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PERAN RISIKO SISTEMATIS DALAM MENENTUKAN HUBUNGAN ANTARA FAKTOR FUNDAMENTAL MAKROEKONOMI DENGAN KINERJA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA JAKARTA

Sudiyatno, Bambang and Indarti, MG. Kentris and Puspitasari, Elen (2010) PERAN RISIKO SISTEMATIS DALAM MENENTUKAN HUBUNGAN ANTARA FAKTOR FUNDAMENTAL MAKROEKONOMI DENGAN KINERJA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA JAKARTA. LAPORAN PENELITIAN.

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Abstract

The purpose of this research is to analysis influence of macroeconomic factors, as inflation, interest rate, exchange rate, economic growth; and systematic risk toward financial performance for 2004 to 2006. This research uses secondary data, with the source of data from BPS and Indonesian Capital Market Directory publication. The sampling technical used purposive sampling, and total sample is 116 firm with the 348 observation sample. The analysis with regression ordinary least square – OLS. Result the test that inflation and exchange rate are significant negative influence the systematic risk, but interest rate and economic growth are significant positive toward to systematic risk. Interest rate significant positive toward financial performance, and systematic risk is significant negative toward financial performance. Exchange rate significant negative at level less than 10% toward financial performance. In this research is only interest rate toward systematic risk, and than exchange rate & systematic risk toward financial performance support economic theory. The R-square is 0,031 so the five independent variable is have a weak ability to predict financial performance. The other result that systematic risk is a intervening variable, they are mediation macroeconomic fundamental factor with firm performance. Key words: Macroeconomic factors, systematic risk, and intervening variable.

Item Type: Article
Subjects: A General Works > AC Collections. Series. Collected works
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Faculty / Institution: Fakultas Ekonomika dan Bisnis
Depositing User: Fakultas Ekonomi
Date Deposited: 21 Nov 2013 04:40
Last Modified: 21 Nov 2013 04:40
URI: http://eprints.unisbank.ac.id/id/eprint/1899

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