DAFTAR ISI Halaman ABSTRAK KATA PENGANTAR ................................................................................................
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DAFTAR ISI ............................................................................................................
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DAFTAR TABEL .....................................................................................................
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..........................................................................................
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DAFTAR GAMBAR
DAFTAR LAMPIRAN ............................................................................................ BAB I
BAB II
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PENDAHULUAN 1.1 Latar Belakang Penelitian .............................................................. 1.2 Rumusan Masalah ............................................................................ 1.3 Tujuan Penelitian ........................................................................... 1.4 Kegunaan Penelitian ......................................................................
1 16 17 18
TINJAUAN PUSTAKA, KERANGKA PEMIKIRAN DAN HIPOTESIS 2.1 Piutang ........................................................................................ 2.1.1 Pengertian piutang .......................................................... 2.1.2 Klasifikasi piutang .......................................................... 2.1.3 Sistem pengendalian piutang.............................................. 2.1.4 Tingkat perputaran piutang ............................................. 2.2 Modal Kerja .................................................................................. 2.2.1 Pengertian modal kerja ....................................................... 2.2.2 Jenis-jenis modal kerja ...................................................... 2.2.2.1 Modal kerja permanen ......................................... 2.2.2.2 Modal kerja variabel ............................................ 2.2.3 Sumber-sumber modal kerja .............................................. 2.2.4 Fungsi modal kerja ........................................................... 2.2.5 Perputaran Modal Kerja .................................................... 2.2.5.1 Metode Perputaran Modal Kerja ......................... 2.2.5.2 Komponen Perputaran Modal Kerja .................... 2.3 Profitabilitas ................................................................................. 2.3.1 Pengertian profitabilitas ...................................................... 2.3.2 Rasio profitabilitas .............................................................. 2.3.2.1 Profit margin .......................................................... 2.3.2.2 ROA (Return on Asset) .......................................... 2.3.2.3 ROE (Return on Equity) ......................................... 2.3.2.4 ROI (Return on Investment) ................................... 2.3.2.5 Earning Per Share (EPS) ......................................... 2.4 Saham ........................................................................................... 2.4.1 Pengertian Saham ................................................................ 2.4.2 Jenis-jenis Saham ................................................................. 2.4.2.1 Saham preferen ........................................................ 2.4.4.2 Saham biasa ............................................................. 2.4.2.2.1 Blue chip stock .......................................... 2.4.2.2.2 Speculative stock ....................................... 2.4.2.2.3 Income stock ............................................. 2.4.2.3 Saham Treasuri ......................................................... 2.4.3 Hak-hak Saham .....................................................................
20 20 24 25 27 28 28 33 33 33 34 37 38 39 40 42 42 45 45 46 46 47 49 49 49 50 50 51 52 52 52 52 52
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2.4.4 Nilai Saham .......................................................................... 2.4.4.1 Nilai Buku ................................................................. 2.4.4.2 Nilai pasar ................................................................. 2.4.4.3 Nilai Intrinsik ............................................................ 2.4.5 Analisa Harga Saham ............................................................. 2.4.6 Penilaian Harga Saham .......................................................... 2.5 Kerangka Pemikiran ........................................................................ 2.6 Hipotesis Penelitian ........................................................................
BAB III
METODE PENELITIAN 3.1 3.2 3.3 3.4 3.5 3.6 3.7
Objek .......................................................................................... Metode penelitian ......................................................................... Populasi dan teknik pengambilan sampel ........................................ Metode pengumpulan data ............................................................ Jenis dan sumber data ................................................................... Operasionalisasi Variabel ................................................................ Teknik Analisis data ...................................................................... 3.7.1 Uji Normalitas ..................................................................... 3.8 Uji Hipotesis ................................................................................
BAB IV
53 53 53 54 54 55 57 62
HASIL PENELITIAN DAN PEMBAHASAN 4.1 Gambaran Umum Obyek Penelitian.................................................
