scholarly journals Hospitality And Tourism Industry Performance in Indonesia Based on Benjamin Graham’s Perspective

2019 ◽  
Vol 10 (1) ◽  
pp. 9-16
Author(s):  
Ima Kristina Yulita ◽  
Caecilia Wahyu Estining Rahayu
Keyword(s):  
Stock Prices ◽  
Linear Regression Analysis ◽  
Tourism Industry ◽  
Financial Ratios ◽  
Current Ratio ◽  
Return On Equity ◽  
Book Value ◽  
Equity Ratio ◽  
Hospitality And Tourism ◽  
Hospitality And Tourism Industry

Abstract. This research aims at determining the performance of hospitality and tourism industry in Indonesia based on the analysis of financial ratios using the Benjamin Graham’s perspective. The total number of samples is 9 companies listed in Indonesia Stock Exchange in 2012-2016. The analysis of financial ratios includes Earning Per-Share (EPS), Price to Earnings Ratio (PER), Price to Book Value (PBV), Return on Equity (ROE), Current Ratio (CR) and Debt to Equity Ratio (DER). First, this research examined the effects of those six financial ratios on stock prices either partially or simultaneously. Afterwards, only financial ratios that had a significant effect on stock prices are analyzed using Benjamin Graham. Hypothesis testing was conducted using Multiple Linear Regression analysis. The results point out that: (1) EPS, PER, PBV, ROE, CR and DER simultaneously affect the stock prices; (2) EPS, PER, PBV and DER partially affect the stock prices; (3) Seven companies that meet 2 of 4 determined criteria are ARTA, BAYU, JIHD, JSPT, KPIG, PDES and SHID. The results of this research are expected to provide recommendations for investors in selecting companies’ shares with good performance based on 4 financial ratios.Keywords. Hospitality and tourism industry, financial ratio, financial performance, stock prices, Benjamin Graham. Abstrak. Penelitian ini bertujuan untuk mengetahui kinerja industri hotel dan pariwisata di Indonesia berdasarkan analisis rasio keuangan menggunakan perspektif Benjamin Graham. Jumlah sampel adalah 9 perusahaan yang terdaftar di Bursa Efek Indonesia pada tahun 2012-2016. Analisis rasio keuangan termasuk Earning Per-Share (EPS), Price to Earnings Ratio (PER), Price to Book Value (PBV), Return on Equity (ROE), Current Ratio (CR) dan Debt to Equity Ratio (DER) . Pertama, penelitian ini menguji pengaruh dari enam rasio keuangan terhadap harga saham baik secara parsial maupun secara simultan. Setelah itu, hanya rasio keuangan yang memiliki pengaruh signifikan terhadap harga saham yang dianalisis menggunakan Benjamin Graham. Pengujian hipotesis dilakukan menggunakan analisis Regresi Linier Berganda. Hasil menunjukkan bahwa: (1) EPS, PER, PBV, ROE, CR dan DER secara simultan mempengaruhi harga saham; (2) EPS, PER, PBV dan DER secara parsial mempengaruhi harga saham; (3) Tujuh perusahaan yang memenuhi 2 dari 4 kriteria yang ditentukan adalah ARTA, BAYU, JIHD, JSPT, KPIG, PDES dan SHID. Hasil penelitian ini diharapkan dapat memberikan rekomendasi bagi investor dalam memilih saham perusahaan dengan kinerja yang baik berdasarkan 4 rasio keuangan.Kata kunci : industri hotel dan pariwisata, rasio keuangan, kinerja keuangan, harga saham, Benjamin Graham 

PENGARUH RASIO KEUANGAN TERHADAP HARGA SAHAM PERUSAHAAN LQ45 PERIODE 2013-2017

2019 ◽  
Vol 5 (1) ◽  
pp. 1-17
Author(s):  
Nuri Maulana Ikhsan ◽  
Yohanes Rully Dermawan
Keyword(s):  
Stock Prices ◽  
Share Price ◽  
Financial Ratios ◽  
Total Asset ◽  
Current Ratio ◽  
Return On Equity ◽  
Book Value ◽  
Earnings Per Share ◽  
Asset Turnover ◽  
Equity Ratio

This study aims to determine the effect of financial ratios on stock prices. Financial ratios used in this study is the Current Ratio, Debt to Equity Ratio, Return On Equity, Total Asset Turnover, Earning Per Share, and Price to Book Value. The type of research used is quantitative to observe the effect of financial ratios on stock prices. This study used a purposive sampling method with a total sample of 20 companies registered in the LQ45 index for the period 2013-2017 and fulfilling the research criteria. The statistical method used is multiple linear regression analysis The results of this study indicate that partially, the variable debt to equity ratio, return on equity, total asset turnover, earnings per share, and price to book value have a significant partial effect on stock prices, while the current ratio variable does not have a partial significant effect on stock prices. Simultaneously the current ratio variable, debt to equity ratio, return on equity, total asset turnover, earnings per share, and price to book value have a significant simultaneous effect on stock prices. And the most dominant influential variable is earnings per share. Keywords:  Current Ratio, Debt to Equity Ratio, Return On Equity, Total Asset Turnover, Earning Per Share, Price to Book Value, and Stock Price.  

