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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
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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
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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
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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
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DAFTAR GAMBAR
Gambar 2.1 Kerangka Konseptual ......................................................................... 37
Gambar 4.1 Grafik Scatterplot ........................................................................... 62
Gambar 4.2 Hasil Analisis Jalur Antar Variabel .................................................... 68
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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