PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN, DAN PROFITABILITAS TERHADAP HARGA SAHAM PERIODE 2019-2021 (Studi Empiris Perusahaan Sub Sektor Makanan dan Minuman yang Tercatat di BEI)
Article Sidebar
Main Article Content
Abstract
Economic growth in Indonesia is influenced by various things, one of which is the capital market. The capital market is part of the financial market and a meeting place for investors and companies that have gone public. The Indonesian economy greatly influences the price of shares in circulation. This research aims to determine the influence of capital structure, company size and profitability on share prices in food and beverage companies listed on the IDX for the 2019-2021 period. This type of research is qualitative which is used to examine a predetermined population or sample. In this research, samples were taken using a purposive sampling technique based on the determined characteristics of 21 food and beverage companies listed on the Indonesia Stock Exchange (BEI) for the 2017-2019 period. The analysis techniques used are descriptive statistics, classical assumption test, multiple linear regression analysis, t test, F test, R test. research shows partial calculations that capital structure has a significant value (0.007 ≤ 0.05), meaning that capital structure influences share prices, company size has a significant value (0.000 ≤ 0.05), meaning that company size influences share prices, profitability has a significant value (0.367 ≥ 0.05), meaning that profitability has no effect on share prices. Meanwhile, the results of the simultaneous test show that together the capital structure, company size and profitability variables have a significant value of (0.000 ≤ 0.05), which means they have an influence on stock prices in Indonesia.
Article Details
Retained Rights/Terms and Conditions of Publication
1. As an author you (or your employer or institution) may do the following:
- make copies (print or electronic) of the article for your own personal use, including for your own classroom teaching use;
- make copies and distribute such copies (including through e-mail) of the article to research colleagues, for the personal use by such colleagues (but not commercially or systematically, e.g. via an e-mail list or list server);
- present the article at a meeting or conference and to distribute copies of the article to the delegates attending such meeting;
- for your employer, if the article is a ‘work for hire’, made within the scope of your employment, your employer may use all or part of the information in the article for other intra-company use (e.g. training);
- retain patent and trademark rights and rights to any process, procedure, or article of manufacture described in the article;
- include the article in full or in part in a thesis or dissertation (provided that this is not to be published commercially);
- use the article or any part thereof in a printed compilation of your works, such as collected writings or lecture notes (subsequent to publication of the article in the journal); and prepare other derivative works, to extend the article into book-length form, or to otherwise re-use portions or excerpts in other works, with full acknowledgement of its original publication in the journal;
- may reproduce or authorize others to reproduce the article, material extracted from the article, or derivative works for the author’s personal use or for company use, provided that the source and the copyright notice are indicated, the copies are not used in any way that implies RCEPM-LIPI endorsement of a product or service of any employer, and the copies themselves are not offered for sale.
All copies, print or electronic, or other use of the paper or article must include the appropriate bibliographic citation for the article’s publication in the journal.
2. Requests from third parties
Although authors are permitted to re-use all or portions of the article in other works, this does not include granting third-party requests for reprinting, republishing, or other types of re-use. Requests for all uses not included above, including the authorization of third parties to reproduce or otherwise use all or part of the article (including figures and tables), should be referred to RCEPM-LIPI by going to our website athttp://telimek.lipi.go.id.
