THE EFFECT OF FINANCIAL RATIOS (ROE, ROA, AND PER) TOWARDS STOCK PRICE OF PT. ADARO ENERGY, TBK IN THE GLOBAL FINANCIAL CRISIS (PERIOD : 2008 – 2013)

Abstract

The researcher would like to present a research regarding The Effect of Financial Ratios (ROE, ROA, and PER) Towards Stock Price of PT. Adaro Energy, Tbk in The Global Financial Crisis (Period : 2008 - 2013). Based on this research, researcher tries identifying the influence between Return on Equity (ROE), Return on Asset (ROA), and Price Earning Ratio (PER) to Stock Price. Data used in this research is secondary data was obtained from the financial statement published by the company during the period 2008-2013 through Indonesia Stock Exchange (IDX) publications and stock price reports through the website. This research used panel data which using multiregression model where those are data had been tested by using the classic assumption test, such as: normality, autocorrelation, multicollinearity, and heteroscedasticity tests. The classic assumption tests indicate that the available data have fulfill the condition to use multiregression model. Empirical evidence show as ROE, ROA, and PER together significantly affect the stock price of PT Adaro Energy, Tbk. However, in partially ROE and PER are significant toward Stock Price. while on the other hand, ROA is not significant toward Stock Price.