Pengaruh Profitabilitas, Kebijakan Dividen Dan Risiko Sistematis Terhadap Harga Saham (Studi Pada Perusahaan Manufaktur Yang Listing Di Bei Periode 2012-2014)

Abstract

The purpose of this research to determine the influence of profitability, dividend policy and systematic risk on stock price, either simultaneously as well as partially. Return on Assets (ROA), Return on Equity (ROE) and Earning per Share (EPS) will be used as proxy of profitability, Dividend Payout Ratio (DPR) and Dividend Yeild (DY) will be used as proxy of dividend policy, while BETA will be used as proxy of systematic risk. Independent variables on this research is ROA, ROE, EPS, DPR, DY and BETA, while dependent variable is stock price. Population in research is 142 manufacture companies listing on Indonesia Stock Exchange period 2012-2014, by purposive sampling is obtained 20 companies as sample. The F-test results showed that variables Return on Assets (ROA), Return on Equity (ROE), Earning per Share (EPS), Dividend Payout Ratio (DPR), Dividend Yeild (DY) and systematic risk (BETA) simultaneously and significant effect on stock price. The t-test result showed that partially Return on Assets, Return on Equity and Earning per Share significant effect on stock price, while Dividend Payout Ratio, Dividend Yeild and systematc risk (BETA) insignificant effect on stock price