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PENGARUH TINGKAT BUNGA, INFLASI, NILAI TUKAR, LEVERAGE, AKTIVITAS DAN PROFITABILITAS TERHADAP KINERJA SAHAM SEKTOR PERUSAHAAN MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA

Jurnal Manajemen ##issue.vol## 14, ##issue.no## 1 (2010)
Publisher : Tarumanagara University

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Abstract

This research aim to examine influence of the financial ratios and macroeconomic forces to the return of stock investment. These independent variables are: Return on Total Asset (ROA), Debt to Equity (DER), Net Income to Total Asset (profitability), Interest rate, Exchange Rate and Inflation rate and dependent variable is Return of Stock Investment. This research focuses on 13 food and beverage companies that listing in Indonesian Stock Exchange in 2003–2008. By multiregression analysis with using SPSS 16 showing that both of partial and simultaneous examination these independent variables influence the return of stock investment of food and beverage companies. The result showed that (1) Leverage ratio, Activity ratio and Profitability  ratio have positive influence amounting to 0,3 %, 3,1 %  and 1,8 % respectively; (2) Interest rate and Inflation rate have negative influence which reaches respectively, 125,5 % and 138,1 % and (3) Rupiah exchange rate against US dollar has no significance to Food and Beverages Stock return the Indonesian Stock Exchange(IDX) secondary market; (4) Simultaneus influence of the six independent variables are significance at  = 5 %. It can be concluded that Food and Beverages Stock Return is influenced by Interest rate, Inflation rate, Leverage ratio, Activity ratio and Profitability ratio