Authors: Mangasi Sinurat, Erlina, Murni Daulay


Year: 2019, Volume 28 No.3 Special Issue
Pages: 35-42

ABSTRACT

After the global crisis in 2008 – 2012, the Indonesian economy was able to grow high accompanied by maintained stability. This ultimately led to increases in asset prices including property. The increase in property prices ultimately increased the amount of demand for these properties and affected the growth of the property sector in Indonesia. This is what drives investors to invest in property companies and in the end makes the property sub-sector one of the sectors that look good on the stock. So to examine the indicators that affect the price of the property sector, this study examines the effect of Economic Value Added, Return on Equity, and Earning Per Share on Stock Prices with Price Earning Ratio as a Moderating Variable at Property Sector Companies in  Indonesia Stock Exchange. The data used is secondary data in the form of annual reports and financial statements of property sector companies issued on the Indonesia Stock Exchange. The sample used in this study was 30 companies with an observation period of 5 (five) years, namely from 2012 – 2016. The analysis used in this study was multiple linear regression analysis and Moderating Regression Analysis with the residual method. The results of this study indicate that partially Economic Value Added has a positive and significant effect on stock prices, Return On Equity has a negative and significant effect on stock prices, and Earning Per Share has a positive and significant effect on stock prices. Variable Price Earning Ratio cannot moderate the relationship of Economic Value Added, Return On Equity and Earning Per Share to stock prices both partially and simultaneously. The effect of Economic Value Added, Return On Equity and Earning Per Share simultaneously has a significant effect on stock prices with a coefficient of determination 75.3%.

Keywords :Economic Value Added, Return On Equity, Earning Per Share, Price Earning Ratio, Stock Price

10.5281/zenodo.3270546