FIRM SIZE MEMODERASI PENGARUH RETURN ON EQUITY TERHADAP HARGA SAHAM (Survey pada Sektor Food and Beverage yang Listing di Bursa Efek Indonesia)

Abstract

The aims of this researchis to know the influence of Return On Equity on stock prices with company size as a moderating variable. The survey was conducted on 13 companies listing on the Indonesia Stock Exchange in the period 2013-2017. Sampling in the study using purposive sampling method. The change coefficient of 42.80% variation in stock price changes can be questioned by variations in variable changes Return on Equity, company size and moderate. The overall hypothesis test explains the significant effect of Return On Equity on stock prices with the size of the company moderating joint relationships. Return On Equity as an independent variable that has a significant influence and size of the company does not have a significant effect on the company's shares in the food and beverage sector that are listed on the IDX. Regression coefficient gives a positive value, which means that the higher the profitability of the company the higher the stock price of the company. Moderation regression test gives significant results, so it can be concluded that company size is a moderating variable in the effect of Return On Equity on stock prices in the food and beverage sector which is listed on the IDX.

Keywords:return on equity; stock price; firm size.

Penelitian ini bertujuan untuk mengetahui pengaruh Return On Equity terhadap harga saham dengan firm size sebagai variabel pemoderating. Survey dilakukan pada 13 perusahaan sektor food and beverageyang listing di Bursa Efek Indonesia periode 2013-2017. Pengambilan sampel dalam penelitian memakai metode purposive sampling. Koefisien korelasi sebesar 42,80% menunjukkan variasi perubahan harga saham dapat dijelaskan oleh variasi perubahan variabel Return On Equity, firm size dan moderat. Uji hipotesis secara simultan menjelaskan bahwa terdapat pengaruh signifikan Return On Equityterhadap harga saham dengan firm size memoderasi hubungan keduanya. Return On Equitysebagai variabel independen memiliki pengaruh signifikan dan ukuran perusahaan tidak memiliki pengaruh yang signifikan terhadap saham perusahaan pada sektor food and beverage yang listingdi BEI. Koefisien regresi memberikan nilai positif, yang berarti semakin tinggi profitabilitas perusahaan akan semakin tinggi pula harga saham perusahaan. Uji regresi dengan moderasi memberikan hasil yang signifikan, sehingga dapat disimpulkan bahwa ukuran perusahaan merupakan variabel moderasi dalam pengaruh Return On Equityterhadap harga saham pada sektor food and beverage yang listingdi BEI. 

Kata kunci:return on equity; harga saham; firm size.