.3910
0.1824
0.2561
0.1152
1.0148
0.3850
0.2982
0.1648
33.41
33.74
9.08
1.67
57.89
32.57
27.41
100.7
44.12
21.90
21.35
228.47
483.41
52.06
14.22
30.00
126.07
16.46
47.73
370.23
407.71
340.65
30.11
31.44
13.98
48.84
423.82
4.35
56.55
LnAktiva
9.2860
8.7008
4.9972
5.4722
9.4561
9.3522
8.3698
8.1687
5.9558
8.1542
8.3197
8.5541
6.1882
6.6039
8.6468
8.3806
8.3148
8.6299
6.3835
7.6216
9.8124
7.6680
7.7873
8.6560
7.1196
4.9126
6.9865
8.5735
8.9994
Harga
Saham
5.8579
6.1312
4.9972
6.4297
6.8876
6.2916
6.1944
6.7685
5.4596
6.2146
6.0753
7.4955
6.4922
5.5797
5.5413
6.4297
7.6962
5.2470
5.4161
7.4900
6.4922
7.9725
5.4806
6.6201
5.0499
4.4543
7.9010
5.5797
7.1229
86
Universitas Sumatera Utara
Tahun 2012
No
Kode
DAR
ROE
NPM
EPS
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
APLN
ASRI
BAPA
BCIP
BSDE
CTRA
CTRP
CTRS
COWL
SCBD
DART
DUTI
GMTD
MORE
DILD
JIHD
JRPT
KIJA
LAMI
LPCK
LPKR
MKPI
MDLN
PWON
GPRA
RBMS
RDTX
BKSL
SMRA
0.59
0.57
0.45
0.39
0.37
0.31
0.31
0.47
0.56
0.26
0.34
0.21
0.73
0.29
O.37
0.25
0.57
0.44
0.49
0.56
0.51
0.31
0.39
0.59
0.49
0.08
0.22
0.19
0.71
0.1506
0.2841
0.0329
0.0657
0.1061
0.0818
0.0500
0.1368
0.2657
0.1657
0.0609
0.0994
0.2415
0.2254
0.0529
0.0251
0.1581
0.0918
0.1105
0.2920
0.0982
0.2062
0.0927
0.2368
0.0628
0.0144
0.1373
0.0432
0.2029
0.2041
0.4971
0.1289
0.1485
0.3448
0.2397
0.3509
0.2857
0.2084
0.0315
0.1987
0.3733
0.2666
0.1078
0.1884
0.0762
0.3948
0.2715
0.2669
0.3845
0.4840
0.4277
0.2321
0.3664
0.1224
0.4811
0.4393
0.3320
0.2076
35.00
61.89
3.14
6.69
51.85
35.36
25.14
126.94
157.97
10.96
43.69
232.24
424.92
14.00
15.49
23.67
104.42
14.18
25.35
411.57
473.41
285.00
26.47
48.97
6.40
45.76
408.54
5.77
66.44
LnAktiva
9.6287
9.3007
5.0689
5.8348
9.7265
9.6173
8.6884
8.3957
7.4832
8.1772
8.3647
5.8721
6.8035
6.6515
8.7147
8.4017
8.5167
8.8647
6.4216
7.9487
10.1213
7.8371
8.4320
8.9314
7.1777
5.0304
7.0967
8.7248
9.2943
Harga
Saham
5.9135
6.3969
4.9345
5.5215
7.0121
6.6846
6.3969
7.7187
4.9628
6.7214
6.5653
8.0229
6.4922
5.8141
5.8141
6.5511
8.0392
5.2983
5.3706
8.0787
6.9078
8.2687
6.4135
5.4161
4.6052
4.9628
8.1605
5.2417
7.5496
87
Universitas Sumatera Utara
Lampiran 4
Statistik Deskriptif
Descriptive Statistics
N
Minimum
Maximum
Mean
Std. Deviation
DAR
87
.0700
.7300
.408046
.1684943
ROE
87
.0115
.3671
.139630
.0843721
NPM
87
.0297
1.0148
.245482
.1458844
EPS
87
1.4300
635.7900
98.894368
143.4262842
UKURAN PERUSAHAAN
87
4.7621
10.1213
7.794341
1.3493064
HARGA SAHAM
87
4.3944
8.2687
6.213857
1.0023033
Valid N (listwise)
87
88
Universitas Sumatera Utara
Lampiran 5
Hasil Uji Normalitas
One-Sample Kolmogorov-Smirnov Test Sebelum Transformasi
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
Normal Parameters
87
a,b
Mean
.0000000
Std. Deviation
Most Extreme Differences
684.50011270
Absolute
.158
Positive
.158
Negative
-.076
Kolmogorov-Smirnov Z
1.477
Asymp. Sig. (2-tailed)
.025
a. Test distribution is Normal.
b. Calculated from data.
