daftar isi - welcome to unissula repositoryrepository.unissula.ac.id/9257/3/3. daftar isi.pdfxii...

v

DAFTAR ISI

HALAMAN JUDUL ................................................................................................ i

HALAMAN PENGESAHAN ................................................................................. ii

HALAMAN PERSETUJUAN ............................................................................... iii

PERNYATAAN KEASLIAN SKRIPSI ................................................................ iv

MOTTO.................................................................................................................... v

KATA PENGANTAR ........................................................................................... vi

DAFTAR ISI ............................................................................................................ x

DAFTAR TABEL ................................................................................................. xii

DAFTAR GAMBAR ........................................................................................... xiii

DAFTAR LAMPIRAN ........................................................................................ xiv

ABSTRACT ........................................................................................................... xv

ABSTRAKS ......................................................................................................... xvi

BAB I PENDAHULUAN ........................................................................................ 1

1.1 Latar Belakang Masalah ....................................................................... 1

1.2 Rumusan Masalah ................................................................................ 8

1.3 Tujuan Penelitian.................................................................................. 9

1.4 Manfaat Penelitian.............................................................................. 10

BAB II KAJIAN PUSTAKA ................................................................................. 11

2.1 Landasan Teori ................................................................................... 11

2.1.1 Pasar Modal .............................................................................. 11

2.1.2 Investasi .................................................................................... 12

2.1.3 Saham........................................................................................ 13

2.1.4 Harga Saham ............................................................................. 14

2.1.4.1 Pengertian Harga Saham............................................. 14

2.1.4.2 Macam-macam Harga Saham ..................................... xv

2.1.4.3 Penilaian Harga Saham ............................................... 15

2.1.4.4 Faktor-faktor Yang Mempengaruhi Harga Saham ...... 17

2.1.5 Profitabilitas .............................................................................. 22

2.1.5.1 Pengertian Profitabilitas ............................................. 22

2.1.5.2 Faktor-faktor Yang Mempengaruhi Profitabilitas ....... 23

x

2.1.5.3 Indikator Profitabilitas ................................................ 28

2.1.6 Likuiditas .................................................................................. 28

2.1.7 Leverage.................................................................................... 30

2.1.8 Perputaran Aktiva ..................................................................... 31

2.2 Pengembangan Hipotesis ................................................................... 32

2.2.1 Pengaruh Leverage terhadap Harga Saham .............................. 32

2.2.2 Pengaruh Perputaran Aktiva terhadap Harga Saham ................ 33

2.2.3 Pengaruh Profitabilitas pada Hubungan Leverage terhadap

Harga Saham ...................................................................................... 34

2.2.4 Pengaruh Profitabilitas pada Hubungan Perputaran Aktiva

terhadap Harga Saham .............................................................. 34

2.2.5 Pengaruh Likuiditas pada Hubungan Perputaran Aktiva terhadap

Harga Saham ............................................................................. 35

