The Influence of the Fundamental and Macroeconomic Factors on Manufacturing Companies’ Stock Returns

Pratiwi, Siska Gita; Robiyanto, Robiyanto; Martono, Samuel

doi:10.23887/ijssb.v5i1.29605

Cited by 4 publications

(8 citation statements)

References 3 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Uji normalitas dilakukan untuk melihat sebaran data penelitian apakah berdistribusi normal atau tidak (Pratiwi et al, 2021).. Uji normalitas dilakukan dengan menggunakan uji Jarque-Bera.…”

Section: Hasilunclassified

“…Tabel 3 uji heteroskedatisitas bertujuan menguji apakah dalam sebuah model regresi terjadi ketidaksamaan varians dari residual suatu pengamatan ke pengamatan lain (Suryantini et al, 2018). Uji heteroskedastisitas dilakukan dengan menggunakan metode Breusch-Pagan-Godfrey dengan membandingkan nilai probabilitas Chi-Square terhadap nilai kritisnya (α=5%) (Pratiwi et al, 2021). Hasil uji heteroskedastisitas menunjukkan nilai probabilitas Chi-Square sebesar 0,053 yang lebih besar dari signifikansi 0,05, maka dapat disimpulkan bahwa model regresi pada penelitian ini bersifat homoskedastisitas dan lolos uji heteroskedastisitas.…”

Section: Sumber: Data Olahanunclassified

“…Namun disisi lain, tampaknya beberapa investor justru memandang utang sebagai hal yang wajar yang dilakukan perusahaan. Hal ini dikarenakan perusahaan yang sedang dalam masa pertumbuhan pasti akan memerlukan utang sebagai dana tambahan untuk memenuhi pendanaan operasional dalam mengembangkan usahanya karena tidak semua kebutuhan perusahaan dapat dipenuhi hanya dari modal sendiri yang dimiliki perusahaan (Pratiwi et al, 2021). Temuan ini membuktikan bahwa DER bukan merupakan salah satu aspek perhitungan dalam memengaruhi para investor dalam memperjualbelikan saham, artinya tinggi rendahnya DER tidak mempengaruhi tinggi rendahnya return saham perusahaan pada indeks LQ45.…”

Section: Pengaruh Der Terhadap Return Sahamunclassified

See 2 more Smart Citations

Pengaruh Inflasi, BI7DRR, Nilai Tukar, ROA, dan DER Terhadap Return Saham Pada Perusahaan Indeks LQ45 di Bursa Efek Indonesia Periode 2017-2021

Silalahi

2022

jmas

View full text Add to dashboard Cite

The existence of the capital market in Indonesia is one of the most important factors in the effort to participate in building the national economy. One of the most popular investments in the capital market is stocks. Stock is one of the attractive financial instrument investments because it can provide high returns but is also high risk. This study aims to analyze the effect of macroeconomics consisting of inflation, BI7DRR, exchange rates, and company fundamentals as proxied by ROA and DER ratios on company stock returns in the LQ45 stock index listed on the Indonesia Stock Exchange. The population in this study amounted to 69 companies that have joined the LQ45 stock index during the 2017-2021 period. The sampling technique used is purposive sampling by setting certain criteria. The samples obtained were 27 companies. The data analysis technique used is descriptive statistical analysis and panel data regression with the help of the Eviews version 9.0 program as a data processing tool to present statistical information. The results of the model specification test show the random effect model as the best model in estimating panel data regression. The results showed that inflation and exchange rates had a negative and significant effect on stock returns. BI7DRR has a positive and significant effect on stock returns. Meanwhile, ROA and DER have no significant effect on stock returns. Simultaneously inflation, exchange rate, BI7DRR, ROA and DER have a positive and significant effect on stock returns. This finding illustrates that LQ45 stock returns are more dominantly influenced by macroeconomic factors than company fundamentals. This can be used as consideration for investors in determining an effective investment strategy.

show abstract

“…Uji normalitas dilakukan untuk melihat sebaran data penelitian apakah berdistribusi normal atau tidak (Pratiwi et al, 2021).. Uji normalitas dilakukan dengan menggunakan uji Jarque-Bera.…”

Section: Hasilunclassified

Section: Sumber: Data Olahanunclassified

Section: Pengaruh Der Terhadap Return Sahamunclassified

See 1 more Smart Citation

Pengaruh Inflasi, BI7DRR, Nilai Tukar, ROA, dan DER Terhadap Return Saham Pada Perusahaan Indeks LQ45 di Bursa Efek Indonesia Periode 2017-2021