One-Sample Kolmogorov-Smirnov Test Sesudah Transformasi
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N
Normal Parameters
87
a,b
Mean
Std. Deviation
Most Extreme Differences
Kolmogorov-Smirnov Z
Asymp. Sig. (2-tailed)
.0000000
684.50011270
Absolute
.158
Positive
.158
Negative
-.076
1.477
.025
a. Test distribution is Normal.
b. Calculated from data.
89
Universitas Sumatera Utara
Histogram Sebelum Transformasi
Histogram Sesudah Transformasi
90
Universitas Sumatera Utara
P-P Plot Sebelum Transformasi
P-P Plot Sesudah Transformasi
91
Universitas Sumatera Utara
Lampiran 6
Uji Multikolineritas
Coefficientsa
Model
Unstandardized
Collinearity
Coefficients
Statistics
B
1
(Constant)
Std. Error
Tolerance
VIF
3.561
.508
DAR
-1.237
.582
.646
1.547
ROE
3.102
1.278
.535
1.871
NPM
.048
.582
.863
1.159
EPS
.003
.001
.746
1.341
UKURAN
.307
.060
.942
1.061
PERUSAHAAN
a. Dependent Variable: HARGA SAHAM
92
Universitas Sumatera Utara
Lampiran 7
Hasil Uji Heteroskesdatisitas
93
Universitas Sumatera Utara
Lampiran 8
Hasil Uji Autokorelasi Sebelum Transformasi
Model Summaryb
Model
R
.706a
1
a.
R square
Adjusted R
Square
.499
Std. Error of
the Estimate
.468
Durbinwatson
.7312235
2.345
Predictors: (Constant), Ukurab Perusahaan, NPM, ROE, EPS, DAR
b.
Dependent Variable: Harga Saham
Hasil Uji Autokorelasi Sesudah Transformasi
Model
1
a.
b.
R
R square
Adjusted R
Square
Std. Error of
the Estimate
Durbinwatson
.750a
.562
.529
.6919703
Predictors: (Constant), Lag_Y, NPM, ROE, UKURAN PERUSAHAAN, EPS, DAR
Dependent Variable: HARGA SAHAM
1.885
94
Universitas Sumatera Utara
Lampiran 9
Hasil Uji Hipotesis
Uji t
Coefficientsa
Model
Unstandardized
Standardized
Coefficients
Coefficients
B
1
a.
(Constant)
Std. Error
3.561
.508
DAR
-1.237
.582
ROE
3.102
NPM
Beta
T
Sig.
7.014
.000
-.208
-2.126
.037
1.278
.261
2.427
.017
.048
.582
.007
.083
.934
EPS
.003
.001
.462
5.073
.000
UKURAN PERUSAHAAN
.307
.060
.413
5.101
.000
Dependent Variable: HARGA SAHAM
Uji F
ANOVAb
Model
Sum of Squares
1
Df
Mean Square
Regression
43.087
5
8.617
Residual
43.310
81
.535
Total
86.397
86
F
Sig.
16.117
.000a
a. Predictors: (Constant), UKURAN PERUSAHAAN, NPM, ROE, EPS, DAR
b. Dependent Variable: HARGA SAHAM
Hasil Uji Adjusted R2
Model Summaryb
Model
1
R
Adjusted R
Square
R square
.706a
.499
a.
Predictors: (Constant), Ln Aktiva, NPM, ROE, EPS, DAR
b.
Dependent Variable: Harga Saham
Std. Error of the
Estimate
.468
.7312235
95
Universitas Sumatera Utara
a.
Predictors: (Constant), Ln Aktiva, NPM, ROE, EPS, DAR
b.
Dependent Variable: Harga Saham
96
Universitas Sumatera Utara