1. Home
  2. Vol 6, No 1 (2020)
  3. Mufid

FAKTOR-FAKTOR YANG MEMPENGARUHI RETURN SAHAM PERUSAHAAN FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA

Muhammad Nur Mufid

Abstract


This study aims to examine the relationship between debt to equity and systematic risk on stock returns of pharmaceutical companies listed on the Indonesian stock exchange. The object of this research is a pharmaceutical company listed on the Indonesia Stock Exchange (IDX) with the financial reporting period of 2014-2017. The sampling technique in this study was purposive sampling and obtained eight samples. The test method used in this research is multiple regression analysis method. The results showed that the debt ratio (DER) had no effect on stock returns, while the systematic risk (BETA) had a significant effect on stock returns. The implication of this research is that it provides an understanding for investors in making investment decisions to consider the fundamental analysis of financial information in estimating the stock returns that will be received. In addition, investors must also consider and pay attention to the risks that will be obtained which will certainly affect stock returns.


Keywords


stockt returns; debt to equity ratio; systematic risk

References


Arista, D. (2012). Analisis Faktor-Faktor yang Mempengaruhi Return Saham. Jurnal Ilmu Manajemen dan Akuntansi Terapan, 3(1), 1-15.

Arvirianty, A. (2017). Industri Farmasi Semakin Sehat. Media Indonesia [online]. Tersedia: www.mediaindonesia.com [Diakses 1 Oktober 2019]

Brealey, Richard A, dkk. (2001). Fundamentals of Corporate Finace. Third Edition. Singapore: Mc Graw-Hill.

Fahmi, I. (2012) . Analisis Kinerja Keuangan, Bandung: Alfabeta.

Husnan, Suad. (2005). Dasar-Dasar Teori Portofolio dan Analisis Sekuritas, Edisi keempat, Cetakan Pertama. Yogyakarta: UUP STIM YKPN.

Ismayanti, D. dan Wualnsari, M. (2014). Pengaruh Faktor Fundamental Dan Risiko (Beta) Terhadap Return Saham Pada Perusahaan Yang Termasuk Dalam Indeks LQ 45. JWM (Jurnal Wawasan Manajemen), 2(1), 1-20. http://dx.doi.org/10.20527/jwm.v2i1.30

Jogiyanto. (2014). Teori Portofolio dan Analisis Investasi. Edisi Tiga. Yogyakarta: BPFE

Jones, Charles P.(2000). Investment: Analysis and Management, 7th edition, New York: John Willey and Sons.Inc.

Prasetyo, dkk. (2012). Pengaruh Faktor Fundamental Dan Risiko Sistematis Terhadap Return Saham Syariah. Media Riset Akuntansi, Auditing Dan Informasi, 12(1), 23-44. http://dx.doi.org/10.25105/mraai.v12i1.581

Ross, A.S, dkk. (2003). Fundamentals of Corporate Finance. Sixth edition. New York: Mc Graw-Hill.

Sartono, A. (2001). Manajemen Keuangan Teori dan Aplikasi. Yogyakarta: BPEF- Yogyakarta.

Scott, Besley., Eugene F, Bringham. (2000). Essentials of Managerial Finance, Twelfth Edition. Orlando: Harcourt Inc.

Septiana, F dan Wahyuati, A. (2016). Pengaruh Rasio Keuangan Terhadap Return Saham Pada Perusahaan Manufaktur. Jurnal Ilmu dan Riset Manajemen. 5(1), 1-21.

Sudarto, Krisnhoe, F, dan Tohir, R. (1999). Analisis Return Saham dan Faktor faktor yang Mempengaruhinya, JEBA, 1(1), 43-51.

Suharli, M. (2005). Akuntansi untuk Bisnis Jasa dan Dagang. Edisi Pertama, Yogyakarta: Graha Ilmu.

Supriyono, E.(2016). Pengaruh Debt to Equity Ratio, Return on Asset, BETA dan KURS terhadap Return Saham. Tesis. Universitas Muhammadiyyah Yogyakarta.

Tandelilin, E. (2001). Analisis Investasi Manajemen Portfolio, Cetakan Pertama, Yogyakarta: BPFE.

Wingsih, Y. (2013). Analisis Pengaruh Likuiditas, Profitabilitas, dan Solvabilitas Terhadap Return Saham Pada Perusahaan Pertambangan Yang Terdaftar di Bursa Efek Indonesia Pada Tahun 2008 Sampai 2012. Skripsi. Universitas Dian Nuswantoro.

Yunina, F., dkk. (2013). Pengaruh Risiko Sistematik, Leverage dan Laba Terhadap Return Saham. Jurnal Akuntansi Pascasarjana Universitas Syiah Kuala, 2(2), 56-64.

Zulbahridar dan Jonius. (2002). Pengaruh Risiko dan Leverage Keuangan Riau-Pekanbaru Terhadap Tingkat Keuntungan dalam Sektor Properti dan Real Estate di BEJ. Jurnal Penelitian Riset Akuntansi IX, Fakultas Ekonomi.


Full Text: PDF

DOI: 10.34204/jiafe.v6i1.1820

Refbacks

  • There are currently no refbacks.


Copyright (c) 2020 JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi)

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.