PENGARUH RETURN ON INVESTED CAPITAL (ROIC), BIAYA MODAL UTANG, BIAYA MODAL SAHAM, DAN PERTUMBUHAN INVESTED CAPITAL TERHADAP RETURN SAHAM PADA PERUSAHAAN SUB SEKTOR FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2011 – 2016
Daftar Isi:
- This research analyzed the influence of Return On Invested Capital, Cost Of Debt, Cost Of Equity and Growth in Invested Capital to the Shareholder’s Return. The object of this research is the sub-sector pharmacy company listed in Indonesia Stock Exchange period 2011 - 2016. This research used a casual research as the research design. Samples were selected by purposive sampling method. The result of t-test showed that Cost Of Debt and Cost Of Equity has significantly effect on Shareholder’s Return, while Return On Invested Capital and Growth in Invested Capital has not significantly effect on Shareholder’s Return of the sub sector pharmacy company listed on Indonesia Stock Exchange by period 2011 through 2016. From the result, showed that the value of Adjusted R-Squared is about 0,2682 means that 26,82% of shareholder’s return variabel can be explained by varriations of the four independent variabels, while the remaining 73,18% is influenced by other factors which is not included in the model research. Keywords : Return On Invested Capital, Cost Of Debt, Cost Of Equity, Growth in Invested Capital, Shareholder’s Return Penelitian ini bertujuan untuk mengetahui pengaruh Return On Invested Capital, Biaya Modal Utang, Biaya Modal Saham, dan Pertumbuhan Invested Capital terhadap Return Saham. Objek penelitian ini adalah perusahaan sub sektor farmasi yang terdaftar di Bursa Efek Indonesia periode 2011 – 2016. Desain penelitian yang digunakan dalam penelitian ini adalah penelitian kausal. Sampel penelitian dipilih menggunakan metode purposive sampling. Hasil penelitian dengan menggunakan uji t-statistik ini menunjukkan bahwa variabel bebas Biaya Modal Utang dan Biaya Modal Saham berpengaruh terhadap Return Saham, sedangkan variabel Return On Invested Capital dan Pertumbuhan Invested Capital tidak berpengaruh terhadap Return Saham pada perusahaan sub sektor farmasi yang terdaftar di Bursa Efek Indonesia periode 2011 – 2016. Dari hasil uji koefisien determinasi menunjukkan nilai Adjusted R-squared sebesar 0,2682 artinya 26,82% variabel return saham dapat dijelaskan oleh variansi dari ke empat variabel bebas, sedangkan sisanya 73,18% dipengaruhi oleh faktor lain yang tidak dimasukkan ke dalam penelitian. Kata Kunci : Return On Invested Capital, Biaya Modal Utang, Biaya Modal Saham, Pertumbuhan Invested Capital, Return Saham