PENGARUH LEVERAGE TERHADAP EARNING PER SHARE DAN DAMPAKNYA PADA HARGA SAHAM DI SUBSEKTOR PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

Penelitian ini bertujuan untuk menguji pengaruh (1) leverage dan earning per share terhadap harga saham, (2) leverage terhadap earning per share, (3) leverage terhadap harga saham, dan (4) earning per share terhadap harga saham. Desain penelitian yang digunakan adalah kuantitatif kausal. Subjek penelitian adalah perusahaan Subsektor Property dan Real Estate yang terdaftar di Bursa Efek Indonesia, dan objek penelitian adalah leverage, earning per share, dan harga saham. Data dikumpulkan dengan pencatatan dokumen, dan dianalisis dengan analisis jalur (path analysis). Hasil penelitian menunjukkan bahwa (1) leverage dan earning per share berpengaruh terhadap harga saham (2) leverage berpengaruh negatif terhadap earning per share (3) leverage berpengaruh negatif terhadap harga saham (4) earning per share berpengaruh positif terhadap harga saham.
Kata Kunci : earning per share, harga saham, leverage

This study was aimed to test the effect of (1) leverage and earning per share toward the stock price, (2) leverage toward the earning per share, (3) leverage toward the stock price, and (4) earning per share toward the stock price. The design of this study was causal quantitative. The subjects of this study were the Property Sub-Sector Company and Real Estate listed in Bursa Efek Indonesia and the objects of this study were leverage, earning per share and stock price. The data were obtained by using document and were analyzed by using path analysis. The result showed that 1) leverage and earning per share had effect on stock price 2) leverage had negative effect on earning per share 3) leverage had negative effect on stock price, 4) earning per share had positive effect on stock price.
keyword : earning per share, stock price, leverage