The Effect of Company Size, Earning Per Share, Price to Book Value, and Exchange Rate on Stock Returns
Keywords:
Company Size, Earning Per Share, Price To Book Value, Exchange RateAbstract
This study aims to examine the influence of company size, earning per share, price to book value, and exchange rate on stock returns. This type of research is quantitative research. The sample in this study was obtained using the purposive sampling method, which is the selection of samples with predetermined criteria. Based on the purposive sampling method, 34 samples were obtained from 57 property and real estate companies listed on the IDX for the 2018 - 2022 period. The analysis technique used is multiple linear regression. The results of the data analysis showed that the test of the Company Size hypothesis had a negative effect on stock returns, Earning Per Share had a positive and significant effect on stock returns, Price To Book Value had no positive effect, Exchange Rate had a negative effect on stock returns. simultaneously Company Size, Earning Per Share, Price To Book Value and Exchange Rate has a positive and significant effect on stock returns.
References
Agustin, R., Nurcahyono, N., Sinarasri, A., & Sukesti, F. (2023). Financial Ratio and Stock Returns in Indonesia Equity Markets : A Signaling Theory Approach. International Conference on Business, Accounting, Banking, and Economics, 277–292. https://doi.org/10.2991/978-94-6463-154-8
Ang, Robert. (1997), Buku Pintar Pasar Modal Indonesia, Jakarta, Mediasoft Indonesia.
Arianti, N. P. A., & Putra, I. P. M. J. S. 2018. The Effect of Profitability on the Relationship of Corporate Social Responsibility & Good Corporate Governance on Company Value. Scientific Journal of Management & Accounting, 24(1), 20–46.
Boentoro, N. V., & Widyarti, E. T. 2018. Analysis of the Influence of Liquidity Ratio, Leverage, Profitability, Activity and Market on Stock Return (Case Study: Consumer Goods Companies Listed on the Indonesia Stock Exchange for the period 2012 to 2016) (Doctoral dissertation, Faculty of Economics and Business).
Cynthia; Susanto, S. 2020. The effect of dividend yield, sales growth, firm value, firm size on stock returns. Journal of Multiparadigm Accounting Tarumanegara, 2(4), 1540–1549.
Dimaranty, O. 2019. Analysis Of The Effect Of Cureency Exchange, Profitability, Debt, And Company Size On Stock Retrurns (Case Study Of Companies Listed On Idx In Plantation Sub Sector). Scientific Journal of Management, 7(2), 165–173.
Ghozali, Imam. 2018. Multivariate Analysis Application with IBM SPSS 25 Program. Semarang: Diponegoro University Press.3(April), 2010–2014.
Hartono., & Jugiyanto. 2017. Portfolio Theory and Investment Analysis. Fifth Edition. Jakarta: Rajawali Press.
January Antara, I. 2012. The Effect of Dividend Payout Ratio, Price to Book Value Ratio, and Price to Earnings Ratio on Stock Returns on the Indonesia Stock Exchange for the 2009-2011 Period. E-Journal of Accounting, 1(1), 1–14.
Kasmir, S. 2012. Alternatives to capitalism and working-class struggle: A comment on Alice Bryer's "the politics of the social economy." Dialectical Anthropology, 36(1–2): 59–61.
Kristiana, I., Nurkatik, & Nurcahyono, N. (2021). The effect of sak emkm-based accounting implementation, accounting knowledge, education level, and revenue on msme taxpayer compliance in reporting its tax obligations during the covid-19 pandemic. Universal Journal of Accounting and Finance, 9(6), 1422–1432. https://doi.org/10.13189/ujaf.2021.090620
Kristianingrum, A., Sukesti, F., & Nurcahyono, N. (2022). Pengaruh Mekanisme Good Corporate Governance, Kinerja Keuangan, dan Struktur Modal terhadap Pengungkapan Sustainability Report. Prosiding Seminar Nasional UNIMUS, 5, 432–444.
Kontan.co.id. 2024. Measuring the Fate of JCI & the Indonesian Stock Market After Rating Drops and Crashes in the Region. https://investasi.kontan.co.id/news/menakar-nasib-ihsg-pasar-saham-indonesia-usai-rating-turun-dan-jeblok-di-kawasan. accessed on July 24, 2024 at 19:21.
Listyawati, I., & Kristiana, I. 2021. The Effect of Return on Equity, Current Ratio, Company Size and Debt to Equity Ratio on Company Value. MAXIMUM: Accounting Media ..., 10(2), 47–57.
Methodology, R., Quantitative, P., Management, C. U., & Education, P. D. 2016. BIBLIOGRAPHY Nazir, Moh. (2013). 2013, 2014–2015.
Meythi, et S. Hartono.2012. The effect of profit and cash flow information on stock prices. Scientific Journal of Accounting FE-UKM 3rd year, vol. 7.
Nurcahyono, N., Wibowo, R. E., & Kristiana, I. (2020). Impact Of Competence, Job Design, Job Satisfaction on Employee Directorate General of Taxes Performance. Relevance: Journal of Management and Business, 3(2), 136–145. https://doi.org/10.22515/relevance.v3i2.2955
Paryanto, P., & Sumarsono, N. D. 2018. The effect of financial performance of companies on share return in manufacturing companies listed in Indonesia Stock Exchange year 2014-2016. International Journal of Economics, Business and Accounting Research (IJEBAR), 2(02).
