Analisis Pengaruh EPS, ROA, ROE, EVA, dan MVA Terhadap Harga Saham Pada Perusahaan Subsektor Farmasi yang Terdaftar di Bursa Efek Indonesia

Abstract

The study entitled “Analysis of EPS, ROA, ROE, EVA and MVA Effect to The Stock Price of Pharmaceuticals Subsector Companies listed on the Indonesia Stock Exchange”,. This study was discussed the effect that was given by the Earning Per Share, Return on Assets, Return on Equity, Economic Value Added and Market Value Added variables which estimate was the indicator of the company profitability to the stock price of the pharmaceutical subsector companies listed on the Indonesia Stock Exchange in 2010 -2014. The purpose of this study were: 1) To determine simultaneously whether EPS, ROA, ROE, EVA and MVA have significant effect to the stock prices of pharmaceutical subsector companies listed on the Indonesia Stock Exchange in 2010 until 2014, 2) To determine partially whether EPS, ROA, ROE, EVA, and MVA have significant effect to the stock price of pharmaceutical subsector companies listed on Indonesia stock Exchange in 2010 until 2014. The sampling was taken by using purposive sampling method that was obtained 6 companies which have the criteria. The data analysis was used multiple linear regression analysis techniques with the assumption of normality, autocorrelation, multicollinearity, and heteroscedasticity. The conclusion of this study based on the simultaneous test (F test) and partial test (t test) with significance of 5%. Based on the analysis, we concluded that as simultaneously EPS, ROA, ROE, EVA and MVA variables have significant effect to the stock price with 65.8% coefficient of determination. It showed that 65.8% of stock price was explained by the five independent variables, and the rest was explained by other variables which was not included in this study. And based on partial test, only EPS variable has significant effect to the stock price, while ROA, ROE, EVA and MVA have no significant effect to the stock price. The suggestions for further study is to use other variables such as the company's external variables, currency exchange rates, inflation, interest rates, etc or other variables outside the company's profitability. Therefore, the result of this study showed that the profit is the main thing for companies and investors to achieve their respective goals.