Effect of Profitability, Liquidity and Earning Management on Stock Return in IDX Companies
DOI:
https://doi.org/10.35134/jbe.v9i2.261Keywords:
Profitability, liquidity, earnings management, leverage, stock returnsAbstract
This study aims to determine whether profitability, liquidity and earnings management can be used to predict the stock return of manufacturing companies listed in Indonesia Stock Exchange. Samples were obtaines randomly on companies listed in Indonesia Stock Exchange as many as 100 companies with over 5-year study period from 2018 to 2022 year. The data used are secondary data from financial statements or annual reports from 2014 to 2018 year. The results showed that the profitability is partially a significant negative effect on Return Shares. Liquidity partially no significant effect on stock returns. Earnings management partially no significant effect on stock returns. and leverage no significant effect on stock returns. Profitability, liquidity, earnings management, and leverage simultaneously have a significant effect on stock returns.
References
Adiwibowo, A. S. (2018). Pengaruh Manajemen Laba, Ukuran Perusahaan Dan Leverage Terhadap Return Saham Dengan Kebijakan Dividen Sebagai Variabel Moderasi. Jurnal Ilmiah Akuntansi Universitas Pamulang, 6(2), 203. https://doi.org/10.32493/jiaup.v6i2.1955
Akbar, Diana, N., & Afifudin. (2021). Analisis Kinerja Keuangan Perusahaan Sebelum Dan Sesudah Penerapan E-Commerce (Studi Pada Perusahaan Sub Sector Retail Trade Dalam Index Saham Syariah Indonesia (Issi) Di Bursa Efek Indonesia). Jurnal Ilmiah Riset Akuntansi, 10(03), 23–32.
Al-Lozi, N. M., & Obeidat, G. S. (2016). The relationship between the stock return and financial indicators (profitability, leverage): An empirical study on manufacturing companies listed in Amman Stock Exchange. Journal Of Social Sciences (Coes&Rj-Jss), 5(3), 408–424.
Cordeiro, J. J., & Tewari, M. (2015). Firm characteristics, industry context, and investor reactions to environmental CSR: A stakeholder theory approach. Journal of Business Ethics, 130, 833–849.
Edelen, R. M., Ince, O. S., & Kadlec, G. B. (2016). Institutional investors and stock return anomalies. Journal of Financial Economics, 119(3), 472–488.
Fitriana, D., Andini, R., & Oemar, A. (2016). Pengaruh Likuiditas, Solvabilitas,Profitabilitas, Aktivitas Dan Kebijakan Dividen Terhadap Return Saham Perusahaan Pertambangan Yang Terdaftar Pada Bei Periode 2007-2013 Dewi. Journal of Accounting, 2(2).
Hadiningrat Elia w, M. M. dan P. J. J. (2017). Analisis Pengaruh Rasio Likuiditas Dan Rasio Profitabilitas Terhadap Return Saham Pada Perusahaan Lq 45. Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 5(2), 2349–2358.
Nalarreason, K. M., Sutrisno, T., & Mardiati, E. (2019). Impact of leverage and firm size on earnings management in Indonesia. International Journal of Multicultural and Multireligious Understanding, 6(1), 19–24.
Nalurita, F. (2017). The effect of profitability ratio, solvability ratio, market ratio on stock return. Business and Entrepreneurial Review, 15(1), 73–94.
Purba, J. T., & Africa, L. A. (2019). The effect of capital structure, institutional ownership, managerial ownership, and profitability on company value in manufacturing companies. The Indonesian Accounting Review, 9(1), 27–38.
Sangsoko Hendro, S. F. (2018). Pengaruh Leverage, profitabilitas dan economic value added (EVA) Terhadap Return Saham pada Industri makanan dan minuman yang terdaftar dibursa efek indonesia (BEI) tahun 2012-2016. Journal Ilmiah Akuntansi Fakultas Ekonomi, 4. https://doi.org/10.1017/CBO9781107415324.004
Siegel, J. J. (2021). Stocks for the long run: The definitive guide to financial market returns & long-term investment strategies. McGraw-Hill Education.
Slamet Mohamad Soleh Sri, W. M. W. dan M. W. (2019). Pengaruh Likuiditas, Efisiensi Penggunaan Modal Kerja dan Leverage terhadap Profitabilitas pada Perusahaan Manufaktur Sektor Industri Barang Konsumsi yang terdaftar di Bursa Efek Indonesia. Jurnal Riset Akuntansi, 1. https://doi.org/10.32812/jibeka.v10i2.67
Sucipto, A., & Chasanah, N. (2019). Effect Of 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). Ekspektra: Jurnal Bisnis Dan Manajemen, 3(1), 52–68.
Thai, A. (2019). The Effect of Foreign Ownership on Capital Structure in Vietnam. Review of Integrative Business and Economics Research, 8(1), 20.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 UPI YPTK Journal of Business and Economics
This work is licensed under a Creative Commons Attribution 4.0 International License.
Journal of Business and Economics (JBE) UPI YPTK
