Pengaruh Faktor Fundamental dan Teknikal Terhadap Harga Saham Properti yang Terdaftar di Bursa Efek Jakarta

Abstract

Property was one of sectors that suffer very much during 2005. This caused the securities property price decrease on stock exchange. The objective of this research is to understand fundamental factor and technical that influence securuties price on property sector. The fundamental factors used in this research are 14 financial ratios which are current ratio, quick ratio, leverage ratio, debt to •. equity ratio, inventory turn over, fixed asset turn over, total asset tum over, gross profit margin, operating profit margin, net operating margin, return on investment, return on equity, price earning ratio dan price book value. The technical factors used are trading volume and individual stock price's index. The sample method uses purposive sampling method. Population are 32 companies, only 16 companies are selected, because the financial statement are complete in 2001 until 2003, and securities were active traded in stock exchange. Hypotesis testing was done through the multiple regression analysis and prior to that class~c assumption test including normality, multicoloniarity, heteroscedasticity, autucorelation and linearity model test was conducted. From nonna!ity and multicoloniarity test, 8 varibles are excluded~ current ratio, debt to equity ratio, inventory turn over, total asset tum over, gross profit margin, net profit margin, return on equity and price earning ratio because there are not normal and have coloniarity. The findings of this study reveal that the fundamental factor which are leverage ratio, fixed asset turn over, quick ratio, operating profit margin, return on investment, price book value ai:id technical factor which are trading volume and individual stock price's index simultaneously influence and significant the stock price. The fundamental factor which are leverage ratio, operating profit margin, price book value and technical factor which are trading volume and individual stock price's index partially influence and significant on alpha 5%. The individual stock price's index even is high significant.