The Mediating Effect of EPS on the Relationship between ROE and Stock Prices of 15 Banks Listed on Indonesia Stock Exchange

  • Francis Hutabarat Universitas Advent Indonesia
  • Mega Sari Universitas Advent Indonesia
Keywords: Stock Price, Return on Equity, Earning per Share

Abstract

This research is descriptive which collects and presents data from financial statements from 2014 - 2018 by taking ROE and EPS data as independent variables and stock prices as the dependent variable. Measurement scales used statistical scales such as regression analysis test, f test, and t-test. The results showed that 15 bank sector companies as a place of this research had good management performance and performed their functions well, it can be seen from the ratio of ROE and EPS. From the test results based on the regression analysis test, f test, and t-test, the results are obtained that the contribution of ROE to changes in the Stock price is 25.8%, with EPS mediation, the contribution of ROE and EPS to changes in the Stock price is found to be 47.2% and the change in the value of R-Square change of 0.219 or 21.9%. Significant test results indicate a significant effect between ROE on Stock prices. This can be seen from the F-test value of 26,668 and significant value of 0,000 at α = 0.05 or 5% and with the presence of EPS mediation, the effect of ROE and EPS on the stock price is significant with a significant level of 0,000 at α = 0.05 or 5% with F -The existence of EPS mediation, it was found that ROE and Stock’s Prices have a significant effect of 0.019 at a significant level of 5%. Thus any change in ROE will change to an increase in Stock Price by 0.236 significantly.Therefore, because ROE and the Stock price have significant value, EPS does not fully mediate the effect of ROE and the stock pricetest 34,129.

