PENGARUH SUMBER PEMBIAYAAN DARI UTANG, LIKUIDITAS, PERTUMBUHAN ASET, PROFITABILITAS, RASIO PEMBAYARAN DEVIDEN TERHADAP BETA SAHAM

Abstract

There is some risk and return that arise and need to be considered by investors
when investing in the stock market. Two types of risk is known as systematic risk
known as beta as a measure of the systematic risk and unsystematic risk. Based on
previous research, it was found that financial variables including sources of debt
financing, liquidity, asset growth, profitability and dividend payout ratio results
are inconsistent as a predictor of beta stocks. Therefore, the motivation in this
study to examine the financial variables as predictors of beta stocks in the
banking industry in Indonesia Stock Exchange. The purpose of this study was to
determine the effect of the financial variables in beta stocks. Based on the
purposive sampling obtained 9 banks as samples in this study. In solving the
problem the researchers used a classical assumption and hypothesis testing with
multiple regression analysis. Based on the results of the study, it was found that
the sources of financing of the debt does not affect beta stocks because there is no
guarantee safety of customer funds in the bank by LPS. Liquidity significant
negative effect on beta stocks because of the high level of bank prudence in
managing customers' credit. Asset growth did not affect beta stocks because the
banks are in a period of expansion. Profitability significant positive effect on beta
stocks because the higher the profits of credit means higher risk of bad debts will
appear. Dividend payout ratio has no effect on beta stocks because of the few
banks that research has consistently paid dividends during the period.

Keywords: beta stocks, sources of debt financing, liquidity, asset growth,
profitability and dividend payout ratio