3. Author Online Use
- Personal Servers. Authors and/or their employers shall have the right to post the accepted version of articles pre-print version of the article, or revised personal version of the final text of the article (to reflect changes made in the peer review and editing process) on their own personal servers or the servers of their institutions or employers without permission from RCEPM-LIPI, provided that the posted version includes a prominently displayed RCEPM-LIPI copyright notice and, when published, a full citation to the original publication, including a link to the article abstract in the journal homepage. Authors shall not post the final, published versions of their papers;
- Classroom or Internal Training Use. An author is expressly permitted to post any portion of the accepted version of his/her own articles on the author’s personal web site or the servers of the author’s institution or company in connection with the author’s teaching, training, or work responsibilities, provided that the appropriate copyright, credit, and reuse notices appear prominently with the posted material. Examples of permitted uses are lecture materials, course packs, e-reserves, conference presentations, or in-house training courses;
- Electronic Preprints. Before submitting an article to an MEV Journal, authors frequently post their manuscripts to their own web site, their employer’s site, or to another server that invites constructive comment from colleagues. Upon submission of an article to MEV Journal, an author is required to transfer copyright in the article to RCEPM-LIPI, and the author must update any previously posted version of the article with a prominently displayed RCEPM-LIPI copyright notice. Upon publication of an article by the RCEPM-LIPI, the author must replace any previously posted electronic versions of the article with either (1) the full citation to the work with a Digital Object Identifier (DOI) or link to the article abstract in MEV journal homepage, or (2) the accepted version only (not the final, published version), including the RCEPM-LIPI copyright notice and full citation, with a link to the final, published article in journal homepage.
4. Articles in Press (AiP) service
RCEPM-LIPI may choose to publish an abstract or portions of the paper before we publish it in the journal. Please contact our Production department immediately if you do not want us to make any such prior publication for any reason, including disclosure of a patentable invention.
5. Author/Employer Rights
If you are employed and prepared the article on a subject within the scope of your employment, the copyright in the article belongs to your employer as a work-for-hire. In that case, RCEPM-LIPI assumes that when you sign this Form, you are authorized to do so by your employer and that your employer has consented to the transfer of copyright, to the representation and warranty of publication rights, and to all other terms and conditions of this Form. If such authorization and consent has not been given to you, an authorized representative of your employer should sign this Form as the Author.
6. RCEPM-LIPI Copyright Ownership
It is the formal policy of RCEPM-LIPI to own the copyrights to all copyrightable material in its technical publications and to the individual contributions contained therein, in order to protect the interests of the RCEPM-LIPI, its authors and their employers, and, at the same time, to facilitate the appropriate re-use of this material by others. RCEPM-LIPI distributes its technical publications throughout the world and does so by various means such as hard copy, microfiche, microfilm, and electronic media. It also abstracts and may translate its publications, and articles contained therein, for inclusion in various compendiums, collective works, databases and similar publications
References
A., D. A., & Andarini, S. (2017, April). PENGARUH PROFITABILITAS TERHADAP HARGA SAHAM PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA. Jurnal Bisnis Indonesia, 12.
Agus Harjito dan Martono, 2011. Manajemen Keuangan, Edisi Kedua, Cetakan Pertama,
Penerbit EKONISIA, Yogyakarta.
Agus Sartono, 2008, Manajemen Keuangan Teori dan Aplikasi, Edisi Empat, BPFE; Yogyakarta.
Arifin, Nita Firiani. Silviana Agustami. 2016. Pengaruh Likuiditas, Solvabilitas, Profitabilitas, Rasio Pasar, dan Profitabilitas Terhadap Harga Saham (Studi Pada Perusahaan Subsektor Perkebunan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2010-2014. Jurnal Akuntansi dan Keuangan. Vol 4 No 3 [1189-1210].
Arthur. Keown, John D. Martin, J. William Petty, David F. Scott, JR, 2005, Financial Management Principles and Applications, New Jersey.
Aziz, M.2015. Manajemen Investasi : Fundamental, Teknikal, Perilaku Investor dan Return Saham. Yogyakarta: Deepublish.
Brigham, E. F. dan J.F. Houston. 2019. Dasar-dasar Manajemen Keuangan. Edisi Empat Belas. Buku Dua. Salemba Empat. Jakarta.
Brigham, F dan Houston, J. 2001. Dasar-Dasar Manajemen Keuangan. Edisi 8, Buku 2. Jakarta: Salemba Empat.
Brigham, Eugene F. dan Houston, Joel F. 2011. Dasar-dasar Manajemen. Keuangan Terjemahan. Edisi 10. Jakarta: Salemba Empat
Brigham, Eugene F, Joel F Houston, 2014, Dasar-Dasar Manajemen Keuangan, Edisi 11 Buku 1, Jakarta: Salemba Empat.
