ANALISIS PENGARUH FAKTOR FUNDAMENTAL TERHADAP
RETURN SAHAM PADA PERUSAHAAN REAL ESTATE AND PROPERTY
YANG LISTED DI BURSA EFEK INDONESIA TAHUN 2007 – 2011
ABSTRAKSI
ANALISIS PENGARUH FAKTOR FUNDAMENTAL TERHADAP
RETURN SAHAM PADA PERUSAHAAN REAL ESTATE AND PROPERTY
YANG LISTED DI BURSA EFEK INDONESIA TAHUN 2007 – 2011
Sulastry Sipayung
NIM F0309087
Penelitian ini dilakukan untuk menguji pengaruh Current Ratio (CR),
Earning Per Share (EPS), Return On Equity (ROE), Debt to Equity Ratio (DER),
serta Price to Book Value (PBV), kurs dan inflasi terhadap return saham pada
perusahaan Real Estate and Property periode 2007-2011.
Populasi yang menjadi obyek dalam penelitian ini adalah Perusahaan Real
Estate and Property periode 2007-2011. Jumlah sampel yang digunakan dalam
penelitian ini adalah 17 perusahaan Real Estate and Property yang terdaftar di
Bursa Efek Indonesia. Sampel penelitian ini diambil dengan kriteria tertentu yaitu
perusahaan harus tergolong Real Estate and Property dan masih terdaftar selama
periode pengamatan dan dipublikasikan di ICMD periode 2007-2011, serta
memiliki laba positif selama periode pengamatan. Metode analisa yang digunakan
dalam penelitian ini dengan analisis regresi berganda, uji hipotesis yaitu koefisien
determinan, uji F, dan uji T.
Hasil penelitian menunjukkan bahwa Current Ratio (CR), Earning Per
Share (EPS), Return On Equity (ROE), Debt to Equity Ratio (DER), Price to
Book Value (PBV), Kurs, dan Inflasi secara bersama-sama atau simultan
berpengaruh signifikan terhadap return saham. Secara parsial menunjukkan
bahwa hanya variabel Earning Per Share (EPS), Price to Book Value (PBV),
Kurs, dan Inflasi yang berpengaruh signifikan terhadap return saham. Sedangkan
variabel lain berupa Current Ratio (CR), Return On Equity (ROE) dan Debt to
Equity Ratio (DER) tidak berpengaruh signifikan terhadap return saham Real
Estate and Property periode 2007-2011.
Kata kunci : Current Ratio (CR), Earning Per Share (EPS), Return On
Equity (ROE), Debt to Equity Ratio (DER), Price to Book
Value (PBV), Kurs, dan Inflasi, return saham
ABSTRACT
ANALYSIS OF THE INFLUENCE OF FUNDAMENTAL FACTORS
ON STOCK RETURNS IN REAL ESTATE COMPANIES AND
PROPERTY ARE LISTED ON THE STOCK EXCHANGES OF
INDONESIA IN 2007-2011
Sulastry Sipayung
NIM F0309087
This study is performed in order to test the influence of Current Ratio
(CR), Earning Per Share (EPS), Return On Equity (ROE), Debt to Equity Ratio
(DER), serta Price to Book Value (PBV), exchange rate and inflation of stock
returns.
The population become object in this research is company sector Real
Estate and Property period of year of 2007-2011. The study sample is taken with
certain criteria that companies should be classified as Real Estate and Property,
still listed during the observation period and published in ICMD period 2007-
2011, and having a positive profit during the period of observation. The analytical
methods used in this study with multiple regression analysis, hypothesis testing is
the determinant coefficient, F-test, and test T.
The result of the study shows that the Current Ratio (CR), Earning Per
Share (EPS), Return on Equity (ROE), Debt to Equity Ratio (DER), Price to Book
Value (PBV), exchange rate, and inflation together or simultaneously significant
effect on stock returns. Partially showed that only variable Earning Per Share
(EPS), Price to Book Value (PBV), exchange rate, and inflation have a significant
effect on stock returns. Whereas other variables such as Current Ratio (CR),
Return on Equity (ROE) and Debt to Equity Ratio (DER) had no significant effect
on stock returns Real Estate and Property 2007-2011.
Key words : Current Ratio (CR), Earning Per Share (EPS), Return On
Equity (ROE), Debt to Equity Ratio (DER), Price to Book
Value (PBV), exchange rate, inflation, stock return
