Pengaruh Earning Per Share Terhadap Return Saham Sektor Telekomunikasi

Aswin Akbar; Nurhayati Nurhayati

doi:10.35448/jmb.v17i2.34785

Pengaruh Earning Per Share Terhadap Return Saham Sektor Telekomunikasi

Aswin Akbar, Nurhayati Nurhayati

Abstract

This study aims to analyze the effect of Earning Per Share (EPS) on stock returns in the telecommunications sector listed on the Indonesia Stock Exchange (IDX) during the 2014–2023 period. EPS is a key financial performance indicator theoretically believed to influence investment decisions and stock price movements, yet previous studies have yielded inconsistent results. Using a quantitative approach and panel data regression method, the study analyzed 60 observations from 6 purposively selected companies. Model selection was conducted through Chow, Hausman, and Lagrange Multiplier tests, which indicated that the Random Effect Model (REM) was most appropriate. The regression results revealed that EPS had no significant effect on stock returns (p = 0.5470; R² = 1.08%). These findings suggest that EPS is not a primary predictor of stock returns in the telecommunications sector. Therefore, investors are encouraged to consider other fundamental indicators and sector-specific dynamics when making investment decisions.

Keywords

Earning Per Share; Return Saham; Regresi Panel; Random Effect Model; Sector Telekomunikasi

Full Text:

PDF (Indonesian)

References

Baltagi, B. H. (2021a). Econometric Analysis Of Panel Data. Cham: Springer International Publishing. Https://Doi.Org/10.1007/978-3-030-53953-5

Baltagi, B. H. (2021b). Econometric Analysis Of Panel Data. Cham: Springer International Publishing. Https://Doi.Org/10.1007/978-3-030-53953-5

Borolla, J. D., & Pelmelay, K. E. (2021). PENGARUH EARNING PER SHARE DAN PRICE EARNING RATIO TERHADAP RETURN SAHAM. Jurnal Keuangan Dan Bisnis, 19(1), 88–104. Https://Doi.Org/10.32524/Jkb.V19i1.108

Chandra, A. A., & Darmayanti, N. P. A. (2022). PENGARUH PROFITABILITAS, LIKUIDITAS, PENILAIAN PASAR, DAN UKURAN PERUSAHAAN TERHADAP RETURN SAHAM. E-Jurnal Manajemen Universitas Udayana, 11(2), 358. Https://Doi.Org/10.24843/EJMUNUD.2022.V11.I02.P08

Greene, W. H. (2012). Econometric Analysis (7th Ed.). Boston: Pearson Education.

Gujarati, D. N. , & P. D. C. (2012). Basic Econometrics (5th Ed.) (7th Ed.). Boston, MA: Pearson Education.

Husnan, S. , & P. E. (2015). Dasar-Dasar Manajemen Keuangan (7th Ed.). Yogyakarta: UPP STIM YKPN.

Kartika, C., Rudiatno, R., & Suhariningsih, L. (2020). Pengelolaan Dan Pembinaan Usaha Mikro Warung Makanan Dan Minuman Model Primitive Di Surabaya Barat. Humanism : Jurnal Pengabdian Masyarakat, 1(2). Https://Doi.Org/10.30651/Hm.V1i2.5378

Larasati, W. (2022). PENGARUH EARNING PER SHARE, DEBT TO EQUITY RATIO DAN RETURN ON EQUITY TERHADAP RETURN SAHAM. In Competitive Jurnal Akuntansi Dan Keuangan (Vol. 6).

Laulita, N. B., & Yanni, . (2022). YUME : Journal Of Management Pengaruh Return On Asset (ROA), Return On Equity (ROE), Debt To Equity Ratio (DER), Earning Per Share (EPS) Dan Net Profit Margin (NPM) Terhadap Return Saham Pada Perusahaan Yang Terdaftar Di Indeks LQ45. YUME : Journal Of Management, 5(1), 232–244. Https://Doi.Org/10.37531/Yume.Vxix.467

Mustofa, I., & Nurfadillah, M. (N.D.). Analisis Pengaruh Price Earning Ratio Dan Earning Per Share Terhadap Return Saham Pada Sub Sektor Property And Real Estate Yang Terdaftar Di BEI (Vol. 2).

Nazulaikah, F. (N.D.). Faktor Fundamental Terhadap Return Saham.

Pandaya, P., Julianti, P. D., & Suprapta, I. (2020). PENGARUH FAKTOR FUNDAMENTAL TERHADAP RETURN SAHAM. JURNAL AKUNTANSI, 9(2), 233–243. Https://Doi.Org/10.37932/Ja.V9i2.156

Pratama, R. I., Megadini, D. D., & Kusriandini, T. (2019). Effect Of Perceived Ease Of Use, Word-Of-Mouth Communication, And Brand Image On Decision To Use Lazada E-Commerce Services. International Journal Of Multicultural And Multireligious Understanding, 6(1). Https://Doi.Org/10.18415/Ijmmu.V6i1.533

Safira, L., & Budiharjo, R. (2021). Pengaruh Return On Asset, Earning Per Share, Price Earning Ratio Terhadap Return Saham. AKURASI: Jurnal Riset Akuntansi Dan Keuangan, 3(1), 57–66. Https://Doi.Org/10.36407/Akurasi.V3i1.325

Thio Lie Sha, E. R. (2020). PENGARUH EPS, PBV, PER, DAN PROFITABILITY TERHADAP RETURN SAHAM. Jurnal Paradigma Akuntansi, 2(3), 1138. Https://Doi.Org/10.24912/Jpa.V2i3.9540

DOI: http://dx.doi.org/10.35448/jmb.v17i2.34785