Pengaruh NPM, ROA, ROE terhadap Harga Saham pada Perusahaan LQ45
Abstract
The purpose of this study is to determine the movement of stock prices, namely fundamental analysis where profitability ratios are often used in fundamental analysis, namely NPM, ROA and ROE This research was conducted on companies incorporated in the 2014-2018 LQ45 index on the Indonesia Stock Exchange. The research population is 68 companies. Samples were selected using a purposive sampling technique so that the number of samples obtained was 26 companies and the number of observations over 5 years was 130 observations. Data analysis techniques using multiple linear regression analysis. Based on the results of this analysis show that NPM and ROA have no effect on stock prices so that they are unable to increase share prices in companies incorporated in the LQ45 index, while ROE affects stock prices so the higher the ROE level the higher the stock prices at companies incorporated in the LQ45 index.
Keywords: NPM; ROA; ROE; Stock Price.
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Rachmawati, Y. (2018). Pengaruh Inflasi Dan Suku Bunga Terhadap Harga Saham Pada Perusahaan Perbankan Yang Terdaftar Di LQ45 Bursa Efek. Jurnal Akuntansi.
Rosikah. (2018). Effects of Return on Asset , Return On Equity , Earning Per Share on Corporate Value. The International Journal of Engineering and Science, 7, 6–14.
Rostami. (2016). The Effect of Corporate Governance Components on Return on Assets and Stock Return of Companies Listed in Tehran Stock Exchange. Procedia Economics and Financ, 36, 137.
Salim, A., Abdurrahman, & Afi, R. . (2016). Effect of Dividend per share (DPS), Net profit margin (NPM) and Return on Equity (ROE) on Share Price (Manufacturing Industry Company listed on Indonesia Stock Exchange for 2012-2015). E – Jurnal Riset Management, 190–202.
Sianipar, A. (2005). Pengaruh Faktor Fundamental Terhadap Harga Saham Industri Perbankan Di Inonesia. Jurnal Akuntansi.
Sondakh, P. (2019). Pengaruh Struktur Modal (ROA, ROE dan DER) Terhadap Nilai Perusahaan (PBV) Pada Perusahaan Sektor Properti Yang Terdaftar DI BEI (Periode 2013-2016). Jurnal Akuntansi.
Stoner, A. ., & Sirait, J. (1994). Manajemen Investasi.
Sugiyono. (2013). Metode Penelitian Pendidikan Pendekatan Kualitatif Kuantitatif. Bandung: Alfabeta.
Zaenal, A. (2005). Teori Keuangan dan Pasar Modal.
Ahmed. (2019). Stock Return Volatility and Capital Structure Measures of Nonfinancial Firms in a Dynamic Panel Model: Evidence from Pakistan. International Journal of Finance and Economics, 24, 604.
Akhmadi, A., & Prasetyo, A. R. (2018). Profitabilitas, Rasio Solvabilitas dan Harga Saham; Studi Empirik Pada Perusahaan Subsektor Batubara Yang Terdaftar Di Bursa Efek Indonesia Periode 2010-2014. Jurnal Riset Akuntansi Terpadu, 11, 61–71.
Arifin. (2019). Pengaruh Return On Equity (ROE) dan Earning Per Share (EPS) Terhadap Harga Saham Pada Perusahaan Makanan dan Minuman yang Terdaftar Di Bursa Efek Indonesia Tahun 2014-2016. Journal of Accounting.
Bodie, K., & Marcus. (2014). Manajemen Portofolio dan Investasi.
Dewi, K, A., Purnomo, H., Murniati, W. (2018). Pengaruh Return On Assets (ROA), Return On Equity (ROE), dan Economic Value Added (EVA) Terhadap Harga Saham Perusahaan yang Tergabung dalam Jakarta Islamic Index Periode 2014 – 2016. Jurnal Riset Akuntansi, 1, 1–7.
Gerald, E. (2017). Pengaruh Return On Asset (ROA), Return On Equity (ROE), Net Profit Margin (NPM), dan Earning Per Share (EPS) Terhadap Harga Saham Perusahaan Yang Tergabung Dalam LQ45. Jurnal Ekonomi Manajemen Dan Bisnis, 5, 105–114.
Hadi, W. (2018). Analysis Of The Effect Of Net Profit Margin, Return On Assets And Return On Equity On Stock Price (Case Study on Consumption Industrial Sector Companies Listed in Indonesian Sharia Stock Index at Indonesia Stock Exchange in 2016). The Management Journal of Binaniaga, 3, 81.
Hakki, O. (2017). The Relationship Between Earnings-to-Price, Current Ratio, Profit Margin and Return: An Empirical Analysis on Istanbul Stock Exchange. Accounting and Finance Research, 7, 109.
Halaweh, M. (2018). An original information systems research method: The discount focus subgroup method. Electronic Journal of Business Research Methods, 16(1), 11–24.
Hamidy. (2015). Pengaruh Struktur Modal Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Intervening Pada Perusahaan Properti Dan Real Estate Di Bursa Efek Indonesia. Jurnal Manajemen Unud, 10, 665.
Hek, T. ., & Widya, S. (2014). Pengaruh Price Earning Ratio , Return On Asset , Dan Current Ratio Terhadap Harga Saham Pada Perusahaan Dagang Yang Terdaftar Abstrak. Jurnal Akuntansi.
Hendri, E. (2015). Pengaruh Debt to Asset Ratio (DAR), Long Term Debt to Equity Ratio (LTDER) dan Net Profit Margin (NPM) Terhadap Harga Saham Pada Perusahaan Perbankan Yang Terdaftar di Bursa Efek Indonesia. Jurnal Akuntansi.
