The effect of earnings per share, debt to equity ratio and price earnings ratio towards stock price at retail companies listed on Indonesia Stock Exchange

Arvin, Arvin (2020) The effect of earnings per share, debt to equity ratio and price earnings ratio towards stock price at retail companies listed on Indonesia Stock Exchange. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

The trend of stock price movement, either short-term or long-term, is undoubtedly one of the primary concerns of investors. Most of them often look for signals from the information presented in financial statements, in order to make the investment decision. However, not all financial ratios derived from the analysis of the financial statement may really be useful, due to the insignificant effect the ratios have on stock price. Therefore, the purpose of this research is to investigate the effect of earnings per share, debt to equity ratio and price earnings ratio on stock price, whether they are significant or not. This research focuses on retail companies listed on Indonesia Stock Exchange for the year 2015 until 2019. This is a quantitative research that uses secondary data taken from the official website of Indonesia Stock Exchange. Under the purposive sampling method, there are 7 companies chosen as sample from the total population of 18 companies during the observed five-year period, totaling to 35 research samples. The data analysis method employed in this research is multiple linear regression model processed by the SPSS program. The finding of this research shows that earnings per share have significant effect towards stock price on retail companies during 2015-2019. Meanwhile, debt to equity ratio and price earnings ratio is not proven to have significant influence on stock price. Altogether, earnings per share, debt to equity ratio and price earnings ratio are proven to simultaneously effect the stock price./ Tren pergerakan harga saham, baik jangka pendek maupun jangka panjang, tentunya menjadi salah satu perhatian utama di kalangan investor. Dalam pengambilan keputusan investasi, pada umumnya investor berusaha mencari sinyal dari informasi yang diungkapkan dalam laporan keuangan. Akan tetapi, tidak semua rasio keuangan yang diperoleh dari hasil analisa laporan keuangan dapat benar-benar bermanfaat, biasanya dikarenakan tidak signifikannya pengaruh rasio tersebut terhadap harga saham. Oleh karena itu, penelitian ini bertujuan untuk menyelidiki pengaruh earnings per share, debt to equity ratio dan price earnings ratio terhadap harga saham, dan apakah pengaruh tersebut signifikan atau tidak. Fokus penelitian ini adalah perusahaan-perusahaan ritel yang terdaftar di Bursa Efek Indonesia dari tahun 2015 sampai dengan 2019. Penelitian ini merupakan penelitian kuantitatif yang menggunakan data sekunder dari website resmi Bursa Efek Indonesia. Menggunakan metode purposive sampling, terpilih sampel sebanyak 7 perusahaan dari total populasi 18 perusahaan, yang selama periode pengamatan 5 tahun menghasilkan 35 sampel penelitian. Metode analisa data yang digunakan adalah model regresi linear berganda yang diproses dengan program SPSS. Temuan dari penelitian ini menunjukkan bahwa earnings per share memiliki pengaruh signifikan terhadap harga saham perusahaan-perusahaan ritel dari tahun 2015-2019. Di sisi lain, untuk debt to equity ratio dan price earnings ratio tidak terbukti adanya pengaruh signifikan terhadap harga saham. Secara bersama-sama, earnings per share, debt to equity ratio dan price earnings ratio terbukti mempunyai pengaruh signifikan terhadap harga saham.

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