PENGARUH FAKTOR FUNDAMENTAL PERUSAHAAN DAN EKONOMI TERIIADAP RETARNSAHAM
The global financial crisis affects the country's economy in Indonesia, especially on the state of the stock market index, interest rates and the dollar exchange rate, so that the capital market is not considered an attractive investment option. Manufacturing companies is selected as the popula...
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| Main Authors: | , |
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| Format: | Theses and Dissertations NonPeerReviewed |
| Published: |
[Yogyakarta] : Universitas Gadjah Mada
2013
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| Subjects: | |
| Online Access: | https://repository.ugm.ac.id/125424/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=65592 |
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| Institution: | Universitas Gadjah Mada |
| Summary: | The global financial crisis affects the country's economy in Indonesia,
especially on the state of the stock market index, interest rates and the dollar
exchange rate, so that the capital market is not considered an attractive investment
option. Manufacturing companies is selected as the population in this study
because it has the highest number of companies, an industrial sector which shares
most of the trading activity, it is estimated to have influence on the dynamics of
stock trading on the stock exchange.
To determine whether a company's stock is a viable investment alternative,
then the first thing to do is to analyze fundamental factors. Parameters were tested
to determine the fundamental factor that may affect the company's stock return is
ROA and EPS. Besides macroeconomic factors also cannot be denied affecting
the assessment of a stock. Parameters tested for the condition is the sensitivity rate
on stock price movements, and the sensitivity of inflation to changes in stock
prices.
The type of data in this study is secondary data, including ROA, EPS
foreign exchange rates and inflation and stock returns. Sample of firms in this
study were 113 companies in the manufacturing industry. Empirical testing of the
model used in this study is multiple regression, then testing them to test the model
(F test), Hypothesis Testing (T Test), and the coefficient of determination (R2
Test).
Based on the test results, it is concluded that the variables that influence
stock returns is ROA, EPS and exchange rate sensitivity to changes in stock
prices, while the other does not give the effect is the sensitivity of inflation to
changes in stock prices does not affect the magnitude of stock returns. |
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