Kinerja Keuangan Perusahaan Pada Harga Saham Perusahaan Food and Beverage di Indonesia
Abstract
The background of the research is the importance of the company's financial performance in making investment decisions for potential investors. The purpose of this study was to determine and analyze the effect of the Current Ratio, Total Asset Turnover, Debt to Equity Ratio, Return on Equit, and Price Earnings Ratio on the Stock Price of Food and Beverage Companies for the 2015-2019 period. The sample in this study used a purposive sampling technique and the final sample was 54 food and beverage companies during the sample period. The analytical tool used is multiple linear regression. The results showed that the Current Ratio, Return on Equity and Price Earnings Ratio had an effect on stock prices. Meanwhile, Total Asset Turnover and Debt to Equity Ratio have no effect on stock prices.
Keywords: Current Ratio; Total Asset Turnover; Debt to Equity Ratio; Return on Equity; Price Earnings Ratio; Stock Price.
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References
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Petchsakulwong, P., & Jansakul, N. (2018). Board of directors and profitability ratio of Thai non-life insurers. Kasetsart Journal of Social Sciences, 39(1), 122–128. https://doi.org/10.1016/j.kjss.2017.11.005
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Qorinawati, V., & Adiwibowo, A. S. (2019). Pengaruh Kinerja Keuangan Terhadap Harga Saham (Studi Empiris Pada Emiten Yang Konsisten Masuk Dalam Indeks Lq45 Tahun 2015-2017). Diponegoro Journal of Accounting, 8(1), 1–11.
Razak, A., Nurfitriana, F. V., Wana, D., Ramli, Umar, I., & Endri, E. (2020). The Effects of Financial Performance on Stock Returns: Evidence of Machine and Heavy Equipment Companies in Indonesia. Research in World Economy, 11(6), 131–138. https://doi.org/10.5430/rwe.v11n6p131
Robu, M.-A., Jaba, E., Mironiuc, M., & Robu, I.-B. (2014). Estimating the Influence of the Financial and Nonfinancial Factors on the Capital Gains Yield in the Case of the Romanian Stock Market. Procedia - Social and Behavioral Sciences, 109, 1298–1302. https://doi.org/10.1016/j.sbspro.2013.12.628
Stella. (2009). Pengaruh Price To Earnings Ratio , Debt To Equity Ratio , Return on Asset Dan Price To Book Value Terhadap. Jurnal Bisnis Dan Akuntansi, 11(2), 97–106. https://jurnaltsm.id/index.php/JBA/article/view/172
Sulistyorini, M., Nurlaela, S., & S, Y. C. (2016). Pengaruh Penggunaan Sistem Administrasi E-Registration, E- Billing, E-Spt, Dan E-Filling Terhadap Kepatuhan Wajib Pajak (Studi Pada Wajib Pajak Orang Pribadi Di Rsud Dr. Moewardi Surakarta). Perpajakan, 371–379. https://doi.org/10.1002/mrm.25338
Sutrisno, & Sekar, P. N. (2018). Kinerja dan Return Saham Perusahaan Pertambangan di Indonesia. Journal of Research and Applications Accounting and Management, 3(1). https://doi.org/10.18382/jraam.v3i1.52
Widyastuti, M. (2019). Analysis Of Liquidity, Activity, Leverage, Financial Performance And Company Value In Food and beverage Companies Listed On The Indonesia Stock Exchange. International Journal of Economics and Management Studies, 6(5), 52–58. https://doi.org/10.14445/23939125/ijems-v6i5p109
Wolk, H. I., & Tearney, M. G. (2000). Accounting Theory: A Conceptual And Institutional Approach. South-Western College Publishing.
