PENGARUH PROFITABILITAS DAN VARIABEL MAKROEKONOMI TERHADAP RETURN SAHAM PERUSAHAAN PERBANKAN DAN LEMBAGA KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA
Abstract
The value of a company can be measured by stock return generated by a
company . Stock return is the yield given by go public companies to the investors
who have invested in the company . The purpose of this study was to analyze the
effect of profitability and macroeconomic variables include inflation , interest
rates, and exchange rates on stock returns of banking companies and financial
institutions listed on the Stock Exchange in 2009-2012. The number of companies
studied as many as 34 companies. The sampling technique used was nonprobability
sampling non probability sampling.
The results showed that the stock returns of banking companies and
financial institutions may be affected by profitability and the exchange rate .The
results also showed that the level of interest rates and inflation have no effect on
stock returns . This is because the inflation rate in Indonesia is not among the high
inflation rate and also investors in Indonesia are the type of investor who like to
do short-term profit taking in order to get a bigger profits when investing in stocks
market rather than investing in the bank.