PENGARUH RETURN ON ASSETS (ROA), RETURN ON EQUITY (ROE) DAN NET PROFIT MARGIN (NPM) TERHADAP HARGA SAHAM PADA INDUSTRI CONSUMER GOODS YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2013-2014
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Date
2015
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Tesis Program Magister Management Universitas Widyatama
Abstract
The purpose of this research is to obtain empirical evidence about the effect of Return On Assets (ROA), Return On Equity (ROE), and Net Profit Margin (NPM) to stock price in consumers goods industry and determine which of the profitability ratios having powerful effect to the stock price. The stock price is a reflection of the investment decisions, financing (including dividend policy) and asset management.
This research is using secondary data, such as the financial reports, annual reports and other related information of consumers goods industry listed in Indonesian Stock Exchange which sample were taken from 34 companies for the period of 2013 to 2014, and the choosing of these samples was based on the purposive sampling method.
Multiple regression analysis is used to test the effect of Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM) to the company’s stock price. Refer to classical assumption test consists of normality, multicoloniairity, autocorrelation and heterokedastisitas test show that the data are normally distributed, there is no multicolinearity, autocorrelation, and heteroskedasitas, so that data can be used in the analysis model. Multiple regression analysis result show that Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM) significantly effect to the company’s stock price as simultaneously, but as partial, only return on assets (ROA) have a positive and significant effect to the company’s stock prices, while the return on equity (ROE), and net profit margin (NPM) have a negative effect and not significant to the company’s stock prices.
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Keywords
ROA, ROE, NPM, Stock Prices