PENGARUH RASIO KEUANGAN TERHADAP REAKSI PASAR SAHAM

Abstract

This research aimed to analyze the effect of financial ratio (Earning Per Share, Debt to Equity Ratio,
and Price to Book Value) on the stock market reaction at Food and Beverages companies listed on the
Indonesia Stock Exchange (IDX). This research was quantitative with hypothesis tests through
research variables and conducted the data analysis with the statistical procedure. The research
sample used Food and Beverages listed on Indonesia Stock Exchange. Furthermore, research data
used financial statements at Food and Beverages listed in Indonesia Stock Exchange in 2015 until
2018 observation periods based on determined criteria and obtained 17 companies with 68
observations. The analysis method of this research used multiple linear regressions with the
application of SPSS (Statistical Product and Service Solution) as the data processor. The research
result showed that Earning Per Share (EPS) had negative effect on the stock price. Debt to Equity
Ratio (DER) had a negative effect on the stock price. Price to Book Value (PBV) had a negative effect
on the stock price.