PROFITABILITAS DAN PENGARUHNYA PADA HARGA SAHAM SEKTOR PERBANKAN

Abstrak

Abstrak

Secara konseptual, kinerja perusahaan akan berdampak terhadap variabilitas harga saham. Namun terdapat beberapa data empiris khususnya di sektor perbankan mengindikasikan hal yang berbeda.  Pada studi awal yang dianalisa secara grafis menunjukan trend profitabilitas tidak seluruhnya menunjukan hubungan yang relevan terhadap variabilitas harga saham.  Di samping itu, hasil penelitian terkait topik tersebut pun menunjukan hasil yang berbeda-beda.  Dengan demikian penelitian ini bertujuan untuk menguji secara statistik pengaruh rasio profitabilitas terhadap harga saham dengan studi kasus data rasio profitabilitas dan harga saham perusahaan perbankan yang terdaftar di Bursa Efek Indonesia selama periode 5 tahun.   Penelitian ini menggunakan pendekatan kuatitatif, di mana sampel diambil secara purposive dan dihasilkan delapan belas sampel perusahaan. Dengan menggunakan teknik regresi data panel diperoleh hasil analisa verifikatif di mana secara simultan rasio profitabilitas berbengaruh terhadap harga saham, sedangkan secara parsial rasio profitabilitas yang diproksikan dengan Return on Asset (ROA) dan Earning per Share yang berpengaruh terhadap harga saham, sedangkan Net Profit Margin (NPM) tidak mempengaruhi variabilitas harga saham.

Abstract

Conceptually, the company's performance will greatly affect the variability of stock prices. However, in practice there are some empirical data, especially in the banking sector, which indicate different things. Preliminary studies which were analyzed graphically showed that the trend of profitability did not fully affect the variability of stock prices significantly. In addition, several research gaps were found on the same problem. Based on this matter, the purpose of this study is to statistically examine the effect of profitability ratios on stock prices with a case study of profitability ratio data and stock prices of banking companies listed on the Indonesia Stock Exchange within 5 years of period. This study uses a quantitative approach, eighteen purposive samples were taken. By using panel data regression technique, the results of verification analysis show that simultaneously, profitability ratios affect stock prices, and partially, profitability ratios proxied by Return on Assets (ROA) and Earnings per Share also affect stock prices, while Net Profit Margin (NPM) does not affect stock price variability.