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The INFLUENCE OF PROFITABILITY, CASH FLOW, AND STOCK RETURNS ON EQUITY MARKET VALUES BASED ON COMPANY LIFE CYCLE (Study of Manufacturing Companies Listed in Indonesian stock exchange)

Labour, Employment and Work in New Zealand

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Title The INFLUENCE OF PROFITABILITY, CASH FLOW, AND STOCK RETURNS ON EQUITY MARKET VALUES BASED ON COMPANY LIFE CYCLE (Study of Manufacturing Companies Listed in Indonesian stock exchange)
 
Creator Saputra, Mulia
nurjannah, Nurjannah
darwanis, Darwanis
 
Description The purpose of this study is to examine the effect of profitability, cash flow, and stock returns on equity market values based on company life cycle of manufacturing companies listed in Indonesian Stock Exchange over the period of 2012-2014. The data used in this study were obtained from audited financial reports which published by the capital market reference center on the Indonesian Stock Exchange. The type of this research is the hypothesis testing which is applied the purposive sampling method and there are 204 samples of the company as the research object. The results of the study indicate that simultaneous profitability variables, cash flow, and stock returns have a positive effect on equity market values ​​regarding the company's life cycle. While, in the partial test the results of the study point that (1) Profitability at the stage of growth, mature and decline have a positive effect on equity market value. (2) The operating cash flow at the stage of growth, mature and decline have a positive effect on equity market value. (3) Investment cash flow at the stage of growth, mature and decline have a positive effect on equity market value. (4) Financing cash flow at the stage of growth, mature have a positive effect on equity market value while the decline stage has a negative effect on equity market value. (5) The stock returns at the stage of growth and maturity have a positive effect on equity market value while at the decline stage has a negative effect on equity market value.
 
Publisher Scitech Research Organisation
 
Date 2019-02-20
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://scitecresearch.com/journals/index.php/jrbem/article/view/1697
 
Source Journal of Research in Business, Economics and Management; Vol 12 No 2: JRBEM; 2314-2321
2395-2210
 
Language eng
 
Relation http://scitecresearch.com/journals/index.php/jrbem/article/view/1697/1212
 
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