Analisis Laba atas Ekuitas dan Inflasi terhadap Stock Price
Abstract
The phenomenon of several companies experiencing stock price fluctuations can affect inflation and return on equity. The research objective is to implement the analysis of return on equity and inflation in stock prices. The population in the survey was 49 consumer goods industries in 2015-2019. Samples were carried out by purposive sampling for 10 business units. Research data analyzers with the help of self-testing and concurrent testing. The joint test results show the impact of return on equity, inflation is not significant. Meanwhile, the return on equity and inflation simultaneously have an impact on share prices.
Keywords: Return On Equity; Inflation; Stock Price.
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References
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Suarka, S. W., & Wiagustini, N. L. P. (2016). Pengaruh Inflasi, Profitabilitas, Struktur Modal, Dan Earning Per Share Terhadap Harga Saham Perusahaan Consumer Goods. E-Jurnal Manajemen, 8(6), 3930–3958. https://doi.org/ISSN : 2302-8912, https://doi.org/10.24843/EJMUNUD.2019.v08.i06.p23
Sugiyono. (2014). Metode Penelitian Kuantitatif, Kualitatif dan R&D (Edisi 21). Alfabeta, ISBN: 1729-2390.
Susanto, B. (2016). Pengaruh Inflasi, Bunga Dan Nilai Tukar Terhadap Harga Saham (Studi Pada : Perusahaan
Sektor Properti Dan Real Estate Tercatat BEI). Jurnal Aset (Jurnal Akuntansi Riset), 7(1), 29–38. https://doi.org/ISSN: 2086-2563
Wagner, P. P. N. (2019). Pricing Equity-Bond Covariance Risk: Between Flight-To-Quality And Fear-Of-Missing-Out. International Review of Financial Analysis, 1(5), 12–19. https://doi.org/https://doi.org/10.1016/j.jedc.2020.104009
Wagner, P. P. N. (2020). Does foreign exchange risk matter to equity research analysts when forecasting stock prices, Evidence from U.S. firms. International Review of Financial Analysis, 72(1), 1–11. https://doi.org/https://www.sciencedirect.com/science/article/abs/pii/S105752192030212X
Zein, (2019). Implementasi Current Return On Asset dan Inflasi Pada Stock Price Di Berberbagi Unit Perusahaan. Jurnal Manajemen dan Bisnis. 6(9), 30–40 ISSN:2218-7654.
Citra, G. (2017). Metode Riset (A. Suslia (ed.); Edisi sepuluh). Alfabeta.
Dewi, A. D. I. R., & Artini, L. G. S. A. (2016). Pengaruh Suku Bunga SBI, Inflasi, Dan Fundamental Perusahaan Terhadap Harga Saham Indeks LQ-45 Di BEI. E-Jurnal Manajemen Unud, 5(4), 2484–2510.
Dino, K. (2011). Dasar Saham (Edisi 2). Alfabeta.
Edi, (2018). Dampak ROE Pada Saham. Jurnal Manajemen, 5(1), 105–114.
Fathonah, (2015). Investasi. (M. Muhamad (ed.); Edisi 3). Erlangga.
Fenny, (2016). Dasar Investasi (S. Idris (ed.); Kelima). Erlangga.
Ghozali, I. (2016). Aplikasi Analisis Multivariate IBM SPSS 23 (VIII). Badan Penerbit Universitas Diponegoro.
Gunawan, (2019). Pasar Modal (Cetakan ketujuh). Alfabeta.
Hendry, (2017). Dampak Stock Price. Jurnal Auditing, 3(5), 5–18. https://journal.untar.ac.id/index.php/jmieb/article/view/412
Ima Andriyani, C. A. (2019). Pengaruh Suku Bunga, Inflasi, Nilai Buku Terhadap Harga Saham Perusahaan Indeks LQ45. Jurnal Ilmiah Orasi Bisnis, 15(1), 12–21. https://doi.org/ISSN 2085-1375
Johnson, J. D. C. M. G. S. A. (2020). Short-horizon incentives and stock price inflation, Consistent with theoretical predictions. Journal of Corporate Finance, 65(9), 36–42.
https://doi.org/https://doi.org/10.1016/j.jcorpfin.2019.101501
Kannadhasan, D. D. M. (2020). The asymmetric oil price and policy uncertainty shock exposure of emerging
market sectoral equity returns: A quantile regression approach. International Review of Economics & Finance, 2(6), 12–19. https://doi.org/https://doi.org/10.1016/j.iref.2020.06.013
Kodongo, K. O. S. M. O. (2020). Insider trading laws and price informativeness in emerging stock markets: The South African case, Importantly. Emerging Markets Review, 43(1), 2–12. https://doi.org/https://doi.org/10.1016/j.ememar.2020.100690
Kumar Tiwarid Shawkat Hammoudeh, N. T. G. G. A. (2020). Effects of Price of Gold on Bombay Stock Exchange Sectoral Indices: New Evidence for Portfolio Risk Management. Research in International Business and Finance, 55(1), 11–19. https://doi.org/https://doi.org/10.1016/j.ribaf.2020.101316
Manowska, M. B. F. D. F. R. M. S. (2020). Time-varying inflation risk and stock returns. Journal of Financial Economics, 136(1), 1–10. https://doi.org/https://doi.org/10.1016/j.jfineco.2019.09.012
Mohamed, S. A. A. B. C. X. C. A. (2020). Why do firms manage their stock price levels. Journal of International Financial Markets, Institutions and Money, 67(1), 34–39.