4.1.1 Bursa efek Indonesia ……………........................... 4.1.1.1 PT. Akasha Wira International Tbk .......................... 4.1.1.2 PT. Aqua Golden Mississippi Tbk ............................ 4.1.1.3 PT. Cahaya Kalbarl Tbk …………….......................... 4.1.1.4 PT. Davomas Abadi Tbk .......................................... 4.1.1.5 PT. Delta Djakarta Tbk ............................................ 4.1.1.6 PT. Fast Food Indonesial Tbk ……............................ 4.1.1.7 PT. Indofood Sukses Makmur Tbk ............................ 4.1.1.8 PT. Mayora Indah Tbk ............................................. 4.1.1.9 PT. Multi Bintang Indonesia Tbk …......................... 4.1.1.10 PT. Pioneerindo Aneka Niaga Tbk …...................... 4.1.1.11PT. Prasidha Aneka Niaga Tbk …............................ 4.1.1.12 PT. Sekar Laut Tbk …………………...................... 4.1.1.13 PT. Siantar Top Tbk .......................….................... 4.1.1.14 PT. Sinar Mas Argo Resouces Tbk …...................... 4.1.1.15 PT. Tiga Pilar Sejahtera Tbk ………....................... 4.1.1.16 PT. Tunas Baru Lampung Tbk …..…...................... 4.1.1.17 PT. Ultrajaya Milk Industy Tbk ……....................... 4.2 Deskripsi Data Penelitian …………………………………………..…. 4.2.1 Tingkat Perputaran Piutang ................................................. 4.2.2 Tingkat Perputaran Modal Kerja............................................ 4.2.3 Tingkat Profitabilitas(ROE) ................................................. 4.2.4 Rasio Harga Saham ……………………………………...……. 4.3 Pengaruh Perputaran Piutang terhadap Perputaran Modal Kerja ……………………………………………………………………….. 4.4 Pengaruh Perputaran Piutang dan Perputaran Modal Kerja Terhadap Profitabilitas(ROE) ……………...................................................... 4.5 Pengaruh Profitabilitas Terhadap Harga Saham ................................ 4.6 Perhitungan Pengaruh ................................................................... 4.6.1 Pengaruh Langsung .............................................................. 4.6.2 Pengaruh Tidak Langsung .....................................................
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63 63 64 66 67 67 69 69 74
80 80 86 87 88 90 91 93 94 96 97 99 100 99 102 103 105 106 108 110 110 113 117 120 124 130 140 146 146 147
BAB V
4.6.3 Pengaruh Total .....................................................................
147
KESIMPULAN DAN SARAN................................................................. 5.1 Kesimpulan............................................................................................ 5.2 Saran.....................................................................................................
149 149 151
DAFTAR PUSTAKA................................................................................................ LAMPIRAN
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DAFTAR TABEL
Tabel 1.1
Daftar Harga Saham Perusahaan Food & Beverages Tahun 2006 – 2008
Tabel 1.2
Daftar Rasio Harga Saham Perusahaan Food & Beverages Tahun 2006 – 2008 dengan Harga Saham Tahun 2005
Tabel 3.1
Sampel Perusahaan Food & Beverages di Bursa Efek Indonesia Tahun 2006 – 2008
Tabel 4.1
Nama Perusahaan Food & Beverages Tahun 2006 – 2008 di Bursa Efek Indonesia (BEI)
Tabel 4.2
Tingkat Perputaran Piutang pada Perusahaan Food & Beverages yang terdaftar di Bursa Efek Indonesia (BEI)
Tabel 4.3
Tingkat Perputaran Modal Kerja pada Perusahaan Food & Beverages yang terdaftar di Bursa Efek Indonesia (BEI)
Tabel 4.4
Tingkat Profitabilitas(ROE) pada Perusahaan Food & Beverages yang terdaftar di Bursa Efek Indonesia (BEI)
Tabel 4.5
Rata-rata Harga Saham pada Perusahaan Food Beverages yang terdaftar di Bursa Efek Indonesia (BEI)
Tabel 4.6
Deskriptif Variabel
Tabel 4.7
Hasi Uji Statistik Path Analysis Pengaruh Perputaran Piutang dan Perputaran Modal Kerja
Tabel 4.8
Hasil Uji Statistik Path Analysis Uji F Pengaruh Perputaran Piutang dan Perputaran Modal Kerja
Tabel 4.9
Hasil Uji Hipotesis
Tabel 4.10
Hasil Uji Statistik Path Analysis Uji t Pengaruh Perputaran Piutang dan Perputaran Modal Kerja
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&
Tabel 4.11
Hasil Uji Hipotesis
Tabel 4.12
Hasil Uji Statistik Path Analysis Pengaruh Perputaran Piutang dan Perputaran Modal Kerja terhadap Profitabilitas(ROE)
Tabel 4.13
Hasil Uji Statistik Path Analysis Uji F Pengaruh Perputaran Piutang dan Perputaran Modal Kerja terhadap Profitabilitas(ROE)
Tabel 4.14
Hasil Uji Hipotesis
Tabel 4.15
Hasil Uji Statistik Path Analysis Uji t Pengaruh Perputaran Piutang dan Perputaran Modal Kerja terhadap Profitabilitas(ROE)
Tabel 4.16
Hasil Uji Hipotesis
Tabel 4.17
Perhitungan Correlations antara Pengaruh Perputaran Piutang dan Perputaran Modal Kerja dan Profitabilitas(ROE) menggunakan SPSS 18
Tabel 4.18
Hasil Uji Statistik Path Analysis Pengaruh Profitabilitas(ROE) terhadap Harga Saham
Tabel 4.19
Hasil Uji Statistik Path Analysis Uji Profitabilitas(ROE) terhadap Harga Saham
Tabel 4.20
Hasil Uji Hipotesis
Tabel 4.21
Hasil Uji Statistik Path Analysis Uji Profitabilitas(ROE) terhadap Harga Saham
Tabel 4.22
Hasil Uji Hipotesis
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F
Pengaruh
t
Pengaruh
DAFTAR GAMBAR
Gambar 4.1 Normalitas Rasio Harga Saham
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