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Pengaruh Kinerja Keuangan terhadap Harga Saham Perusahaan Asuransi Umum di Bursa Efek Indonesia Periode 2017-2021

*Nuzulul Nafis  -  Department of Business Administration, Universitas Diponegoro, Jl. Prof. Sudarto, SH, Tembalang, Semarang, Indonesia 50275, Indonesia
Andi Wijayanto  -  Department of Business Administration, Universitas Diponegoro, Jl. Prof. Sudarto, SH, Tembalang, Semarang, Indonesia 50275, Indonesia
Open Access Copyright 2023 The Author

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Abstract

The insurance industry in Indonesia has great opportunities, but insurance is a risk-intensive business because the occurrence of claims is always shrouded in uncertainty. Investors need information in making investment decisions that are obtained by looking at the company's financial performance. Good company performance will be more attractive to investors so that the stock price increases. This study aims to determine the effect of financial performance proxied by the solvency ratio, liquidity ratio, and earnings per share on stock prices. The population in this study are general insurance companies listed on the Indonesian Stock Exchange for the period 2017-2021. The sample consist of 11 companies using purposive sampling method. This study used a linear regression analysis technique with the SPSS program. The results of this study showed that the solvency ratio, liquidity ratio, and earnings per share simultaneously have a significant effect on stock prices. Partially the solvency ratio has significant negative effect on stock price, earnings per share has significant positive effect on stock prices. While the liquidity ratio has no significant effect on stock prices.


Industri asuransi di Indonesia memiliki peluang yang besar namun asuransi merupakan usaha yang padat risiko kerena kejadian klaim selalu diliputi ketidakpastian. Investor membutuhkan informasi dalam pengambilan keputusan berinvestasi yang didapatkan dengan melihat kinerja keuangan perusahaan. Kinerja perusahaan yang baik akan lebih diminati investor sehingga harga sahamnya meningkat. Penelitian ini bertujuan untuk mengetahui pengaruh kinerja keuangan yang diproksikan oleh solvency ratio, liquidity ratio, dan earning per share terhadap harga saham. Populasi dalam penelitian ini adalah perusahaan asuransi umum yang terdaftar di Bursa Efek Indonesia periode 2017-2021. Sampel terdiri dari 11 perusahaan menggunakan metode purposive sampling. Penelitian ini menggunakan teknik analisis regresi linier dengan program SPSS. Hasil penelitian menunjukkan bahwa solvency ratio, liquidity ratio, dan earning per share secara simultan berpengaruh signifikan terhadap harga saham. Secara parsial solvency ratio berpengaruh negatif signifikan terhadap harga saham, earning per share berpengaruh positif signifikan terhadap harga saham. Sedangkan liquidity ratio tidak berpengaruh signifikan terhadap harga saham.

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Keywords: Earning Per Share; Liquidity Ratio; Solvency Ratio; Stock Price

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