Pengaruh Perubahan Struktur Modal Dan Dividen Pay Out Ratio Terhadap Perubahan Harga Saham Pada Lembaga Keuangan Di BursaEfek Indonesia
DANIEL S. SEMBIRING, The Influence of the Changing of Capital Structure and Dividend Pay Out Ratio on the Changing of Stock Price in Financial Institution in Bursa Efek Indonesia (BEI), under supervised: Ade Fatma Lubis (Head), Syamsul Bahri TRB (Member).The purpose of this research is to find out the empirical evidence about the influence of the changing of capital structure represented by the changing of debt to equity ratio (DER), debt to assets ratio (DAR), long term debt to equity ratio (LDER), long term debt to assets ratio (LDAR), equity to assets ratio (EAR) and also the influence of dividend pay out ratio (DPR) on the changing of stock price in financial institution in Bursa Efek Indonesia (BEI).The hypothesis in this research is the changing of capital structure variables which represented by the changing of debt to equity ratio (DER), debt to assets ratio (DAR), long term debt to equity ratio (LDER), long term debt to assets ratio (LDAR) and equity to assets ratio (EAR) and also dividend pay out ratio variable have an effect on the changing of stock price in financial institution in Bursa Efek Indonesia either simultaneously or partially. The object of this research are the companies of financial institution which are listing in Bursa Efek Indonesia since the year 2003 until 2008, actively publish the financial statement and do payment of dividend during perception year that is counted 18 companies. Data collected by taking documentation financial statement from Indonesian Capital Market Directory (ICMD) and visit Bursa Efek Indonesia web site in www.idx.co.id. Data processed by using SPSS tool and employed multiple regression.The result shows that the changing of capital structure variables represented by the debt to assets ratio (DAR), long term debt to equity ratio (LDER), long term debt to assets ratio (LDAR) and equity to assets ratio (EAR), and also dividend pay out ratio (DPR) variables simultaneously significant influence on the changing of stock price in financial institution, however, the variable of dividend pay out ratio positively influence on the changing of stock price in financial institution in Bursa Efek Indonesia.
Year of publication: |
2010-07-06
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Authors: | Sembiring, Daniel Sehate |
Other Persons: | Lubis, Ade Fatma (contributor) ; Syamsul, Bahri TRB (contributor) |
Subject: | Perubahan Struktur Modal | Perubahan Debt To Assets Ratio | Perubahan Long Term Debt To Equity Ratio | Perubahan Long Term Debt To Assets Ratio | Perubahan Equity To Assets Ratio | Dividen Pay Out Ratio | Perubahan Harga Saham |
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