Factors affecting the return of shares of 'consumer goods' sector using company size as moderating variables
2020
Pratama, I K.K.A. | Yasa, G.W. | Wirama, D.G. | Gayatri
The purpose of this study is to obtain empirical evidence of the effect of firm and macroeconomic fundamentals on stock returns with firm size as moderating variable. The sampling method is purposive sampling. The data used is secondary data obtained from the financial statements of consumer goods companies listed on the Indonesia Stock Exchange in the 2015-2019 period. The data analysis technique used moderated regression analysis. The analysis results show that ROE and PER have a positive effect on stock returns. DER and the USD / IDR exchange rate have a negative effect on stock returns, while the BI interest rate has no effect. The firm size variable is able to strengthen the positive influence of ROE and PER on stock returns and is able to weaken the negative influence of DER and the USD / IDR exchange rate, but it is unable to moderate the BI interest rate variable.
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