The Effect of Financial Ratios on Sharia Stock Prices in Companies in the LQ45 Index 2020-2021

Ikbal Sudarman; Nana Diana

doi:10.29040/jiei.v8i1.4228

Authors

Ikbal Sudarman Universitas Singaperbangsa Karawang, Indonesia
Nana Diana Universitas Singaperbangsa Karawang, Indonesia

DOI:

https://doi.org/10.29040/jiei.v8i1.4228

Keywords:

DER, NPM, ROE, EPS, Sharia Stock Price

Abstract

This study examines the effect of Debt to Equity Ratio (DER), Net Profit Margin (NPM), Return on Equity (ROE) and Earning Per Share (EPS) on Sharia stock prices included in the LQ45 index. The LQ45 index was chosen because it is a stock that has a high level of liquidity and market capitalization, and it is supported by very good company fundamentals. The method used is a quantitative method. The data used in this study is secondary data taken from the official website of the Indonesian stock exchange. The sample in this study was 30 companies from the 2020-2021 period. The results of the study show that DER, NPM, ROE and EPS simultaneously have a significant effect on Islamic stock prices with F value of 10,765 and R Square of 0.539 or 53.9%. Partially, DER, NPM and ROE have no significant effect on Sharia Stock Prices with a sig. (0.245; 0.291; 0.094). EPS partially has significant effect on Sharia Stock Price with a sig. (0.00).

Author Biography

Nana Diana, Universitas Singaperbangsa Karawang

Lecturer, Faculty of Economy, Universitas Singaperbangsa Karawang

References

Anoraga, P., & Pakarta, P. (2015). Pasar Modal (Edisi Revisi). Semarang: Rineka Cipta

Azmy, A., & Lestari, A. (2019). Analisis Pengaruh Rasio Keuangan Terhadap Harga Saham Perusahaan RE & Properti di Indonesia. Jurnal Riset Manajemen Sains Indonesia, 10(2), 1â€“21.

Choirunnisak. (2019). SAHAM SYARIAH; TEORI DAN IMPLEMENTASI. Islamic Banking, 4, 283â€“284.

Dika, M. F., & Pasaribu, H. (2020). PENGARUH EARNING PER SHARE, RETURN ON ASSETS, DAN DEBT TO EQUITY RATIO TERHADAP HARGA SAHAM. Nominal: Barometer Riset Akuntansi Dan Manajemen, 9(2).

Dwi Dera Astutia, O. (2018). PENGARUH RETURN ON ASSET (ROA), EARNING PER SHARE (EPS), DAN NET PROFIT MARGIN (NPM) TERHADAP HARGA SAHAM PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2014-2017. Jurnal Ekonomi Manajemen, 4(2), 134â€“142. https://doi.org/10.35327/gara.v13i1.73

Erick, C. (2021). Pengaruh Return on Asset (ROA), Debt to Equity Ratio (DER), dan Earning per Share (EPS) terhadap Harga Saham Perusahaan Pertambangan (Sektor Industri Batubara) yang Terdaftar di Bursa Efek Indonesia (BEI) pada Tahun 2016-2018. Jurnal Manajemen Bisnis Dan Kewirausahaan, 5(1), 94. https://doi.org/10.24912/jmbk.v5i1.10836

Fatmawati, H. R. S. (2017). Pengaruh kinerja keuangan terhadap harga saham pada perusahaan. Jurnal Ilmu Dan Riset Akuntansi, 6(8), 36â€“48.

Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25. Semarang: Badan Penerbit Universitas Diponegoro.

Hanifah, A. (2019). The Effect of Earning Per Share (EPS), Price Earning Ratio (PER) and Price Book Value (PBV) Against the Stock Price of Telecommunications Sector Company Included in the Indonesian Islamic Stock Index (ISSI). KnE Social Sciences, 2019, 711â€“726. https://doi.org/10.18502/kss.v3i26.5410

Kurniawati, F. D., Chomsatu, Y., & Siddi, P. (2021). Pengaruh Rasio Keuangan Terhadap Harga Saham Dengan EPS Sebagai Variabel Moderasi. The effect Of Financial Ratios On Stock Prices With EPS As A Moderating Variable. 17(2), 228â€“238.

Lathifah, H. M., Febrianti, D. S., Utami, A. P., Ulhaq, A. A., Tulasmi, T., & Mukti, T. (2021). Dampak Pandemi Covid-19 Terhadap Nilai Harga Saham Syariah di Indonesia. Jurnal Ilmiah Ekonomi Islam, 7(1), 223. https://doi.org/10.29040/jiei.v7i1.1772

Rusydina, A., & Praptoyo, S. (2017). Pengaruh rasio keuangan terhadap return saham. Jurnal Ilmu Dan Riset Akuntansikuntansi, 6(7), 1â€“18.

Sari, W. P. (2018). Pengaruh Rasio Keuangan terhadap Harga Saham pada Perusahaan Manufaktur Go Public yang Terdaftar di Bursa Efek Indonesia. Jurnal Ilmiah Syaklandsea, 2(1), 43â€“52.

Sugiyono. (2016). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: PT. Alfabet.

Suhadi, D. (2019). Pengaruh Rasio Aktivitas, Rasio Profitabilitas, Rasio Laverage, Dan Rasio Penilaian Terhadap Harga Saham Perusahaan Food and Beverage. Jurnal Informasi, Perpajakan, Akuntansi, Dan Keuangan Publik, 4(1), 17. https://doi.org/10.25105/jipak.v4i1.4458

Widayanti, R., & Colline, F. (2019). Pengaruh Rasio Keuangan Terhadap Harga Saham. Jurnal Riset Bisnis Dan Investasi, 4(3), 47. https://doi.org/10.35697/jrbi.v4i3.1256