Pengaruh PER, ROE, EVA, ukuran perusahaan, nilai tukar dan tingkat inflasi terhadap return saham
Article Sidebar
Main Article Content
Abstract
The basic thing within the investment decision process is knowing the link between the expected return and also the risk of an investment. The existence of information of the expected return analysis may be a necessary strategy in investing. The aim of this study is to check the effect of price earning ratio (PER), return on equity (ROE), economic value added (EVA), company size, exchange rate and inflation rate on stock returns. This research was conducted on hospitality, restaurant and tourism sub-sector companies listed on the IDX for the 2017-2019 period. The full of population consists of 35 companies with samples taken as many as 11 companies using purposive sampling techniques. The analysis technique used may be a multiple rectilinear regression analysis technique. Supported the test results, it absolutely was found that PER and EVA had a positive and significant effect on stock returns. ROE, company size and rate of inflation have a negative and insignificant effect on stock returns. The exchange rate has a positive and insignificant effect on stock returns. The results of this study provide guidelines for creating investment decisions associated with the amount of return within the kind of stock returns and might be a reference for other parties who want to conduct further research and similar research within the future.
Article Details
References
Allozi, N. M., & Obeidat, G. S. (2016). The relationship between the stock return and financial indicators (profitability, leverage): an empirical study on manufacturing companies listed in amman stock exchange. Journal of Social Sciences (COES&RJ-JSS), 5(3), 408–424. https://doi.org/10.25255/jss.2016.5.3.408.424
Amir, A., Junaidi, & Yulmardi. (2009). Metodologi penelitian (pertama). IPB Press.
Darmawan, D. (2013). Metode penelitian kuantitatif. PT Remaja Rosdakarya.
Devi, N. N. S. J. P., & Artini, L. G. S. (2019). Pengaruh Roe, Der, Per, dan nilai tukar terhadap return saham. E-Jurnal Manajemen Universitas Udayana, 8(7), 4183. https://doi.org/10.24843/ejmunud.2019.v08.i07.p07
Dewi, N. L. P. S. U., & Sudiartha, I. G. M. (2018). Pengaruh profitabilitas, likuiditas, leverage, dan ukuran perusahaan terhadap return saham pada perusahaan food and beverage. E-Jurnal Manajemen Universitas Udayana, 8(2), 932. https://doi.org/10.24843/ejmunud.2019.v08.i02.p13
Ginting, M. R. M., Topowijono, & Sulasmiyati, S. (2016). Pengaruh tingkat suku bunga, nilai tukar dan inflasi terhadap return saham ( studi pada sub-sektor perbankan di bursa efek indonesia periode 2011-2015 ). Jurnal Adminisrasi Bisnis, 35(2), 77–85. https://media.neliti.com/media/publications/87012-ID-pengaruh-tingkat-suku-bunga-nilai-tukar.pdf
Hafni, L., Sarisa, & Safari, S. (2019). Analysis of influence of current ratio (cr), debt to equity ratio (der), return on equity(roe), and earning per share (eps) on stockreturn lq45 listed on indonesian stock exchange period 2012-2016. Bilancia, Jurnal Ilmiah Akuntansi, 3(3), 324–334.
Haryani, S., & Priantinah, D. (2018). Pengaruh inflasi, nilai tukar rupiah/dolar as, tingkat suku bunga bi, der, roa, cr dan npm terhadap return saham. Nominal, Barometer Riset Akuntansi Dan Manajemen, 7(2). https://doi.org/10.21831/nominal.v7i2.21353
Hasyim, A. I. (2017). Ekonomi makro (pertama). Kencana.
Hidajat, N. C. (2018). Pengaruh return on equity, earnings per share, economic value added, dan market value added terhadap return saham perusahaan sektor pertanian yang terdaftar di bursa efek indonesia periode 2010-2016. Jurnal Ekonomi 23(1). https://doi.org/10.24912/je.v23i1.334
Hidayat, L. R., Setyadi, D., & Azis, M. (2017). Pengaruh inflasi dan suku bunga dan nilai tukar rupiah serta jumlah uang beredar terhadap return saham. Jurnal Ekonomi Manajemen Dan Akuntansi, 19(2), 148–154.
