Volume XVI/02/Meei/2012, Hlm. 191 – 208
ISSN No. 1410-3591
Pengaruh Rasio Keuangan Pertumbuhan Penjualan terhadap Deviden dan Implikasinya pada Harga Saham
STIE Trisakti/Trisakti School of Management
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Official URL: http://www.tsm.ac.id/jurnal/Pengaruh Rasio Keuangan Pertumbuhan Penjualan Terhadap Deviden Dan Implikasinya Pada Harga Saham.pdf
This research is aimed to know the influence of financial performance to management decision in paying devidend to the stock holder. The determinants of stock prices have been investigated by scholars and practitioners by employing a variety of methods and factors. This study investigates the internal determinants of the stock price movement on sector basis.The purpose of this study is to empirically study the effect of accounting variables— profitability ratio, liquidity ratio, and sales growth —on dividend payout ratio and the implications with stock price at the firm LQ 45 on Jakarta Stock Exchange (JSX).
Sampling Method used in this study is the method of purposive sampling is the sampling method based on certain criteria. The number of samples used in this study based on the criteria of a total from 45 firms registered on JSX in the analysis more than less 20 are used as samples for this study. The Study was conducted in the period 2003-2008. So the observation data obtained at more than less 51 observations data.
The result of this study using path analysis finds that only two variables (liquidity ratio and current ratio) that significantly affect the following year stock price with level of significance 5 percent. The ratio is used for research profitability, liquidity sales growth and dividend payout ratio the implication on the stock price, The research showed the company fundamental, its financial aspect became consideration to the dividend and there is implication at stock prices.
Keywords: stock price, dividend, sales growth, profitability, likuidity.