The Influence of Debt Equity Ratio (DER), Earning Per Share (EPS), Net Profit Margin (NPM) and Return on Equity (ROE) on Stock Returns (Study of the Cigarette Industry that Goes Public on the Indonesian Stock Exchange for the 2011-2021 Period)
DOI:
https://doi.org/10.38035/jafm.v4i4.265Keywords:
Debt Equity Ratio, Earning Per Share, Net Profit Margin, Return on Equity, Return SahamAbstract
The capital market is one alternative used by companies to obtain funds. The presence of the capital market increases the choice of sources of funds for investors and increases investment choices, which can also be interpreted as opportunities to obtain returns. Investment is a commitment to a certain amount of funds or other data sources made at this time with the aim of obtaining a number of profits in the future. This research aims to find the influence of Debt Equity Ratio, Earning Per Share, Net Profit Margin, Return on Equity, Stock Return in the Cigarette Industry that Goes Public on the Indonesian Stock Exchange for the 2011-2021 Period. This research uses an expanatory approach. The object of this research is the cigarette industry listed on the Indonesian stock exchange starting from 2011-2021 on 3 companies which was analyzed using path analysis. From the test results it can be seen that the Debt Equity Ratio (DER), Earning Per Share (EPS), Net Profit Margin (NPM) and Return on Equity (ROE) on Stock Returns is positive and significant. However, if viewed partially, Return on Equity (ROE) has a more dominant influence on Stock Returns. This can be understood because each indicator of Debt Equity Ratio (DER), Earning Per Share (EPS), Net Profit Margin (NPM) and Return on Equity (ROE) is used as an aspect of measuring Stock Returns.
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Alwi, Z. I., 2011, Pasar Modal Teori dan Aplikasi, Jakarta : Penerbit Yayasan Pancur Siwah
Ang, Robert, 2007, Buku Pintar Pasar Modal Indonesia, Jakarta :Mediasoft
Arifin, A., 2011, Membaca Saham, Yogyakarta : And
Brigham, Eugene F, and Philips R. Daves, 2011. Intermediate Financial Management, South Western, United States.
Horne, V. 2005. Analisis Kinerja Perusahaan yang melakukan Right Issue di Indonesia, Simposium Nasional akuntansi IV.
Husnan, Suad, 2011, Dasar-dasar Teori Portfolio dan Analisis Sekuritas, Yogyakarta : UPP AMP.YKPN
Husnan, S dan Pudjiastuti, E. 2008. Dasar-dasar Manajemen Keuangan, Yogyakarta : UPP AMP YKPN.
Jogiyanto Hartono, 2011, Teori Portofolio dan Analisa Investasi, Yogyakarta : BPFE UGM
Kasmir, 2008. Analisis Laporan Keuangan, Jakarta : Rajawali Pers.
Kieso, Weygand dan Warfield. 2007. Akuntansi Intermediate, Jakarta: Erlangga.Mondigliani and Miller, 1958, The Cost of Capital, Corporation Finance and The Theory of Investment, American Economic Review, Vol.4, p. 261-297.
Munawir, S., 2011. Analisa Laporan Keuangan, Yogyakarta : Liberty.
Liestyowati, 2010, Faktor Yang Mempengaruhi Keuntungan Saham Di Bursa Efek Jakarta: Analisis Periode Sebelum Dan Selama Crisis, Jurnal Manajemen Indonesia, Vol.1, No. 2, p: 40-50.
Sudana, I. M., 2009, Manajemen Keuangan Teori dan Praktek, Surabaya : Airlangga University Press.
Sugiyono. 2012. Metode Penelitian Bisnis. Bandung: CV Alfabeta.
Tandelilin, Eduardus, 2010, Portofolio dan Investasi teori dan aplikasi, Edisi Pertama, KANISIUS, Yogyakarta.
Teguh Prasetya .2008, Analisa Rasio Keuangan dan Nilai Kapitalisasi Pasar sebagai Prediksi Harga. thesis. Semarang: Program Pascasarjana Universitas Diponegoro.
Weston, J. Fred & Thomas E Coopeland. 2010. Manajemen Keuangan, terjemahan JakaWasana dan Kibrandoko, Jakarta : Erlangga.
Yesica Marisa, 2010. Analisis Pengaruh Kinerja Keuangan Perusahaan Terhadap Return Saham Pada Perusahaan Manufaktur Yang Terdaftar Di BEI. Medan : Sumatra Utara.
