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UNIVERSITAS BHAYANGKARA JAKARTA RAYA

PENGARUH PROFITABILITAS DAN CURRENT RATIO

TERHADAP HARGA SAHAM PERUSAHAAN PADA SUB

SEKTOR KIMIA

(STUDI KASUS DI BURSA EFEK INDONESIA)

SKRIPSI

LIANA SAPITRI

201210315003

FAKULTAS EKONOMI

PROGRAM STUDI AKUNTANSI

JAKARTA

AGUSTUS 2016

i

UNIVERSITAS BHAYANGKARA JAKARTA RAYA

PENGARUH PROFITABILITAS DAN CURRENT RATIO TERHADAP

HARGA SAHAM PERUSAHAAN PADA SUB SEKTOR KIMIA

(STUDI KASUS DI BURSA EFEK INDONESIA)

SKRIPSI

Diajukan sebagai salah satu syarat untuk memperoleh gelar Sarjana

LIANA SAPITRI

201210315003

FAKULTAS EKONOMI

PROGRAM STUDI AKUNTANSI

JAKARTA

AGUSTUS 2016

Pengaruh Profitabilitas..., Liana, Fakultas Ekonomi 2016


UABOffice16

Typewritten text

13 Agustus 2016

vii Universitas Bhayangkara Jaya

ABSTRAK

Nama : Liana Sapitri

Program Studi : Akuntansi

Judul : Pengaruh Profitabilitas dan Current Ratio terhadap Harga

Saham Perusahaan pada Sub Sektor Kimia

Penelitian ini menggunakan sample jenuh dalam pengumpulan data. Dengan

menggunakan semua perusahaan yang terdaftar di Bursa Efek Indonesia yang

tercatat sebagai perusahaan Sub Sektor Kimia sebanyak 10 perusahaan. Jenis data

yang digunakan merupakan data sekunder dan teliti dengan menggunakan metode

deskriptif. Hipotesis diuji dengan menggunkan teknik analisis regresi linier

berganda dengan tingkat standar signifikansi sebesar 0,05 dengan bantuan

program SPSS versi 20.0.

Hasil penelitian menunjukkan bahwa: Return On Assets pada perusahaan Sub

Sektor Kimia berpengaruh signifikan terhadap Harga Saham (penutup).

Dibuktikan dengan tingkat signifikasi sebesar 0,012 < 0,05. Current Ratio pada

perusahaan Sub Sektor Kimia tidak berpengaruh terhadap Harga Saham

(penutup). Dibuktikan dengan tingkat signifikansi sebesar 0.581 > 0,05. Return

On Assets dan Current Ratio secara bersama-sama berpengaruh terhadap Harga

Saham (penutup). Dibuktikan dengan tingkat signifikansi sebesar 0,015 < 0,05.

Kata Kunci : Return On Assets, Current Ratio, Harga Saham (penutup)


viii Universitas Bhayangkara Jaya

ABSTRACT

Name : Liana Sapitri

Study Program : Accounting

Title : The Influence of Profitability and Current Ratio On Stock

Value in the subsector of Chemistry

The research used census sample in its data collection by using ten company’s

names registered at Indonesia Stock Exchange as the subsector of chemical

company. The kind of data used is secondary data with descriptive method. The

hypothesis was tested in double linear regression technique with significant level

of 0.05 by means of SPSS program 20.0 version.

The result of the research showed that Return on Assets in the subsector of

chemistry had a significant influence on stock value. It was proved by the

significant level of 0.012 < 0.05. Current ratio in the chemical company does not

influence stock value proved by the obtained significant level of 0.581 > 0.05.

Return on Assets and Current Ratio jointly influence on stock value. Evidenced by

the level of significance of 0.015 < 0.05 .

