Undervaluation, free cash flow, leverage dan keputusan pembelian kembali saham (buyback)

Farah Latifah Nurfauziah, Sri Anisa Tiara Mestika

Abstract


Pembelian kembali saham merupakan salah satu aksi korporasi yang dilakukan oleh suatu perusahaan berupa pembelian kembali saham beredar yang beredar di masyarakat. Variabel undervaluation, free cash flow dan leverage yang digunakan diperkirakan memiliki pengaruh terhadap keputusan pembelian kembali saham pada perusahaan. Penelitian ini bertujuan untuk mengetahui pengaruh Undervaluation, Free Cash Flow, dan Leverage terhadap keputusan pembelian kembali saham pada perusahaan terbuka di Bursa Efek Indonesia periode 2015-2019. Data yang digunakan dalam penelitian ini adalah laporan keuangan tahunan 20 perusahaan publik yang melakukan pembelian kembali saham pada periode 2015-2019. Penelitian ini menggunakan metode regresi logistik dengan program SPSS 20 dan Microsoft Excel 2007. Hasil penelitian menunjukkan bahwa secara parsial undervaluation tidak berpengaruh signifikan terhadap keputusan pembelian kembali saham dengan tingkat signifikansi 0,839>0,05. Arus Kas Bebas tidak berpengaruh signifikan terhadap keputusan pembelian kembali saham dengan tingkat signifikansi 0,742>0,05. Leverage berpengaruh negatif signifikan terhadap keputusan pembelian kembali saham dengan tingkat signifikansi 0,049<0,05.


Keywords


Keputusan pembelian kembali saham; undervaluation; arus kas bebas; leverage

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DOI: https://doi.org/10.30872/jfor.v24i2.10858

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