Analysis of PER, DER, and ROA on the Textile Companies’ Performance Listed on Indonesian Stock Exchange
DOI:
https://doi.org/10.24002/kinerja.v25i1.4356Abstract
Securities trading is a way to attract public funds in this case investors to develop an economy where the fund is the capital that the company needs to expand its business. The purpose of this study is to find out how much influence price earning ratio, debt to equity ratio, and return on assets, together and partially significant on the share price of textile industry subsectors for the period 2005-2012. The study used classic assumption tests (normality tests, multicolinete tests, autocorroration tests, heteroskedasity tests), regression tests (F and t tests). The samples used were textile industry subsectors on the Indonesia Stock Exchange from 2005 to 2012. Variables used price earning ratio, debt to equity ratio, and ratio on asset as independent variables and share prices as dependent variables. The results of this study mention that price earning ratio, debt to equity ratio, and return on assets are influential together and partially significant to the share price of textile industry subsectors on the Indonesia Stock Exchange in 2005-2012.
Keywords: Price Earning Ratio (PER), Return on Asset (ROA), Debt to Equity Ratio (DER)
References
Aikaeli, J., 2008. Commercial Banks Efficiency in Tanzania. Bank of Tanzania Monetary and Financial Affairs Department. A Paper Presented in a CSAE Conference on “Economic Development in Africa”.
Angrawit, K., 2009. Analisis Pengaruh EPS, PER, ROE, FL, DER, ROA pada Harga Saham dan Dampaknya Terhadap Kinerja Perusahaan LQ45 yang Terdaftar di BEI periode 2005-2009.
Athanasius, T. 2012. Panduan Berinvestasi Saham. Jakarta: Media Computindo.
Claessens, S. and Hore, N. 2012. Foreign Banks: Trends, Impact and Financial Stability. IMF Working Paper, Research Department.
Darmadji, T and Fakhrudin. 2012. Pasar Modal di Indonesia. Edisi Ketiga. Jakarta: Salemba Empat.
Deitiana, T., 2014. Pengaruh Rasio Keuangan, Pertumbuhan Penjualan dan Deviden Terhadap Harga Saham.
Duncan, E. and Elliott, G. 2004. Efficiency, customer service and financial performance among Australian financial institutions. International Journal of Bank Marketing, 22(5), 319-342.
Fahmi, I. 2012. Pengantar Pasar Modal. Edisi Pertama. Bandung: Alfabeta.
Fullerton, R.R. and Wempe, W.F. 2009. Lean manufacturing, non‐financial performance measures, and financial performance. International Journal of Operations & Production Management, 29(3), 214-240.
Pratama, G.D.P., 2009. Pengaruh PBV, DER, EPS, DPR, dan ROA Terhadap Harga Saham (Studi Empiris pada Perusahaan Food and Beverage yang Terdaftar di BEI.
Ghozali, I., 2011. Aplikasi Analisis Multivariat Dengan Program IBM SPSS 19. Semarang: Badan Penerbit Universitas Diponegoro.
Hartono, J. 2010. Teori Portofolio dan Analisis Investasi. Edisi Ketujuh. Yogyakarta: BPFE.
Han W.P. and Sri Darma, G., 2018. Good Corporate Governance, Job Motivation, Organization Culture Which Impact Company Financial Performance. Jurnal Manajemen Bisnis, 15(3), 82-99.
Hendratno, S.A., 2019. Pengaruh Current Ratio, Debt to Asset Ratio, Debt to Equity Ratio, Return on Asset dan Price Earning Ratio Terhadap Harga Saham Pada Perusahaan Sub-Sektor Plastik dan Kemasan Yang Terdaftar Di Bursa Efek Indonesia (BEI) Tahun 2012-2016. e-Proceeding of Management, 6(1), 303.
Itabilah, E.A., 2013. Pengaruh CR, QR, NPM, ROA, EPS, DER, dan PBV terhadap Harga Saham Perusahaan Property dan Real Estate yang Terdaftar di Bursa Efek Indonesia (BEI).
Jecheche, P., 2012. Devidend Policy and Stock Price Volatility: a case of the Zimbabwe Stock Exchange.
Khan, K.I., Effect of divident on stock price. Proceedings of 2nd International Conference on Business Management (ISBN: 978-969-9368-06-6). University of Central Punjab, Lahore, Pakistan.
Khan, K.I, Aamir M., Qayyum, A., Nasir A. and Khan, M.I., 2011. Can Dividend Decisions Affect the Stock Prices? A cash of Dividend Paying Companies of KSE. International Research Journal of Finance and Economics. ISSN 1450-2887 Issue 76 (2011). University of Central Punjab, Lahore, Pakistan.
