PENGARUH PROFITABILITAS, NILAI PASAR, LIKUIDITAS, DAN FINANCIAL LEVERAGE TERHADAP DEVIASI ACTUAL GROWTH RATE DARI SUSTAINABLE GROWTH RATE

ABSTRACT Aryadi Yanuar Putra, 2015: The Influence of Profitability, Market Value, Liquidity and Financial Leverage on Deviation of Actual Growth Rate of Sustainable Growth Rate. Universitas Negeri Jakarta. This research aims to analyze the influence of profitability, market value, liquidity and financial leverage on Deviation of Actual Growth Rate of Sustainable Growth Rate. Deviation of Actual Growth Rate of Sustainable Growth Rate (DAS) is the dependent variable in this research were measured by Actual Growth Rate (AGR) minus Sustainable Growth Rate (SGR). Meanwhile for the independent variables using profitability were measured by return on asset (ROA), market value were measured by price to book value (PBV), liquidity were measured by current ratio (CR), and financial leverage were measured by debt to equity ratio (DER). Secondary data used in this reasearch with a population of property and real estate companies listed on the Stock Exchange in 2011-2013. While the sampling method used was purposive sampling method which is overall 26 samples choose. This research uses multiple regression method to test the hypothesis with SPSS computer program. Statistical analysis showed profitability has a significance value below 0.05 and has a negative regression coefficient. Market value has significance value above 0.05 and has a negative regression coefficient. Then liquidity and financial leverage has a significance value above 0.05 and has a positive regression coefficient. The result of this research can be concluded that the profitability has negatively and significant influence on Deviation of Actual Growth Rate of Sustainable Growth Rate of the company. Meanwhile market value, liquidity and financial leverage has no significant influence on Deviation of Actual Growth Rate of Sustainable Growth Rate of the company. Keywords: Profitability, Market Value, Liquidity, Financial Leverage, Actual Growth Rate, and Sustainable Growth Rate