Analisis Pengaruh Kinerja Keuangan Terhadap Return Saham Perusahaan BUMN yang Terdaftar di BEI Periode 2012-2015

Abstract

This study is conducted to examine the effect of financial performance on stock returns on State-Owned Enterprises in Indonesia Stock Exchange in 2012, 2013, 2014, and 2015. Financial performance is measured using four financial ratios like Current Ratios (CR), Debt to Equity Ratio (DER), Total Assets Turnover (TATO), and Return on Equity (ROE). Sampling is based on purposive sampling method and 14 State-Owned Enterprises in Indonesia Stock Exchange in 2012, 2013, 2014, and 2015 are used as sample. Data analysis using doubled linear regression. F test results indicate that the financial performance using CR , DER, TATO, and ROE have simultant effect on stock return. T test results indicate that only DER has significant positive effect on stock return.