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Abstract:
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Return On Assets (ROA), Return On Equity (ROE), and Price Earning Ratio
(PER) are indicators in analyzing stocks. This study aims to determine: the effect
of Return On Assets (ROA), Return On Equity (ROE), and Price Earning Ratio
(PER) partially and simultaneously on stock prices. This type of research is
quantitative. The population in this study are companies listed in the LQ45 index
on the Indonesia Stock Exchange in 2016-2020 with a sampling technique that is
purposive sampling method and obtained 44 companies that meet the criteria. The
data analysis technique used is multiple linear regression analysis and hypothesis
testing using statistical tests, namely t-test and f-test. The results of the study state
that: 1) Return on Assets (ROA) partially has a positive and insignificant
direction on stock prices with a tcount value smaller than ttable (0.260 < 1.971)
with a significance value of 0.795 > 0.05 and the magnitude of the effect is 0.
,2%; 2) Return On Equity (ROE) partially has a positive and significant direction
on stock prices with a value of tcount greater than ttable, namely (3.186 > 1.971)
with a significance value of 0.002 < 0.05 and the magnitude of the effect is 4.5%;
3) Price Earning Ratio (PER) partially has a positive and significant direction on
stock prices with a value of tcount greater than ttable, namely (73.552 > 1.971)
with a significance value of 0.000 <0.05 and the magnitude of the effect is 76.3%;
4) ROA, ROE, and PER simultaneously have a positive and significant direction
on stock prices with a value of tcount less than ttable, namely (2137.33 > 3.04)
with a significance value of 0.000 < 0.05. The result of the coefficient of
determination (Adjusted R2) is 0.967, which means 96.7% of stock price
variations can be explained by variations of the three independent variables while
the rest is explained by other reasons outside the study such as other financial
ratios or policies from companies or the government. |