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JURNAL BISNIS DAN AKUNTANSI
Vol. 15, No. 1a, Is. 1, November 2013, Hlm. 13-40

PENGARUH COMPANY SIZE, VARIABILITY OF EARNINGS, DEBT-EQUITY RATIO, DIVIDEND PAYOUT RATIO, DAN TOBIN’S Q TERHADAP PRICE EARNINGS RATIO PADA SAHAM PERUSAHAAN

A.SRI WAHYUDI

STIE Trisakti
wahyudi@stietrisakti.ac.id

 

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http://www.tsm.ac.id/JBA/JBAVOL15/PENGARUH COMPANY SIZE, VARIABILITY OF EARNINGS, DEBT-EQUITY RATIO, DIVIDEND PAYOUT RATIO, DAN TOBIN’S Q TERHADAP PRICE EARNINGS RATIO PADA SAHAM PERUSAHAAN

ABSTRACT:

The purpose of this research is to test and analyze empirically the effect of company size, variability of earnings, debt equity ratio, dividend payout ratio, and tobin’s q toward price earnings ratiowhich is proxied by divided closing price to its earnings per share. This study was also to compare result of the previous research within the research. Data for this study of price earnings ratiocalculated from the annual financial statement of the listed property and real estate companies in Indonesia Stock Exchange over the five years period 2009-2013. The data used in this study are pooled time series and cross section data. This research explores five variables set as predictors of PER. The purposive sampling is used as sampling technique, where nine companies met the criterias and were analyzed using descriptive statistics and panel data regressions with fixed effect model to test the hypotheses. The result of this research shows that company size, debt- equity ratio, and Tobin’s Q influence price earnings ratio, while dividend payout ratio and variability of earnings do not influence price earnings ratio. In addition, overall the independent variables influence price earnings ratio simultaneously.

Keyword :Company Size, Variability of Earnings, Debt Equity Ratio, Dividend Payout Ratio, Tobin’s Q,Price Earnings Ratio
 
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