ANALISIS PENGARUH KINERJA KEUANGAN PERUSAHAAN TERHADAP RETURN SAHAM PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (PERIODE 2012-2014)

Titi Damayanti

Program Studi Akuntansi Fakultas Ekonomi Universitas Ibn Khaldun Bogor.

ABSTRACT

The purpose of this study is to obtain empirical evidence on the influence of financial performance such as Current Ratio (CR), Debt to Equity Ratio (DER), Return On Equity (ROE) and Earning Per Share (EPS) to stock returns on the mining sector listed on the Stock Exchange Indonesia in 2012-2014. The number of samples used is 14 companies. Secondary data using documentation method obtained from published annual financial report. Multiple regression techniques are used to test influences such as Current Ratio (CR), Debt to Equity Ratio (DER), Return On Equity (ROE) and Earning Per Share (EPS) to stock returns.

Obtained regression equation Y = -0,512 + 0.002X1 + 0.066X2 + 0.023X3 - 0.004X4. Constant value for regression equation marked negative equal to -0.219. This means that the Current Ratio, the Debt to Equity Ratio, the Return On Equity and the Earning Per Share against Stock Returns of mining companies listed on the IDX for the period 2012-2014 have decreased.

It is concluded from the result of data analysis that partially show that there is significant influence to stock return, that is Return On Equity (X3) with t value counted 2,809 with significance equal to 0.008 and Earning Per Share (X4) with value of t count equal to -2,710 with significance equal to 0,010. While other independent variables (Current Ratio and Debt to Equity Ratio) no significant effect on stock returns of mining companies listed on the BEI period 2012-2014. From the results of research simultaneously, to see that the four factors of financial performance (Current Ratio, Debt to Equity Ratio, Return On Equity and Earning Per Share) to stock returns have a value of arithmetic of 3,672 with a significance value of 0.013.

Keywords: Financial Performance (Current Ratio, Debt to Equity Ratio and Return On Equity) and Stock Return.

ABSTRAK

Tujuan penelitian ini adalah memperoleh bukti empiris mengenai pengaruh kinerja keuangan seperti Current Ratio (CR), Debt to Equity Ratio (DER), Return On Equity (ROE) dan Earning Per Share (EPS) terhadap return saham pada sektor pertambangan yang terdaftar di Bursa Efek Indonesia tahun 2012–2014. Jumlah sampel yang digunakan adalah 14 perusahaan. Data sekunder menggunakan metode dokumentasi yang diperoleh dari laporan keuangan tahunan yang dipublikasikan. Teknik regresi berganda digunakan untuk menguji pengaruh seperti Current Ratio (CR), Debt to Equity Ratio (DER), Return On Equity (ROE) dan Earning Per Share (EPS) terhadap return saham.

Diperoleh persamaan regresi Y = -0,512 + 0,002X1 + 0,066X2 + 0,023X3 - 0,004X4. Nilai konstanta untuk persamaan regresi bertanda negatif sebesar 0,512. Hal ini berarti bahwa Current Ratio, Debt to Equity Ratio, Return On Equity dan Earning Per Share terhadap Return Saham perusahaan pertambangan yang terdaftar di BEI periode 2012–2014 mengalami penurunan.

Disimpulkan dari hasil analisis data bahwa secara parsial menunjukkan bahwa adanya pengaruh signifikan terhadap return saham, yaitu Return On Equity (X3) dengan nilai t hitung sebesar 2,809 dengan signifikansi sebesar 0,008 dan Earning Per Share (X4) dengan nilai t hitung sebesar -2,710 dengan signifikansi sebesar 0,010. Sedangkan variabel independen lainnya (Current Ratio dan Debt to Equity Ratio) tidak berpengaruh signifikan terhadap return saham perusahaan pertambangan yang terdaftar di BEI periode 2012–2014. Dari hasil penelitian secara simultan, menunjukan bahwa ada faktor-faktor kinerja keuangan (Current Ratio, Debt to Equity Ratio, Return On Equity dan Earning Per Share) terhadap return saham dengan nilai F hitung sebesar 3,672 dengan nilai signifikansi 0,013.

Kata Kunci: Kinerja Keuangan (Current Ratio, Debt to Equity Ratio dan Return On Equity) dan Return Saham.