Jane, Jennie (2024) PENGARUH DARI TOTAL ASSET TURNOVER DAN DEBT TO EQUITY RATIO TERHADAP HARGA SAHAM DENGAN MEDIASI RETURN ON EQUITY (STUDI PADA PERUSAHAAN PERTAMBANGAN DI INDONESIA). Skripsi thesis, Universitas Tarumanagara.

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Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh efisiensi penggunaan aset dan solvabilitas terhadap harga saham dengan profitabilitas melalui proksi Return on Equity (ROE) sebagai variabel mediasi pada perusahaan sektor pertambangan batu bara yang terdaftar di Bursa Efek Indonesia selama periode 2020–2023. Efisiensi penggunaan aset diukur menggunakan rasio Total Asset Turnover (TATO), sementara solvabilitas diukur dengan rasio Debt-to-Equity Ratio (DER). Penelitian ini menggunakan metode kuantitatif dengan data sekunder berupa laporan keuangan dan harga saham yang diperoleh dari situs resmi Bursa Efek Indonesia dan Yahoo Finance. Analisis data dilakukan dengan model regresi panel data menggunakan software EViews 12. Sampel penelitian terdiri dari 18 perusahaan batu bara yang dipilih menggunakan teknik purposive sampling berdasarkan kriteria tertentu. Hasil penelitian menunjukkan bahwa efisiensi penggunaan aset tidak berpengaruh signifikan terhadap ROE, sedangkan solvabilitas (DER) memiliki pengaruh negatif signifikan terhadap ROE. Dalam analisis hubungan langsung, efisiensi penggunaan aset berpengaruh positif signifikan terhadap harga saham, sedangkan DER dan ROE tidak berpengaruh signifikan terhadap harga saham. Selain itu, ROE tidak mampu memediasi hubungan antara efisiensi penggunaan aset maupun solvabilitas terhadap harga saham.
Kata Kunci: Efisiensi Penggunaan Aset, Financial Solvability, Return on Equity, Harga Saham, Sektor Pertambangan Batu Bara.

This study aims to analyze the effect of asset utilization efficiency and solvability on stock prices, with profitability through the proxy of Return on Equity (ROE) as a mediating variable, in coal mining companies listed on the Indonesia Stock Exchange during the period 2020-2023. Asset utilization efficiency is measured using the Total Asset Turnover (TATO) ratio, while solvability is measured using the Debt-to-Equity Ratio (DER). This quantitative research uses secondary data in the form of financial statements and stock prices obtained from the official websites of the Indonesia Stock Exchange and Yahoo Finance. Data analysis is performed using a panel data regression model with EViews 12 software. The sample consists of 18 coal mining companies selected using purposive sampling based on specific criteria. The study's findings reveal that asset utilization efficiency, as measured by Total Asset Turnover (TATO), does not significantly impact Return on Equity (ROE). In contrast, solvability, indicated by the Debt-to-Equity Ratio (DER), has a significant negative effect on ROE. Furthermore, when examining the direct relationships, it was found that asset utilization efficiency positively and significantly affects stock prices. However, neither DER nor ROE show a significant direct impact on stock prices. Additionally, the analysis indicates that ROE does not mediate the relationship between asset utilization efficiency or solvability and stock prices.
Keywords: Asset Utilization Efficiency, Financial Solvability, Return on Equity, Stock Prices, Coal Mining Sector

Item Type: Thesis (Skripsi)
Subjects: Skripsi/Tugas Akhir
Skripsi/Tugas Akhir > Fakultas Ekonomi
Divisions: Fakultas Ekonomi > Manajemen
Depositing User: FE Perpus
Date Deposited: 26 Jun 2025 02:07
Last Modified: 26 Jun 2025 02:07
URI: https://repotest.untar.ac.id/id/eprint/47365

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