scholarly journals ANALYSIS OF THE EFFECT OF FIRM SIZE, FINANCIAL LEVERAGE, PROFITABILITY, DIVERSIFICATION ON MARKET RISK AND STOCK RETURN (Case Study of Manufacturing Companies in the Consumer Goods Industry Sector Listed on the Indonesia Stock Exchange in 2007-2016)

2019 ◽  
Vol 27 (3) ◽  
pp. 28-55
Author(s):  
Maulina Agustin ◽  
Moch Dzulkirom AR ◽  
Ari Darmawan
Keyword(s):  
Stock Returns ◽  
Firm Size ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Market Risk ◽  
Partial Least Square ◽  
Least Square ◽  
Manufacturing Companies ◽  
Financial Leverage ◽  
Quantitative Research Methods

The purpose of this study is to analyze the effect of firm size, financial leverage, profitability, diversification of market risk and stock returns. This research uses quantitative research methods. The population in this study is the consumption sector of manufacturing companies that are listed on the Indonesia Stock Exchange (IDX) during the observation period from 2007-2016. The sample technique using non probability sampling technique with purposive sampling method. The analysis technique used Partial Least Square (PLS). The results showed that the size of the firm had a negative and insignificant effect, while financial leverage, profitability, and diversification had a positive and not significant effect on stock returns and firm size had a negative and significant influence, financial leverage and profitability had a positive and significant relationship, diversification has a positive and not significant effect on market risk and market risk has a positive and significant effect on stock returns.

scholarly journals MODAL INTELEKTUAL, MANAJEMEN LABA, IMBAL HASIL SAHAM SAAT INI DAN MASA DATANG

2019 ◽  
Vol 11 (2) ◽  
pp. 88-94
Author(s):  
Vicky Dwi Putra ◽  
Jaja Suteja ◽  
Erik Syawal Alghifari
Keyword(s):  
Stock Returns ◽  
Intellectual Capital ◽  
Quantitative Research ◽  
Stock Return ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Earning Management ◽  
Manufacturing Companies ◽  
Quantitative Research Methods ◽  
Panel Data Regression

Future stock returns are factors for investors to consider investing. This research aims to identify the influence of intellectual capital, earning management, and stock return toward future stock return in manufacturing companies of sub sectors food and beverages industry listed in Indonesia Stock Exchange period 2012 to 2017. This research used quantitative research methods with the sample as many as 7 companies. The sampling technique is used, as well as purposive sampling done based on certain criteria. The type of data used is secondary with analysis using panel data regression model with Eviews 10. The result shows that simultaneosly intellectual capital, earning management, and stock returns gave influence on future stock returns as much as 76.15%. Partially, intellectual capital had a positve but not significant, earning management had a negative and significant, stock returns had a positive and significant effects to future stock returns.

scholarly journals Liquidity Ratio, Profitability, And Solvency On Stock Returns With Capital Structure As An Intervening Variable (Study On Food And Beverage Sub Sector Listed In Indonesia Stock Exchange (Idx) Period 2013-2017)

2019 ◽  
Vol 3 (1) ◽  
pp. 52
Author(s):  
Agus Sucipto ◽  
Nailul Chasanah
Keyword(s):  
Capital Structure ◽  
Stock Returns ◽  
Negative Impact ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Food And Beverage ◽  
Negative Effect ◽  
The Capital Structure

The stock market is a business field of securities trading one of them stock. For prospective investors, investment decisions in stock must be preceded by a process of analysis of variables which can influence the price of a stock. Investors need to have benchmarks in order to know whether if he invested in a company he would benefit if the shares are sold. Salaah one factor to be a benchmark investor is knowing the financial condition of the company where it can be seen with the financial ratio analysis and management of an optimal capital structure. This study aims to determine the effect of the ratio of liquidity, profitability, and solvency to return stock with a capital structure as an intervening variable.This study uses a quantitative approach. The research method using the method of documentation. Samples were company food and beverage sub-sectors listed in Indonesia Stock Exchange 2013-2017 period. The sampling technique used purposive sampling method with predetermined criteria obtained 11 samples of the company. This study uses data analysis Partial Least Square (PLS).These results indicate that liquidity ratios have a negative impact on stock returns, while the profitability and solvency ratios have no effect on stock returns. The results also show the liquidity ratio and solvency ratio has a negative effect on the capital structure, profitability ratios while not having capital structure. And capital structure has a negative impact on stock returns. The results also show the ratio of liquidity, profitability, and solvency partially no effect on stock returns with the capital structure as an intervening variable.

