ANALYSIS OF THE EFFECT OF FINANCIAL PERFORMANCE AND MACRO ECONOMIC FACTORS ON THE RETURN OF FOOD & BEVERAGE STOCK COMPANIES IN INDONESIA STOCK EXCHANGE FOR THE PERIOD 2015-2019
DOI:
https://doi.org/10.31933/dijemss.v2i4.809Keywords:
Current Ratio (CR), Total Asset Turn Over (TATO), Debt to Equity Ratio (DER), Return on Equity (ROE), Produk Domestik Bruto (PDB) and stock returnAbstract
The purpose of this study is to analyze financial performance through Current Ratio (CR), Total Asset Turn Over (TATO), Debt to Equity Ratio (DER), Return on Equity (ROE) and macroeconomic factors through Gross Domestic Product (GDP) to stock returns. The object of research is a food and beverage company on the Indonesia Stock Exchange for the period 2015-2019. The analysis data used are financial reports, stock returns and GDP growth. The research sample of 15 companies obtained by purposive sampling technique. The data analysis technique used is Panel Data Regression Analysis with eviews version 9. The results show that Current Ratio (CR) and Debt to Equity Ratio (DER) have a significant positive effect on stock returns, while Total Asset Turn Over (TATO), Return on Equity (ROE) and Gross Domestic Product (GDP) have no significant effect on stock returns.
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[2]. Asmi, T. L. (2014). Currenr Ratio, Debt to Equity Ratio, Total Asset Turnover, Return on Asset, Price to Book Value Sebagai Faktor Penentu Return Saham. Jurnal Analisis Manajemen Vol. 3, 1-12.
[3]. Bodie, Z., Kane, A., & Marcus, A. J. (2014). Manajemen Portofolio dan INvestasi Edisi 9 Buku I. Jakarta: Salemba Empat.
[4]. Harahap, S. S. (2015). Analisis Kritis atas Laporan Keuangan. Jakarta: Rajawali.
[5]. Idowu, J., Olokoyo, F. O., Idowu, A., Akinrin, S., & Osifo, S. (2018). Bank’s Financial Performance and Stock Returns in Nigeria. International Journal of Research in Business, Economics and Management Vol. 2, 62-69.
[6]. Jogiyanto. (2003). Teori Portofolio dan Analisis Investasi Edisi ke Tiga. Yogyakarta: BPFE.
[7]. Myers, S. C. (1984). The Capital Structure Puzzle. Journal of Finance Vol. 39, No 3, 575-592.
[8]. Obala, F., & Olweny. (2018). Financial Performance and Stock Returns Among Listed Banks in Kenya. International Journal of Economics, Commmerce and Management Vol 6, No. 5, 292-300.
[9]. Ross, S. A. (1976). The Arbitrage Theory of Capital Asset Pricing. Journal of Economic Theory Vol. 14, 341-360.
[10]. Samalam, F. N. A., Mangantar, M., & Saerang, I. S. (2018.) The Effect of Return On Asset, Return On Equity dan Debt to Equity Ratio Terhadap Return Saham pada Perusahaan Asuransi di Bursa Efek Indonesia Periode 2012-2016. Jurnal Riset Ekonomi, Manajemen, Bisnis dan Akuntansi Vol. 6 No. 4, 3863-3872.
[11]. Sharif, S. H. (2019). The Impact of Capital Structure on Stock Return of Selected Firms in the Pharmaceutical and Chemical Sector in Bangladesh, International Journal of School Sciences Perspectives Vol. 5 No. 1, 9-21.
[12]. Sihombing, P. (2018). Corporate Financial Management. Bogor: PT. IPB Pres.
[13]. Spence, M. (1973). Job Market Signaling. The Quartely Jounral of Economics Vol. 87, No. 3, 355-374.
[14]. Sugiarti., Surachman., & Aisjah, S. (2015). Pengaruh Kinerja Keuangan Perusahaan terhadap Return Saham (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia). Jurnal Aplikasi Manajemen Vol. 13, No. 2, 282-298.
[15]. Supriantikasari, N., & Utami, E. S. (2019). Pengaruh Return On Asset, Debt Equity Ratio, Current Ratio, Earning Per Share dan Nilai Tikar terhadap Return Saham (Studi Kasus Pada Perusahaan Go Public Sektor Barang Konsumsi Yang Listing di Bursa Efek Indonesia Periode 2015-2017). Jurnal Riset Akuntansi Mercu Buana Vol. 5, No. 1, 49-66.
[16]. Tandelilin, E. (2010). Portofolio dan Investasi: Teori dan Aplikasi Edisi Pertama. Yogyakarta: Kanisius.
[17]. Tarau, M. F., Rasjid, H., & Dungga, M. F. (2020). Analisis Pengaruh Kinerja Keuangan Terhadap Return Saham Pada Perusahaan Sektor Industri Makanan dan Minuman di Bursa Efek Indonesia Periode 2014-2018. Jurnal Ilmiah Manajemen dan Bisnis Vol. 3, No. 1, 29-44.
[18]. Utami, W. R., Hartoyo, S., & Maulana, T. N. A. (2015). The Effect of Internal and External Factors on Stock Return: Empirical Evidence from the Indonesian Construction Subsector. Asian Journal of Business and Management Vol. 3, No. 5, 370-377.
[19]. Wijaya, E., & Nursanti, T. D. (2014). Pengaruh Faktor Internal dan Eksternal Terhadap Return Saham Makanan dan Minuman di Bursa Efek Indonesia Periode 2008-2001. Jurnal Ilmu Manajemen dan Ekonomi Vol. 7 No. 2, 100-114.
[20]. Wiradharma, M. S., & Sudjarni, L. K. (2016). Pengaruh Tingkat Suku Bunga, Tingkat Inflasi, Nilai Kurs Rupiah dan Produk Domestik Bruto Terhadap Return Saham. E-jurnal Manajemen Umud Vol. 5, No. 6, 3392-3240.
[21]. Yuliaratih, K. A. S., & Artini, Luh. G. S. 2018. Variabel - Variabel yang Mempengaruhi Return Saham pada Perusahan Property dan Real Estate di Bursa Efek Indonesia. E-Jurnal Ekonomi dan Bisnis Universitas Udayana Vol. 7 No.5, 1495-1528.
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Published
2021-04-18
How to Cite
Syukrina Tascha, D. ., & H. Mustafa, M. . (2021). ANALYSIS OF THE EFFECT OF FINANCIAL PERFORMANCE AND MACRO ECONOMIC FACTORS ON THE RETURN OF FOOD & BEVERAGE STOCK COMPANIES IN INDONESIA STOCK EXCHANGE FOR THE PERIOD 2015-2019. Dinasti International Journal of Education Management And Social Science, 2(4), 587–595. https://doi.org/10.31933/dijemss.v2i4.809
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