ANALISIS IMBAL HASIL DAN RISIKO SAHAM-SAHAM LQ45 TERHADAP KINERJA PASAR

Oleh:

Titi Hayati

Dosen STIE Dewantara

Abstract

Investors make investments by buying stocks listed and traded on the Indonesia Stock Exchange. Investments made to the stocks that have good financial performance in which the shares are incorporated in the LQ45 index. The shares traded LQ45 have varying prices resulting in value returns and risks are different every stock. This will cause a reaction to the performance of the market as seen from the movement of Composite Stock Price Index (CSPI).

The purpose of this study was to analyze how much influence (all) the performance of stocks belonging to the group LQ45 simultaneously on the performance of the market (JCI); to know how much influence the performance of shares of group members LQ45 partially on the performance of the market (CSPI) ; and to find out how the risk profiles and risk profile LQ45 JCI (the influence of risk and return against JCI), in this case proved that a significant share of 45 by 24 shares, while insignificant by 21 shares.

The results of this study indicate that during the six-month period August 2010 to January 2011 showed that the effect is significant LQ45 of JCI. Of the 45 stocks that incorporated the effect on stock index is 24 while 21 shares significant that no significant stocks of JCI. Things that affect the 21 stocks that are not significant can be seen from external and internal factors. External factors can be seen from what happened to the market one of them in 2008 to the crisis that hit the world so that the resulting market price will fall so that the resulting internal factors had affected one of the materials used for production increased sharply, resulting in revenues with expenditures not balanced. Judging from the stock indicates that the risk profile of the 24 stocks that have significant levels of risk to JCI is as high as occurs in some stock one share Benakat Petroum Energy Tbk. (Bipi) and shares significant LQ45 also has a level of risk against return of this happens at stake in Bank Central Asia Tbk (BBCA), which has a level of risk against return is very high.
Keywords: Yields, Risk, Market Performance