ANALISIS PENGARUH EPS, ROA, ROE, EVA, DAN MVA TERHADAP HARGA SAHAM PADA PERUSAHAAN SUBSEKTOR FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA
Abstract: The
study entitled “Analysis of EPS, ROA, ROE, EVA and MVA Effect to The Stock Price
of Pharmaceuticals Subsector Companies listed on the Indonesia Stock Exchange”,.
This study was discussed the effect that was given by the Earning Per Share,
Return on Assets, Return on Equity, Economic Value Added and Market Value Added
variables which estimate was the indicator of the company profitability to the stock
price of the pharmaceutical subsector companies listed on the Indonesia Stock Exchange
in 2010 -2014. The purpose of this study were: 1) To determine simultaneously
whether EPS, ROA, ROE, EVA and MVA have significant effect to the stock prices
of pharmaceutical subsector companies listed on the Indonesia Stock Exchange in
2010 until 2014, 2) To determine partially whether EPS, ROA, ROE, EVA, and MVA
have significant effect to the stock price of pharmaceutical subsector companies
listed on Indonesia stock Exchange in 2010 until 2014. The sampling was taken
by using purposive sampling method that was obtained 6 companies which have the
criteria. The data analysis was used multiple linear regression analysis
techniques with the assumption of normality, autocorrelation,
multicollinearity, and heteroscedasticity. The conclusion of this study based
on the simultaneous test (F test) and partial test (t test) with significance
of 5%. Based on the analysis, we concluded that as simultaneously EPS, ROA,
ROE, EVA and MVA variables have significant effect to the stock price with
65.8% coefficient of determination. It showed that 65.8% of stock price was
explained by the five independent variables, and the rest was explained by other
variables which was not included in this study. And based on partial test, only
EPS variable has significant effect to the stock price, while ROA, ROE, EVA and
MVA have no significant effect to the stock price. The suggestions for further
study is to use other variables such as the company's external variables,
currency exchange rates, inflation, interest rates, etc or other variables
outside the company's profitability. Therefore, the result of this study showed
that the profit is the main thing for companies and investors to achieve their
respective goals.
Keywords:
Earning Per Share, Return on Assets, Return on Equity, Economic Value Added,
Market Value Added, Stock Price
Penulis: Faitullah
