PENGARUH KINERJA KEUANGAN TERHADAP HARGA SAHAM PADA PERUSAHAAN TELEKOMUNIKASI DI BEI

Abstract

The purpose of this research is to examine the influence of financial performance which is measured by using Current Ratio, Debt to Equity Ratio, Earning per Share, Return on Asset and Price Earnings Ratio to the stock price on telecommunication companies in Indonesia Stock Exchange. The sample collection method has been done by using purposive sampling method and five of nine companies, which are listed in Indonesia Stock Exchange in the years of 2009-2013, are used as the research samples. The multiple linear regressions analysis are used as the data analysis method. The result of the research shows that the model which is used in this research is feasible for the next analysis. This result is supported by the acquisition of the multiple correlation coefficient is 86.7% which indicates that simultaneously the correlation between among these independent variables to the fluctuation of stock price is firm. The result of partial test shows that five variables which are used as research model have significant influence to the stock price which are Earning Per Share and Return on Asset. It is indicated by the significance value which are generated by these variables are smaller than the level of α = 5%. The result of partial determination coefficient test shows that Earning Per Share variable has the highest determination coefficient value. It indicates that this variable has dominant influence to the stock price.
Keyword: Current Ratio, Debt to Equity Ratio, Earning Per Share, Return On Asset, Price Earnings Ratio