The Effect of Micro economic Variables with Interest Rate as Moderating Variables on the Return of Stock Manufacturing Companies in Indonesian Stock Exchange

  • Herry Hutabarat Universitas Bunda Mulia, Jakarta
Keywords: Microeconomicvariables,interestrates,stockreturns.

Abstract

Theperiod2014to2018isaverygoodperiodforinvestinginsharesontheIndonesiaStockExchange(IDX).Politicalconditionsarerelativelystableandconducive,supportthebusinessventurestoproducegoodperformanceandintheendprovidehighstockreturns.Fromtheresearchsampleof21manufacturingcompanies(basicandchemicalindustries,variousindustriesandconsumergoodsindustries),todeterminetheeffectofmicroeconomicsonstockreturns,anaveragestockreturn(RTS)was9.5%andthehighestwas140.83%;positiveeconomicvalueadded(EVA)anaverageofRp.497.7billionandthehighestwasRp.3.452billion;operatingcashflow(OCF)anaverageofRp.2.241billion,andthehighestwasRp.1,748billion;earningpershare(EPS)averagedRp.296.25andthehighestwasRp.1,211;returnonequity(ROE)anaverageof14.87%andthehighestis26.40%;returnonrevenue(ROR)withanaverageof9.92%andthehighest32.74%;interest(INT)wasrelativelystablewithanaverageof4.24%.Fromquantitativetesting,todeterminetheeffectofmicroeconomicswiththeindependentvariablesEVA,OCF,EPS,ROEandRORonthedependentvariableRTS;partialtestingisonlytheindependentvariableROEhasasignificanteffectonthedependentvariableRTS.WhilethesimultaneoustestorFtest,theindependentvariablestogether,haveasignificanteffectonthedependentvariablestockreturns(RTS).FurthertestingtodeterminetheeffectofmicroeconomicswithindependentvariablesEVA,OCF,EPS,ROEandRORonthedependentvariableRTS,withmacroeconomicproxybyinterestrates(interest/INT)asamoderatingvariable,onlytheindependentvariableROEtogetherwiththevariablemoderationofINTwhichhasasignificanteffect

Published
2020-08-27
How to Cite
Herry Hutabarat. (2020). The Effect of Micro economic Variables with Interest Rate as Moderating Variables on the Return of Stock Manufacturing Companies in Indonesian Stock Exchange. Prosiding ICSMR, 1(1), 286-298. Retrieved from http://conference.loupiasconference.org/index.php/ICSMR/article/view/110