scholarly journals Auditor Switching, Financial Distress, and Financial Statement Fraud Practices with Audit Report Lag as Intervening Variable

2020 ◽  
Vol 3 (2) ◽  
pp. 243-257
Author(s):  
Fandry Widharma ◽  
Endah Susilowati
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Financial Statement ◽  
Manufacturing Companies ◽  
Audit Report ◽  
Financial Statement Fraud ◽  
Auditor Switching

This research aims to examine Auditor Switching and Financial Distress's effect on the possibility of Financial Statement Fraud occurrence, which is proxied by using the F-Score formula, and Audit Report Lag Intervening variable. This study's subjects are companies engaged in manufacturing and listed on the Indonesia Stock Exchange (IDX) with a research period in 2014-2018. The sample in this study used a non-probabilistic purposive sampling technique with a total of 27 manufacturing companies. The analysis technique in this study uses Partial Least Square (PLS) with smart PLS 3.0 tools. Results indicate that financial distress and audit report lag directly affect Financial Statement fraud. Auditor report lag as an intervening variable does not influence the relationship between auditor switching, financial distress, and Financial Statement fraud. These results imply that investors must be more careful in investing in the company with a lag in their audit reports. It is also suggested that management must continue to be cautious with the opportunity to do fraud in the financial statement.

Pengaruh Profitabilitas ,Pertumbuhan Perusahaan ,Struktur Kepemilikan , Dan Ukuran Perusahaan Terhadap Struktur Modal Dan Nilai Perusahaan (Studi Pada Perusahaan Manufaktur Di Bursa Efek Indonesia)

2018 ◽  
Vol 2 (2) ◽  
Author(s):  
Sabrin Sabrin Sabrin
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Ownership Structure ◽  
Firm Value ◽  
Structural Equation ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Manufacturing Companies ◽  
Company Growth

This study aims to examine and examine the effect of profitability, company growth, ownership structure and firm size on firm value through capital structure as a mediation variable on manufacturing companies In Indonesia Stock Exchange. The analysis model used is the model of structural equation and analytical tool using Smart Partial Least Square (PLS). The number of companies studied are 17 companieswith observation year during 2009-2014. Research sampling with purposive sampling method based on the criteria of manufacturing companies listed in Indonesia Stock Exchange during the observation period, 2009-2014, has paid cash dividend, has complete data about Debt to Equity Ratio (DER), Dividend per share the previous year, Return on Equity (ROE), Rate of Return on Assets (ROA), Earning Per Share (EPS), has been audited by a public accountant with an unqualified auditor's opinion, publishes consecutive financial statements, and has positive equity, Observation of 17emittenwith 102 observation periods.The results in found that profitability, company growth, firm size, and capital structure have an effect on firm value, but the ownership structure has no effect on firm value. The ownership structure affects the capital structure but profitability, company growth, and firm size have no effect on capital structure. Furthermore, there is found mediation of capital structure on indirect influence of company growth, ownership structure, and firm size to firm value, but there is no mediation of capital structure on indirect effect of profitability to firm value. The findings of this study support Signaling Theory, Packing Order Theory, Agency Theory, and Static trade-off theory.Keywords: Profitability, Growth Company, Ownership Structure, Firm Size, Capital Structure, Firm Value, Manufacturing company, Capital Market.

scholarly journals PENGARUH PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI

2019 ◽  
Vol 4 (2) ◽  
pp. 68-79
Author(s):  
Junardi Junardi
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Size ◽  
Firm Value ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Annual Reports ◽  
Manufacturing Companies ◽  
Corporate Social