References

Edison, A., Winarso, E., Edisan, T., & Nuryani, N. (2019). Pengaruh Return On Asset, Net Profit Margin, Dan Earning Per Share Terhadap Harga Saham Pada Bank Indonesia. Journal Ilmiah Bisnis, Pasar Modal Dan Umkm, 2(1), 150-163. Retrieved from https://ibn.e-journal.id/index.php/JIBPU/article/view/129
Azhari, D. F., Rahayu, S. M., & A, Zahro. (2016). Pengaruh ROE, DER, TATO, Dan PER Terhadap Harga Saham Perusahaan Properti Dan Real Estate Yang Go Publik Di Bursa Efek Indonesia. Journal Administrasi Bisnis, 32(2), 1-5. Retrieved from http://administrasibisnis.studentjournal.ub.ac.id/index.php/jab/article/view/1257
Darminto, R., & Yaningwati, F. (2015). Analisis Kelayakan Investasi Usaha Berdasarkan Capital Budgeting Under Risk Studi Pada Perusahaan Daerah Air Minum Kabupaten Banyuwang. Journal Administrasi Bisnis, 26(1), 1-5. Retrieved from http://administrasibisnis.studentjournal.ub.ac.id/index.php/jab/article/view/1044
Deitiana, T. (2018). Pengaruh Current Ratio, Return On Equity Dan Total Asset Turn Over Terhadap Devidend Payout Ratio Dan Implikasi Pada Harga Saham Perusahaan LQ 45. Journal Bisnis Dan Akuntansi, 15(1), 82-88. Retrieved from https://jurnaltsm.id/index.php/JBA/article/view/249
Efendi, F. M., and Ngatno, N. (2018). Pengaruh Return On Assets (ROA Terhadap Harga Saham dengan Earning PerShare (EPS) sebagai Intervening (Studi Kasus pada Perusahaan Sub SektorTekstil dan Garmen yang terdaftar di Bursa Efek Indonesia Periode 2013-2016). Jurnal Administrasi Bisnis, 7(3), 171-180. Retrieved from https://ejournal3.undip.ac.id/index.php/jiab/article/view/20970
Egam, G. E. Y., Ilat, V., & Pangerapan, S. (2017). Pengaruh ROA, ROE, NPM Dan EPS Terhadap Harga Saham Perusahaan Yang Tergabung Dalam Indeks LQ 45 Di Bursa Efek Indonesia Periode Tahum 2013-2015. Journal EMBA, 5(1), 105-114. Retrieved from https://ejournal.unsrat.ac.id/index.php/emba/article/view/15455
Halim, Abdul. (2005). Analisis Investasi. Salemba Empat, Jakarta.
Hery. (2015). Analisis Laporan Keuangan. Yogyakarta: CAPS.
Ismail, F., & Yahya. (2017). Pengaruh Current Ratio, Earning Per Share Dan Return On Asset Terhadap Harga Saham. Journal Ilmu dan Riset Manajemen, 6(10), 1-24. Retrieved from file:///C:/Users/Windows%208/Downloads/1939-Article%20Text-7169-1-10-20200128%20(1).pdf
Fionita, I. (2011). Pengaruh Tingkat Suku Bunga Bank Indonesia Dan Nilai Tukar Rupiah Terhadap Harga Saham Pada Perusahaan Pertambangan Batubara Yang Tercatat Di Bursa Efek Indonesia. Journal Manajemen dan Keuangan, 9(2), 129-152. Retrieved from https://jurnal.darmajaya.ac.id/index.php/jmk/article/view/321
Mahardika, I. N. F., and Artini, L. G. S. (2017). Pengaruh Rasio Pasar Dan Rasio Profitabilitas Terhadap Return Saham Perusahaan Di Bursa Efek Indonesia. E-Jurnal Manajemen, 6(4), 1877-1905. Retrieved from https://ojs.unud.ac.id/index.php/Manajemen/article/view/27933
Damayanti, P. R., Atmadja, A. T., & Adiputra, I. M. P. (2014). Pengaruh Deviden Per Share Dan Earning Per Share Terhadap Harga Saham Pada Perusahaan Industri Barang Konsumsi Yang Terdaftar Di Bursa Efek Indonesia Periode 2010-2012. Journal Ilmiah Mahasiswa Akuntansi UNDIKSHA, 2(1). Retrieved from https://ejournal.undiksha.ac.id/index.php/S1ak/article/view/2406
Ratih, D., Apriatni, E.P., & Saryadi. S. (2014). Pengaruh EPS, PER, DER, ROE Terhadap Harga Saham Pada Perusahaan Sektor Pertambangan yang Terdaftar di Bursa Efek indonesia (BEI) Tahun 2010-2012. Journal Ilmu Administrasi Bisnis, 3(1), 1-12. Retrieved from https://ejournal3.undip.ac.id/index.php/jiab/article/view/4377
Siregar, Q. R., & Salman, F. (2018). Pengaruh Return On Asset Dan Earning Per Share Terhadap Harga Saham. Jurnal Universitas Muhammadiyah Sumatera Utara. Journal Ilmiah Magister Manajemen, 1(1), 81-89. Retrieved from http://jurnal.umsu.ac.id/index.php/MANEGGIO/article/view/2342
Sugiyono. (2015). Cara mudah menyusun : Skripsi, Tesis, dan Disertasi. Yogyakarta: ALFABETA, cv
Tantra, I. K. R., & Dewi, S. K. S. (2015). Peran Eps Dalam Memediasi Pengaruh Roe Terhadap Harga Saham Perusahaan Perbankan Di Bei. E-Jurnal Manajemen, 4(12), 4245-4273. Retrieved from https://ojs.unud.ac.id/index.php/Manajemen/index
Tyas, R. A., & Saputra, R. S. (2016). Analisis Pengaruh Profitabilitas Terhadap Harga Saham Yang Terdaftar Di Bursa Efek Indonesia (BEI) Periode 2012-2014. Journal Online Insan Akuntan, 1(1), 77-91. Retrieved from http://www.ejournal-binainsani.ac.id/index.php/JOIA/article/view/5
Utami, M., & Darmawan, A. (2018). Pengaruh Der, Roa, Roe, Eps Dan Mva Terhadap Harga Saham Pada Indeks Saham Syariah Indonesia. Journal Of Applied Managerial Accounting, 2(2), 206-218. Retrieved from https://jurnal.polibatam.ac.id/index.php/JAMA/article/view/910
Published
2020-09-30