Hla, D., & Teru, S. P. (2015). 15A. Efficiency of Accounting Information System and Performance Measures – Literature Review. International Journal of Accounting Information System, 3(May 2017), 976–984. https://doi.org/10.1016/j.cub.2007.10.043
Houston, J. ., & Brigham, E. F. (2008). Dasar Dasar Manajemen Keuangan.
Idawati, & Wahyudi, A. (2015). Effect of Earning Per Share (EPS) and Return On Assets (ROA) Against Share Price on Coal Mining Company Listed in Indonesia Stocks Exchange. Journal of Resource Development and Management, 79–92.
Ifani, P, A., Fujianti, L., Astuti, S, B. (2019). (2019). Pengaruh Profitabilitas, Leverage, dan Ukuran Perusahaan Terhadap Harga Saham Antara Indonesia dan Malaysia. Jurnal Akuntansi, 1, 153.
Katsi, P. E. (2015). Accounting Systems Usage By Small Businesses in Maluti-a-Phofung, Free State considered. Indian Journal of Finance and Banking; ISSN 25746081,(September). Retrievedfromhttps://repository.nwu.ac.za/handle/10394/15327
Khan, S. a, Lederer, A. L., & Mirchandani, D. a. (2013). Top Management Support, Collective Mindfulness, and Information Systems Performance. Journal of International Technology & Information Management, 22(1), 95–122. Retrievedfromhttp://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=95588447&site=ehost-live.
Kouser, R., Awan, A., & Shahzad, F. (2011). Firm Size, Leverage and Profitability: Overriding Impact of Accounting Information System. Business & Management Review, 1(10), 58–64.
Kurnia, D., & N Fitriani. (2015). Pengaruh Return on Asset (ROA)dan Return on Equity (ROE)Terhadap Harga Saham Pada Perusahaan Sektor Pembiayaan yang Terdaftar Di BEI Tahun2011. 1, 65–81.
Mangeta, S. A., Mangantar, M., Baramuli, D. N., Manajemen, J., Sam, U., & Manado, R. (2019). Analysis Of Return On Equity (ROE), Net Profit Margin (NPM), and Return On Assets (ROA) On Property Stock Prices On The Idx ( Period 2013-2017 ). Jurnal EMBA, 7, 3768–3777.
Megasari, R. P. (2015). Analisis Rasio Keuangan Untuk Menilai Kinerja Keuangan Perusahaan Manufaktur Yang Go Public Di BEI (Studi Pada Sektor Industri Food and Baverages Di Bursa Efek Indonesia Periode Tahun 2010-2012). Jurnal Akuntansi.
Muhlis. (2019). Pengaruh Return On Asset (ROA), Debt to Equity Ratio (DER) Dan Earning Per Share (EPS) Terhadap Harga Saham (Studi Empiris Pada Perusahaan Manufaktur Subsektor Logam Dan Sejenisnya Yang Terdaftar Di BEI Periode 2012-2016). Jurnal Akuntansi.
Nalurita, F. (2015). The Effect of Profitability Ratio, Solvability Ratio, Market Ratio on Stock Return. Business And Entrepreneurial Review.
Paradita, P. ., Damayanti, M., & Ifa, K. (2017). Pengaruh ROA , DER , OPM , EPS dan Current Ratio Terhadap Harga Saham Perusahaan Industri Barang Konsumsi Yang Terdaftar Di Bursa Efek Indonesia Periode Tahun 2015. 215.
Putri, I. A. (2015). Pengaruh Intellectual Capital (IC) Terhadap Return Saham Dengan Kinerja Keuangan Sebagai Variabel Intervening (Studi Pada Perusahaan Transportasi Yang Terdaftar Di BEI Tahun 2011-2013). Jurnal Akuntansi.
Rachmawati, Y. (2018). Pengaruh Inflasi Dan Suku Bunga Terhadap Harga Saham Pada Perusahaan Perbankan Yang Terdaftar Di LQ45 Bursa Efek. Jurnal Akuntansi.
Rosikah. (2018). Effects of Return on Asset , Return On Equity , Earning Per Share on Corporate Value. The International Journal of Engineering and Science, 7, 6–14.
Rostami. (2016). The Effect of Corporate Governance Components on Return on Assets and Stock Return of Companies Listed in Tehran Stock Exchange. Procedia Economics and Financ, 36, 137.
Salim, A., Abdurrahman, & Afi, R. . (2016). Effect of Dividend per share (DPS), Net profit margin (NPM) and Return on Equity (ROE) on Share Price (Manufacturing Industry Company listed on Indonesia Stock Exchange for 2012-2015). E – Jurnal Riset Management, 190–202.
Sianipar, A. (2005). Pengaruh Faktor Fundamental Terhadap Harga Saham Industri Perbankan Di Inonesia. Jurnal Akuntansi.
Sondakh, P. (2019). Pengaruh Struktur Modal (ROA, ROE dan DER) Terhadap Nilai Perusahaan (PBV) Pada Perusahaan Sektor Properti Yang Terdaftar DI BEI (Periode 2013-2016). Jurnal Akuntansi.
Stoner, A. ., & Sirait, J. (1994). Manajemen Investasi.
Sugiyono. (2013). Metode Penelitian Pendidikan Pendekatan Kualitatif Kuantitatif. Bandung: Alfabeta.
Zaenal, A. (2005). Teori Keuangan dan Pasar Modal.
Published
2020-05-25
How to Cite
SAHARI, Kannia Aulia; SUARTANA, I Wayan.
Pengaruh NPM, ROA, ROE terhadap Harga Saham pada Perusahaan LQ45.
E-Jurnal Akuntansi, [S.l.], v. 30, n. 5, p. 1258 - 1269, may 2020.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/56530>. Date accessed: 25 apr. 2024.
doi: https://doi.org/10.24843/EJA.2020.v30.i05.p15.
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