Financial disstress dan faktor makroekonomi serta pengaruhnya terhadap harga saham pada perusahaan pertambangan subsektor batubara yang terdaftar di bursa efek indonesia tahun 2013-2017

Mulyanti, Siti Yanti (2019) Financial disstress dan faktor makroekonomi serta pengaruhnya terhadap harga saham pada perusahaan pertambangan subsektor batubara yang terdaftar di bursa efek indonesia tahun 2013-2017. Masters thesis, Institut Pertanian Bogor.

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Abstract

The fast growth of technology and global economy has insisted the business industry to keep up with its development. Any changes in the companies’ performances would be reflected from their ability to accommodate and adapt to every change. For public companies, its performances would be reflected through their stock prices that have been registered in the stock exchange. During 2013-2017, the mining sector has experienced one of the sharpest declines in stock price performance compared to other sectors, with an average decline of 23%. The downturn global economy and commodity prices that have not grown until 2017 are suspected to several reasons behind the decline of stock price performance in global market. A decline in financial performance could initially indicate that companies in the mining industry is experiencing financial distress. There are many factors influencing the stock price. The purpose of this study was to analyze the effect of financial distress, financial characteristics and macroeconomic on stock prices of coal company as listed on Indonesia Stock Exchange (IDX) during the period of 2013-2017. This paper uses panel data regression with fixed effect model. Eleven coal companies were selected as samples. The finding of the research showed that Z-score, financial characteristic, such as ROA and CFO which have positive and significant effect on stock prices, while macroeconomic such as interest rate, exchange rate and inflation have negative and significant effect on stock prices. A company’s management had done numerous efforts in order to focus and strive to maintain their financial performance. When investor is planning to invest in a company, they would analyze the company’s financial characteristics, financial distress, and macroeconomic factors as basic elements that needs to be considered. The government plays a crucial role in improving the national’s economic growth to formulate and generate policies that could offer some assurance and sustainability of the company that could have an impact on increasing financial performance and stock prices. This could encourage more investment to come into the country.

Item Type: Thesis (Masters)
Uncontrolled Keywords: faktor makroekonomi, financial distress, harga saham dan Z-Score, ROE, Return on Assets, Cash from Operation, CFO, Earning per Share, EPS, macroeconomic, financial distress, stock prices, Z-Score.
Subjects: Manajemen Keuangan
Depositing User: SB-IPB Library
Date Deposited: 23 Dec 2019 04:00
Last Modified: 23 Dec 2019 04:00
URI: http://repository.sb.ipb.ac.id/id/eprint/3501

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