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Pengaruh CR (Current Rasio), DER (Debt To Equity Rasio) dan TATO (Total Assets Turn Over) Terhadap Harga Saham (Studi Pada Perusahaan Sub Sektor Farmasi di Bursa Efek Indonesia Periode 2015-2018)

*Puspita Anjayagni  -  Universitas Diponegoro, Indonesia
Dinalestari Purbawati  -  Universitas Diponegoro, Indonesia

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Abstract

The capital market is increasingly in demand by the public. Not only become a source of funding for the company, as well as place for investors to invest. The average share price on fluctuating pharmaceutical companies tend to decline. This allows investors to experience financial risks. For that investor needs to know what are the factors that can affect the price of the stock. The analysis technique used linear regression. The results of the research indicates that partially Debt to Equity Ratio (DER) has a significant effect on the stock price of the pharmaceutical companies, while the Current Ratio (CR) and Total Asset Turnover (TATO) has no effect on the pharmaceutical company's stock price. Simultaneously  Current Ratio, Debt to Equity Ratio and Total Asset Turnover significantly affects the pharmaceutical company's stock price. The advice that can be given to the company sub-sector of pharmacy is to increase the use of company's current assets such as maintaining cash flow, inventory management and controlling receivables. And can increase the company's debt use to increase the company's assets expected to increase the company's profit. Then for investors who will invest their funds is expected not only to see financial ratios only but can consider the external factors of the company that can affect the price of the stock.

Pasar modal kini semakin diminati oleh masyarakat. Tidak hanya menjadi salah satu sumber pendanaan bagi perusahaan, pasar modal kini menjadi sarana bagi investor untuk berinvestasi. Rata-rata harga saham pada perusahaan farmasi berfluktuasi cenderung menurun. Hal ini memungkinkan investor mengalami resiko keuangan. Untuk itu investor perlu mengetahui apa saja faktor - faktor yang dapat mempengaruhi harga saham. Teknik analisis yang digunakan yaitu regresi linier. Hasil penelitian menunjukan bahwa secara parsial Debt to Equity Ratio (DER) berpengaruh signifikan terhadap harga saham perusahaan farmasi, sedangkan Current Ratio (CR) dan Total Asset Turnover (TATO) tidak berpengaruh terhadap harga saham perusahaan farmasi. Secara simultan terdapat pengaruh signifikan antara Current Ratio, Debt to Equity Ratio, dan Total Asset Turnover. Berdasarkan hasil penelitian, saran yang dapat diberikan kepada perusahaan sub sektor farmasi yaitu meningkatkan penggunaan asset lancar perusahaan seperti menjaga aliran kas, pengelolaan persediaan dan melakukan pengendalian piutang. Serta dapat meningkatkan penggunaan hutang perusahaan untuk meningkatkan aset perusahaan yang diharapkan akan meningkatkan laba perusahaan. Kemudian untuk investor yang akan menanamkan dananya diharapkan tidak hanya melihat rasio keuangan saja tetapi dapat mempertimbangkan faktor-faktor eskternal perusahaan yang dapat mempengaruhi harga saham.

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Subject Stock Price, Current Ratio, Debt to Equity Ratio and Total Assets Turn Over
Type Research Results
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Keywords: Current Rasio, Debt to Equity Rasio; Harga Saham; Total Assets Turn Over

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