Analisis Konsistensi Pengaruh Faktor Faktor Fundamental Perusahaan Terhadap Price Earning Ratio (Per) Perusahaan Manufaktur Pada Bursa Efek Jakarta (Studi Kasus Sebelum dan Sesudah Krisis Moneter 1997-1998)

• Main Author: Perpustakaan UGM, i-lib
• Format: Article NonPeerReviewed
• Published: [Yogyakarta] : Universitas Gadjah Mada 2004
• Subjects: Jurnal i-lib UGM
• Online Access: https://repository.ugm.ac.id/24082/; http://i-lib.ugm.ac.id/jurnal/download.php?dataId=7052
• Institution: Universitas Gadjah Mada

ABSTRACT The objective of this research is to find the empirical evidence of the determination of price earning ratio in firms at Jakarta Stock Exchange using the right parameter. True value of price earning ratio which could be determined by such factors, there are dividend payout ratio, return on equity, leverage, size, growth of earnings per share, and beta market. Using this parameter we can find the determinant of price earning ratio before and-after the economic crisis in Indonesia during 1997 - 1998. Using 36 sample firm listed from 1994 to 2001 and cross sectional multiple regression model, this study aims to explain the determinant of such factors at price earning ratio. The data divided in two groups, before crisis and after crisis. This study uses annual period and uses pooled data to find what factors can affect the price earning ratio. The paired samples t test used to find the consistency of factors that affect price earning ratio. Result of this study concludes that there was same differences in difference period. At 1994 factors that affect are Return on Equity, Size, Earning per Share growth and Beta market. At 1995 factors that affect are Devidend Payout Ratio, Return on Equity, and Size. At 1996 factors that affect is only Size. At 1999 and 2001 there is no factor can affect the price earning ratio. At 2000 factors that affect is only Devidend Payout Ratio. With pooled data metod at 1994-1996 factors that affect are Return on Equity and Size, at 1999 - 2001 factors that affect are Devidend Payout Ratio and Return on Equity. In consistency anlysis find that only return bn equity consistence effect price earning ratio. Keywords: price earning ratio -- dividend payout ratio -- return on equity -leverage -- size -- growth of earnings per share -- beta market.