PENGARUH PROFITABILITAS, INFLASI, DAN KURS TERHADAP HARGA SAHAM PADA PERUSAHAAN FARMASI YANG TERDAFTAR DI BEI

Abstract

Stock price is very determined by supply and demand for stock it self. While, the more investors are, the stock price will move forward and vice versa. Therefore, this research aimed to examine the effect of Return on Asset (ROA), Return on Equity (ROE), Inflation and exchange rates on stock price of pharmaceutical companies which were listed on Indonesia Stock Exchange 2014-2018. Meanwhile, all population was taken as sample, i.e. 7 pharmaceutical companies which were listed on Indonesia Stock Exchange 2014-2018. Moreover, the data were secondary, which taken from STIESIA Surabaya Stock Exchange Gallery. Furthermore, the data analysis technique used multiple linear regression s with SPSS 24. The research result concluded Return On Asset (ROA) had significant effect on stock price. This indicated the size of asset owned by the company could get the maximum profit. Likewise, Return On Equity (ROE) had significant effect on stock price as it reflected the level of effectiveness and effeciency in managing capital return for investors. On the other hand, Inflation had insignificant effect on stock price. It meant, when there was inflation, people would still need drugs even the price of them rose. Likewise, the exchange rate had insignificant effect on stock price as the public would still need drugs even though its prices rose.
Keyword: stock price, return on asset, return on equity, inflation, exchange rate