Candra, D., & Wardani, E. (2021). Pengaruh profitabilitas, likuiditas, solvabilitas, rasio aktivitas dan pertumbuhan perusahaan terhadap harga saham. JURNAL MANAJEMEN, 12.
Churcill, S. E., & Ardillah, K. (2019). PENGARUH PROFITABILITAS, PROFITABILITAS, DAN STRUKTUR AKTIVA TERHADAP HARGA SAHAM. Jurnal Akuntansi dan Keuangan, 14.
Crutchley, C. E., & Hansen, R. S. (1989). A test of the agency theory of managerial ownership, corporate leverage, and corporate dividends. Financial Management, 36-46
Daftar emiten sektor barang konsumsi makanan dan minuman ‖ Diakses 9 Juli 2023 https://lembarsaham.com/daftar-emiten/sektor/5/23/industri-barang-konsumsi/makanan-minuman
Darmadji, dan Fakhruddin. 2006. Pasar Modal di Indonesia Pendekatan Tanya Jawab. Edisi kedua. Jakarta: Salemba Empat.
Darmadji, Tjiptono dan Hendy M.Fakhruddin. 2011. Pasar Modal diIndonesia (Edisi 3).Jakarta:
Darmadji, T dan H. M. Fakhruddin. 2012. Pasar Modal di Indonesia, Edisi 3, Salemba Empat. Jakarta.
Data pertumbuhan industry makanan dan minuman ‖ Diakses 19 September 2023 https://www.dataindustri.com/produk/data-pertumbuhan-industri-makanan-dan-minuman/
Definisi dan keuntungan memiliki saham ‖ Diakses 30 Juli 2023 https://sikapiuangmu.ojk.go.id/FrontEnd/CMS/Category/64#:~:text=Saham%20dapat%20diartikan%20sebagai%20tanda,Umum%20Pemegang%20Saham%20(RUPS)
Definisi profitabilitas ‖ Diakses 30 Juli 2023 https://jagoakuntansi.com/2016/12/20/struktur-modal/
Definisi studi pustaka ‖ Diakses 10 Juli 2023 https://deepublishstore.com/blog/studi-pustaka/
Fahmi, Irham. 2011. Analisis Laporan Keuangan. Bandung: Alfabeta.
Fahmi, Irham. 2012. Analisis Laporan Keuangan. Bandung: Alfabeta.
Fahmi, Irham. 2013. Analisis Laporan Keuangan. Bandung: Alfabeta.
Fahmi, Irham. 2015. Manajemen Investasi. Jakarta: Salemba Empat.
Fahmi, Irham. 2016. Analisis Laporan Keuangan. Bandung: Alfabeta.
Febriyanti, G. A. (2020). Dampak pandemi Covid-19 terhadap harga saham dan aktivitas volume perdagangan (Studi kasus saham LQ-45 di Bursa Efek Indonesia). Indonesia Accounting Journal, 11.
Fitrianingsih, D., & Budiansyah, Y. (2018). PENGARUH CURRENT RASIO DAN DEBT TO EQUITY RATIO TERHADAP HARGA SAHAM DI PERUSAHAAN FOOD AND BEVERAGE YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2013 – 2017. JURNAL RISET AKUNTANSI TERPADU, 24.
Ghozali, Imam. 2011. “Aplikasi Analisis Multivariate Dengan Program SPSS”. Semarang: Badan Penerbit Universitas Diponegoro.
Ghozali, I. (2017). Aplikasi Analisis Multivariate dengan Program SPSS. Semarang: Badan Penerbit UNDIP.
Gultom, M. L., Purba, D. P., Zepria, & Sinaga, R. (2019). Pengaruh Current Ratio (Rasio Lancar), Return on Equity Dan Total Asset Turn Over (Tato) Terhadap Harga Saham Pada Sector Consumer Goods Industry Di Bursa Efek Indonesia. Jurnal Global Manajemen, 8, 35–44.
