PENGARUH SOLVABILITAS, NILAI PASAR, INFLASI DAN KURS TERHADAP RETURN SAHAM PERUSAHAAN FARMASI YANG TERDAFTAR DI BEI

Abstract

This research aimed to find out the effect of internal factor which was measured by debt to equity ratio and eraning per share, and the external factors, namely inflation and exchange rate, on the shares return. The population was ten Pharmacy companies which were listed on Indonesia Stock Exchange 2013-2017.The data collection technique used purposive sampling, in which the sample was based on criteria given. In line with, there were six companies as sample. Moreove, there are two variables, the dependent variabel namely shares retrun, and independent variables namely solvability, market value, inflation, and exchange rate. Furthermore, the data analysis technique used multiple liniear regression.Based on the test result, from proper, model test (F Test), it concluded the model was worthly taking. While, from t-test analysis, Earning Per Share had significant effect on the shares return. On the other hand, Debt to Equity Ratio, Inflation and Exchange Rate had insignificant effect on the shares return of pharmacy companies which were listed on Indonesia Stock Exchange 2013-2017.

Keywords: solvability, market value, inflation, kurs