MIX : Jurnal Ilmiah Manajemen
Vol 13, No 3 (2023): MIX: JURNAL ILMIAH MANAJEMEN

Determinants of Stock Return and Firm Value of Manufactures Listed at the Indonesian Stock Exchanges

Afriyani Afriyani (Senior lecturer, Sekolah Tinggi Ilmu Ekonomi Tri Dharma Nusantara Makassar, Indonesia)
Nurfatwa Andriani Yasin (Senior lecturer, Sekolah Tinggi Ilmu Ekonomi Tri Dharma Nusantara Makassar, Indonesia)
Agussalim Rahman (Senior lecturer, Sekolah Tinggi Ilmu Ekonomi Tri Dharma Nusantara Makassar, Indonesia)



Article Info

Publish Date
31 Oct 2023

Abstract

Objectives: This study aimed to examine the impact of ownership structure, fundamental factors, and technical analysis on stock returns, as well as the impact of these factors on firm value.Methodology: This research is an explanatory descriptive research with a quantitative approach where the study encompasses a population of 148 manufacturing companies listed on the Indonesia Stock Exchange. From this population, a purposive sample of 50 companies is selected for in-depth analysis.Finding: The findings indicated that the ownership structure did not have a substantial impact on stock returns, despite showing a positive trend. Similarly, fundamental factors were found to have a positive influence on stock returns but the effect was not statistically significant. In contrast, the utilization of analytical techniques was associated with a significant and positive impact on stock returns. Additionally, the study revealed that ownership structure, fundamental factors, analytical techniques, and stock returns collectively had a noteworthy and positive effect on firm value. Finally, the investigation demonstrated that ownership structure, fundamental factors, and technical analysis played a significant role in determining firm value through their impact on stock returns.Conclusion: Overall, the company's value can be significantly enhanced through stock returns by considering ownership structure, fundamental factors, and technical analysis in a positive manner.

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Journal Info

Abbrev

Jurnal_Mix

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

Description

MIX: Jurnal Ilmiah Manajemen is a journal that publishes the results of empirical research that has strong novelty with reference to the latest journals and contributes greatly to scientific development in the fields of Management: Finance, Marketing, Human Resources, and ...