PENGARUH KINERJA KEUANGAN DAN KINERJA LINGKUNGAN TERHADAP RETURN SAHAM

Abstract

This research aims to examine the influence of financial performance and environmental performance on stock returns. Financial performance includes profitability ratios proxies as return on equity, liquidity ratios proxied as current ratio, solvency ratios projected as debt to equity ratio, and market value ratios proxied as earnings per share, and environmental performance as projected as PROPER (Corporate Performance Rating Program in Environmental Management). Population in this research is manufacturing company of basic industry and chemical sector which listed in the Indonesia Stock Exchange (BEI) during 2014-2016 period. The sample of this research was taken by using purposive sampling method that is based on 4 criteria that has been determined then obtained a sample of 32 companies with a total of 96 firm years. The method of analysis used in this research is multiple regression model. The results of this study indicate that two variables have a positive influence on stock return, ie return on equity (ROE) and earnings per share (EPS). While the other three variables did not have a positive influence on stock return, namely current ratio (CR), debt to equity ratio (DER), and PROPER.
Keywords: Financial Ratio, PROPER, Stock Return.