The Analysis of Stock Price in Tourism Industry Listed in Indonesia Stock Exchange 2012-2016

Novita Kristiana Angela, Yunita Ismail Masjud

Abstract


The tourism industry showed rapid growth from year to year, but sales in some tourist companies were declined. This study was analyzed the stock price of tourism companies listed in Indonesia Stock Exchange from 2012-2016. There were PT Bukit Uluwatu Villa Tbk, PT Destinasi Tirta Nusantara Tbk, PT Jakarta International Hotels and Development Tbk, and PT Bayu Buana Tbk. This study conducted to prove the significant partially and simultaneously influenced of debt equity ratio (X1), current ratio (X2), earning per share (X3), price to book value (X4), and return on asset (X5) towards the stock price (Y). In addition, this research also identified the most significant influence factor towards the stock price. Data collection method was purposive sampling and got 80 observations from 4 companies in 5 consecutive years (2012-2016) which fulfilled the criteria. This research adopted quantitative research with multiple regression analysis. The result showed that from 5 independent variables, DER had negative significant to the stock price, CR had negative significant to the stock price, EPS positive significant to the stock price, PBV positive significant to the stock price, and ROA negative significant to the stock price. DER, CR, EPS, PBV, and ROA simultaneously had a significant relationship to the stock price. In summary, EPS and PBV is the variable that had the strongest influence to the stock price of tourism industry.

Full Text:

PDF

References


Abimantrana, A.P. (2014). The Influence of Financial Performance on Stock Price around Publication Date of Financial Statements: A Study in Food and Beverages Companies on BEI. Jurnal Ilmiah Mahasiswa FEB, 2(2).

Anita & Yadav, P. (2014). Influence of Selected Financial Indicators on Stock Price of Tata Motors Ltd. International Journal of Application or Innovation in Engineering and Management, 3(7). ISSN 2319-4847.

Chittoo, H.B., Odit, M, P. (2008). Does Financial Leverage Influence Investment Decisions? The Case of Mauritians Firms. Journal of Business Case Studies, 4(9), 49-60.

Damar, et.al. (2015). Analysis of The Effect of Financial Leverage and Liquidity Towards Stock Value and Profitability As The Intervening Variable in Trading Companies Listed at Indonesia Stock Exchange 2010-2014. Journal of Business Studies, 109-116. ISSN 2461-0704.

Darnita, Elis. (2012). Analisis Pengaruh ROA, Return on Equity, Net profit Margin, dan Earning per Share Terhadap Harga Saham: Studi pada Perusahaan Food and Beverages yang terdaftar di BEI pada tahun 2008-2012, 1-16.

Devi, I.N. (2014). Pengaruh PBV, EPS, dan DER Terhadap Harga Saham Dengan Kebijakan Dividend Sebagai Variable Intervening: Studi Pada Perusahaan Manufaktur Yang Terdaftar di BEI Tahun 2009-2013. Universitas Brawijaya. Malang

Dewi, R., Wahyudi, S. (2012). Analisis Pengaruh Rasio Keuangan dan Makro Ekonomi Terhadap Harga Saham pada Perusahaan LQ 45 Index yang Terdaftar di BEI tahun 2007-2011. Diponegoro Journal of Management, 1(1), 1-11.

Dimitropoulos, P., and D. Asteriou. (2009). The Value Relevance of Financial Statements and Their Impact on Stock Price Evidence from Greece. Managerial Auditing Journal. 24(3), 248-265.

Elizabeth, S.M. (2016). Analisis Pengaruh Faktor Fundamental Terhadap Harga Saham dengan ROA Sebagai Variabel Intervening Pada Saham Sektor Pertambangan di Bursa Efek Indonesia Periode 2013-2015. STIE MDP. Palembang.

Ginting, S., & Suriany. (2013). Analisis Faktor-Faktor yang Mempengaruhi Harga Saham Pada Perusahaan Manufaktur di Bursa Efek Indonesia. Jurnal Wira Ekonomi Mikroskil, 3(2).

Guler, Aras., and Mustafa Kemal Yilmaz. (2008). PER, Dividend Yield, and Market to Book Ratio to Predict Return on Stock Market: Evidence from the Emerging Markets. Journal of Global Business and Technology, 4(1).