Kamaludin and Indriani, 2012. Manajemen Keuangan. Edisi Revisi. Bandung: CV. Mandar Maju.
Kumaraswamy, S., 2016. Impact of working capital on financial performance of gulf coorporation council firms. International Journal of Economics and Financial Issues, 6(3), 1136-1142, ISSN:2146-4138, available at http: www.ecojournals.com.
Lambey, R. 2013. Analisis Pengaruh Rasio Keuangan Terhadap Harga Saham pada Bank di BEI.
Lukman, S., 2011. Manajemen Keuangan Perusahaan. Jakarta: Raja Grafindo Persada.
Maditinos, D., Chatzoudes, D., Tsairidis, C. and Theriou, G., 2011. The impact of intellectual capital on firms' market value and financial performance. Journal of Intellectual Capital, Vol. 12 No. 1, pp. 132-151.
Martalena dan Malinda, 2011. Pengantar Pasar Modal. Edisi Pertama. Yogyakarta: Andi.
Molina‐Azorín, J.F., Claver‐Cortés, E., López‐Gamero, M.D. and Tarí, J.J. 2009. Green management and financial performance: a literature review. Management Decision, Vol. 47 No. 7, pp. 1080-1100.
Mosavi, S., Nekoueizadeh, S. & Ghaedi, M. 2012. A study of relations between intellectual capital components, market value and finance performance, African Journal of Business Management. 6(4), 1396-1403.
Najjar, O. K., 2008. Financial Analysis for Bank of Palestine & Jordan Ahli Bank (CAMEL Analysis). Retrieved from http://ssrn.com/abstract=1329588
Novasari, E. 2013. Pengaruh PER, EPS, ROA dan DER Terhadap Harga Saham Perusahaan Sub-Sektor Industri Textile Yang Go Public Di Bursa Efek Indonesia (BEI) Tahun 2009-2011.
Nwakaego, D.A., Ikechukwu, O.I., 2016. Management of Accounts Payable on the Financial Performance of Industrial/Domestic Manufacturing Companies in Nigeria. Journal of Humanities and Social Science, Vol.21, No.7, ISSN: 2279-0837.
Nyabuti, W.M., Benedict, A.O., 2014. The relationship between working capital management policy and financial performance of companies quotes at Nairobi securities exchange, Kenya. International Journal of Economics, Finance, and Management Sciences. 2(3): 212-219, doi: 110.11648/j.ijefm.20140203.12.
Parameswaran G, Meyer, M., Amara, L.A.N., Stanley, H.E., 2008. Inverse Cubic Law for The Distribution of Stock Price.
Pasaribu, R.B.F. 2008. Pengaruh Variabel Fundamental terhadap Harga Saham Perusahaan Manufaktur Go Public di Bursa Efek Indonesia periode 2003-2006.
Riyanto, B. 2010. Dasar-dasar Pembelanjaan Perusahaan. Yogyakarta: BPFE.
Safitri, A.L., 2013. Pengaruh Earning Per Share, Price Earning Ratio, Return on Asset, Debt to Equity Ratio dan Market Value Added Terhadap Harga Saham Dalam Kelompok Jakarta Islamic Index Tahun 2008-2011.
Said, R.M., Mohd, H.T. 2011. Performance and Financial Ratios of Commercial Banks in Malaysia and China.
Sartono, A., 2010. Manajemen Keuangan (Teori dan Aplikasi). Edisi keempat. Yogyakarta: BPFE.
Sondakh, F., Tommy, P. and Mangantar, M., 2015. Current Ratio, Debt to Equity Ratio, Return on Asset, Return on Equity Pengaruhnya Terhadap Harga Saham Pada Indeks LQ45 di BEI Periode 2010-2014. Jurnal EMBA, 3(2), 749-756.
Sugiyono. 2010. Metode Penelitian Kuantitatif Kualitatif dan R&D. Bandung: Alfabeta.
Sunariyah, 2011. Pengantar Pengetahuan Pasar Modal Edisi Keenam. Yogyakarta: UPP STIM YKPN.
Tandelilin, E., 2010. Portofolio dan Investasi. Edisi Pertama. Yogyakarta: Kanisius.
Watung, R.W, Ilat, V., 2016. Pengaruh Return on Asset (ROA), Net Profit Margin (NPM), dan Earning Per Share (EPS) Terhadap Harga Saham Pada Perusahaan Perbankan Di Bursa Efek Indonesia Periode 2011-2015. Jurnal EMBA Vol.4 No.2 Juni 2016, Hal. 518-529.
Zuliarni, S., 2012. Pengaruh Kinerja Keuangan Terhadap Harga Saham pada Perusahaan Mining and Mining Service di BEI.
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