Abstract:  This study aims to obtain empirical evidence regarding the effect of Corporate Social Responsibility disclosure toward firm value which is moderated by firm size. The form of research using associative. The data collection can be collected on financial statements, annual reports of manufacturing companies which are published by Indonesia Stock Exchange, journal, and internet. Based on the collection of samples using purposing sampling techniques found the number of samples of this study were 40 of sample company in manufactur sector listed in Indonesia Stock Exchange in 2015-2017. Data analysis techniques using Partial Least Square (PLS) with the SmartPLS 3.0 software. The results of this study conclude that CSR has a positive significant effect on firm value and firm size does not significant effect on firm value. Futhermore, firm size as a moderating variable can not be strenghen the influence of CSR on firm value. Keyword: CSR, Firm size, Firm ValueAbstrak: Penelitian ini bertujuan untuk memperoleh bukti empiris mengenai pengaruh pengungkapan Corporate Social  Responsibility terhadap nilai perusahaan yang dimoderasi oleh ukuran perusahaan. Bentuk penelitian menggunakan asosiatif kausal. Pengumpulan data dilakukan dengan studi dokumentasi  dan studi pustaka yang bersumber pada laporan keuangan dan laporan tahunan perusahan manufaktur yang dipublikasikan di Bursa Efek Indonesia. Pengambilan sampel menggunakan teknik purposive sampling didapatkan jumlah sampel dipenelitian ini sebanyak 40 perusahaan  manufaktur. Teknik analisis data menggunakan Partial Least Square (PLS) dengan bantuan software SmartPLS 3.0. Hasil penelitian ini menunjukkan bahwa CSR berpengaruh positif signifikan terhadap nilai perusahaan, dan ukuran perusahaan tidak berpengaruh signifikan tehadap nilai perusahaan. Kemudian, ukuran perusahaan sebagai variabel moderasi tidak mampu memperkuat pengaruh antara CSR terhadap nilai perusahaanKata Kunci: CSR, Ukuran perusahaan, Nilai Perusahaan

STRUKTUR MODAL DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING. (STUDI KASUS PADA PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BEI PERIODE 2016-2018).

2020 ◽  
Vol 4 (02) ◽  
Author(s):  
Anindiya Mustika Gunarwati ◽  
Siti Maryam ◽  
Sudarwati Sudarwati
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Company Size ◽  
Manufacturing Companies ◽  
Descriptive Research ◽  
Company Value ◽  
Quantitative Descriptive

The purpose of this study was to determine the effect of Capital Structure and Firm Size on Firm Value with Profitability as Intervening Variables. (Case Study on Manufacturing Companies in the Consumer Goods Industry Sector which are listed on the Indonesia Stock Exchange for the 2016-2018 Period). This research uses quantitative descriptive research type. Sample 27 companies using Purposive sampling technique. The analysis method uses path analysis with SPSS software version 21.Based on the test result min this study that the variable capital structure and company size have a positive and significant effect on profitability. Capital structure has no effect on firm value, firm size and profitability affect company value, and profitability is able to mediate the effect of capital structure and firm size on firm value. Keywords: capital structure, company size, profitability and firm value.

scholarly journals PENGARUH MEKANISME CORPORATE GOVERNANCE DAN UKURAN PERUSAHAAN TERHADAP KINERJA KEUANGAN (Survei Pada Perusahaan Manufaktur yang terdaftar di BEI )

2018 ◽  
Vol 2 (2) ◽  
pp. 010-031
Author(s):  
Animah Animah ◽  
Lukman Effendy ◽  
Alamsyah M. Thahir ◽  
Erna Widiastuty
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Firm Size ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Governance Mechanism ◽  
Governance Mechanisms ◽  
Corporate Governance Mechanisms ◽  
Corporate Governance Mechanism

The purpose of this research is to examine the effect of corporate governance mechanisms,  firm size of financial performance. The Population of this research is the company manufacturing  in BEI. The sampling technique used is purposive sampling. The analytical tool used is using partial least  square program. The independent variables in this research are corporate governance mechanism,  firm size  while the dependent variable is the performance of the financial. The result of the research shows that firm size  influence to financial performance, while other variables such as corporate governance mechanisms have no effect negative  to financial performance.

scholarly journals Pengaruh Profitabilitas, Tingkat Pertumbuhan Aktiva, Leverage Operasi, Stabilitas Penjualan terhadap Struktur Modal dan Nilai Perusahaan

