财务杠杆和流动性对良好公司治理和股票收益的影响

Aditya Laika Chandra, Ellen Rusliati
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引用次数: 2

摘要

投资者需要有关财务业绩的信息来预测股票的价格和回报。本研究旨在了解2013-2017年期间,财务杠杆和流动性对印尼证券交易所上市制造公司良好公司治理(GCG)和股票回报的影响。本研究采用描述性和验证性相结合的方法,采用目的性抽样技术测定了94个样本。使用二次数据,并通过面板数据回归模型和适度回归分析进行分析。结果表明,金融杠杆率和流动性同时对股票收益率产生显著的负向影响。在一定程度上,杠杆作用产生了负面和显著的影响,流动性也产生了影响,但并不显著。GCG能够将金融杠杆和流动性对股票回报的同时影响调节为正的,但具有洞察力。然而,GCG的作用是积极而显著的。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
FINANCIAL LEVERAGE AND LIQUIDITY ON GOOD CORPORATE GOVERNANCE AND STOCK RETURN
Investor needed the information about financial performance in order to predict the price and return of stock. This study aims to find out the effect of financial leverage and liquidity on Good Corporate Governance (GCG) and return of stock in the manufacture companies listed in Indonesia Stock Exchange during the period of 2013-2017. The method of descriptive and verifiative are used in this study by using 94 samples determined by purposive sampling technique. A secondary data is used and analyzed by using panel data regression model and moderated regression analysis. The result showed that simultenously, financial leverage and liquidity effected negatively and significantly to the return of stock. Partially, leverage effected negatively and significantly, as well as liquidity but insignificantly. The GCG is able to moderated a simultaneous effect of financial leverage and liquidity on return of stock to be positive, but insiginificatn. However, GCG effected positively and significantly.
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