Atkins, A., Niranjan, M., & Gerding, E. (2018). Financial news predicts stock market volatility better than close price. Journal of Finance and Data Science, 4(2), 120–137. https://doi.org/10.1016/j.jfds.2018.02.002
Batrancea, L. (2021). The influence of liquidity and solvency on performance within the healthcare industry: Evidence from publicly listed companies. Mathematics, 9(18). https://doi.org/10.3390/math9182231
Benyamin, I. A., & Endri, E. (2019). Determinants of Stock Returns of Building Construction Companies Listed on the Indonesia Stock Exchange Period 2012-2016. Scholars Journal of Economics, Business and Management, 6(1), 39–47. https://doi.org/10.21276/sjebm.2019.6.1.6
Brigham, E. F., & Houston, J. F. (2019). Fundamentals of Financial Management. Cengage.
Creswell, J. W., & Creswell, J. D. (2018). Research Design: Qualitative,Quantitative, and Mixed Methods Approaches fifth edition (Fifth ed.). AGE Publications, Inc.
Endri, E., Rinaldi, M., Ian, D. A., Saing, B., & Aminudin, A. (2021). Oil price and stock return: Evidence of mining companies in Indonesia. International Journal of Energy Economics and Policy, 11(2), 110–114. https://doi.org/10.32479/ijeep.10608
Ghaeli, M. R. (2017). Price-to-earnings ratio: A state-of-art review. Accounting, 3(2), 131–136. https://doi.org/10.5267/j.ac.2016.7.002
Godfrey, J., Hodgson, A., Holmes, S., & Tarca, A. (2006). Accounting Theory (6th Editio). John Wiley & Sons Australia Ltd. Australia.
Hashim, S. L., & Shahrumzaki, N. I. I. (2020). The impact of profitability, leverage and dividend on the share price of food and beverage sector in Malaysia. Global Business and Management Research: An International Journal, 12(4), 535–540.
Investor.id. (n.d.). BKPM: Industri Makanan dan Minuman Paling Diminati. Diakses Pada Https://Investor.Id/Business/Bkpm-Industri-Makanan-Dan-Minuman-Palingdiminati Tanggal 1 Januari 2022.
Jermsittiparsert, K., Ambarita, D. E., Mihardjo, L. W. W., & Ghani, E. K. (2019). Risk-return through financial ratios as determinants of stock price: A study from ASEAN region. Journal of Security and Sustainability Issues, 9(1), 199–210. https://doi.org/10.9770/jssi.2019.9.1(15)
Juwita, C. P., & Diana, N. (2012). The Effect Of DER And ROE On Stock Price JII Compnies. Management Analysis Journal, 1(2), 120–128.
Kasmir. (2015). Analisis Laporan Keuangan. PT Raja Grafindo Persada.
Kemenperin.go.id. (2019). No Title. Industri Makanan Dan Minuman Jadi Sektor Kampiun, Diakses Pada Https://Kemenperin.Go.Id/Artikel/20298/Industri-Makanan-Dan-MinumanJadi-SektorKampiun Tanggal 1 Januari 2022.
Maneemaroj, P., Lonkani, R., & Chingchayanurak, C. (2021). Appropriate Expected Return and the Relationship with Risk. Global Business Review, 22(4), 865–878. https://doi.org/10.1177/0972150919830879
Martani, D., & Khairurizka, R. (2009). The effect of financial ratios, firm size, and cash flow from operating activities in the interim report to the stock return. Chinese Business Review, 08(06), 44–55. https://doi.org/10.17265/1537-1506/2009.06.005
Nasarudin, I. Y., Suhendra, S., & Anggraini, L. F. (2019). Determinant of Stock Price: Evidence on Food and beverage Companies in Indonesia. Etikonomi, 18(1), 143–154. https://doi.org/10.15408/etk.v18i1.10987
Nautiyal, N., & Kavidayal, P. C. (2018). Analysis of Institutional Factors Affecting Share Prices: The Case of National Stock Exchange. Global Business Review, 19(3), 707–721. https://doi.org/10.1177/0972150917713865
Nicholson, S. F. (1960). Price-Earnings Ratios. Financial Analysts Journal, 16(4), 43–45. https://doi.org/10.2469/faj.v16.n4.43
Octaviani, S., & Komalasarai, D. (2017). PENGARUH LIKUIDITAS, PROFITABILITAS, dan SOLVABILITAS TERHADAP HARGA SAHAM (Studi Kasus pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia). Jurnal Akuntansi., 3(2), 77–89.
