Hesty Juni Tambuati Subing
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An empirical analysis of internal and external factors of stock pricing: evidence from Indonesia
Hesty Juni Tambuati Subing , R. Wedi Rusmawan Kusumah , Gusni doi: http://dx.doi.org/10.21511/ppm.15(4-1).2017.02Problems and Perspectives in Management Volume 15, 2017 Issue #4 pp. 178-187
Views: 1299 Downloads: 1535 TO CITE АНОТАЦІЯStock prices change from time to time along with the latest conditions and information derived by investors dealing with the outlook for the company. Changes in stock prices are probably triggered by various factors, both internal and external, coming the company. Internal factors used in this study are price earnings ratio, return on assets, systematic risk, while external factors used are inflation, interest rates, and oil prices. The purpose of this study is to identify factors affecting stock pricing in the consumer goods industry, and determine which factors are most influential on stock prices company. The data used in this study were collected during the period from 2008 to 2015 of companies in consumer goods industry listed on the Indonesia Stock Exchange, and samples were taken from 18 companies. Panel data regression methods have been used to explain factors affecting the stock pricing of the company. Regression result indicates that price earnings ratio, return on assets, and Oil Prices have a positive impact on company stock prices, while inflation has a negative impact on company stock prices. Moreover, systematic risk and interest rate not impact the stock price of the company.