Hubungan Kinerja Keuangan dengan Harga Sahani pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2007-2009 dengan Pendekatan Altman Z Score
This empirical study intended to determine the relationshipÂ between financial performance with stock prices at the manufacturingÂ company listed on the Indonesia Stock Exchange-year period 2007-2009 with the approach Altman Z Score.
The population in this study are all listed manufac uringcompanies (listing) in Indonesia Stock Exchange during the yearsÂ 2007 to 2009 (446 samples). The data was drawn from the IndonesiaÂ Stock Exchange ("Pojok BEI UII") and the book Indonesia CapitalÂ Market Directoiy (ICMD). This research includes two variables:Â financial performance and stock prices. Chi square test was used to
analyze the relationship between Z scores with stock prices. TheÂ result of chi square analysis indicated that there was a significantÂ relationship between financial perfotmance in the stock priceÂ approaches Altman method (Z score value). It could be concludedÂ that the higher a company's financial performance, the HigherÂ business profits and the more benefits that can be enjoyed by the
shareholders as well as themore likely thestock price increases. ViceÂ versa if the lower a company's financial performance, the lowerÂ income and less profit business that can be enjoyed by theÂ shareholders and also the less likely the company's stock priceÂ increases.
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Jurnal Aplikasi Bisnis [JABIS]
Diploma Program in Economics, Faculty of Economics
Universitas Islam Indonesia, Yogyakarta, Indonesia.
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