Jitmaneeroj, B. (2017). The impact of dividend policy on price-earnings ratio: The role of conditional and nonlinear relationship. Review of Accounting and Finance, 16(1), 125–140. https://doi.org/10.1108/RAF-06-2015-0092
Kusmiati, & Mu’minatus. (2018). Ekonomi makro, profitabilitas dan ukuran perusahaan terhadap return saham pada perusahaan sektor perbankan. JIATAX (Journal of Islamic Accounting and Tax), 1(2), 89. https://doi.org/10.30587/jiatax.v1i2.527
Marsintauli, F. (2019). Analisis pengaruh roe, ukuran perusahaan, tingkat inflasi dan tingkat kurs terhadap return saham. Business Economic, Communication, and Social Sciences (BECOSS) Journal, 1(1), 99–107. https://doi.org/10.21512/becossjournal.v1i1.5981
Meric, E. M. K. F. T. (2017). Interaction among stock price and financial ratio: the case of turkish banking sector. Red Fame Journal Applied Economic and Finance, Vol. 4 (6), 107-115.
Montoliang, F. C., & Tjun Tjun, L.-. (2018). Pengaruh free cash flow dan economic value added terhadap return saham(studi pada saham perusahaan yang tercatat aktif dalam lq 45di bei periode 2015-2017). Jurnal Akuntansi Maranatha, 10(2), 231–240. https://doi.org/10.28932/jam.v10i2.1088
O’Byrne, S. F., & Co., S. S. &. (1996). Journal of applied corporate finance. Morgan Stanley Oleh Blackwell Publishing, 9.1, 116–125.
Rahayu, E. P., & Utiyati, S. (2017). Pengaruh EPS, RI, EVA, MVA, PER terhadap return saham pada perusahaan manufaktur. Jurnal Ilmu Dan Riset Manajemen, 6(1), 1–22.
Rifky, A. (2020). Pengaruh tingkat suku bunga, nilai tukar dan inflasi terhadap harga saham. Jurnal IKRA-ITH Ekonomika Vol 3 No 3 Bulan November 2020, 3(No 3), 102–112.
Sinaga, A. N., Eric, Rudy, & Wiltan, V. (2020). Current ratio, debt to equity ratio, return on equity, dividend payout ratio dan size terhadap return saham perusahaan trade, service & investment Indonesia. Journal of Economic, Bussines and Accounting (COSTING), 3(2), 311–318. https://doi.org/10.31539/costing.v3i2.1043
Sugiharti, & Wardati, E. (2019). Analisis pengaruh inflasi, suku bunga, dan nilai tukar rupiah terhadap return saham pada perusahaan manufaktur di Bursa Efek Indonesia. Education and Economics, 02(03), 1–6.
Sugiono, A., & Untung, E. (2008). Panduan praktis dasar analisa laporan keuangan. PT Grasindo.
Supriantikasari, N., & Utami, E. S. (2019). Pengaruh return on assets, debt to equity ratio, current ratio, earning per share dan nilai tukar 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, 5(1), 49. https://doi.org/10.26486/jramb.v5i1.814
Tamrin, M., & Maddatung, B. (2019). Penerapan konsep good corporate governance dalam industri manufaktur di indonesia (cetakan pe). PT Penerbit IPB Press.
Tandelilin, E. (2017). PASAR MODAL Manajemen portfolio & investasi (edisi elek). Divisi Digital PT Kanisius.
Th.A.Y.I, Y. O., & Subagio. (2019). Analisis pengaruh Economic Value Added (EVA), Market Value Added (MVA), Price To Book Value (PBV), Earning Per Share (EPS), Price Earning Ratio (PER), Dan Profitabilitas terhadap Return Saham LQ 45 yang terdaftar di Bursa Efek Indonesia (BEI) Tahun 2010–2. Bilancia: Jurnal Ilmiah Akuntansi, 3(4), 430–440.
Zulfikar. (2016). Pengantar pasar modal dengan pendekatan statistika. Deepublish.