PENGARUH STRUKTUR MODAL, MARKET VALUE ADDED (MVA) DAN RISIKO SISTEMATIK TERHADAP HARGA SAHAM (STUDI PADA PERUSAHAAN LQ45 YANG TERDAFTAR DI BEI PERIODE 2009-2011)

Zahra, Nur Khodijah Az (2012) PENGARUH STRUKTUR MODAL, MARKET VALUE ADDED (MVA) DAN RISIKO SISTEMATIK TERHADAP HARGA SAHAM (STUDI PADA PERUSAHAAN LQ45 YANG TERDAFTAR DI BEI PERIODE 2009-2011). S1 thesis, Universitas Negeri Jakarta.

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Abstract

Nur Khodijah Az Zahra, 2012. The Influence of Capital Structure, Market Value Added (MVA) and Systematic Risk toward Stock Price (Study in LQ45 Companies Listed on the Stock Exchange Period 2009-2011). Shares investment in the capital market instrument is one of investment option with a higher return rate than other forms of investment instruments. Stock prices in Indonesia Stock Exchange are fluctuating and very difficult to predict because the stock price characteristic is random. This study aims to obtain empirical evidence about the influence of Capital Structure, Market Value Added (MVA) and the Systematic Risk to Price Stock partially and simultaneously. In this research, Capital structure measured using the DER ratio, MVA measured from the difference between the market value of firms (market value) and the capital invested in the company (invested capital), and the systematic risk is measured using the coefficient of beta. The sampling method used for this study is purposive sampling method. From the population of listed companies in the index LQ45 in the Indonesia Stock Exchange in the period 2009-2011, 23 companies that meet the criteria of the sample that is have still enrolled in the LQ45 index in the period 2009-2011 and have a complete financial report for the period was taken for this research as the sample. The results showed that simultaneously, capital structure, Market Value Added (MVA) and systematic risk (Beta) has a significant influence on the company's stock price LQ45. In partial, capital structure and Market Value Added (MVA) factor has a significant influence on stock prices, while the systematic risk (Beta) factor has no significant influence on LQ45’s stock prices in the Indonesia Stock Exchange period 2009-2011. Adjusted R2 values showed that 49.4% of the capital structure, MVA and systematic risk can explain the variation in stock prices.

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