Determining Shares’ Internal Return: Fifty Leading Large-Cap Companies

Research Journal of Finance and Accounting, Vol.9, No.14, 2018

8 Pages Posted: 15 Jul 2019

See all articles by Zulkifli

Zulkifli

Universitas Mercu Buana - Fakultas Ekonomi dan Bisnis

Caturida Meiwanto Doktoralina

Fakultas Ekonomi dan Bisnis, Universitas Mercu Buana

Marsyaf

Universitas Mercu Buana - Fakultas Ekonomi dan Bisnis

Nurhasanah

Fakultas Ekonomi dan Bisnis, Universitas Mercu Buana

Date Written: July 31, 2018

Abstract

This study aims to test and analyse the determinants of internal stock returns with annual data observation used from 2014–2015. Following are the types of quantitative research employed in this study. The population of 41 companies with their capitalisation is listed on the Indonesia Stock Exchange (IDX), and their capitalisations report have been consistent for two years. The non-probability sampling technique is purposive sampling. A data analysis using a regression regarding the fixed-panel effect has an R-squared value of 71.6% compared with other models. The results showed that the return on assets, return on equity, debt-to-equity ratio, firm size and growth simultaneously and significantly influence stock returns. Partially, all independent variables have a positive and significant effect on stock returns. Hence, it is advisable to add external factor variables, using sample companies within other industries.

Keywords: Return on Asset (ROA), Return on Equity (ROE), Debt to Equity Ratio (DER), firm size, growth

JEL Classification: G30; G32

Suggested Citation

Zulkifli, Zulkifli and Doktoralina, Caturida Meiwanto and Syamsuri, Marsyaf and nurhasanah, nurhasanah, Determining Shares’ Internal Return: Fifty Leading Large-Cap Companies (July 31, 2018). Research Journal of Finance and Accounting, Vol.9, No.14, 2018 , Available at SSRN: https://ssrn.com/abstract=3419450 or http://dx.doi.org/10.2139/ssrn.3419450

Zulkifli Zulkifli (Contact Author)

Universitas Mercu Buana - Fakultas Ekonomi dan Bisnis ( email )

Jl Meruya Selatan
Kembangan
Jakarta Barat, RI DKI Jakarta 11650
Indonesia

Caturida Meiwanto Doktoralina

Fakultas Ekonomi dan Bisnis, Universitas Mercu Buana ( email )

Jl. Meruya Selatan
Kembangan
Jakarta Barat, DKI Jakarta 11650
Indonesia
+62(021)5840816 (Phone)
+62(021)5840813 (Fax)

HOME PAGE: http://mercubuana.ac.id

Marsyaf Syamsuri

Universitas Mercu Buana - Fakultas Ekonomi dan Bisnis ( email )

Jl Meruya Selatan
Kembangan
Jakarta Barat, RI DKI Jakarta 11650
Indonesia

Nurhasanah Nurhasanah

Fakultas Ekonomi dan Bisnis, Universitas Mercu Buana ( email )

Jl Meruya Selatan
Kembangan
Jakarta Barat, ID DKI Jakarta 11650
Indonesia
5840816 (Phone)
5840813 (Fax)

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