PENGARUH POTENSI FINANCIAL DISTRESS, INFLASI, SUKU BUNGA TERHADAP HARGA SAHAM PADA SEKTOR MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2018-2022

Abstrak

ABSTRAK
Penelitian ini bertujuan guna menganalisis pengaruh potensi financial distres, Inflasi, Suku bunga terhadap harga saham perusahaan sektor manufaktur yang terdaftar di Bursa Efek Indonesia periode 2018-2022. Jenis penelitian yang digunakan yaitu kuantitatif dengan pendekatan deskriptif dan verifikatif. Metode penarikan sampel yang digunakan adalah metode purposive sampling,dengan metode analisis data yang digunakan adalah model Altman Z-Score, penentuan model estimasi data panel, Uji T, Uji F dan Koefesien determinasi. Hasil penelitian dengan model Altman Z-Score menunjukan terdapat 10 perusahaan dari 14 perusahaan sektor manufaktur periode 2018-2022 yang mengalami financial distress, 1 perusahaan berada pada kondisi grey Area, dan terdapat 3 perusahaan yang berada pada kondisi sehat (non financial distress). Sementara hasil penelitian secara parsial menunjukan hasil variabel inflasi dan suku bunga tidak berpengaruh terhadap harga saham, variabel financial distress berpengaruh signifikan terhadap harga saham. Hasil penelitian secara simultan menunjukan hasil bahwa variabel independen (inflasi,financial distress,suku bunga) berpengaruh signifikan terhadap variabel dependen (Harga saham) dengan nilai 0.000085 < 0.05. Nilai Adjusted-Square dalam penelitian sebesar 0.275831, hal ini berarti variabel inflasi,financial distress,suku bunga dan Altman Z-Score memberikan kontribusi pengaruh sebesar 27.5% terhadap harga saham dan sisanya sebesar 72.5% dipengaruhi oleh variabel lain di luar model penelitian.

ABSTRACT
This study aims to analyze the effect of potential financial distress, inflation, interest rates on the stock prices of manufacturing sector companies listed on the Indonesia Stock Exchange for the 2018-2022 period. The type of research used is quantitative with a descriptive and verification approach. The sampling method used is purposive sampling method, with the data analysis method used is the Altman Z-Score model, determining the panel data estimation model, T test, F test and the coefficient of determination.The results of the research using the Altman Z-Score model show that there are 10 companies out of 14 manufacturing sector companies in the 2018-2022 period that are experiencing financial distress, 1 company is in a Gray Area condition, and there are 3 companies that are in a healthy condition (non-financial distress). While the partial results of the study show that the inflation and interest rate variables have no effect on stock prices, the financial distress variable has a significant effect on stock prices. The results of the study simultaneously show that the independent variables (inflation, financial distress, interest rates) have a significant effect on the dependent variable (stock price) with a value of 0.000085 <0.05. The Adjusted-Square value in the study was 0.275831, this means that the inflation, financial distress, interest rates and Altman Z-Score variables contributed 27.5% to stock prices and the remaining 72.5% was influenced by other variables outside the research model.