Holding Period of Common Stock
PENGARUH LABA PER SAHAM DAN DIVIDEND PAYOUT RATIO TERHADAP
HOLDING PERIOD SAHAM PERUSAHAAN LQ-45 DI BURSA EFEK INDONESIA
PERIODE 2008-2010
RIZKI PUTRI NURITA F Jurusan Akuntansi, Fakultas Ekonomi, Universitas Syiah Kuala
ABSTRACT The objective of this research is to examine the influences of earnings per share and dividend payout ratio to common stock holding period. The research was conducted at the companies listed in the LQ-45 Index in the Indonesia Stock Exchange in 2008-2010. This type of study is a hypothesis-testing research. The research method used in this research is purposive sampling. Sample in this study are companies registered in the LQ-45 Index that have complete data for the variables studied. Sum of the sample is the 45 sample acquired during the three years of observation. Data collection techniques using secondary data from financial statements that have been audited and published and quantitative data obtained from the official website of the Indonesia Stock Exchange (www.idx.co.id). Data is analysed by using multiple regression analysis. The results showed that (1) the earnings per share and dividend payout ratio simultaneously has not influence the holding period, (2) while the earnings per share partially has not influence on the holding period, and (3) dividend payout ratio has not influence on the holding period. Keywords: earnings per share, dividend payout ratio, holding period.
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PENDAHULUAN Pasar modal bertujuan untuk menjembatani aliran dana dari pihak yang memiliki dana (investor) dengan pihak perusahaan yang memerlukan dana (Hadi, 2008). Investor sebagai pihak yang kelebihan dana senantiasa melakukan pengamatan terhadap setiap perkembangan pasar modal maupun harga saham yang menjadi salah satu objek investasinya. Hal ini dilakukan oleh investor terkait dengan keputusan investasi dan besarnya tingkat pengembalian yang diharapkan. Investor memiliki kebebasan untuk memilih jenis saham perusahaan yang akan menjadi objek
HOLDING PERIOD SAHAM PERUSAHAAN LQ-45 DI BURSA EFEK INDONESIA
PERIODE 2008-2010
RIZKI PUTRI NURITA F Jurusan Akuntansi, Fakultas Ekonomi, Universitas Syiah Kuala
ABSTRACT The objective of this research is to examine the influences of earnings per share and dividend payout ratio to common stock holding period. The research was conducted at the companies listed in the LQ-45 Index in the Indonesia Stock Exchange in 2008-2010. This type of study is a hypothesis-testing research. The research method used in this research is purposive sampling. Sample in this study are companies registered in the LQ-45 Index that have complete data for the variables studied. Sum of the sample is the 45 sample acquired during the three years of observation. Data collection techniques using secondary data from financial statements that have been audited and published and quantitative data obtained from the official website of the Indonesia Stock Exchange (www.idx.co.id). Data is analysed by using multiple regression analysis. The results showed that (1) the earnings per share and dividend payout ratio simultaneously has not influence the holding period, (2) while the earnings per share partially has not influence on the holding period, and (3) dividend payout ratio has not influence on the holding period. Keywords: earnings per share, dividend payout ratio, holding period.
1
PENDAHULUAN Pasar modal bertujuan untuk menjembatani aliran dana dari pihak yang memiliki dana (investor) dengan pihak perusahaan yang memerlukan dana (Hadi, 2008). Investor sebagai pihak yang kelebihan dana senantiasa melakukan pengamatan terhadap setiap perkembangan pasar modal maupun harga saham yang menjadi salah satu objek investasinya. Hal ini dilakukan oleh investor terkait dengan keputusan investasi dan besarnya tingkat pengembalian yang diharapkan. Investor memiliki kebebasan untuk memilih jenis saham perusahaan yang akan menjadi objek