Pengaruh Fundamental Saham, Tingkat Efektifitas Manajemen Terhadap Harga Saham dan Perataan Laba

Abstract

Associated with investments made the main purpose of investors are generally
focused on profits or income so often found many managers intentionally reduce fluctuations
in reported earnings in order to achieve the desired level of profit. For the company perform
income smoothing, which is one form of earnings management. As well as earnings
management, the concept of income smoothing found by agency theory, which assumed the
principal (owner) and agent (management) have the same interests to maximize the utility of
each of the information held, giving rise to a conflict of interest that is the asymmetry of
information , The research data from the Indonesia Stock Exchange service industry subsectors
property and real estate. Hypothesis testing results show that the PER positive and
significant effect on stock prices, the level of PBV significant effect on stock prices, NPM has
a negative impact and no significant effect on the company's financial performance, ROI
positive and significant impact on stock prices, PER not significant effect on the index excel,
PBV not significant effect on the index excel, NPM no significant effect on the index excel,
ROI significant positive effect on excel index, stock price index significant positive effect on
excel.

Keyword: PER, PBV, NPM, ROI, same price, income smoothing