PENGARUH FAKTOR FUNDAMENTAL PERUSAHAAN, RISIKO SISTEMATIS, DAN GOOD CORPORATE GOVERNANCE TERHADAP HARGA SAHAM

Abstract

This research aims to examine the influence of fundamental factors of the firm which consist of Earning per share (EPS), Price Earning Ratio (PER), and Debt to Equity Ratio (DER), Systematic Risk (β share) and Good Corporate Governance (GCG) stock price. The sample taken is an insurance company which listed in Indonesia Stock Exchange (BEI) in 2012 - 2016. The number of companies in this research are 7 companies that determine using purposive sampling method. The analytical technique uses multiple linear regression analysis.The results showed that: (a) Earning per share have a significant positive effect on stock prices; (b) Price earning ratio has no significant but positive influence on stock price; (c) Debt to equity ratio has a significant positive influence on stock price; (d) Systematic risk (β share) has no significant but negative influence on stock price; (e) Good corporate governance (independent committee and audit committee) have a significant positive influence on stock prices. Coefficient of determination equal to 76,4% which means stock price can be explained by variable of earning per share, price earning ratio, debt to equity ratio, systematic risk (β share), good corporate governance (independent committee and audit committee) while the rest 23.6 % is explained by other variables not included in this regression model.

Keywords: fundamental factors, systematic risk, good corporate governance and stock price