THE RELEVANCE OF LEVERAGE, PROFITABILITY, MARKET PERFORMANCE, AND MACROECONOMIC TO STOCK PRICE

Atim Djazuli

Abstract


Abstract: This research aimed to test and analyze the influence of DER, ROE, PER, Interest Rate, and Currency to stock price. This research used quantitative approach by implementing multiple regression analysis method. The research population is food and beverage companies listed in Indonesian Stock Exchange in the period of 2010-2014 out of which 11 companies were selected as samples to be observed. The result showed that fundamental variables that have positive effect on stock price are ROE and PER. Fundamental variables that have negative effect is DER. Interest rate and exchange rate do not affect stock price.

 

Keywords: Leverage, profitability, interest rate, exchange rate, stock price.

 

Abstrak: Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh DER, ROE, PER, suku bunga, dan nilai tukar terhadap harga saham. Sebanyak 11 perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia tahun 2010-2014 ditelaah untuk diobservasi. Jenis penelitian ini adalah explanatory research dengan menggunakan metode linear multipel. Hasil penelitian menunjukkan variabel fundamental yang berpengaruh positif terhadap harga saham adalah rasio ROE dan PER. Sedangkan variabel fundamental yang berpengaruh negatif terhadap harga saham adalah rasio DER.  Suku bunga dan nilai tukar tidak berpengaruh terhadap harga saham.

 

Kata Kunci: Leverage, profitability, interest rate, exchange rate, stock price.


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