PENGARUH STRUKTUR MODAL DAN PROFITABILITAS TERHADAP HARGA SAHAM PADA PERUSAHAAN BATUBARA DI BEI

Abstract

This research aimed to find out the effect of capital structure which referred to Debt to Equity Ratio (DER) and profitability which referred to Return on Equity (ROE), Earning Per Share (EPS) on the shares price (Closing Price) at Coal company. The research was quantitative. The sampling collection technique used purposive sampling in which the collection based on criteria given. In line with, there were 35 samples from 7 coal companies which were listed on The Indonesia Stock Exchange 2013-2017. Furthermore, the data used secondary which were taken from Indonesia Stock Exchange Investment Gallery STIESIA Surabaya. In addition, data analysis technique used multiple linear regression analysis. The research result from f-test, simultaneously, concluded Debt to Equity Ratio (DER), Return on Equity (ROE), and Earning Per Share (EPS) had significant effect on the shares price (Closing Price). on the other hand, the result of partial test (t-test) concluded. Debt to Equity Ratio (DER) did not affect and had negative effect, Return on Equity (ROE) had significant and negative effect also Earning Per Share (EPS) had significant and positive effect on the shares price.
Keywords: capital structure, profitability, shares price