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Journal : Jurnal Riset Manajemen dan Bisnis (JRMB) Fakultas Ekonomi UNIAT

THE FINANCIAL PERFORMANCE AND MACROECONOMIC FACTORS IN FORMING STOCK RETURN Bertuah, Eka; Sakti, Indra
Jurnal Riset Manajemen dan Bisnis (JRMB) Fakultas Ekonomi UNIAT Vol 4 No S1 (2019): Special Issue Tantangan Bisnis di Era Digital
Publisher : Economic Faculty, Attahiriyah Islamic University

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Abstract

This research focuses on fundamental and macroeconomic conditions in the formation of stock returns as an empirical test on signaling theory, capital structure theory, and prospect theory. The research sample is companies listed on the BEI property sector with a total of 17 companies that meet the criteria of purposive sampling. The analysis technique uses panel data regression with random effects. The results showed simultaneously that financial performance and macroeconomic factors affect stock returns. The partial test shows that profitability and capital structure do not affect stock returns, while PBV and macroeconomic factors have a positive effect on stock returns. In addition, GDP is the dominant factor affecting stock returns. The implications of this study refer to investors in determining investment strategies, for management in managing companies and for regulators in making economic policy decisions. Keywords: Stock Return, Financial Performance, Macroeconomic, Property Sector
Co-Authors . Roslidar Agustinsa, Ringki Ahmad Fudholi Alif Yanuar Zukmadini Andik Purwanto Andria, Agus Anita Setya Rahayu anjelie, Anggi Annisa Apriani Widya Ningsih Arianto, Dian Ariefa Primair Yani Ariefa Primairyani, Ariefa Bambang Sugiarto Banowati, Lies BHAKTI KARYADI Budi Mulyati, Budi Chitraningrum, Nidya Dedy Hamdani Defianti, Aprina Difa, Irma Oktiara Dwi Afni Maileni, Dwi Afni Efendi, Kurniawan Eka Bertuah Ekaputri, Rendi Zulni Eko Risdianto Eko Swistoro Eladira, Eladira Erwin, Iwan Muhammad Fadhila, Annisa Fadhilah, Annisa Alya Faisal, Rizki Farishi, Salman Hanis Destrini Henny Johan Herdiana, Dina Heryanto, Medi Hutabarat, Naftalia Artaria Hutasoit, Ispandir Ichsan Kurnia Saputra Irwan Koto Irwan Koto, Irwan Islamy, Fajrul Jaulim Sirait Kelvin, Edwar Laras Mitra Parayogi Lisantia, Risky Novi Mahayani, Ni Kadek IDN Mika Dwi Permata Muchtar, Kahlil Muhammad fauzan Munzir, T. Nirwana . Nirwana Nirwana Nirwana, Nirwana Novi Ade Suryani Novita Darma Anggraini Nur Hidayah Nursa'adah, Euis Nyoman Rohadi Octavianti, Dwi Putri Parlindungan, Deni Pramesti, Adelia Widya Pranitasari, Diah Prawira, Andika Pristika Handayani Putra, Rian Rusmana Putri, Desy Hanisa Putri, Okta Rahma Puyanti, Puyanti Rahayu Gustika Rahmat Kurniawan Riska Novialni, Riska Rizki Tri Anugrah Bhakti Ronggo Waskito, Jefri Sabrina, Hesti Saputra, Huzair Sari, Kezia Eka Sawaluddin Siregar Setianingsih, Ratna Sumandiarsa, I Ketut Sutarno Sutarno Sutarno Sutarno, M Syahputri, Yuni Syaiful Rochman Syarif Hidayat Tri Novianti, Tri Uliyandari, Mellyta USWATUN HASANAH Vijay Amar Wage Klaudhi Sintya Wardana, Rendy Wikrama Wardani, Dian Wiris Woro Wenda Dwi Meilesri Yesy Oktalia Yulisa, Putri Dwi Yusniar Lubis