Silalahi

2022

jmas

View full text Add to dashboard Cite

show abstract

“…Firm value which was being researched by (Pratiwi, Robiyanto, & Martono, 2021), (Kusmayadi, Rahman, & Abdullah, 2018), (Le, Sakchutchawarn, & Martin, 2018), and (Santoso, Sidharta, & Wardini, 2020), stated that the firm value has an influence on stock returns. This mean that firm value is one of the factors that influence investors' investment decisions (Susiani, 2017).…”

Section: Introductionmentioning

confidence: 99%

GDP, firm value and systematic risk on Indonesian Kompas100 stock return

Hidayati,

Himawan Rahardika

2023

IJRBS

View full text Add to dashboard Cite

This research was conducted to determine the effect of Gross Domestic Product, company value, systematic risk on stock return of the kompas100 listed company. The population of this study were companies listed on the Kompas100 index for the 2017-2020 period, with a total sample of 53 companies based on a purposive sampling technique. This study uses panel data regression analysis with the Fixed Effect Model (FEM) regression model. Classical Assumption Test was adopted to test data validation. The results showed that Gross Domestic Product and systematic risk had a negative effect on stock returns, while firm value had no effect on stock returns, with a coefficient of determination of 74 percent. The findings in this study explain that Gross Domestic Product and Systematic Risk had a negative effect on stock return explained by the investors’ behavior in terms of decision-making. They tend to avoid market risk and purchase blue chip stock when it is reached its lowest. While firm value had no effect on stock return due to investors’ confidence and the good credibility of Kompas100 Index in sorting 100 stocks.

show abstract

“…Investor dapat menentukan wajar atau tidaknya harga suatu saham berdasarkan keadaan sekarang dan bukan berlandaskan estimasi di kemudian hari. Berdasarkan penelitianPratiwi (2021) yang menganalisis pengaruh faktor yang mendasar (seperti kinerja, valuasi emiten dan kondisi perekonomian) tidak memegang hubungan yang signifikan terhadap harga saham di Bursa Efek Indonesia dari tahun 2016 sampai dengan tahun 2019. Sedangkan hasil penelitian lainnya menunjukan adanya inkonsistensi menunjukan hasil yang sebaliknya bahwa PER memegang kontrol yang positif dan signifikan terhadap harga saham(Bustani, dkk., 2021) Terdapat pengaruh positif dan signifikan Earning Per Share terhadap harga saham.…”

unclassified

Pengaruh Profitabilitas dan Market Value Ratio terhadap Harga Saham Bank Umum Syariah

Mausuly

Prasetyowati

2022

Bukhori

View full text Add to dashboard Cite

Puprose: The purpose of this study is to explore the relationship between Earnings Per Share, Price to Earnings Ratio and Price to Book Value Ratio on the share prices of Islamic commercial banks. Methodology: This research used quantitative methods to analyze financial data from Islamic commercial banks for the 2021 period. In this study used 4 sharia commercial banks as samples. The analysis was performed using panel data regression analysis using E-views software version 10.0. Results: The results of the study showed that increasing Earnings Per Share (EPS) had a positive effect on stock prices, while the Price to Earnings Ratio (PER) had no significant negative effect, and the Price to Book Value (PBV) had an effect positive but not significant. Meanwhile, simultaneously increasing EPS, PER, and PBV all had a significant effect on stock prices. Contribution: With this research, it is hoped that Islamic banking practitioners and sharia investors will analyse the financial performance of the enterprise before making an investment decision. This esearch also contributes to the development of literature on the factors that influence the share prices of Islamic commercial banks. Keywords: 1. Earning Per Share 2. Price to Earning Ratio 3. Price to Book Value 4. Stock Price

show abstract

The Influence of the Fundamental and Macroeconomic Factors on Manufacturing Companies’ Stock Returns

Cited by 4 publications

References 3 publications

Pengaruh Inflasi, BI7DRR, Nilai Tukar, ROA, dan DER Terhadap Return Saham Pada Perusahaan Indeks LQ45 di Bursa Efek Indonesia Periode 2017-2021

Pengaruh Inflasi, BI7DRR, Nilai Tukar, ROA, dan DER Terhadap Return Saham Pada Perusahaan Indeks LQ45 di Bursa Efek Indonesia Periode 2017-2021

GDP, firm value and systematic risk on Indonesian Kompas100 stock return

Pengaruh Profitabilitas dan Market Value Ratio terhadap Harga Saham Bank Umum Syariah

Contact Info

Product

Resources

About