Key word: Return on Assets, Current Ratio, stock value (closing)


ix Universitas Bhayangkara Jaya

DAFTAR ISI

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

HALAMAN PERSETUJUAN ......................................................................... ii

HALAMAN PERNYATAAN ORISINILITAS .............................................. iii

HALAMAN PENGESAHAN .......................................................................... iv

KATA PENGANTAR ..................................................................................... v

LEMBAR PERSETUJUAN PUBLIKASI KARYA ILMIAH ........................ vi

ABSTRAK ....................................................................................................... vii

DAFTAR ISI .................................................................................................... ix

DAFTAR GAMBAR ....................................................................................... xi

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

DAFTAR LAMPIRAN .................................................................................... xiii

1. PENDAHULUAN

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

1.2 Identifikasi Masalah ........................................................................... 9

1.3 Batasan Masalah ................................................................................ 9

1.4 Rumusan Masalah .............................................................................. 9

1.5 Tujuan Penelitian ............................................................................... 9

1.6 Manfaat Penelitian ............................................................................. 9

1.7 Sistematika Penulisan ........................................................................ 10

2. TINJAUAN PUSTAKA

2.1 Landasan Teori ................................................................................... 12

2.1.1 Saham ....................................................................................... 12

2.1.1.1 Saham Preferen ........................................................... 12

2.1.1.2 Saham Biasa ............................................................... 13

2.1.1.3 Saham Treasuri ........................................................... 13

2.1.2 Harga Saham ............................................................................ 13

2.1.3 Analisis Harga Saham .............................................................. 15

2.1.4 Pasar Modal ............................................................................. 16

2.1.4.1 Manfaat Keberadaan Pasar Modal ............................ 17

2.1.4.2 Instrumen Pasar Modal ............................................. 19

2.1.5 Investasi ................................................................................... 24

2.1.5.1 Return dan Resiko Sekuritas ..................................... 25

2.1.6 Profitabilitas ............................................................................ 26

2.1.6.1 Return On Assets ....................................................... 28

2.1.7 Current Ratio ........................................................................... 28

2.1.8 Laporan Keuangan ................................................................... 30

2.1.8.1 Sifat Laporan Keuangan ............................................ 32

2.1.8.2 Karakteristik Kualitatif Laporan Keuangan .............. 32

2.1.8.3 Pengukuran Unsur Laporan Keuangan ..................... 33

2.1.8.4 Keterbatasan Laporan Keuangan .............................. 34

2.2 Penelitian Terdahulu .......................................................................... 34

2.3 Kerangka Pemikiran ........................................................................... 38


x Universitas Bhayangkara Jaya

2.4 Hipotesis ............................................................................................ 40

3. METODELOGI PENELITIAN

3.1 Desain Penelitian ............................................................................... 41

3.2 Tahapan Penelitian ............................................................................. 41

3.3 Jenis Data, Populasi dan Sampel........................................................ 43

3.3.1 Jenis Data ................................................................................. 43

3.3.2 Populasi .................................................................................... 43

3.3.3 Sampel...................................................................................... 43

3.4 Metode Analisis Data ......................................................................... 44

3.5 Teknik Pengolahan Data yang digunakan .......................................... 46

4. ANALISIS DAN PEMBAHASAN

4.1 Gambaran Umum Perusahaan ............................................................ 49

4.1.1 Bursa Efek Indonesia (BEI) ..................................................... 49

4.1.2 PT Barito Pacifik Tbk .............................................................. 52

4.1.3 PT Budi Acid Jaya Tbk ............................................................ 53

4.1.4 PT Duta Pertiwi Nusantara Tbk ............................................... 55

4.1.5 PT Ekadharma International Tbk ............................................. 57

4.1.6 PT Eterindo Wahanatama Tbk ................................................. 58

4.1.7 PT Intawijaya International Tbk .............................................. 60

4.1.8 PT Sorini Agro Asia Corporindo Tbk ...................................... 62

4.1.9 PT Indo Acidatama Tbk ........................................................... 63

4.1.10 PT Chandra Asri Petrochemical Tbk ...................................... 65 4.1.11 Unggul Indah Cahaya Tbk ...................................................... 67

4.2 Hasil Penelitian .................................................................................. 69

4.2.1 Deskriptif ................................................................................. 69

4.2.2 Hipotesis 1 ............................................................................... 71

4.2.2.1 Uji Asumsi Klasik ..................................................... 71

4.2.2.2 Uji Regresi ................................................................ 77

4.2.3 Hipotesis 2 ............................................................................... 78


4.2.3.2 Uji Regresi ................................................................ 84

4.2.4 Hipotesis 3 ............................................................................... 84


4.2.4.2 Uji Regresi ................................................................ 90

4.3 Pembahasan ........................................................................................ 92

5. KESIMPULAN DAN SARAN

5.1 Kesimpulan ........................................................................................ 94

5.2 Saran .................................................................................................. 97

DAFTAR REFERENSI

RIWAYAT HIDUP


xi Universitas Bhayangkara Jaya

DAFTAR GAMBAR

Gambar 1.1 Grafik Rasio Utang terhadap Ekuitas ........................................... 3

