PENGARUH PRICE TO BOOK VALUE (PBV), PRICE EARNING RATIO (PER) DAN DEBT TO EQUITY RATIO (DER) TERHADAP RETURN SAHAM PADA INDUSTRI REAL ESTATE DAN PROPERTY YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2009-2013

Abstract

Penelitian ini bertujuan untuk untuk menganalisis pengaruh Price to Book Value (PBV), Price Earning Ratio (PER) dan Debt to Equity Ratio (DER) terhadap Return Saham perusahaan. Penelitian ini dilakukan pada perusahaan pada industri real estate and property yang terdaftar di Bursa Efek Indonesia periode 2009 sampai 2013. Pengambilan sampel dilakukan dengan teknik Purposive Sampling, yang didasarkan pada perusahaan industri Real Estate and Property yang secara konsisten terdaftar di Bursa Efek Indonesia selama periode amatan 2009-2013, menggunakan laporan keuangan yang memiliki tahun buku berakhir tanggal 31 Desember, dan data keuangan yang dibutuhkan dalam penelitian ini diperoleh di laporan keuangan selama kurun waktu penelitian tahun 2009 sampai 2013. Jenis data yang digunakan dalam penelitian adalah data sekunder. Metode pengumpulan data dilakukan dengan menggunakan dokumentasi. Teknik analisis data menggunakan analisis regresi linear berganda dengan bantuan program SPSS versi 19.00 Hasil penelitian menunjukkan bahwa (1) Price to Book Value (PBV) tidak berpengaruh signifikan terhadap return saham, (2) Price Earning Ratio (PER) berpengaruh signifikan terhadap return saham, (3) Debt to Equity Ratio (DER) tidak berpengaruh signifikan terhadap return saham.
Kata Kunci : Price to Book Value (PBV), Price Earning Ratio (PER), Debt to Equity Ratio (DER) dan return saham.

The study aimed at analyzing the effect of price to book value (PBV), price Earning Ratio (PER) dan Debt to Equity ratio (DER) on the company’s stock Return. The study was conducted on the real estate and property companies listed in the Indonesia stock exchange during the period of 2009-2013. The samples were determined by using purposive sampling technique, which was made based on the companies listed consistently in the Indonesia Stock Exchange during the period of observation 2009-2013, by using the financial report with the financial year ended on 31 Desember. The financial data in this study obtained from financial report during the period of 2009-2013. There were all in the forms of secondary data collected by using documentation method. The analysis was made by using multiple linear regression supported by SPSS version 19. The results indicated that (1) Price to Book Value (PBV had) no significant effect on the stock returns, (2) Price Earning Ratio (PER) had a significant effect on the stock returns, ( 3) Debt to Equity Ratio (DER) had no significant effect on the stock returns.
keyword : Price to Book Value (PBV), Price Earning Ratio (PER), Debt to Equity Ratio (DER) and returns saham.