International Journal of Social Science & Economic Research
Submit Paper

Title:
THE EFFECT OF FINANCIAL PERFORMANCE ON FIRM VALUE AND STOCK RETURN
(Study on manufacturing companies listed on the Indonesia Stock Exchange for the period 2015-2017)

Authors:
Andi Ismail Marasabessy , Danardana Murwani , Ely Siswanto

|| ||

Andi Ismail Marasabessy1 , Danardana Murwani2 , Ely Siswanto2
1. Graduate School, Universitas Negeri Malang, Indonesia
2. Faculty of Economics, Universitas Negeri Malang, Indonesia

MLA 8
Marasabessy, Andi Ismail, et al. "THE EFFECT OF FINANCIAL PERFORMANCE ON FIRM VALUE AND STOCK RETURN." nt. j. of Social Science and Economic Research, vol. 4, no. 4, Apr. 2019, pp. 2595-2603, ijsser.org/more2019.php?id=190. Accessed Apr. 2019.
APA
Marasabessy, A., Murwani, D., & Siswanto, E. (2019, April). THE EFFECT OF FINANCIAL PERFORMANCE ON FIRM VALUE AND STOCK RETURN. nt. j. of Social Science and Economic Research, 4(4), 2595-2603. Retrieved from http://ijsser.org/more2019.php?id=190
Chicago
Marasabessy, Andi Ismail, Danardana Murwani, and Ely Siswanto. "THE EFFECT OF FINANCIAL PERFORMANCE ON FIRM VALUE AND STOCK RETURN." nt. j. of Social Science and Economic Research 4, no. 4 (April 2019), 2595-2603. Accessed April, 2019. http://ijsser.org/more2019.php?id=190.

References

[1]. Atmaja, L, S. 2008. Teori dan Praktek Manajemen Keuangan. Yogyakarta: Penerbit ANDI
[2]. Brigham, Rugene F, dan Houston, Joel F. 2010. Dasar-dasar Manajemen Keuangan Terjemahan. Edisi 11. Jakarta : Salemba Empat
[3]. Budialim, G. 2013. Pengaruh Kinerja Keuangan dan risiko terhadap return saham perusahaan sektor consumer goods di bursa efek indonesia periode 2007-2011, https://media.neliti.com/media/publications/186347-ID-pengaruh-kinerja-keuangan-dan-risiko-ter.pdf, (Accessed Mar, 10, 2019)
[4]. Desmaniarti, T. Effendi, R. Wijaya, T. 2016. Analisis Fundamental dan Analisi teknikal Dalam Menilai Investasi Saham Syariah Yang Tercatat di Bursa Efek Indonesia Periode 2015-2016, http://eprints.mdp.ac.id/2111/1/Jurnal-2013200078.pdf, (Accessed Jan, 10, 2019).
[5]. Deswanto. 2018. Association Between Environmental Disclosures With Financial Performance, Environmental Performance, and Firm Value, https://doi.org/10.1108/SRJ-01-2017-0005 (Accessed Jul 16, 2018)
[6]. Fraser. Lyn M dan Aileen Ormiston. 2008. Memahami Laporan Keuangan, PT. Indeks, Indonesia.
[7]. Halim, A. 2005. Analisis Investasi, Edisi ke-2. Jakarta : Salemba empat
[8]. Halim, A. 2015. Analisis Investasi di Aset Keuangan. Jakarta : Mitra Wacana Media
[9]. Kiyosaki, R, T. Trump, D, J. 2007. Why We Want You To Be Rich. United state : Rich Press : 100-101
[10]. Maryyam . 2016. Impact of Firms' Performance on Stock Returns (Evidence from Listed Companies of FTSE-100 Index London, U), https://journalofbusiness.org/index.php/GJMBR/article/view/1961, (Accessed Mei, 19, 2018)
[11]. Pamadanu 2013. Pengaruh profitabilitas dan nilai perusahaan terhadap return saham, http://ejournal.unp.ac.id/students/index.php/mnj/index, (Accessed Apr, 04, 2018)
[12]. Putri, H, D. 2015. Pengaruh Kinerja Keuangan terhadap nilai perusahaan dengan pengungkapan corporate social responsibility dan good corporate governance sebagai variabel pemoderasi : studi pada perusahaan manufaktur di Indonesia periode 2011-2013, http://etheses.uin-malang.ac.id/1166/, (Accessed Apr, 04, 2018)
[13]. Sartono, A. 2010. Manajemen Keuangan Teori dan Aplikasi. Yogyakarta: BPFE
[14]. Sugiyono, 2014, Metodelogi Penelitian Kuantitatif, Kualitatif Dan R&D. (Bandung: Alfabeta)
[15]. Tandelilin, E. 2010. Portofolio dan Investasi : Teori dan Aplikasi. Yogyakarta: Konisius

Abstract:
This study aims to determine the direct effect of financial performance using DuPont models on stock returns and the indirect effects of financial performance with DuPont models on stock returns through firm value. The total sample in this study consisted of 303 data obtained from 117 manufacturing companies that met the criteria for the study sample. This research uses panel data paths in analyzing data. The results showed that 1) financial performance does not directly and significantly affect stock returns, 2) financial performance has a direct and significant effect on firm value, 3) firm value has a direct and significant effect on stock returns, 4) influential financial performance indirect to stock returns through company value. The results of the research show that financial performance in influencing stock returns is better through firm value than the direct effect of financial performance on stock returns.