FACTORS INFLUENCING STOCK RETURNS: A STUDY OF MANUFACTURING COMPANIES IN THE OIL AND GAS SUB-SECTOR LISTED ON THE INDONESIA STOCK EXCHANGE IN 2018–2021
Date Published : 12 April 2024
Contributors
Afrillia Dwi Lestari, Ahmad Diponegoro, Suprapto
Author
Keywords
Return on Assets
Return on Equity
Current Ratio
Earnings Per Share
Stock Return
Proceeding
Track
General Track
License
Copyright (c) 2024 Proceedings UHAMKA
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Abstract
This study aims to analyze the influence of independent variables on the dependent variable. The independent
variables in this study are Return on Assets, Return on Equity, Current Ratio, and Earnings Per Share. The
dependent variable is stock returns. The population in this study is manufacturing companies in the oil and gas
sub-sector listed on the Indonesia Stock Exchange from 2018 to 2021. The sample selection method used in this
study was a purposive sampling method, obtaining a sample size of 18 based on certain criteria. The data
analysis technique used was multiple linear regression analysis using SPSS 22. The results of this study indicate
that Return on Assets, Return on Equity, and Current Ratio do not have a direct, positive, and significant effect on
stock returns, while Earnings Per Share has a direct, positive and significant effect on stock returns.
References
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Nasicha, D. (2018). The Effect of Return on Equity (ROE), Current Ratio (CR), Debt to Equity Ratio (DER), and Earnings Per Share (EPS) on Stock Returns in Property and Real Estate Companies Listed on the Indonesia Stock Exchange in the 2014–2016 Period (Thesis). 17 August University, Surabaya.
Pratama, I. G. S., & Idawati, I. A. A. (2019). The Effect of Financial Ratios on Stock Returns in Agricultural Companies Listed on the Indonesia Stock Exchange. Wicaksana: Journal of Environment and Development, 3(1), 38–44. https://doi.org/10.22225/wicaksana.3.1.2019.38-44
Putra, B. F. A. (2018). The influence of operating cash flow, earnings per share, return on assets, return on equity, and tax planning on stock returns (Empirical study of manufacturing companies listed on the LQ45 index on the Indonesia Stock Exchange in 2012–2016). Dewantara Economic and Business Journal, 1(8).
Putri, C. N. (2018). The influence of the current ratio, debt-to-asset ratio, and return on equity on the stock prices of non-financial companies listed on the LQ45 index on the Indonesia Stock Exchange in the 2013–2016 period (Undergraduate thesis). Maranatha Christian University.
Riyanto, B. (2008). The basics of corporate spending (5th Edition, 2nd Printing).
Samsul, M. (2015). Capital markets and portfolio management. Erlangga.
Sawir, A. (2009). Financial performance analysis and corporate financial planning. PT Gramedia Pustaka Utama.
Sinaga, R. V. (2019). The Effect of ITO, DER, ROA, EPS, and PER on Stock Returns in Food and Beverage Companies Listed on the Indonesia Stock Exchange. Journal of Management and Business.
Sujarweni, V. W. (2008). Easy SPSS Learning for Undergraduate, Dissertation, and General Research. Global Media Information.
Vireyto, N., & Sulasmiyati, S. (2017). Analysis of the Effect of Return on Assets, Return on Equity, and Earnings Per Share on Stock Prices. Journal of Business Administration, 51(1).
Laksono, C. D. (2017). The Effect of Financial Ratios on Stock Returns in Manufacturing Companies Listed on the Indonesia Stock Exchange (Thesis). Yogyakarta State University.
Nasicha, D. (2018). The Effect of Return on Equity (ROE), Current Ratio (CR), Debt to Equity Ratio (DER), and Earnings Per Share (EPS) on Stock Returns in Property and Real Estate Companies Listed on the Indonesia Stock Exchange in the 2014–2016 Period (Thesis). 17 August University, Surabaya.
Pratama, I. G. S., & Idawati, I. A. A. (2019). The Effect of Financial Ratios on Stock Returns in Agricultural Companies Listed on the Indonesia Stock Exchange. Wicaksana: Journal of Environment and Development, 3(1), 38–44. https://doi.org/10.22225/wicaksana.3.1.2019.38-44
Putra, B. F. A. (2018). The influence of operating cash flow, earnings per share, return on assets, return on equity, and tax planning on stock returns (Empirical study of manufacturing companies listed on the LQ45 index on the Indonesia Stock Exchange in 2012–2016). Dewantara Economic and Business Journal, 1(8).
Putri, C. N. (2018). The influence of the current ratio, debt-to-asset ratio, and return on equity on the stock prices of non-financial companies listed on the LQ45 index on the Indonesia Stock Exchange in the 2013–2016 period (Undergraduate thesis). Maranatha Christian University.
Riyanto, B. (2008). The basics of corporate spending (5th Edition, 2nd Printing).
Samsul, M. (2015). Capital markets and portfolio management. Erlangga.
Sawir, A. (2009). Financial performance analysis and corporate financial planning. PT Gramedia Pustaka Utama.
Sinaga, R. V. (2019). The Effect of ITO, DER, ROA, EPS, and PER on Stock Returns in Food and Beverage Companies Listed on the Indonesia Stock Exchange. Journal of Management and Business.
Sujarweni, V. W. (2008). Easy SPSS Learning for Undergraduate, Dissertation, and General Research. Global Media Information.
Vireyto, N., & Sulasmiyati, S. (2017). Analysis of the Effect of Return on Assets, Return on Equity, and Earnings Per Share on Stock Prices. Journal of Business Administration, 51(1).
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How to Cite
Afrillia Dwi Lestari, Ahmad Diponegoro, Suprapto, A. D. L. A. D. S. (2024, April 12). FACTORS INFLUENCING STOCK RETURNS: A STUDY OF MANUFACTURING COMPANIES IN THE OIL AND GAS SUB-SECTOR LISTED ON THE INDONESIA STOCK EXCHANGE IN 2018–2021. Proceedings UHAMKA. https://conferences.uhamka.ac.id/uhamka/paper/view/239