2.3 Model Empirik .................................................................................... 37

BAB III METODE PENELITIAN......................................................................... 38

3.1 Jenis Penelitian ................................................................................... 38

3.2 Populasi dan Sampel .......................................................................... 38

3.3 Jenis dan Sumber Data ....................................................................... 39

3.4 Metode Pengumpulan Data ................................................................ 39

3.5 Variabel Penelitian ............................................................................. 40

3.5.1 Variabel Independen / Bebas ( X )............................................ 40

3.5.2 Variabel Dependen / Terikat ( Y ) ............................................ 40

3.5.3 Variabel Moderasi ( Z ) ............................................................ 40

3.6 Teknik Analisis Data .......................................................................... 42

3.6.1 Uji Asumsi Klasik ..................................................................... 42

3.6.2 Analisis Regresi ........................................................................ 44

3.6.3 Uji Hipotesis ............................................................................. 46

3.6.4 Uji Koefisien Determinasi (R2)................................................. 46

BAB IV HASIL PENELITIAN DAN PEMBAHASAN ....................................... 48

4.1 Deskripsi Objek Penelitian ................................................................. 48

4.2 Analisis Data dan Pengujian Hipotesis .............................................. 48

v

4.2.1 Analisis Deskriptif .................................................................... 48

4.2.2 Analisis Statistik ....................................................................... 59

4.2.2.1 Uji Asumsi Klasik ....................................................... 59

4.2.2.2 Hasil Uji Hipotesis...................................................... 64

4.2.2.3 Uji t ............................................................................. 68

4.3 Pembahasan ........................................................................................ 74

BAB V PENUTUP ................................................................................................. 81

5.1. Simpulan............................................................................................. 81

5.2. Saran ................................................................................................... 82

5.3. Keterbatasan Penelitian ...................................................................... 83

DAFTAR PUSTAKA ............................................................................................ 84

LAMPIRAN ........................................................................................................... 87

xii

DAFTAR TABEL

Tabel 1.1 Harga Saham Perusahaan Sektor Farmasi Yang Terdaftar di Bursa Efek

Indonesia (BEI) Periode 2012 - 2015 ...................................................... 2

Tabel 3.1 Variabel Operasional Penelitian............................................................. 41

Tabel 4.1 Sampel Penelitian ................................................................................... 48

Tabel 4.2 Analisis Deskriptif Variabel Leverage ................................................... 49

Tabel 4.3 Rata - rata DER tahun 2012 - 2015 (X) ................................................. 50

Tabel 4.4 Analisis Deskriptif Variabel Perputaran Aktiva .................................... 51

Tabel 4.5 Rata - rata TATO tahun 2012 - 2015 (X)............................................... 52

Tabel 4.6 Analisis Deskriptif Variabel Profitabilitas ............................................. 53

Tabel 4.7 Rata - rata ROE tahun 2012 - 2015 (%) ................................................. 54

Tabel 4.8 Analisis Deskriptif Variabel Likuiditas ................................................. 55

Tabel 4.9 Rata - rata CR tahun 2012 - 2015 (%) ................................................... 56

Tabel 4.10 Analisis Deskriptif Variabel Harga Saham .......................................... 57

Tabel 4.11 Rata - rata Harga Saham tahun 2012 - 2015 (Rp) ................................ 58

Tabel 4.12 Hasil Uji Normalitas ............................................................................ 60

Tabel 4.13 Hasil Uji Multikolinieritas ................................................................... 61

Tabel 4.14 Hasil Uji Glejser................................................................................... 63

Tabel 4.15 Hasil Uji Autokorelasi ......................................................................... 64

Tabel 4.16 Hasil Analisis Regresi Linier Berganda Model 1 ................................ 65

Tabel 4.17 Hasil Analisis Regresi Linier Berganda Model 2 ................................ 66

Tabel 4.18 Hasil Uji Statistik Hipotesis 1 dan 2 .................................................... 69

Tabel 4.19 Hasil Uji Moderating ........................................................................... 70

Tabel 4.20 Hasil Uji Koeifisien Determinasi Model 1 .......................................... 73

Tabel 4.21 Hasil Uji Koefisien Determinasi Model 2............................................ 73

xiii

DAFTAR GAMBAR

Gambar 2.1 Kerangka Konseptual ......................................................................... 37

Gambar 4.1 Grafik Scatterplot ........................................................................... 62

Gambar 4.2 Hasil Analisis Jalur Antar Variabel .................................................... 68

xiv

DAFTAR LAMPIRAN

Lampiran 1. Daftar Sampel Perusahaan Sektor Farmasi Yang Terdaftar di BEI

Tahun 2012-2015. ............................................................................. 88

Lampiran 2 Hasil Perhitungan Variabel Leverage Perusahaan Farmasi di Bursa

Efek Indonesia Periode Tahun 2012 – 2015 ..................................... 89

Lampiran 3 Hasil Perhitungan Variabel Peprutaran Aktiva Perusahaan Farmasi di

Bursa Efek Indonesia Periode Tahun 2012 – 2015 ........................... 91

Lampiran 4 Hasil Perhitungan Variabel Profitabilitas Perusahaan Farmasi di

Bursa Efek Indonesia Periode Tahun 2012 – 2015 ........................... 93

Lampiran 5 Hasil Perhitungan Variabel Likuiditas Perusahaan Farmasi di Bursa

Efek Indonesia Periode Tahun 2012 – 2015 ..................................... 95

Lampiran 6 Hasil Perhitungan Variabel Harga Saha Perusahaan Farmasi di Bursa

Efek Indonesia Periode Tahun 2012 – 2015 ..................................... 97

Lampiran 7 TABULASI DATA ............................................................................ 99

Lampiran 8 HASIL OLAH DATA SPSS ............................................................ 100