The Influence of Fundamental and Macroeconomic Analysis on Stock Price

Hari Gursida

Abstract


The purpose of this research is to analyze the effect of fundamental and macroeconomic analysis on stock price. The research was conducted at a coal company listed on the Indonesia Stock Exchange. Fundamental analysis measured by current ratio, debt to equity ratio (DER), earning per share (EPS), return on assets (ROA), and total assets turnover (TATO), while macroeconomic analysis is measured by inflation and exchange rate.  Current ratio (CR) has a positive effect on Stock Price. Strengthening this level of liquidity can provide information to investors to decide to buy shares of companies that tend to be healthy and stable. Return on assets (ROA) has a positive and significant influence on stock price. Efforts to maximize the level of profitability by increasing the value of return on assets can provide information to investors that investments invested in the company will provide good profit. The impact of stock prices will rise. While debt to equity ratio (DER), earning per share (EPS) and total assets turnover (TATO) have no effect on Stock Price.  Macroeconomic analysis shows: (a) Inflation rate has no effect on stock price of coal company. This can be because the inflation rate in Indonesia is at the level of 6% -7% per year and included in the category of mild inflation. Mild inflation resulted in very slow economic growth, not affecting stock prices. The exchange rate has a negative and significant effect on coal company stock price. If the Rupiah is depreciated then the stock price of the coal company will decrease.


Keywords


fundamental analysis, macroeconomics, stock price

Full Text:

PDF

References


Agnes Sawir, 2005. Analisis Kinerja Keuangan dan Perencanaan Keuangan Perusahaan. Jakarta: Gramedia Pustaka Utama

Danika Reka Artha, Noer Azam Achsani dan Hendro Sasongko. 2014. Analisis Fundamental, Teknikal dan Makroekonomi Harga Saham Sektor Pertanian. Jurnal Manajemen dan Kewirausahaan. Vol. 16, No. 2: h.175-184.

Fahmi, I. 2011. Analisis Kinerja Keuangan: Panduan bagi Akademisi, Manajer, dan Investor untuk Menilai dan Menganalisis Bisnis dari Aspek Keuangan. Bandung: CV. Alfabeta.

Lomi, R.G., 2012. Analisis Pengaruh Inflasi, Harga Minyak, dan Invesment Grade Terhadap Harga Saham di Indeks Bisnis-27 Periode 2009-2011. Tesis. Jakarta: Universitas Indonesia.

Ponggohong, J.O.Y., Sri Murni, dan Marjan Mangantar. 2016. Pengaruh Kinerja Keuangan Terhadap Harga Saham (Studi Pada Perusahaan Ritel yang Terdaftar di BEI Tahun 2010-2013). Jurnal Berkala Ilmiah Efisiensi. Volume 16 No. 01 Tahun 2016.

Rachman, A.A., dan Sutrisno. 2013. Analisis Pengaruh Faktor-Faktor Fundamental Terhadap Harga Saham Perusahaan Manufaktur. Jurnal. Proceeding Seminar Nasional Dan Call For Papers Sancall. Surakarta, 23 Maret 2013. ISBN: 978‐979‐636‐147‐2

Samsul, M. 2015. Pasar Modal dan Manajemen Portofolio. Edisi 2. Surabaya: Erlangga.

Setiyawan, I dan Pardiman. 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. Yogyakarta: Jurnal NominalEXRVolume III Nomor 2EXRTahun 2014. Universitas Negeri Yogyakarta.

Tandelilin, E. 2010. Portofolio dan Investasi: Teori dan Aplikasi. Edisi Pertama. Yogyakarta: Kanisius.




DOI: http://dx.doi.org/10.26737/jtmb.v3i2.324

Refbacks

  • There are currently no refbacks.


INDEXING

 

JTMB INDEXED BY:

      

 

Gambar sisip 1

JTMB On Progress Indexed by:

Published by:

Institute for Managing and Publishing of Scientific Journals STKIP Singkawang

Jurnal Terapan Manajemen dan Bisnis

e-ISSN : 2477-5282

p-ISSN : 2599-3127

Sekolah Tinggi Keguruan dan Ilmu Pendidikan (STKIP) SIngkawang

Address : STKIP SIngkawang, Jalan STKIP - Kelurahan Naram Singkawang, Kalimantan Barat, INDONESIA, 79251
No. Telp.   : +62562 420 0344
No. Fax.    : +62562 420 0584

  

Email Cordinator: journal@stkipsingkawang.ac.id / soehartostkipsingkawang@gmail.com /Wa : +6289636659622

Plagiarism Tools

    

  Creative Commons License

Jurnal Terapan Manajemen dan Bisnis is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.