Hanafi, M. (2014). Manajemen Keuangan Edisi Kedua. Yogyakarta: BPFE
Harahap, Sofyan Syafri. Drs., 2007. Analisis Kritis Atas Laporan Keuangan, Cetakan ke-7. Jakarta: PT Raja Grafindo Persada.
Hartono, J. 2008. Teori Portofolio dan Analisis Investasi. Edisi 5. Yogyakarta: BPFE
Hartono, Jogiyanto. 2013. Teori Portofolio dan Analisis Investasi. BPFE: Yogyakarta.
Hasanuddin, R. (2020). PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN DAN PROFITABILITAS TERHADAP HARGA SAHAM PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA. JURNAL EQUILIBRUM,10
Husnan, Suad dan Enny Pudjiastuti, (2004). Dasar-dasar Manajemen Keuangan, UPP AMP YKPN, Yogyakarta.
Husnan, Suad., dan Pudjiastuti, Enny. (2006). Dasar-dasar Manajemen Keuangan. Edisi Kelima, Penerbit UPP STIM YKPN, Yogyakarta
Husnan, Suad. 2005. Dasar-Dasar Teori Portofolio dan Analisis Sekuritas. Edisi Keempat, UPP AMP YKPN, Yogyakarta.
Inayah, T. N., Mulyadi, & Kaniarti, R. (2021). ANALISIS PENGARUH PROFITABILITAS DAN PROFITABILITAS TERHADAP HARGA SAHAM PERUSAHAAN MANUFAKTUR SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2014-2018. JIMP, 14.
Indah. 2020. Analisis Pengaruh Market Capital, Likuiditas, Profitabilitas Terhadap Struktur
Modal Pada Sektor Property dan Real Estate Di Bursa Efek Indonesia Periode 2017 –2019. Skripsi S1. STIE Wijaya Mulya Surakata.
Jayanti, E., & Sukarno, D. (2020). Pengaruh leverage, ukuran perusahaan dan pertumbuhan perusahaan terhadap profitabilitas. Jurnal Ekonomi, 10(1), 1– 12.
Kasmir. 2011. Analisis Laporan Keuangan. Edisi Ketiga. PT. Raja Grafindo Persada. Jakarta.
Kasmir. 2012. Analisis Laporan Keuangan. Jakarta : Raja Grafindo dan Jakfar. 2012. Studi Kelayakan Bisnis. Jakarta : Kencana.
Keown, Arthur J, et al. 2010. Manajemen Keuangan: Prinsip dan Penerapan, Jilid 2, Edisi Kesepuluh. Jakarta: INDEKS
Kondisi Industri Pengolahan Makanan dan Minuman di Indonesia ‖ Diakses 19 September 2023(https://www.djkn.kemenkeu.go.id/kanwil-suluttenggomalut/baca artikel/15588/Kondisi-Industri-Pengolahan-Makanan-dan-Minuman-di-Indonesia.html)
Lailia, N., & Suhermin. (2017). PENGARUH PROFITABILITAS, PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP HARGA SAHAM PERUSAHAAN FOOD AND BEVERAGE. Jurnal Ilmu dan Riset Manajemen, 20.
Martono, N. 2011. Metode Penelitian Kuantitatif. PT.Raya Grafindo Persada. Jakarta.
Memahami uji F uji simultan dalam regresi linier ‖ Diakses 10 Juli 2023 https://accounting.binus.ac.id/2021/08/12/memahami-uji-f-uji-simultan-dalam-regresi-linear/
Memahami uji t dalam regresi linier ‖ Diakses 10 Juli 2023 https://accounting.binus.ac.id/2021/08/12/memahami-uji-t-dalam-regresi-linear/
Mengenal Lebih Jauh Sejarah Bursa Efek Indonesia ‖ Diakses 15 Agustus 2023 https://www.poems.co.id/htm/Freeducation/LPNewsletter/v43/news02_vol43_sejarahIDX.html
Muhammad, T. T., & Rahim, S. (2015, Juni). PENGARUH TINGKAT LIKUIDITAS DAN PROFITABILITAS TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR YANGTERDAFTAR DI BURSA EFEK INDONESIA (BEI). Jurnal Akuntansi Aktual, 10.