Umar, Husein. 2008. Metode Penelitian untuk Skripsi dan Tesis Bisnis. Edisi Kedua. Jakarta: PT Raja Grafindo Persada
Supardi. 2012. Penelitian Tindakan Kelas. Jakarta: PT Bumi Aksara
Kusnendi. 2008. Model-model Persamaan Struktural. Bandung: Alfabeta
Indriantoro, Nur dan Bampang Supomo. 2009. Metodologi Penelitian Bisnis untuk Akuntansi dan Manajemen. Edisi Pertama. Yogyakarta: BPFE Yogyakarta
Riduwan dan Engkos Achmad Kuncoro. 2012. Cara Menggunakan dan Memaknai Analisis Jalur (Path Analysis). Bandung: Alfabeta
Anoraga, Pandji dan Pakarti, Piji. 2006. Pengantar Pasar Modal. Cetakan Kelima. Jakarta: PT. Asdi Mahasatya
Munawir. 2011. Analisis Laporan Keuangan. Edisi 4. Yogyakarta: Liberty
Adhitama, Wiwin dan Sudaryono, Eko A. 2005. Faktor-faktor Yang Mempengaruhi Price Earning Ratio Pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Jakarta. Jurnal Bisnis Manajemen
Riyanto, Bambang. 2000. Dasar-dasar Pembelanjaan Perusahaan. Yogyakarta:Yayasan Badan Penerbit Gajah Mada
Roswinna, W., Anggraeni, A. F., Priatna, D. K., Monalisa, N., & Ahada, R. (2023). FAKTOR YANG MEMPENGARUHI EFEKTIVITAS PENYERAPAN ANGGARAN DI BALAI BESAR KONSERVASI SDA JAWA BARAT. Value : Jurnal Manajemen Dan Akuntansi, 18(1), 167–181. https://doi.org/10.32534/jv.v18i1.3883
Anggraeni, A. F., Priatna, D. K., Roswinna, W., Latifah, N. A., & Ahada, R. (2023). Pengaruh Leverage dan Profitabilitas Terhadap Agresivitas Pajak Bank Umum Konvensional yang Terdaftar di BEI. Jurnal Proaksi, 10(1), 30–41. https://doi.org/10.32534/jpk.v10i1.3858
Anggraeni, Annisa Fitri, Winna Roswinna, Dodi Sukmayana, Suryaman. (2022). Critical Factors of the Implementation Accounting Information System Quality and Quality of Accounting Information (Empirical Study on SOEs in Indonesia). Central European Management Journal, 30(4), 398–405. Retrieved from https://journals.kozminski.cem-j.org/index.php/pl_cemj/article/view/38
Pratiwi Puteri, K., Pebiani, R., Lusiana Yulianti, M., Fitri Anggraeni, A., & Puteri Hadiyani, K. (2023). The Role of Profitability and Leverage on Corporate Social Responsibility Disclosure in Mining Company Indonesia. Greenation International Journal of Economics and Accounting (GIJEA), 1(3), 320 - 330. https://doi.org/10.38035/gijea.v1i3.83
Fitri Anggraeni, A., Komar Priatna, D., Roswinna, W., & Zai, E. (2023). How to Increase the Quality of Accounting Information System and Accounting Information Quality in Bandung’s Higher Educations?. Greenation International Journal of Economics and Accounting (GIJEA), 1(3), 294 - 308. https://doi.org/10.38035/gijea.v1i3.81
Deden Komar Priatna, Jusdijachlan, Susan Ridwan. (2022). Improving Employee Performance and Employee Satisfaction Through Work Life Balance and Burnout. Central European Management Journal, 30(4), 345–351. https://doi.org/10.57030/23364890.cemj.30.4.28
Agus Mulyana, Nandan Limakrisna. (2022). The Influence of Customer Demands and Marketing Mix on Total Customer Savings of Bank BJB Bandung City. Central European Management Journal, 30(4), 406–413. https://doi.org/10.57030/23364890.cemj.30.4.35
Agus Mulyana, Komar Priatna, D., Anne Lasminingrat, Dodi Sukmayana, Dodi Tisna Amijaya, Luthfi Setiadiwibawa, & Rudi Suprianto Ahmadi. (2023). The Model of Purchasing Decisions Making For Honey Product. Journal of Accounting and Finance Management, 4(1), 155-159. https://doi.org/10.38035/jafm.v4i1.207
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Published
2023-09-28
How to Cite
Hanifah, A. . (2023). The Influence of Debt Equity Ratio (DER), Earning Per Share (EPS), Net Profit Margin (NPM) and Return on Equity (ROE) on Stock Returns (Study of the Cigarette Industry that Goes Public on the Indonesian Stock Exchange for the 2011-2021 Period). Journal of Accounting and Finance Management, 4(4), 285–296. https://doi.org/10.38035/jafm.v4i4.265
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