ANALISIS PENGARUH PERUBAHAN LABA, DEBT TO EQUITY RATIO (DER), DAN UKURAN PERUSAHAAN TERHADAP RETURN SAHAM PADA PERUSAHAAN MAKANAN DAN MINUMAN (FOOD AND BEVERAGE) YANG GO PUBLIK DI BURSA EFEK INDONESIA (BEI)

Abstract

This study aimed to observe the effect of changes in annual profit tehadap stock returns and debt policy (debt to equity ratio) on stock returns that allegedly different treatment between a large company with a small company at the time of publication of the financial statements. The sample used in this study was 17 food and beverage companies uring the period 2000 to 2008. Data was obtained from company financial reports and stock prices that have been published. The results of multiple regression analysis showed that the variables change in annual earnings, debt to equity ratio and the size of the company does not have significant effect on stock returns (F test). The test using t tests produce variable annual earnings changes have no significant effect on stock returns. This shows that the income information changes have no effect on the result of the stock returns in the capital markets (BEI). While variable debt to equity ratio and the size of the company turned out to have no effect on stock returns. This means that there are factors other than in this study the effect on stock returns and investors do not differentiate in the treatment of the financial statements of companies large and small are equal, no special treatment between the two.