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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
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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.
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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.

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