IQTISHODUNA ◽  
2020 ◽  
Vol 16 (1) ◽  
pp. 17-38
Author(s):  
Kety Lulu Agustin ◽  
Ubud Salim ◽  
Andarwati Andarwati
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Manufacturing Companies ◽  
Company Value ◽  
Asset Growth ◽  
Operating Leverage ◽  
The Capital Structure

The purpose of this research is to determine the effect of profitability, asset growth, operating leverage and sales stability on the capital structure and firm value. The company value in this study was published with Tobin Q. The population of this study were all manufacturing companies reported on the Indonesia Stock Exchange for the period 2015-2017. In accordance with the selection criteria, there are 46 filtered sample companies. The analysis technique that used is Partial Least Square (PLS).  The results of hypothesis indicate profitability and sales that are significant to the capital structure while increasing performance and leverage of operations do not have a significant effect on capital structure. Profitability, asset growth, sales stability have a significant effect on firm value while operating leverage does not involve significance to firm value. Profitability and influence of sales have a significant effect on firm value through capital structure, while yield growth and operating leverage are opposite.

scholarly journals FACTORS AFFECTING OPERATING CASH FLOW TO STOCK RETURN THROUGH STOCK PRICE

2018 ◽  
Vol 5 (2) ◽  
Author(s):  
Aprih . Santoso
Keyword(s):  
Stock Returns ◽  
Cash Flow ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Return ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Financial Statements ◽  
Manufacturing Companies ◽  
Operating Cash Flow

Abstract : Companies need funds in order to carry out operations such as the financing of production activities, pay employees, pay other expenses related to the operation of the company. One way to obtain these funds is to attract investors to invest in companies in the form of stock, but in making this investment is certainly not easy for investors, because investors need consideration beforehand to find out how the company's performance. The purpose of this study was to examine and analyze the effect of operating cash flow to stock return through stock price at companies listed on the Stock Exchange Year 2012-2015. The data used in this study dala are secondary data from the financial statements of companies listed on the Indonesia Stock Exchange period 2012 - 2015. The data are in the form of financial statements can be obtained from the Indonesian Capital Market Directory (ICMD), the IDX website www.idx.co. id as well as from various other sources to support this research. The population in this research is manufacturing companies listed on the Stock Exchange the period 2012 - 2015. The samples taken by the sampling technique used purposive sampling.From the test results and analysis of the data it can be concluded that operating cash flow directly and indirectly has no effect on stock returns through stock prices showed no significant results. Keywords :  Operating Cash Flow, Stock Price, Stocks Return

scholarly journals Factors affecting beta in manufacturing companies in Indonesia Stock Exchange

2020 ◽  
Vol 1 (4) ◽  
pp. 259-268
Author(s):  
Retnoning Ambarwati
Keyword(s):  
Time Series Data ◽  
Stock Exchange ◽  
Least Square ◽  
Series Data ◽  
Manufacturing Companies ◽  
Financial Leverage ◽  
Online Data ◽  
Dividend Payout ◽  
Asset Growth ◽  
Asset Size

This research has want to know and prove the effect of dividend payout, asset growth, asset size, liquidity, financial leverage, earning variability and accounting beta to beta of stock simultaneously and partially in manufacturing companies at Jakarta Stock Exchange.  This research use secondary data which is collected based on time series data and cross section include 12 manufacturing company stocks as the sample. The data is collected from the online data of Jakarta Stock Exchange in YPKP, Indonesia Capital Market Directory, JSX Statistic, and Business News. The model of this research is estimated by Generalized Least Square (GLS) with Fixed Effect Model and Dummy Variable to estimate the effect of some financial variables specifically towards Beta of Stock. The result show that all of the variables in this research consistent with the theory as expected. The coefficient direction of asset growth, financial leverage, earning variability and accounting beta shows positive, while the coefficient direction of dividend payout, asset size, liquidity shows oppositely. Simultaneously all variables influence beta of stock, in the other side partially shows that asset growth, earning variability, asset size, and liquidity, have significant effect to beta, whereas dividend payout ratio, financial leverage and accounting beta do not have significant effect. One of the implications of this research is that the study of beta of stock should be more comprehensively, not only contains micro variables but also the macro variables as well include dimension of social economy and politic

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