Corporate Financial Performance Effects of Macro Economic Factors Against Stock Return
Abstract: The improvement in
macroeconomic factors can provide a signal as a sign that the investment
climate will also be more conducive. Indonesia Stock Exchange (IDX) which can
be considered as the main indicator of financial performance has experienced
substantial growth from 1999 until now. IDX experiencing a record low in 1998
amid the economic crisis, but reversed course and reached record highs in 2013.
In 2010 IDX is the index with the best performance in the Asia Pacific region
with an increase of 44 percent. This study aims to determine the effect of the
company's financial performance with ROA and ROE indicators, macroeconomic
factors with indicators of SBI interest rate and exchange rate on stock returns
of non-financial companies listed on the Indonesia Stock Exchange. The results
of this study indicate that the variable ROA partially negative effect on stock
returns, ROE has a positive effect on stock returns, the variable interest rate
and exchange rate SBI positive effect on stock returns. Conclusion This study
shows that the regression model is formed from Independent variables ROA, ROE,
SBI interest rate and the exchange rate can be used as the basis of investment
decision making considerations forinvestors in the Indonesia Stock Exchange
(IDX) mainly for shares in the company's nonfinance.
Penulis: Angrita Denziana, .
Indrayenti, Ferdinan Fatah
Kode Jurnal: jpakuntansidd140774