scholarly journals Analisis Pengaruh Faktor Fundamental terhadap Harga Saham pada Perusahaan yang Konsisten Terdaftar di Jakarta Islamic Index

2021 ◽  
Vol 1 (3) ◽  
pp. 710-717
Author(s):  
Fadhillah Syahba Adrisa ◽  
Ade Ali Nurdin ◽  
Iwan Setiawan
Keyword(s):  
Interest Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Financial Ratios ◽  
Current Ratio ◽  
Return On Equity ◽  
Macroeconomic Variables ◽  
Insignificant Effect ◽  
Equity Ratio

This study aims to determine the effect of fundamental factors on the stock prices of companies that are consistently listed on the Jakarta Islamic Index (JII) during the 2014-2018 period, either partially or simultaneously. Fundamental factors consist of financial ratios, namely Current Ratio (CR), Debt to Equity Ratio (DER), Earning Per Share (EPS), and Return On Equity (ROE), as well as macroeconomic variables represented by Inflation and Bank Indonesia Interest Rates ( BI Rate). The results showed that partially the ROE variable had a significant effect on JII's stock price, while CR, DER, EPS, Inflation, and BI Rate had a negative and insignificant effect on JII's stock price. Simultaneously the variables CR, DER, EPS, ROE, Inflation, and BI Rate have a significant effect on JII's stock price.

scholarly journals Faktor-Faktor Yang Mempengaruhi Harga Saham Perusahaan Sub Sektor Property dan Real Estate

2020 ◽  
Vol 20 (1) ◽  
pp. 174
Author(s):  
Delala Yuvita Sari ◽  
Riana Rahmawati Dewi ◽  
Rosa Nikmatul Fajri
Keyword(s):  
Real Estate ◽  
Stock Prices ◽  
Linear Regression Analysis ◽  
Sampling Technique ◽  
Return On Assets ◽  
Current Ratio ◽  
Return On Equity ◽  
Purposive Sampling ◽  
Earnings Per Share ◽  
Equity Ratio

This study aims to analyze the effect of return on assets (ROA), return on equity (ROE), earnings per share (EPS), current ratio (CR), debt to equity ratio (DER) on stock prices. The sampling technique uses purposive sampling. Based on purposive sampling, 34 samples of property and real estate companies listed on the Indonesia Stock Exchange for the period of 2016-2018 were obtained in accordance with predetermined criteria, so that the total sample of 102 total were ready to be processed. The data analysis method used in this study is multiple linear regression analysis. The results of this study prove that earnings per share variable has a positive and significant effect on stock prices. Conversely the current ratio variable has a negative and significant effect on stock prices, while the variable return on assets, return on equity, debt to equity ratio has no effect on stock prices.

scholarly journals THE ROLE OF RETURN ON EQUITY, DEBT TO EQUITY RATIO AND CURRENT RATIO IN REVEALING THE STOCK PRICES (THIS RESEARCH ON TELECOMMUNICATION SUB SECTOR COMPANIES WHICH HAVE BEEN LISTED ON THE INDONESIA STOCK EXCHANGE 2012-2019)

2021 ◽  
Vol 2 (4) ◽  
pp. 717-727
Author(s):  
Fitri Rasdayanti ◽  
Chaerudin Chaerudin
Keyword(s):  
Stock Prices ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Sampling Technique ◽  
Multiple Linear Regression Analysis ◽  
Current Ratio ◽  
Return On Equity ◽  
Equity Ratio ◽  
The Impact

This research has purposes to discover and examine the impact which causing from return on equity (ROE), debt to equity ratio (DER) and current ratio (CR) against stock prices in sub-sector telecommunications companies which have been registered on the IDX during period of 2012 - 2019. This research currently uses a quantitative method with sampling technique used was purposive sampling technique during the research period so the samples used were EXCEL, FREN, ISAT and TLKM. The research data used was secondary data through multiple linear regression analysis method. The results had shown that 1) ROE had a positive and significant impact on stock prices; 2) DER had no impact on stock prices; 3) CR had a positive and significant impact on stock prices; and 4) ROE, DER, and CR had simultaneously impact on stock prices.

scholarly journals Analysis of Financial Fundamental Factors and Systematic Risks on Stock Prices of Pharmaceutical Companies Listed on the Indonesia Stock Exchange 2010-2019