Nabella, S. D., Munandar, A., & Tanjung, R. (2022). LIKUIDITAS, SOLVABILITAS, AKTIVITAS DAN PROFITABILITAS TERHADAP HARGA SAHAM PADA PERUSAHAAN SEKTOR PERTAMBANGAN BATU BARA YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2016-2018. Jurnal Akuntansi, 6.
Nst, N. A., & Sari, W. (2020). PENGARUH PROFITABILITAS ( FIRM SIZE ) DAN PROFITABILITAS TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI). Jurnal Akuntansi Bisnis & Publik, 8.
Nurutami, Siti. 2019. ANALISIS FAKTOR-FAKTOR YANG MEMENGARUHI HARGA SAHAM PADA PERUSAHAAN BURSA EFEK INDONESIA Skripsi S1. UNIVERSITAS MUHAMMADIYAH MAKASSAR.
Pniswatin, A., Purbayati, R., & Setiawan. (2020). Pengaruh Debt to Equity Ratio dan Return on Equity terhadap Harga Saham pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia. Indonesian Journal of Economics and Management, 15.
Putu Ayu Widiastari, Gerianta Wirawan Yasa. 2018. Pengaruh Profitabilitas, Free Cash Flow, dan Ukuran Perusahaan pada Nilai Perusahaan. ISSN: 2302- 8556 E-Jurnal Akuntansi Universitas Udayana Vol.23.2. Mei (2018): 957-981
Riyanto, B. (2002). Bunga Rampai Kajian Teori Keuangan. Jakarta: Universitas Gadjah Mada.
Ross, S. A. (1977). The Determination of Financial Structure: The Incentive Signaling Approach. Bell Journal of Economics and Management Science,Vol. 8 (1): 23-40.
Sartono, A. (2016). Manajemen Keuangan Teori dan Aplikasi. Yogyakarta: BPFE.
Sartono, R. Agus. 2011. Manajemen Keuangan Teori dan Aplikasi(Edisi 2). Yogyakarta: BPFE.
Setiyadi. (2007). pengaruh profitabilitas, profitabilitas dan kepemilikan institusional terhadap pengungkapan CSR Disclousure. Jurnal Ekonomi, Universitas Padjajaran Bandung
STIE Wijaya Mulya. 2022. Buku Pedoman Penulisan Skripsi
Sudana, I. M., 2009, Manajemen Keuangan Teori dan Praktek, Airlangga University Press, Surabaya.
Sudana, I.M. 2011. Manajemen Keuangan Perusahaan Teori & Praktik. Jakarta: Penerbit Erlangga.
Sugiyono. (2016). Metode Penelitian Pendidikan Pendekatan Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta.
Sugiyono. (2017). Metode Penelitian Pendidikan Pendekatan Kuantitatif, Kualitatif, dan R&D. Bandung: CV Alfabeta.
Sukarno, Muhammad; Riana Sitawatidan Sam’ani. 2016. Pengaruh Profitabilitas, Pertumbuhan Penjualan Dan Profitabilitas Terhadap Harga Saham Dengan Profitabilitas Sebagai Variabel Intervening (Studi Empiris Perusahaan LQ-45 Di Bursa Efek Indonesia).Dharma Ekonomi. No.44/ Th.XXIII/ Oktober 2016. ISSN: 0853-5205. STIE Dharmaputra Semarang
Tandelilin, Eduardus. 2010. Portofolio dan Investasi: Teori dan Aplikasi. Edisi 1.Kanisius. Yogyakarta.
Widoatmodjo, Sawidji. 2012. Cara Cepat Memulai Investasi Saham Panduan Bagi Pemula. Jakarta: PT Elex Media Komputindo.
Widioatmodjo, S. (2013). Pengetahuan Pasar Modal untuk Konteks Indonesia. Elex Media Komputindo.
Zubir, Z. (2013). Managemen Portofolio: Penerapannya dalam Investasi Saham.Jakarta: Penerbit Salemba Empat.