Purwaningrat, P. A., & Suaryana, I. G. N. A. 2015. The Effect of Changes in Earning Per Share, Debt To Equity Ratio, and Company Size on Stock Returns. E-Journal of Accounting, Udayana University, 10(2), 444–455.
Putra, F. E. P. E., & Kindangen, P. 2016. The Effect of Return on Asset (Roa), Net Profit Margin (NPM), and Earning Per Share (EPS) on the Return on Shares of Food and Beverage Companies Listed on the Indonesia Stock Exchange (2010-2014 Period). Journal of Economics, Management, Business and Accounting Research, 4(3), 235–245.
Rachelina, E., & Sha, T. L. 2020. The Effect of EPS, PBV, PER, and Profitability on Stock Returns. Journal of Multiparadigm Accounting Tarumanagara, 2(2018), 1138–1146.
Ristyawan, M. R. 2019. The effect of Return On Equity (ROE), Debt To Assets Ratio (DAR), Price To Book Value (PBV) and Net Profit Margin (NPM) on the stock returns of plantation sector companies listed on the Indonesia Stock Exchange for the period 2011-2017. Journal of Business Economics and Entrepreneurship, 8(1), 1.
Rizqiyawanti, W. D., & Ramadhan, Z. 2018. The Effect of Earning Per Share (EPS), Dividend Per Share (DPS), and Price to Book Value (PBV) on Stock Returns in Manufacturing Companies in the Automotive and Components Sub-Sector Listed on the Indonesia Stock Exchange for the 2011-2015 Period. Proceedings of the National Conference on Management Economics and Accounting FEB UMJ.
Rudangga, I Gusti Ngurah Gede and Gede Merta Sudiarta. 2016. The Effect of Company Size, Leverage and Profitability on Company Value. EJurnal Management of Udayana University, Vol. 5, No.7, 2016: 4394 4422, ISSN: 2302-8912.
Santoso, Singgih, 2018. Mastering Statistics with SPSS 25, Jakarta: PT Gramedia.
Sadono, Sukirno. 2011. Macroeconomics Introductory Theory. Jakarta: PT. Rajagrafindo Persada.
Sartono, Agus. 2010. Financial Management Theory and Application. Yogyakarta: BPFE.
Sekaran, U. 2006. Research Methodology for Business.
Setiawan, P., & Triaryati, N. 2016. The role of profitability in mediating the influence of leverage on stock returns in food and beverages companies. None, 5(5), 250297.
Setiyono, E., & Amanah, L. 2016. The effect of financial performance and company size on stock returns. Journal of Science and Research ACCOUNTING, 5(5), 1–17.
Sihombing, Gregory. 2008. "Rich and Smart to Become Stock Traders & Investors". Yogyakarta : Smart Indonesia Publisher.
Spence, M. 1978. Job market signaling. In Uncertainty in economics (pp. 281-306). Academic Press.
Sugiyono. 2021. Educational Research Methods of Combination Approach. Educational Research Methods Quantitative, Qualitative and R&D Approaches, Alfabeta.
Sugiarto, A. 2011. Analysis of the Influence of Beta, Company Size, DER and PBV Ratio on Stock Returns. Journal of Accounting Dynamics, 3(1), 8–14.
Sukamulja, Sukmawati, 2019. Analysis of Financial Statements as a Basis for Investment Decision-making, ANDI, Yogyakarta.
Supriantikasari, N., & Utami, E. S. 2019. THE EFFECT OF RETURN ON ASSETS, DEBT TO EQUITY RATIO, CURRENT RATIO, EARNING PER SHARE AND EXCHANGE RATE ON STOCK RETURNS (A CASE STUDY ON COMPANIES THAT GO PUBLIC IN THE CONSUMER GOODS SECTOR LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE PERIOD 2015-2017). Mercu Buana Accounting Research Journal, 5(1).
Suriyani, N. K., & Sudiartha, G. M. 2018. The effect of interest rates, inflation and exchange rates on stock returns on the Indonesia Stock Exchange. E-Journal of Management of Udayana University, 7(6), 255328.
Sukesti, F., Ghozali, I., Fuad, F., Almasyhari, A. K., & Nurcahyono, N. (2021). Factors Affecting the Stock Price: The Role of Firm Performance. Journal of Asian Finance, Economics and Business, 8(2), 165–173. https://doi.org/10.13106/jafeb.2021.vol8.no2.0165
Sukesti, F., Nurcahyono, N., Budiman, M., & Ifada, L. M. I. (2024). Determinant Factors Cross Generation Behavior on Halal Food Product: Empirical Evidence from Indonesia. International Journal of Islamic Business Ethics, 9(1), 1. https://doi.org/10.30659/ijibe.9.1.1-14
Tryfino. 2009. Smart Ways to Invest in Stocks. Jakarta: Transmedia Pustaka.
Umar, H. 2011. Research Methods for Business Theses and Thesis. 2nd Edition.Jakarta: Rajawali Pers.
Unud, E. M. 2016. The effect of Return on Equity, Earning Per Share, Firm Size and Operating Cash Flow on Stock Returns. E-Journal of Management of Udayana University, 5(11), 254691.
Utari, Dewi and et al. 2014. Financial Management. Jakarta: Mitra Wacana Media.
Van Horne, J. C., & Wachowicz, Jr., J. M. 2012. Principles of Financial Management. Salemba Four.
Zulfikar, T. 2014. The Influence of CAR, LDR, NPL, BOPO and NIM on the Profitability Performance (ROA) of People's Credit Banks in Indonesia. E-Journal Graduate Unpar, 1(2), 131–140.
