ANALISIS PENGARUH DEBT TO EQUITY RATIO,NET PROFIT MARGIN DAN TOTAL ASSET TURNOVER TERHADAP PRICE EARNING RATIO DENGAN RETURN ON EQUITYSEBAGAI VARIABEL INTERVENING (Studi pada Perusahaan Manufaktur Otomotif dan Komponen yang Listed di BEI Periode Tahun 2006–2012)

Abstract

This study tries to answer some question on factors influence price earning ratio of firm in Indonesia stock exchange. This reaserch in specific aims to test the effect of debt to equity ratio, net profit margin and total asset turnover to price earning ratio with return on equity as an intervening variable. Population of study is all firm listed on Indonesia stock exchange during 2006-2012. By using purposive sampling, the written got 46 firm manufacture automotive and allied products to be the sample research. This study used regression analysis and sobel test, in previously the data examined using classical assumption test. The results of this study for the first regression path analystmodel showed that the variables debt to equity ratio, net profit margin and total asset turnover affect return on equity. For the second regression path analystmodel showed that the variables debt to equity ratio, net profit margin, total asset turnover and return on equity affect price earning ratio. Of this study also showed showed that the return on equity has no mediating effect on the relationship between debt to the equity ratio to the price earning ratio,return on equity has mediating effect on the relationship between net profit margin to the price earning ratio and return on equity has no mediating effect on the relationship between total asset turnover to the price earning ratio.