PENGARUH LIKUIDITAS, KEBIJAKAN DIVIDEN DAN PERTUMBUHAN PENJUALAN TERHADAP HARGA SAHAM

Abstract

This research aimed to examine the effect of liquidity, dividend policy, and sales growth on shares price of Property and Real Estate companies which were listed on Indonesia Stock Exchange. While, the liquidity was measured by Current Ratio, dividend policy was measured by Dividend Payout Ratio, and sales growth which was measured by Sales Growth. Moreover, the shares price was used as the closing price. The research was quantitative. While, the population was 48 Property and Real Estate companies which were listed on Indonesia Stock Exchangefore five years (2013-2017). Furthermore, there were tweleve companies as sample. In addition, the sampling collection technique used purposive sampling. At this point, the sampling was taken by the criteria given. For the data analysis technique, it used multiple linear regression with SPSS version 20. The research result concluded the liquidity had positive but insignificant effect on the shares price. While, the dividend policy had positive and significant effect on shares price. On the other hand, the sales growth had negative and insignificant effect on the share price.
Keywords: liquidity, dividend policy, sales growth, shares price.