Faktor-Faktor Fundamental, Kondisi Makro Ekonomi dan Return Saham Perusahaan Pertambangan di Bursa Efek Indonesia
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Abstract
A B S T R A C T
The main goal is to get investors to invest a high return. The mining company is an industry sector that gives investors hope to get high returns because the sector is undergoing a lot of changes in regulation since 2008. The government has tried to protect the export of raw materials mining and requires employers to process before being exported. Macroeconomic conditions and fundamental factor is that many factors affect stock prices. This study aimed to prove the effect of fundamental factors and macroeconomic conditions toward stock returns on mining companies. The results showed that there are significant fundamental factors and macroeconomic conditions toward stock returns. Fundamental factors that affect the return is the ratio of price to book value, while the macro-economic conditions which proved to affect the return is inflation.
A B S T R A K
Tujuan utama investor berinvestasi adalah mendapatkan return yang tinggi. Perusahaan tambang merupakan sektor industri yang memberikan harapan investor untuk mendapatkan return tinggi karena sektor ini mengalami banyak perubahan regulasi sejak tahun 2008. Pemerintah berupaya memproteksi ekspor bahan mentah tambang dan mewajibkan pengusaha untuk mengolahnya sebelum diekspor. Kondisi ekonomi makro dan faktor fundamental merupakan faktor yang banyak mempengaruhi harga saham. Penelitian ini bertujuan untuk membuktikan pengaruh faktor fundamental dan kondisi ekonomi makro terhadap return saham pada perusahaan tambang. Hasil penelitian adalah terdapat pengaruh faktor fundamental dan kondisi ekonomi makro terhadap return saham. Faktor fundamental yang ditemukan berpengaruh adalah rasio price to book value, sedangkan kondisi ekonomi makro yang terbukti berpengaruh adalah inflasi.
JEL Classification: G14, F62
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