SARI , DANY KUSUMA (2008) ANALISIS FAKTOR - FAKTOR FUNDAMENTAL YANG MEMPENGARUHI BETA SAHAM PERUSAHAAN MANUFAKTUR DI BURSA EFEK JAKARTA PADA PERIODE TAHUN 2003 - 2005. Skripsi thesis, Universitas Muhammadiyah Surakarta.
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Abstract
The research is to provide empirical evidence that current ratio (CR) factor, Quick ratio (QR), Leverage Ratio (LR), Return on Equity (ROE), Total Asset Turn Over (TAT), Dividend Yield (DY), and Asset Growth (GR) affect Systematic Risk (BETA). Sample of the research is companies regis tered in Jakarta Exchange that are selected based on a purposive sampling and 30 companies are assigned as sample. The assessment period in which financial ratios as independent variables is financial performance of 2003 - 2004, whereas the dependent variable is BETA of 2004 - 2005 period. Classic assumptions that consist of normality test, multicolinearity test, autocorrelation test, and heterokedasticity test are performed before a multiple analysis regression as analysis instruments. Hypothesis testing is conducted by using F-test and t-test. Results of simultaneously testing of F-test indicated that CR, QR, LR, ROE, TAT, DY, and GR have significant effect on BETA. The significant result can be seen from Fcalculation=2.966 and probability of error level (alpha) is 0.039. Results of partially testing indicated that LR and ROE variables have significant effect on BETA of companies with tcalculation are 2.766 with significance of 0.043 and 2.501 with significance of 0.048, respectively. Result of partially testing for CR, QR, TAT, DY and GR variables showed non-significant effect on BETA of companies with value of each variable is CR (tcalculation=0.779 with significance of 0.439), QR (tcalculation=0.036 with significance of 0.971), TAT (tcalculation=-0.829 with significance of 0.411), DY (tcalculation=0.066 with significance of 0.948) and GR (tcalculation=0.027 with significance of 0.978). A value of compound determination coefficient of 13.6% is a relative lower value. It means that independent variables were selected less representatively. For future research, proportion and composition of financial ratio must be paid attention.
| Item Type: | Karya ilmiah (Skripsi) |
|---|---|
| Uncontrolled Keywords: | Current Ratio, Quick Ratio, and Leverage Ratio, Return On Equity, Total Asset Turn Over, Dividend Yield, Assets Growths and Systematic Risk (BETA) |
| Subjects: | H Social Sciences > HF Commerce > HF5601 Accounting |
| Divisions: | Fakultas Ekonomi dan Bisnis > Akuntansi |
| Depositing User: | Mrs. Gatiningsih Gatiningsih |
| Date Deposited: | 03 Jun 2009 07:05 |
| Last Modified: | 17 Nov 2010 02:06 |
| URI: | http://eprints.ums.ac.id/id/eprint/2034 |
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