PENGARUH CURRENT RATIO, DEBT TO EQUITY RATIO, RETURN ON ASSETSTERHADAP PRICE EARNING RATIO MELALUI PRICE TO BOOK VALUE SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN MANUFAKTUR DI BIDANG OTOMOTIF DAN KOMPONEN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2012-2016

Abstract

This research aims to determine the effect of financial ratios on Price Earning Ratio (PER) on manufacturing companies in the automotive and component sectors that are flat on the Indonesia Stock Exchange. In fundamental analysis, price earnings ratio is often used because it is quite easy to understand by investors and prospective investors as a measure to determine how the market gives value to a company. In this study using independent variables namely Current Ratio (CR), Debt to Equity Ratio (DER) and Return on Assets (ROA), the dependent variable in this study is the Price Earning Ratio (PER) and the influencing variable namely Price to Book Value (PBV).
Research method used is multiple linear regression model. The type of data used is secondary data from automotive and component manufacturing companies listed on the Indonesia Stock Exchange for 5 years in 2012, 2013, 2014, 2015, 2016. Sampling is done pooling (Pooled Time Series) which is a combination of data time series and cross section data. The sample used is thirteen manufacturing companies.
Results show that Current Ratio (CR), Debt to Equity Ratio (DER), Return on Assets (ROA) have a positive influence on Price To Book Value (PBV). Current Ratio (CR),), Return on Assets (ROA), Price to Book Value (PBV) have a positive influence on Price Earning Ratio (PER), while Debt to Equity Ratio (DER) has a negative effect on Price Earning Ratio (PER) . This research can be used as a reference for investors in predicting the company's future stock prices and in making investment decisions.
Keywords :CR, DER, ROA, PBV, PER