Abstrak singgih

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  i x ABSTRAK PENGARUH KINERJA KEUANGAN TERHADAP RETURN   SAHAM PADA PERUSAHAAN YANG TERKATEGORI DALAM SISTEM LOGISTIK NASIONAL PERIODE 2012-2014   Oleh Singgih Prayoga Penelitian ini bertujuan untuk menganalisis pengaruh kinerja keuangan terhadap return  saham pada perusahaan yang terkategori dalam sistem logistik nasional  periode 2012-2014.Populasi penelitian ini adalah perusahaan - perusahaan yang terkait dengan kebijakan Sislognas pada periode 2012-2014. Sampel penelitian menggunakan metode  Purposive sampling.  Penelitian ini menggunakan 24  perusahaan. Teknik analisis menggunakan analisis regresi linier berganda. Model estimasi menggunakan metode Generalized least square (GLS). Hasil analisis uji-t dalam penelitian ini menunjukan bahwa ROE, tidak berpengaruh signifikan terhadap  Return  Saham. ROE dipandang bukan merupakan laba sebenarnya melainkan hanya laba akuntansi yang belum dikurangi dengan biaya investasi ( Cost of Capital  ).ROA tidak berpengaruh signifikan terhadap  Return Saham.ROA dipandang belum dapat mengukur efektifitas perusahaan di dalam menghasilkan keuntungan dengan memanfaatkan aktiva yang dimilikinyadalam menghasilkan keuntungan. DER tidak  berpengaruh signifikan terhadap  Return Saham.DER merupakan alat ukur yang relevan menilai kinerja keuangan dan hasil operasi perusahaan dalam faktor  perekonomian mikro saja.Serta CR tidak berpengaruh signifikan terhadap Return Saham. CR yang rendah dipandang belum tentu akan menyebabkan terjadi penurunan harga pasar dari harga saham yang bersangkutan.Dan Hasil uji F menunjukkan bahwa ROE, ROA, DER dan CRtidak berpengaruh signifikan terhadap  Return Saham. Investor beranggapan bahwa kinerja keuangan dengan pengukuran ROE, ROA, DER dan CR belum mampu memberikan sinyal atas kondisi perusahaan yang baik karena harus melihat faktor-faktor yang mempengaruhi baik eksternal maupun internal. Kata Kunci : Return On Equity   (ROE), Return On Asset (ROA), Debt to Equity   (DER), Current Ratio  (CR) Return Saham.  i x ABSTRACT THE IMPACT OF FINANCIAL PERFORMANCE ON THE STOCK RETURN AT THE COMPANIES CATEGORIZED IN THE NATIONAL LOGISTICS SYSTEM IN THE OF 2012-2014 By Singgih Prayoga The purpose of this research was to analyze the impact of financial performance on the stock return at the companies categorized in the national logistics system for the  period of 2012-2014. The population of this research was the companies associated in the national logistics system in the period of 2012-2014. The sample of this research was taken by using Purposive sampling method. This research used the 24 companies. The analysis used multiple linear regression analysis. The estimation model used the method of Generalized Least Square (GLS). The T-test analysis results in this research indicated that ROE had no significant effect on the stock return. ROE was viewed as unreal profit but rather just an accounting profit that was not reduced by the cost of the investment (Cost of Capital). ROA had no significantly effect on the stock return. ROA was considered unable to measure the effectiveness of the company in generating profits by leveraging its assets in generating profits. DER had no significantly effect on the stock return. DER was a relevant measurement tool for the financial performance and the operating results of the company in the micro-economy factors only. CR had no significantly effect on the stock return. Low CR was seen not necessarily to cause the market price of the stock  price to decrease. And F test results indicated that ROE, ROA, DER and CR had no effect significantly to stock return. Investors assumed that the financial performance with the measurement of ROE, ROA, DER and CR has not able to deliver signals over the condition of a good company because they had to look at factors that effect  both externaly and internaly. Keywords: Return On Equity   (ROE), Return On Assets  (ROA), Debt to Equity Ratio  (DER), Current Ratio  (CR)  Stock Return .
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