PENGARUH INFLASI, NILAI TUKAR RUPIAH DAN PER TERHADAP HARGA SAHAM PADA PERUSAHAAN FARMASI DI BEI

Abstract

This research aimed to examine the effect of inflation, exchange rate, and price earning ratio (PER) on stock price
of pharmaceutical companies 2016-2020. The population was pharmaceutical companies which were listed on
Indonesia Stock Exchange (IDX) 2016-2020. Moreover, the data collection technique used saturated sampling, in
which all members of the population were the sample based on its characteristics and qualities. In line with that,
there were 7 companies as a research sample. Furthermore, the data analysis technique used multiple linear
regression with SPSS 25. The research result concluded that inflation and exchange rate had a negative and
insignificant effect on stock price. This happened as pharmaceutical companies were the companies whose medicine
had in-elastic characteristics and needed by many people. Therefore, the inflation and exchange rate did not affect
the companies. On the other hand, price earning ratio (PER) had a positive and significant effect on stock price as
the companies were able to manage their financial well. So that they could have a lot of profits and attract many
investors to invest in the companies.