Petchsakulwong, P., & Jansakul, N. (2018). Board of directors and profitability ratio of Thai non-life insurers. Kasetsart Journal of Social Sciences, 39(1), 122–128. https://doi.org/10.1016/j.kjss.2017.11.005
Pratiwi, N. B. I., Saputro, D. R. S., & Widyaningsih, P. (2021). Fuzzy c-shells for clustering of data’s LQ45 in Indonesia based on earnings per share and price earning ratio. Journal of Physics: Conference Series, 1776(1). https://doi.org/10.1088/1742-6596/1776/1/012054
Qorinawati, V., & Adiwibowo, A. S. (2019). Pengaruh Kinerja Keuangan Terhadap Harga Saham (Studi Empiris Pada Emiten Yang Konsisten Masuk Dalam Indeks Lq45 Tahun 2015-2017). Diponegoro Journal of Accounting, 8(1), 1–11.
Razak, A., Nurfitriana, F. V., Wana, D., Ramli, Umar, I., & Endri, E. (2020). The Effects of Financial Performance on Stock Returns: Evidence of Machine and Heavy Equipment Companies in Indonesia. Research in World Economy, 11(6), 131–138. https://doi.org/10.5430/rwe.v11n6p131
Robu, M.-A., Jaba, E., Mironiuc, M., & Robu, I.-B. (2014). Estimating the Influence of the Financial and Nonfinancial Factors on the Capital Gains Yield in the Case of the Romanian Stock Market. Procedia - Social and Behavioral Sciences, 109, 1298–1302. https://doi.org/10.1016/j.sbspro.2013.12.628
Stella. (2009). Pengaruh Price To Earnings Ratio , Debt To Equity Ratio , Return on Asset Dan Price To Book Value Terhadap. Jurnal Bisnis Dan Akuntansi, 11(2), 97–106. https://jurnaltsm.id/index.php/JBA/article/view/172
Sulistyorini, M., Nurlaela, S., & S, Y. C. (2016). Pengaruh Penggunaan Sistem Administrasi E-Registration, E- Billing, E-Spt, Dan E-Filling Terhadap Kepatuhan Wajib Pajak (Studi Pada Wajib Pajak Orang Pribadi Di Rsud Dr. Moewardi Surakarta). Perpajakan, 371–379. https://doi.org/10.1002/mrm.25338
Sutrisno, & Sekar, P. N. (2018). Kinerja dan Return Saham Perusahaan Pertambangan di Indonesia. Journal of Research and Applications Accounting and Management, 3(1). https://doi.org/10.18382/jraam.v3i1.52
Widyastuti, M. (2019). Analysis Of Liquidity, Activity, Leverage, Financial Performance And Company Value In Food and beverage Companies Listed On The Indonesia Stock Exchange. International Journal of Economics and Management Studies, 6(5), 52–58. https://doi.org/10.14445/23939125/ijems-v6i5p109
Wolk, H. I., & Tearney, M. G. (2000). Accounting Theory: A Conceptual And Institutional Approach. South-Western College Publishing.
Published
2022-07-22
How to Cite
AINUL, Nazilatul Khunaina Il Khafa; WULANDARI, Annisa.
Kinerja Keuangan Perusahaan Pada Harga Saham Perusahaan Food and Beverage di Indonesia.
E-Jurnal Akuntansi, [S.l.], v. 32, n. 7, p. 1940-1952, july 2022.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/85648>. Date accessed: 14 nov. 2024.
doi: https://doi.org/10.24843/EJA.2022.v32.i07.p20.
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