REAKSI SIGNAL RASIO PROFITABILITAS DAN RASIO SOLVABILITAS TERHADAP RETURN SAHAM PERUSAHAAN

Abstract

ABSTRACT
This research was conducted in order to test the influence of fundamental
factors (NPM, ROA, ROE, EPS, and DER) on stock returns of food and beverage
manufacturing companies listed on the BEI for the 2013-2016 period. The sampling
technique used was purposive sampling with criteria including (1) listed on the BEI
for the 2013-2016 period, (2) issuing a complete financial report for a predetermined
period, and (3) not experiencing losses during the observation period. The population
in this study were of 16 companies and the number of samples was of 13 companies,
so the number of sample observations for 4 years became 52 samples. The analysis
technique used in this study is multiple linear regression. The results show that
simultaneously there is a positive significant effect between NPM, ROA, ROE, EPS,
and DER with stock returns. R2 test of this study amounted to 0.890 or 89%, meaning
that the independent variables have a contribution together of 89% and the
remaining 11% is influenced by other variables not included in this study. Partially
NPM, ROA, ROE, EPS, and DER have a significant positive effect on stock returns.
Keywords: Net Profit Margin, Return on Assets, Return on Equity, Earning Per
Share, Debt to Equity Ratio, and Stock Return.