INVESTMENT RISK, INVESTMENT OPPORTUNITY SET DAN RETURN SAHAM

Nuke Yusma, Holiawati Holiawati

Abstract


The purpose of this study was to determine the effect of investment risk and Investment Opportunity Set on stock returns in Manufacturing Companies in the Industrial Sector of Consumer Goods Listed on the Indonesia Stock Exchange 2013-2017.  This type of research is quantitative associative, namely to determine the relationship of two or more variables in this study using quantitative data or data in the form of numerical or numeric. The type of data used is secondary data, namely data obtained from IDX and PT Pefindo. The sampling technique was using purposive sampling technique with certain criteria, so that 58 samples were obtained. The method of data analysis uses multiple regression analysis and is accompanied by a statistical descriptive test, classic assumption test, hypothesis test (t test and F test). The results of the study state that partially investment risk proxied by market risk (beta) has no effect and is not significant on stock returns and Investment The Opportunity Set proxied with MBVA has an effect and significant on stock returns. Simultaneously investment risk and Investment Opportunity Set have an effect and significant to stock returns


Keywords


Investment Risk; Investment Opportunity Set; Stock Return

Full Text:

PDF

References


Agustina, Islahuddin, dan Arfan Muhammad. (2015). Pengaruh Set Peluang Investasi dan Financial Leverage Terhadap Return Saham yang di Mediasi Oleh Manajemen Laba. Jurnal Magister Akuntansi Pascasarjana Universitas Syiah Kuala Banda Aceh, Vol. 4, No. 3, Hal. 27- 38.

Ali Herni dan Rodoni Ahmad. (2014). Manajemen Keuangan Modern, Mitra Wacana Media, Jakarta, 2014.

Aisyah Maulyantin. (2018). Pengaruh Profitabilitas, Kepemilikan Manajerial, Pertumbuhan Perusahaan, Efektivitas Usaha, dan Investment Opportunity Set Terhadap Kebijakan Dividen. JOM FEB, Faculty of Economic Riau University, Volume 1, Edisi 1.

Arna Suryani, Marissa Putriana, dan Susi Artati. (2018). Effect of Investment Opportunity Set (IOS) Through Business Risk on Stock Return in Pharmaceutical Companies Listed in Indonesia Srock Exchange, Department of Magister Management, Faculty of Economics, Batanghari University, Proceeding International Seminar on Accounting for Society Bachelor Degree of Accounting Study Program, Faculty of Economy Universitas Pamulang Auditorium Universitas Pamulang, March, 21st, 2018.

Aryani Indriastuti dan Zumrotun. (2017). Pengaruh Volume Perdagangan, Kurs dan iRisiko Pasar Terhadap Return Saham,, Jurnal STIE Semarang, Vol.9, No.1.

Astried Cahya Rembani. (2014). Pengaruh Nilai Perusahaan, Kinerja Perusahaan, dan Kesempatan Bertumbuh Perusahaan Terhadap Return Saham. Fakultas Ekonomi Universitas Pasundan.

Benny Prawiranegara. (2015). Pengaruh Investment Opportunity Set Terhadap Return Saham, Jurnal Wawasan dan Riset Akuntansi Fakultas Ekonomi Universitas Galuh Ciamis, Vol.2, No.2, Hal. 89-102.

Christopher Gunawan. (2016). Hubungan Laba Akuntansi, Investment Opportunity Set, Likuiditas dengan Kebijakan Dividen. Skripsi Fakultas Ekonomi, Unversitas Sanata Dharma, Yogyakarta.

Damodar N., Gujarati dan Dawn C. Porter. (2012). Dasar-dasar Ekonometrika, Buku Kedua, Edisi Kelima, Terjemahan Raden Carlos Mangunsong (penj.), Salemba Empat, Jakarta.

Dini Prasetyani. (2016). Pengaruh Risiko Investasi Terhadap Return Saham. Jurnal Profita Edisi 4 Universitas Negeri Yogyakarta.

Elnikawati. (2014). Pengaruh Investment Opportunity Set Terhadap Return Saham. Jurnal Ilmiah Universitas Tanjung Ilmiah, Vol.3, No.4.

Eugene f Brigham and Joel F houston. (2010). Dasar-Dasar Manajemen Keuangan (Essentials of financial management), Buku Satu, Edisi Kesebelas, Salemba Empat, Jakarta.

Grace Ruth Benedicta and Herlina Lusmeida.(2015). The Influence Of Investment Oppoertunity Set (IOS) and Profitability Towards Stock Return On Property And Real Estate Firms In Indonesia Stock Exchange”, The 3rd International Multidisciplinary Conference Social Sciences (IMCoSS), Bandar Lampung University.

Gudono. (2016) Analisis Data Multivariat, Cetakan kedua, BPFE-Yogyakarta, Yogyakarta.

Hery. (2014) Analisis Kinerja Manajemen,IGrasindo, Jakarta.

Hikma NiaR. (2015). Analisis Risiko Investasi Terhadap Return Saham Tahunan AKMEN Jurnal Ilmiah, Vol.12 No.3.