Gambar 2.1 Pihak-pihak yang Terkait dengan Pasar Modal............................ 18

Gambar 2.2 Kerangka Penelitian ..................................................................... 38

Gambar 2.3 Kerangka Pemikiran ..................................................................... 39

Gambar 4.1 Grafik Uji Normalitas................................................................... 73

Gambar 4.2 Hasil Uji Heterokedasitas ............................................................. 75

Gambar 4.3 Hasil Kurva Durbin Watson ......................................................... 77




Gambar 4.7 Hasil Uji Heterokedasitas ............................................................. 88



xii Universitas Bhayangkara Jaya

DAFTAR TABEL

Tabel 2.1 Penelitian Terdahulu ........................................................................ 34

Tabel 4.1 Sejarah Pencatatan Saham BRPT .................................................... 53

Tabel 4.2 Dewan Komisaris dan Direksi BRPT .............................................. 53

Tabel 4.3 Sejarah Pencatatan Saham BUDI ................................................... 54

Tabel 4.4 Dewan Komisaris dan Direksi BUDI............................................. 55

Tabel 4.5 Sejarah Pencatatan Saham DPNS .................................................... 56

Tabel 4.6 Dewan Komisaris dan Direksi DPNS .............................................. 56

Tabel 4.7 Sejarah Pencatatan Saham EKAD ................................................... 58

Tabel 4.8 Dewan Komisaris dan Direksi EKAD ............................................. 58

Tabel 4.9 Sejarah Pencatatan Saham ETWA ................................................... 59

Tabel 4.10 Dewan Komisaris dan Direksi ETWA ........................................... 60

Tabel 4.11 Sejarah Pencatatan Saham INCI .................................................... 61

Tabel 4.12 Dewan Komisaris dan Direksi INCI .............................................. 61

Tabel 4.13 Sejarah Pencatatan Saham SOBI ................................................... 63

Tabel 4.14 Dewan Komisaris dan Direksi SOBI ............................................ 63

Tabel 4.15 Sejarah Pencatatan Saham SRSN .................................................. 64

Tabel 4.16 Dewan Komisaris dan Direksi SRSN ........................................... 65

Tabel 4.17 Sejarah Pencatatan Saham TPIA ................................................... 66

Tabel 4.18 Dewan Komisaris dan Direksi TPIA ............................................. 67

Tabel 4.19 Sejarah Pencatatan Saham UNIC ................................................... 68

Tabel 4.20 Dewan Komisaris dan Direksi UNIC ............................................. 69

Tabel 4.21 Statistik Deskriptif ......................................................................... 70

Tabel 4.22 Hasil Uji Normalitas ...................................................................... 72

Tabel 4.23 Hasil Uji Multikolineritas .............................................................. 74

Tabel 4.24 Hasil Uji Autokorelitas .................................................................. 76

Tabel 4.25 Hasil Uji t ....................................................................................... 77


Tabel 4.27 Hasil Uji Multikolinearitas ............................................................. 81

Tabel 4.28 Hasil Uji Heterokedasitas............................................................... 82

Tabel 4.29 Hasil Uji Autokorelasi ................................................................... 83

Tabel 4.30 Hasil Uji t ....................................................................................... 84


Tabel 4.32 Hasil Uji Multikolineritas .............................................................. 87

Tabel 4.33 Hasil Uji Autokorelasi .................................................................... 89

Tabel 4.34 Hasil Uji Koefisien Determinasi .................................................... 91

Tabel 4.35 Hasil Uji f ....................................................................................... 91


xiii Universitas Bhayangkara Jaya

DAFTAR LAMPIRAN

Lampiran 1 Data Keuangan Perusahaan Yang diolah 2015






Lampiran 7 Data Sebelum melakukan Outlier

Lampian 8 Data Sesudah melakukan Outlier dan Kurs Tengah BI

Lampian 9 Hasil Uji SPSS versi 20.0


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