PENGARUH KINERJA KEUANGAN DAN GOOD CORPORATE GOVERNANCE TERHADAP RETURN SAHAM

Abstract

This research examined the effect of financial performance and Good Corporate Governance on the stock return of Food and Beverage companies listed on the Indonesia Stock Exchange (IDX) during 2019-2021. The independent variables were financial performance which was measured by Current Ratio, Return on Asset, and Return On Equity; and Good Corporate Governance which was measured by the Audit Committee. The dependent variable was measured by stock return. The research was quantitative. The population was Food and Beverage companies listed on IDX during 2019-2021. Moreover, the data collection technique used purposive sampling, in which the sample was based on the criteria given. In line with that, there were 20 samples during 3 years. Therefore, in total there were 60 samples. Furthermore, the data were secondary in form of financial statements and annual reports from IDX. Since the data was not distributed normally, outlier was used. Therefore, the data became 42. Additionally, the data analysis technique used multiple linear regression with SPSS. The result concluded that Current Ratio as well as Return On Equity had a negative effect on stock return. However, Return On Asset had a positive effect on stock return. In contrast, Good Corporate Governance did not affect stock return.