PENGARUH INTEREST RATE RISK, KURS RISK, FINANCIAL RISK TERHADAP RETURN SAHAM PADA PERUSAHAAN FARMASI di INDONESIA

Ali Sadikin

Abstract


This study aims to determine the effect of variable interest rate risk, kurs risk, and  financial risk on stock returns pharmaceutical-year period 2012- 2015. This study uses secondary data while the instrument using multiple regression analysis (SPSS 21). The sampling technique research using Census Sampling. Total population research used from 2012 to 2015 is 10 pharmaceutical companies, whereas the sampled are 10 pharmaceutical companies. The object of research is a pharmaceutical company listed on the Indonesia Stock Exchange period 2012 to 2015. From the results of the test F, the value of its significant F 0,000, is smaller than the value of α = 0.05 means that all of the variables X interest rate risk (X1),  kurs risk  (X2), and financial risk variable (X3) influence simultaneous to variable Y thus reject Ho and accept H1. Partial (t-test) there is only one independent variable (Xi) having a significant effect on the dependent variable (Y), the variable interest rate risk (X1) with a negative direction, while the variable kurs risk (X2) and variable risiko financial ( X3) did not significantly affect the variable Stock Return (Y) direction were equally negative for significant value t is larger than α=0.05.


Keywords


Interest rate risk, Kurs risk, Financial risk, Return

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