2021 ◽  
Vol 8 (8) ◽  
pp. 407-415
Author(s):  
Tri Hartati Sukartini Hulu ◽  
Idhar Yahya ◽  
Tarmizi .
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Share Price ◽  
Pharmaceutical Companies ◽  
Return On Equity ◽  
Book Value ◽  
Systematic Risks ◽  
Equity Ratio

The study aims to analyze fundamental financial factors and systematic risks to the share prices of pharmaceutical companies listed on the Indonesia stock exchange. This study uses the company's share price as a dependent variable and returns on Return on Equity (ROE), Earning Per Share (EPS), Price Earning Ratio (PER), Price to Book Value (PBV), Debt to Equity Ratio (DER) and Beta stock as independent variables. Samples were taken as many as nine pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) in 2010-2019. The data used in the financial statements of each sample company, published through www.IDX.co.id and www.financeyahoo.com. The analysis method used in this study is a quantitative method, with classic assumption testing and statistical analysis that is multiple linear regression analysis using a standard effect model. The sampling method used is saturated sampling. The analysis results showed that the financial ratio consisting of ROE, DER, and the Beta stock had a negative effect and did not significantly affect the stock price. EPS has a negative and significant effect on the stock price, while PER and PBV have a positive and insignificant effect on the stock price. Keywords: Return on Equity (ROE), Earning Per Share (EPS), Price Earning Ratio (PER), Price to Book Value (PBV), Debt to Equity Ratio (DER), Beta Stock and Stock Price.

scholarly journals The Effect of Current Ratio and Debt to Equity Ratio on Stock Prices with Return on Equity as an Intervening Variable in Food and Beverage Companies

2021 ◽  
Vol 2 (2) ◽  
pp. 126-134
Author(s):  
Christia Christia ◽  
Eka Nurmala Sari ◽  
Enda Noviyanti SimoranJkir ◽  
Galumbang Hutagalung
Keyword(s):  
Stock Prices ◽  
Quantitative Research ◽  
Linear Regression Analysis ◽  
Sampling Technique ◽  
Multiple Linear Regression Analysis ◽  
Current Ratio ◽  
Return On Equity ◽  
Food And Beverage ◽  
Negative Effect ◽  
Equity Ratio

This study aims to test and analyze the effect of Current Ratio and Debt to Equity Ratio on stock prices with ROE as an intervening  variable . This research is a quantitative research. The population of food and beverage companies is 23 companies using purposive sampling technique, so samples that meet the criteria for analysis are 13 companies. The data were analyzed using multiple linear regression analysis, the cc›efficient of determination, the F test, and the T test. The results showed that the Current Ratio had a positive and significant effect on ROE and stock prices. DER has a positive and significant effect on ROE but has a significant negative effect on stock prices and ROE has a positive and significant effect on stock prices. CR and DER have an indirect effect on stock prices through ROE.

scholarly journals The Effect of Current Ratio (CR) and Debt to Equity Ratio (DER) on Return on Equity (RoE) at PT Aneka Tambang, Tbk, Years 2010 - 2017

2019 ◽  
Vol 3 (1) ◽  
pp. 83
Author(s):  
Waluyo Jati ◽  
Tiya Sri Andini
Keyword(s):  
Linear Regression Analysis ◽  
Secondary Data ◽  
Strong Relationship ◽  
Financial Statements ◽  
Multiple Linear Regression Analysis ◽  
Coefficient Of Determination ◽  
Contribution Rate ◽  
Current Ratio ◽  
Return On Equity ◽  
Equity Ratio

The company wants an optimal profit for the business being run. This study aims to determine the effect of the current ratio (CR) on return on equity (ROE), the effect of debt to equity ratio (DER) on return on equity (ROE), and to determine the effect of current ratio (CR) and debt to equity ratio (DER) simultaneously on return on equity (ROE) at PT Aneka Tambang, Tbk in the period 2010 - 2017. The research method used is descriptive quantitative. The data used are secondary data in the form of PT Aneka Tambang, Tbk's financial statements for the period 2010-2017. The analytical method used is the classic assumption test, multiple linear regression analysis, correlation coefficient, coefficient of determination, and hypothesis testing with t-test and F test using SPSS version 20.0. The results showed no significant effect of the current ratio (CR) on return on equity (ROE), there was no significant effect of debt to equity ratio (DER) on return on equity (ROE), and there was no significant effect between the current ratio (CR) and debt to equity ratio (DER) together against return on equity (ROE). Current ratio (CR) and debt to equity ratio (DER) have a very strong relationship to return on equity (ROE). The contribution rate of the variable current ratio (CR) and the debt to equity ratio (DER) to return on equity (ROE) is 61.9%.

scholarly journals FAKTOR PENGARUH RASIO KEUANGAN TERHADAP HARGA SAHAM PERUSAHAAN JAKARTA ISLAMIC INDEX (JII)

