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Financial Performance: Is it Managerial Capability That Investors Respond to?
Abstract
This study aims to analyze the influence of Current Ratio, Return on Equity, Debt Equity Ratio, Net Profit Margin, and Earning per Share to Stock Return on stock return in food and beverage industry listed in the Indonesian Stock Exchange. The population in this study were all which amounted to 54 companies. The sampling technique used was purposive sampling. The number of samples of 10 companies with period 2016-2019. The data analysis technique used is multiple linear regression with event study approach. The results explain Current Ratio and Net Profit Margin after the publication of financial reports had no effect on stock returns. Meanwhile, the Return on Equity in windows 7 and 11 is negative and significant to stock returns. However, ROE on window 15 has no effect on stock returns. Debt Equity Ratio on 7 windows has a positive and significant effect on stock returns, however, the 11 and 15 windows have no effect on stock returns, and Earning per Share has a positive and significant effect on stock returns
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DOI: https://doi.org/10.26905/afr.v6i1.9720
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