I Made Sudana. (2015) Teori dan praktik, manajemen keuangan perusahaan, Edisi Kedua, Erlangga.

Irham Fahmi. (2014). Pengantar Manajemen Keuanagn Teori dan Soal Jawab, Alfabeta, Bandung.

James c. Van Horne dan John M. Wachowicz. (2007). Fundamentals of Financial management (prinsip-prinsip manajemen keuangan), Buku Kedua, Edisi Kedua belas, Salemba Empat, Jakarta.

Jogiyanto Hartono. (2016). Teori Portofolio dan Analisis Investasi, Edisi Kesepuluh, Cetakan kedua, BPFE-Yogyakarta.

Kurnia Dwi Priyatma and Holiawati (2015) Pengaruh Good Corporate Governance, Ukuran Perusahaan, dan Leverage Terhadap Manajemen Laba. Jurnal Ilmiah Universitas pamulang, Jurnal Ilmu Akuntansi Vol 3. No 1.

Lina Apriyani. (2016) Pengaruh Risiko Investasi, Investment Opportunity Set dan Firm Size Terhadap Return Saham pada Perusahaan yang Tergabung Dalam Indeks Kompas 100 di BEI”, Jurnal Manajemen Fakultas Ekonomi UNTAN, Vol. 5, No. 4.

Lukas Setia Atmaja, (2008) Teori dan praktik, manajemen keuangan, Edisi Kesatu, ANDI, Yogyakarta.

Made Artaya, I.B.A Purbawangsa, dan L.G Sri Artini. (2014) Pengaruh Faktor Ekonomi Makro, Risiko Investasi dan Kinerja keuangan Terhadap Return Saham Perusahaan di Bursa Efek Indonesia, E-Jurnal Ekonomi dan Bisnis Universitas Udayana, Vol .3, No.12.

Meyga Triana E Sihaloho. (2017) Pengaruh Risiko Investasi dan Ukuran Perusahaan Terhadap Return Saham. Skripsi Fakultas Ilmu Sosial Dan Ilmu Politik, Universitas Lampung.

Mudrajat Kuncoro.(2013). Metode Riset Untuk Bisnis dan Ekonomi, Edisi Keempat, Erlangga, Jakarta.

Muslim A. Djalil, Mulia Saputra, dan Aris Munandar. (2017) Influence of Investment Opportunity Set, Financial Leverage and Firm Size on Real Activity Manipulation and Its Implication on Stock Return. Journal of Resources Development and Management Syiah Kuala University Banda Aceh, An International Peer-reviewed Journal, Vol.29, 2017.

Musthafa. (2017) Manajemen keuangan, Edisi Satu. ANDI, Yogyakarta.

Reza Fahlevi, (2016) Pengaruh Investment Opportunity Set, Voluntary Disclousure, Leverage, dan Likuiditas Terhadap Kualitas, Skripsi Fakultas Ekonomi dan Bisnis, Universitas Islam Negeri Syarif Hidayatullah, Jakarta.

Rina Lutfitasari, (2016). Pengaruh Ukuran Perusahaan dan Leverage Terhadap Profitabilitas dan Implikasinya Terhadap Nilai Perusahaan, Skripsi. Fakultas Ekonomi Universitas Pamulang.

Rista Nurjanah. (2018). Peran Corporate Governance Sebagai Variabel Moderating pada Pengaruh Faktor Keuangan Terhadap Manajemen Laba Skripsi Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Negeri Surakarta.

Sugiarto. (2017). Metode Penelitian Bisnis, IIIIIEdisi Kesatu, ANDI Yogyakarta.

Sugiyono.(2017). Metode Penelitian Kuantitatif, Kualitatif, dan R&D”, Cetakan ke 23, Alfabeta, Bandung.

Sunardi dan Holiawati.( 2016). Pengaruh Corporate Governance Perception Index (CGPI) dan Opini Audit Terhadap Harga. Jurnal Ilmiah Universitas pamulang, jurnal ilmu akuntansi vol 4. No 1.

Tumpal Manik. (2014). Analisis Pengaruh Struktur Modal dan Investment Opportunity Set (IOS) Terhadap Keputusan Investasi dan Harga Saham Melalui Analisis Jalur. Seminar Nasional dan Call for Papers Dies Natalis UNS XXXVIII, Fakultas Ekonomi Universitas Maritim Raja Ali Haji (UMRAH).

www.idberitasatu.com

www.idx.com

www.pefindo.com

www.sahamok.com

www.seputarforex.com

www.yahoofinance.com




DOI: http://dx.doi.org/10.32493/JABI.v2i3.y2019.p393-406

Refbacks

  • There are currently no refbacks.


Copyright (c) 2019 Program Studi S1 Akuntansi Universitas Pamulang

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

S1 Accounting Department
Universitas Pamulang
Jalan Surya Kencana 1 Pamulang Barat
Pamulang Kota Tangerang Selatan Banten 15417
Phone : 021-7412566
Email : jurnaljabi.unpam.ac.id

 


 

 

Lisensi Creative Commons
Ciptaan disebarluaskan di bawah Lisensi Creative Commons Atribusi 4.0 Internasional.