PENGARUH INVESTMENT OPPORTUNITY SET (IOS) DAN KEPEMILIKAN MANAJERIAL TERHADAP RETURN SAHAM

Abstract

This research aims to determine the influence of Investment Opportunity Set (IOS) and managerial ownership of stock returns. This research was conducted on banking companies which is listed in Indonesia Stock Exchange (IDX) in 2012 until 2016. Sample in this research is obtained by using purposive sampling technique and based on predetermined criterion hence obtained the sample as much as 35 per year so total data as much as 175 firm years. The analytical method that been used is multiple linear regression analysis method with using SPSS (Statistical Product and Service Solutions) application tool. Dependent variable in this research is stock return and independent variable that is Investment Opportunity set (IOS) consisting of Market to Book Value of Asset (MBVA), Market to Book Value of Equity (MBVE), Earning Per Share (EPS), and Capital Expenditure to Book Value of Assets (CAPBVA) and Managerial Ownership. The results showed that the variables MBVA and EPS have a positive and significant influence on stock returns, MBVE has a negative and insignificant influence on stock returns, while CAPBVA and managerial ownership has a positive and insignificant influence on stock returns.
Keywords: Investment opportunity set (IOS), managerial ownership on stock return.