PENGARUH PROFITABILITAS, LEVERAGE, DAN UKURAN PERUSAHAAN TERHADAP REAKSI PASAR

  • Miftahol Anwar
  • Nur Fadjrih Asyik
Keywords: profitability, leverage, firm size, market reaction

Abstract

This research aimed to examine the effect of profitablility (ROA), leverage (DER), and firm size (SIZE) on the market reaction proxy with a stock return over the annual financial statement at property and real estate companies listed on the Indonesia Stock Exchange. The reaserch used a purposive sampling method at the property and real estate listed on Indonesia Stock Exchange (IDX) during the period of 2015-2019. Based on the determined criteria it obtained 27 samples of property and real estate companies. Furthermore, the analysis method used multiple linear regressions with the SPSS application. The result of this research used feasible test (F-test) showed that the research model was feasible to use. Meanwhile the hypothesis test (T-test) showed that profitability (ROA) had a negative effect on the market reaction with the t count was -2,351 and the significant value of 0,020. Leverage (DER) had positive effect on the market reaction with t count was 7,375 and the significant value was 0,000. Moreever, the firm size did not affect the market reaction with the T-count was 0,724 and the significant value was 0,470.
Keywords: profitability, leverage, firm size, market reaction

Published
2021-11-17