ABSTRAK
RAHMI KURNIA NINGSIH. NIM 2019156027. Pengaruh Price Earning Ratio
(PER) dan Dividend Payout Ratio (DPR) Terhadap Return Saham pada Perusahaan
Perbankan yang Terdaftar di Bursa Efek Indonesia Periode 2018-2021. Dibawah
bimbingan Ibu Dr. Ani Siska MY, SH, MM, MSM.
Penelitian ini menganalisis pengaruh Price Earning Ratio (PER) dan Dividend Payout
Ratio (DPR) Terhadap Return Saham Perusahaan Perbankan yang Terdaftar di Bursa
Efek Indonesia Periode 2018-2021. Sampel terdiri dari 13 perusahaan perbankan yang
rutin menerbitkan laporan keuangan. Metode yang digunakan dalam penelitian ini
adalah analisis regresi data panel (pooled data) dengan bantuan aplikasi (software)
Eviews 12. Hasil penelitian menunjukkan bahwa PER memiliki pengaruh positif dan
signifikan terhadap return saham, sedangkan DPR tidak berpengaruh signifikan
terhadap return saham. Secara simultan, PER dan DPR berpengaruh signifikan
terhadap return saham dengan nilai koefisien determinasi sebesar 80,24%. Temuan ini
mengindikasikan bahwa investor cenderung mempertimbangkan PER dalam
keputusan investasi, sementara kebijakan dividen bukan merupakan faktor utama.
Berdasarkan hasil tersebut, investor disarankan untuk memperhatikan PER dalam
strategi investasinya. Meskipun DPR tidak menunjukkan pengaruh signifikan,
perusahaan tetap perlu merumuskan kebijakan dividen yang optimal. Penelitian
selanjutnya diharapkan dapat memperluas objek penelitian untuk memberikan
gambaran yang lebih komprehensif tentang pengaruh PER dan DPR terhadap return
saham di berbagai kondisi pasar.
Kata kunci: Dividend Payout Ratio (DPR), Price Earning Ratio (PER), Return
Saham.
ABSTRACT
RAHMI KURNIA NINGSIH. NIM 2019156027. The Effect of Price Earning Ratio
(PER) and Dividend Payout Ratio (DPR) on stock returns of banking companies listed
on the Indonesia Stock Exchange for the period 2018-2021. Under the guidance of
Mrs. Dr. Ani Siska MY, SH, MM, MSM.
This study analyzes the impact of Price Earning Ratio (PER) and Dividend Payout
Ratio (DPR) on stock returns of banking companies listed on the Indonesia Stock
Exchange for the period 2018-2021. The sample consists of 13 banking companies that
regularly publish financial reports. The metode used in this research is panel data
regression analysis (pooled data) with the help of Eviews 12 application (software).
The results show that PER has a positive and significant effect on stock returns, while
DPR does not have a significant impact on stock returns. Simultaneously, PER and
DPR significantly influence stock returns with a coeffi cient of determination of
80.24%. These findings indicate that investors tend to consider PER in their investment
decisions, while dividend policy is not a primary factor. Based on these results,
investors are advised to pay attention to PER in their investment strategies. Although
DPR does not show a significant effect, companies still need to formulate optimal
dividend policies. Future research is expected to broaden the scope of study to provide
a more comprehensive picture of the influence of PER and DPR on stock returns
across various market conditions.
Keywords: Dividend Payout Ratio (DPR), Price Earning Ratio (PER), Stock Returns.