2021 ◽  
Vol 12 (1) ◽  
pp. 42-55
Author(s):  
Nadiah Ayu Salsabila ◽  
Titis Miranti
Keyword(s):  
Stock Prices ◽  
Stock Exchange ◽  
Secondary Data ◽  
Profit Margin ◽  
Stock Index ◽  
Financial Ratios ◽  
Analysis Model ◽  
Current Ratio ◽  
Net Profit ◽  
Equity Ratio

Jakarta Islamic Index is a stock index in the IDX that can use as an alternative In Islamic investment. In choosing an investment object in Islamic stocks, it necessary to pay attention to the financial ratios and stock prices of companies. The purpose of this study was to determine the effect of financial ratios on stock prices on companies listed on the Jakarta Islamic Index (JII). The type of this research is quantitative. The population of 56 companies registered on the Jakarta Islamic Index (JII) for the 2012-2018 period with a sample of 11 companies. The analysis model use panel data regression using Eviews software. The type of data uses secondary data accessed through the Indonesia Stock Exchange (IDX) website. The results showed that earning per share variable has a significant effect on stock prices. While the current ratio, debt to equity ratio, total assets turnover and net profit margin variables have no significant impact on stock prices. Simultaneously variables of current ratio, debt to equity ratio, total assets turnover, net profit margin and earning per share have significant effects on stock prices. The contribution of this research can use as a reference for companies to pay attention to financial ratios that affect stock prices.

scholarly journals PENGARUH CURRENT RATIO, RETURN ON EQUITY, DAN DEBT TO EQUITY RATIO TERHADAP HARGA SAHAM (Pada Perusahaan Konstruksi di Bursa Efek Indonesia Periode 2015-2017)

2020 ◽  
Vol 8 (1) ◽  
pp. 33
Author(s):  
Bhekti Ainul Fiqih ◽  
Candra Vionela Merdiana
Keyword(s):  
Stock Prices ◽  
Research Method ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Current Ratio ◽  
Return On Equity ◽  
Construction Company ◽  
Equity Ratio ◽  
Solvency Ratio

This study aims to determine the effect of Current Ratio (CR), Return On Equity (ROE) and Debt to Equity Ratio (DER) on stock prices. Current Ratio is the liquidity ratio, Return On Equity is the profitability ratio and the Debt to Equity Ratio is the Solvency ratio. The object in this study is a Construction Company listed on the Indonesia Stock Exchange (IDX). The research method in this study is a documentation method with a quantitative approach. The population used amounted to 26 companies, then the determination of the sample was determined through a purposive sampling technique. Based on predetermined2 criteria, a sample of 14 companies was obtained. The results showed that simultaneously the Current Ratio (CR), Return On Equity (ROE) and Debt to Equity Ratio (DER) variables had a significant effect on stock prices. Partially, Current Ratio (CR) has a positive but not significant effect on stock prices, while Return on Equity (ROE) has a positive and significant effect on stock prices and Debt to Equity Ratio (DER) has a negative and significant effect on stock prices. This shows that the company must maintain the value of Return On Equity (ROE) and Debt to Equity Ratio (DER).

scholarly journals PENGARUH FAKTOR-FAKTOR FUNDAMENTAL KE UANGAN TERHADAP HARGA SAHAM PERUSAHAAN PROPERTI DAN REAL ESTATE YANG TERDAFTAR DI BEI

2018 ◽  
Vol 5 (2) ◽  
Author(s):  
Firda Silviyatul Husnia
Keyword(s):  
Stock Prices ◽  
Linear Regression Analysis ◽  
Sampling Technique ◽  
Profit Margin ◽  
Real Property ◽  
Return On Assets ◽  
Current Ratio ◽  
Net Profit ◽  
Regression Test ◽  
Equity Ratio

This study was conducted to determine the effect of factors such as financial fundamentals Earning Per Share (EPS), Return On Assets (ROA), Net Profit Margin (NPM), Debt To Equity Ratio (DER), and Current Ratio (CR) of the company and real property estate listed in Indonesia Stock Exchange during the period 2008-2013. The sampling technique used purposive sampling with a sample of five companies. Variables include the Earning Per Share (EPS), return on assets (ROA), Net Profit Margin (NPM), Debt To Equity Ratio (DER), and Current Ratio (CR) as the independent variable and stock price as dependent variables. Data were analyzed using descriptive statistical analysis and multiple linear regression analysis. The results of this study indicate that the simultaneous regression test (Test F), shows that the Earning Per Share (EPS), return on assets (ROA), Net Profit Margin (NPM), Debt To Equity Ratio (DER), and Current Ratio (CR ) simultaneously  influence the stock prices of five companies that were visited. While partial regression test (t test) showed that the variable EPS, ROA, NPM and CR partial effect, whereas the variable DER has no partial effect on stock prices.

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