PENGARUH KEBIJAKAN HUTANG TERHADAP TINGKAT PENGEMBALIAN SAHAM PADA PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI)

Abstract

ABSTRACT
This research aims to investigate the simultaneous and partial influences
Debt to Equity Ratio (X1) and Debt to Asset Ratio (X2) on the banking companies
listed in Indonesia Stock Exchange period 2011 to 2015.
The data obtained from the study ICMD, IDX, Stocks Ok, Yahoo Finance
and Financial Statements. Total population in this study were as many as 41
companies and sample results obtained 8 companies that meet the criteria. The
research sample was determined by purposive sampling of banking companies
listed in Indonesia Stock Exchange during the period from 2011 to 2015 were
issued rate of return (return) respectively which tended to decline each year. Data
analysis techniques in this research using multiple linear regression analysis.
Based on the results of multiple regression analysis of the conclusions
that can be drawn from this study is the result of simultaneous test (F test)
concluded that simultaneous Debt to Equity Ratio (X1) and the Debt to Asset
Ratio (X2) no significant effect on stock returns since F count < F table, so the
first hypothesis stating Debt to Equity Ratio (X1) and the Debt to Asset Ratio (X2)
simultaneously there is an effect not proven true. The result of partial test (t test)
concluded that partial Debt to Equity Ratio (X1) obtained t table > t count and
the Debt to Asset Ratio (X2) obtained t table > t count, it can be concluded that
there is partial effect with stock returns so that the second hypothesis which states
that the Debt to Equity Ratio (X1) and the Debt to Asset Ratio (X2) is partially
affected by stock returns are also unsubstantiated .
Keywords : Debt to Equity Ratio , Debt to Asset Ratio and Stock Return