Perkembangan Ekonomi syariah di Indonesia telah mendorong Bursa Efek
Indonesia membuat pasar saham syariah. Tujuannya untuk mengakomodasi
investor yang ingin berinvestasi menggunakan konsep halal dan tanpa riba.
Penelitian ini membahas mengenai hubungan antara rasio-rasio perusahaan (ROA,
DER, NPM, PBV) terhadap return saham perusahaan pada Indonesia Sharia
Stock Index untuk periode 2011-2012. Terdapat 268 sampel yang digunakan
berdasarkan metode regresi linier berganda. Hasil penelitian ini menunjukkan
bahwa Debt to Equity Ratio (DER), Net Profit Margin (NPM), dan Price to Book
Value (PBV) berpengaruh signifikan terhadap return saham. Sedangkan Return
On Assets (ROA) tidak berpengaruh signifikan terhadap return saham. Hal ini
mengindikasikan bahwa kemungkinan laba perusahaan tidak tercapai karena
kurangnya kinerja manajemen dalam memanfaatkan sumber daya ekonomi yang
ada.
In Indonesia, sharia economic development encourages Indonesia Stock Exchange
to create Sharia Stock Index. It comes with purpose that sharia stock index assists
some investors who put up their investment based on halal and no prohibition of
interest (Riba) concept. This research describe the relationship between company
ratios (ROA, DER, NPM, PBV) towards stock return at Indonesia Sharia Stock
Index during period 2011-2012. There are 268 samples taken by document studies
method. Researcher examines annual report by using the method of Spearman
Rank Correlation. The result showed that Debt to Equity Ratio (DER), Net Profit
Margin (NPM), and Price to Book Value (PBV) has significant leaven towards
stock return. Meanwhile, Return on Assets (ROA) doesn?t have significant
interference towards stock return. It implies that company profit might not meet
expectation due to lack of management performance in utilizing the economy
resources
S56928-Danu Ariapurwo.pdf :: Unduh