PENGARUH KINERJA KEUANGAN, STRUKTUR MODAL DAN UKURAN PERUSAHAAN TERHADAP RETURN SAHAM PERUSAHAAN YANG MELAKUKAN AKUISISI

Abstract

This research aimed to find out the financial performance, capital strcture and firm size on the stock return at companies who had acquisition that were listed in indonesia Stock Exchange (IDX) periods of 2015-2018. The research variable was proxy with Current Ratio (CR), Return On Asset (ROA), Return On Equity (ROE), Debt to Equity Ratio (DER) also size. This research was quantitative with secondary data in the form of financial statement. The population of this research acquisitions listed on Indonesia Stock Exchange (IDX) in the periods of 2015-2018. Meanwhile, the data source came from Indonesia Stock Exchange (IDX). Furthermore, the sample collection technique used the purposive sampling technique, therefore it obtained 72 data from 18 companies. In addition, the data analysis technique of this research used multiple linear regressions with the SPSS program 23 version. The result of this research concluded that Current Ratio (CR), Debt to Equity Ratio (DER) and size did not affect the stock return, Return On Equity (ROE) had a negative effect on the stock return while Return On Asset (ROA) had a positive effect on the company’s stock return who had acquisition listed in Indonesia Stock Exchange (IDX) in the periods of 2015-2018.
Keywords: current ratio, return on asset, return on equity, debt to equity ratio, size, stock return