Hermawanti, P., & Hidayat, W. (2016). Pengaruh Earning Per Share, Price Earning Ratio, Debt to Equity Ratio, Return On Asset, dan Return on Equity Terhadap Harga Saham: Studi Kasus Perusahaan Go Public Sektor Property dan Real Estate. Jurnal Ilmu Administrasi Bisnis, 5(3).

Hidayati, E,E. (2010). Analisis Pengaruh DER, DPR, ROE, dan Size Terhadap PBV Perusahaan Manufaktur yang Listing di BEI periode 2005-2007. Universitas Diponegoro.

Ilham, et.al. (2015). Pengaruh Kinerja Keuangan Terhadap Harga Saham Pada Perusahaan Hotel, Restoran Pariwisata Yang Terdaftar di BEI Tahun 2011-2014, 9(2).

Marlina, T. (2013). Pengaruh Earning Per Share, Return on Equity, Debt to Equity Ratio dan Size Terhadap Price to Book Value. Jurnal Ilmiah Akuntansi dan Kesatuan, 1(1). ISSN 2337-7852. STIE Kesatuan. Bogor.

Mifta, M.S., & Fuadati, S, R. (2012). Pengaruh Current Ratio, Debt to Equity Ratio, Return on Equity, dan Earning Per Share Terhadap Harga Saham Perusahaan Semen yang Terdaftar di Bursa Efek Indonesia. Jurnal Ilmu dan Riset Manajemen, 1(2).

Muksal (2016). Analisis Faktor-Faktor yang Mempengaruhi Harga Saham Syariah: Studi Pada Pasar Sekunder Jakarta Islamic Index. Research Gate.

Permana, Y. (2009). Pengaruh Fundamental Keuangan, Tingkat Bunga dan Tingkat Inflasi terhadap Pergerakan Harga Saham. Jurnal Ilmiah Mahasiswa, 1-6.

Ratih, Dorothea. (2013). Pengaruh Earning Per Share, Price earnings Ratio, Debt to Equity Ratio, dan Return on Equity Terhadap Harga Saham Pada Perusahaan Sektor Pertambangan yang Terdaftar di BEI tahun 2010-2012. Diponegoro Journal of Social and Politic tahun 2013, 1-12.

Riantani, S., et.al. (2011). Analysis of Debt To Equity Ratio and Return On Asset and its Effect to Closing Price of the Mining Industry Listed in BEI. ACSSR2011.

Satryo, A,G., et.al. (2016). The Influence of Profitability Ratio, Market Ratio, and Solvency Ratio on the Share Price of Companies Listed on LQ 45 Index. The Indonesian Accounting Review, 6(1), 55-66. DOI 10.14414.

Setiyawan, Indra. (2014). Pengaruh Current Ratio, Inventory Turnover, Time Interest earned dan Return on Equity terhadap Harga Saham pada Perusahaan Manufaktur Sektor Barang Konsumsi yang terdaftar di BEI Periode 2009-2012. Jurnal Nominal, 3(2), 1-17.

Sitio, Daniel. (2013). Pengaruh Variabel Fundamental terhadap Harga Saham pada Perusahaan Hotel dan Pariwisata di BEI. Jurnal Administrasi Bisnis, 1(2). Universitas Brawijiya.

Syafitri, Y., & Tamba, S.A. (2017). Pengaruh Kinerja Keuangan Terhadap Harga Saham Pada Perusahaan Industri Farmasi yang Terdaftar di BEI 2013-2015. Jurnal Kompetitif, 6(1).

Trisnawati, Mamik. (2012). Pengaruh Current Ratio, Debt to Equity Ratio, Return on Equity, Net Profit Margin dan Earning Per Share Terhadap Harga Saham Studi Kasus Perusahaan Food and Beverages yang Terdaftar di BEI 2009-2012. 1-18. Universitas Dian Nuswantoro: Semarang.




DOI: http://dx.doi.org/10.33021/jaaf.v2i2.552

Refbacks

  • There are currently no refbacks.


Mailing Address

Jl. Ki Hajar Dewantara, Kota Jababeka, Cikarang Baru, Bekasi 17550 - Indonesia

Mail Address

jaaf@president.ac.id

 

ISSN 2580-1791 (Print)

ISSN 2615-8051 (Online)

View My Stats

flag

 

---------------------------------------------------------------------------------------------------------------------------------------------------

JAAF (Journal of Applied Accounting and Finance) is indexed in: