PENGARUH KINERJA KEUANGAN DAN KEBIJAKAN DIVIDEN TERHADAP HARGA SAHAM (Survey Pada Perusahaan Sektor Property dan Real estate di Bursa Efek Indonesia (BEI) Tahun 2013)
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Date
2015
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Tesis Program Magister Akuntansi Universitas Widyatama
Abstract
This study examines the phenomenon of stock price to company in sector of real estate and property in Indonesia Stock Exchange (BEI), which fluctuates. Some of the factors that affect stock prices is financial performance in this study was measured by the price earnings ratio, price-book value, earnings per share, debt to equity ratio, return on assets, and the net profit margin as well as the dividend policy. This study aims to reveal the effect of the financial performance and the dividend policy on stock prices in the property and real estate sector in the Indonesia Stock Exchange in 2013.
The method used in this research is explanatory. This research was conducted on the financial statements data of the company's annual publications to property and real estate sector on the Indonesian Stock Exchange from 2013 containing information on financial performance, dividend policy and stock prices. To analyze the research data, used paired sample t-test and multiple linear regression analysis. Based on results of the analysis of paired sample t-test showed that there is no significant change in the stock price that occurred in the period before publication, publication date and the period after the publication of the financial statements on the company's property and real estate sector in the Indonesia Stock Exchange in 2013. Based on the results of the regression analysis of Multiple linear shows that financial performance and dividend policy simultaneously positive effect on the company's stock price on the company's property and real estate in the Indonesia Stock Exchange in 2013. Partially price earnings ratio, price-book value, earnings per share positive effect on stock prices. Return on assets negatively affect stock prices. Debt to equity ratio, net profit margin and dividend policy does not affect the company's stock price and the real estate property sector in Indonesia Stock Exchange in 2013.
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Keywords
financial performance, price earnings ratio, price-book value, earnings per share, debt to equity ratio, return on assets, net profit margin, debt to equity ratio, dividend policy, stock prices