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PENGARUH NPM, PER, EPS, DAN INFLASI TERHADAP RETURNSAHAM PADA PERUSAHAAN BUMNGO PUBLIC

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Keywords
  • Npm
  • Per
  • Eps
  • Inflasi
  • Danreturnsaham

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruhNPM, PER, EPS, dan inflasi terhadapreturnsahampada perusahaan BUMNgo publictahun 2006- 2011. Datadalam penelitian ini diperoleh dari publikasi Indonesian Capital MarketDirectoryperiode2006-2011.Jumlah sampel sebanyak 12 Perusahaan BUMNgo publicyang tercatat dalam Bursa Efek Indonesia dengan periode 2006-2011yang diambil melalui purposive samplingmetode. Teknik analisis yang digunakan adalah regresi berganda danuji hipotesis menggunakan uji F dan uji tyang sebelumnya telah dilakukan uji asumsi klasik terlebih dahulu. Hasil penelitian menunjukkan bahwa variabel NPM, PER,EPSdan inflasi secara bersama-sama berpengaruhsignifikan terhadap return saham. Secara parsial, variabel PER dan EPS berpengaruh positif dan signifikan, sedangkan variabel NPM dan inflasi berpengaruh negatif dan signifikan terhadapreturn saham. Variabel yang berpengaruhdominan terhadapreturn saham adalah variabel EPS. Dari penelitian inidiperoleh nilaiR 2 sebesar 0,384. Hal tersebut berarti bahwa 38,4% variabeldependen yaitureturnsahamdapat dijelaskan olehNPM, PER, EPS, dan inflasi, sisanya sebesar 61,6% dijelaskan oleh variable-variabel lain. Kata Kunci:NPM, PER, EPS,Inflasi,danReturnSaham This researchaims to analyze the effect ofNet Profit Margin (NPM), Price Earning Ratio (PER), Earning Per Share (EPS), and inflationon stock return of go public state-owned enterprises from 2006 until2011. Data of thisresearch werederived from the publicationof Indonesian Capital Market Directory from 2006 until2011.The number of samplesof thisresearch is 12 listed go public state-owned enterprises in Indonesian Stock Exchange by using purposive sampling method.Analysistechniquesin this research arethe multiple linear regression andthe hypothesis testing by using F and t test, performed classical assumption first. Researchfindings show that NPM, PER, EPS, and inflation simultaneously have significanteffectonstockreturn. Partially, PER and EPShave positiveand significant effect onstock return, meanwhile NPM and inflation havenegative and significant effect on stock return. Thedominant variable in explaining stock return is EPS. R 2 value in thisresearch is 0,384. This number means 38,4% ofstock return as dependent variable can be explained by independent variables like NPM, PER, EPS, inflation, while the rest of 61,6% is explained by other variables. Keyword: NPM, PER, EPS,Inflation,and Stock Return

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