https://doi.org/https://doi.org/10.1016/j.intfin.2020.101220
Naoui, I. C. K. G. bAngham B. B. cKamel. (2020). Modelling the nonlinear relationship between oil prices, stock markets. Research in International Business and Finance, 2(4), 5–13.
https://doi.org/https://doi.org/10.1016/j.ribaf.2020.101274
Nikolaos Anton akakisa, Rangan Guptab Aviral, K. T. (2017). Has the correlation of inflation and stock prices changed in the United States over the last two centuries. Research in International Business and Finance, 20(3), 1–12. https://doi.org/https://doi.org/10.1016/j.ribaf.2017.04.005
Ningsih, M. M., & Waspada, I. (2018). Pengaruh Bi Rate Dan Inflasi Terhadap Indeks Harga Saham Gabungan ( Studi Pada Indeks Properti , Real Estate , Dan Building Construction , di BEI Periode 2013 - 2017 ) The Effect Of Bi Rate And Inflation On Composite. 3(5), 247–258.
Nonejad, N. (2019). Crude oil price volatility and equity return predictability: A comparative out-of-sample study. International Review of Financial Analysis, 71(1), 12–18. https://doi.org/https://doi.org/10.1016/j.irfa.2020.101521
Nonejad, N. (2020). A comprehensive empirical analysis of the predictive impact of the price of crude oil on aggregate equity return volatility. Journal of Commodity Markets, 20(3), 1–9. https://doi.org/https://www.sciencedirect.com/science/article/abs/pii/S2405851319300868
Ogboghro, V. I. (2017). The Impart of Inflation and Exchange Rates on Stock Prices in Nigeria. Account and Financial Management Journal, 2(6), 748–757. https://doi.org/10.18535/afmj/v2i6.01
Prananingrum, D. K., Muthalib, D. A., Irfandy, M., & Rohansyah, M. (2018). Effects of Return on Asset , Return On Equity , Earning Per Share on Corporate Value. The International Journal of Engineering and Science (IJES), 7(3 Ver.I), 6–14. https://doi.org/10.9790/1813-0703010614
Putu, W. G. (2019). Pengaruh Inflasi, Nilai Tukar Rupiah, Suku Bunga SBI pada Indeks Harga Saham Gabungan di BEI. Jurnal Akuansi Universitas Udaya, 2(1), 421–435.
S.Warr, S. vasan K. murthy D. P. R. (2018). Inflation and equity mutual fund flows. Journal of Financial Markets, 1(4), 52–69. https://doi.org/https://doi.org/10.1016/j.finmar.2017.12.001
Stotz, O. (2019). The response of equity prices to monetary policy announcements: Decomposing the announcement day return into cash-flow news. Journal of International Money and Finance, 99(5), 2–11. https://doi.org/https://doi.org/10.1016/j.jimonfin.2019.102069Get rights and content
Suarka, S. W., & Wiagustini, N. L. P. (2016). Pengaruh Inflasi, Profitabilitas, Struktur Modal, Dan Earning Per Share Terhadap Harga Saham Perusahaan Consumer Goods. E-Jurnal Manajemen, 8(6), 3930–3958. https://doi.org/ISSN : 2302-8912, https://doi.org/10.24843/EJMUNUD.2019.v08.i06.p23
Sugiyono. (2014). Metode Penelitian Kuantitatif, Kualitatif dan R&D (Edisi 21). Alfabeta, ISBN: 1729-2390.
Susanto, B. (2016). Pengaruh Inflasi, Bunga Dan Nilai Tukar Terhadap Harga Saham (Studi Pada : Perusahaan
Sektor Properti Dan Real Estate Tercatat BEI). Jurnal Aset (Jurnal Akuntansi Riset), 7(1), 29–38. https://doi.org/ISSN: 2086-2563
Wagner, P. P. N. (2019). Pricing Equity-Bond Covariance Risk: Between Flight-To-Quality And Fear-Of-Missing-Out. International Review of Financial Analysis, 1(5), 12–19. https://doi.org/https://doi.org/10.1016/j.jedc.2020.104009
Wagner, P. P. N. (2020). Does foreign exchange risk matter to equity research analysts when forecasting stock prices, Evidence from U.S. firms. International Review of Financial Analysis, 72(1), 1–11. https://doi.org/https://www.sciencedirect.com/science/article/abs/pii/S105752192030212X
Zein, (2019). Implementasi Current Return On Asset dan Inflasi Pada Stock Price Di Berberbagi Unit Perusahaan. Jurnal Manajemen dan Bisnis. 6(9), 30–40 ISSN:2218-7654.
Published
2021-04-25
How to Cite
EFRIYENTY, Dian.
Analisis Laba atas Ekuitas dan Inflasi terhadap Stock Price.
E-Jurnal Akuntansi, [S.l.], v. 31, n. 4, p. 976-984, apr. 2021.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/68285>. Date accessed: 25 apr. 2024.
doi: https://doi.org/10.24843/EJA.2021.v31.i04.p14.
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