PENGARUH PROFITABILITAS, LEVERAGE DAN NILAI PASAR TERHADAP HARGA SAHAM

Abstract

This research is meant to test and to find out the influence of profitability, leverage, and market value to the share price of go public insurance companies which are listed in Indonesia Stock Exchange in 2011-2013 periods. The population is the insurance companies which are listed in Indonesia Stock Exchange in 2011-2013 periods. The sample collection technique has been done by using non-probability sampling and saturated sampling and the samples are 11 insurance companies which are listed in Indonesia Stock Exchange in 2011-2013 periods. have been selected as samples. The data is the secondary data which is conducted by using the financial statement data in 2011-2013 periods. The research data is processed by using SPSS software to test of multiple linear regressions, classic assumption, goodnes of fit test, and hypothesis test. The multiple regression shows that profitability, leverage, and market value significant positive effect on stock prices. R Square value of 0,705 can illustrate that the dependent variable is explained by the independent variable variabelitas for 70,5%, while 29,5% are influenced by the other variables. The result of the examination which has been done by using model feasibility test shows that these models are feasible to be used in this research. Meanwhile, the result of the hypothesis test shows that profitability variable and market value variable has positive and significant value to the share price whereas leverage has insignificant influence to the share price.
Keywords: Profitability, Leverage, Market Value, and Share price