hendri, Muhammad (2005) Analisis struktur modal dan faktor fundamental perusahaan agribisnis kelompok indeks saham lq-45 di bursa efek jakarta. Masters thesis, Institut Pertanian Bogor.
The Analysis of Capital Structure and Fundamental Factors in Agribusiness Enterprises of the LQ - 45 Stock Index at The Jakarta Stock Exchange Muhammad Hendri The aims of this study are analyzing the capital stucture, the correlation between the capital structure and return of capital, and the influence of capital structure and the fundamental factors toward stocks prises of the listed componies. Research design is descriptive method using purposive sampling technique in selecting the respondent belong to: 1) agribusiness enterprises at the Jakarta Stock Exchange (JSX), 2) LQ - 45 stock index in the 1998 - 2003 periode. The analysis focuses on the capital structure and fundamental ratio in the enterprises. The capital structure focuses on cost of debt and cost of equity. The cost of debt was calculated by finding the beta index value in the stock by CAPM approach. Each enterprise was analyzed in WACC to see the lowest cost of capital. The correlation between thw WACC was analyzed by the enterprise's fundamental ratio and stock price. The result of this study were: 1) each enterprise's implemented different strategies in capital structure and there was no positive correlation between the optimum capital structure and capital return rate and profit, 2) the fundamental factors (WACC,DER,NPM and EPS) altogether influence significantly towards the stock price.
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