PENGARUH VARIABEL FUNDAMENTAL KEUANGAN PERUSAHAAN DAN RISIKO SISTEMATIK TERHADAP HARGA SAHAM PERTAMBANGAN BATU BARA

Abstract

Coal mining companies are the economy moving pionnersin many regions, of course making investors interested in investing. This research aims to determine the influence of fundamental factors and systematic risk on the stock price in coal mining companies which is listed in the Indonesia Stock Exchange (IDX) in 2012-2016. Sampling technique using purposive sampling method, so that obtained by 8 companies that fit by the criteria in this research. The analysis technique used multiple linear regression analysis. Partial test results show that earnings per share influence on the stock prices because the company is able to generate high earnings per share for investors, so it can prosper the shareholders. Price earnings ratio influenced the stock price because the market highly appreciates the company that is reflected through its share price. Price to book value influenced on the stock prices because the company is able to create value for shareholders, reflected by the stock price higher than the book value. Return on equity influenced on the stock price because the company is able to use its resources to provide a return on the company's equity. Meanwhile, systematic risk does not influenced on the stock prices because market instability that causes changes cannot be accurately predicted, so investors tend to avoid high risks. Companies should be transparent about earnings per share, price earnings ratio, price to book value, return on equity, and systematic risk are faced by the company so that the investors can easily predict the stock prices.

Keywords:  fundamental factors, systematic risk, stock prices