Jurnal Inovasi Akuntansi
Vol. 4 No. 1 (2026)

Determination of Stock Returns of Companies in the Various Industrial Sectors in 2022-2024

Kadek Apriada (Universitas Mahasaraswati Denpasar)
I Nyoman Kusuma Adnyana Mahaputra (Universitas Mahasaraswati Denpasar)
Putu Riska Wulandari (Universitas Hindu Negeri I Gusti Bagus Sugriwa Denpasar)



Article Info

Publish Date
01 Jun 2026

Abstract

Purpose: This study aims to examine and obtain empirical evidence on whether profitability, liquidity, company size, price to book value, and leverage influence stock returns of companies in the Miscellaneous Industry Sector in 2022–2024. The population in this study is 65 companies in the miscellaneous industry sector listed on the Indonesia Stock Exchange in 2022–2024. Sampling used a purposive sampling technique, resulting in 40 companies with 3 years of observation, resulting in 120 research samples. Method: Data were analyzed using multiple linear regression analysis. Findings: The results of this study indicate that profitability and price-to-book value positively influence stock returns in companies in the Miscellaneous Industry Sector listed on the IDX during the 2022-2024 period. Meanwhile, liquidity, company size, and leverage have no effect on stock returns in companies in the Miscellaneous Industry Sector listed on the IDX during the period 2022-2024. Implications: This research provides practical and theoretical implications: in the context of companies in the miscellaneous industry sector listed on the Indonesia Stock Exchange for the 2022–2024 period, investors should focus more attention on profitability indicators and the price-to-book ratio (P/BV) when making investment decisions, as both variables have been shown to positively influence stock returns. This suggests that a company's ability to generate profits and market perception of its value are key indicators in determining stock returns.

Copyrights © 2026






Journal Info

Abbrev

jia

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Inovasi Akuntansi (JIA) is committed to promoting high-quality research in accounting that can make a meaningful contribution to the understanding and development of accounting practice. Through open access, we hope that the knowledge we publish can be freely accessed by anyone, from any ...