FINANCIAL PERFORMANCE, MACRO ECONOMY, AND MARKET RETURN IMPACT ON STOCK RETURN: STUDY OF CONSUMER CYCLICAL INDONESIA PERIOD 2014-2023

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Kosnandar, Christina (2025) FINANCIAL PERFORMANCE, MACRO ECONOMY, AND MARKET RETURN IMPACT ON STOCK RETURN: STUDY OF CONSUMER CYCLICAL INDONESIA PERIOD 2014-2023. Graduate thesis, institute ipmi.

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Abstract

The consumer cyclical industry is significant for supporting the country’s economic development and creating job opportunities, helping the country escape from the middle-income trap by attracting domestic and foreign investment, considering Indonesia’s large market and growth potential. Consumer cyclical industries contribute 20% of job creation and 21.3% of Indonesia’s GDP. This research aims to determine the relationship and impact of financial performance (asset efficiency, liquidity, and profitability ), macroeconomic factors (exchange rate and interest rate), and market return on the stock return of the consumer cyclical industry in Indonesia for the period 2014-2023. This research used a sample of consumer cyclical companies with ESG Scores listed on the Indonesia Stock Exchange from 2014 to 2023. The sampling technique used is purposive, consisting of ten cyclical companies—the analysis method used is panel regression data analysis and path analysis. This study found that profitability and market return have a positive and significant impact on the stock return of the consumer cyclical industry in the period 2014-2023, while asset efficiency, liquidity, exchange rate, and interest rate do not significantly impact the stock return. COVID-19 moderating exchange rate and interest rate effect on stock return. Investors need to understand the company's financial statement (especially regarding the profitability) and market return before investing in the consumer cyclical industry's stock. The government and economic regulator need to create a conducive environment to keep the country’s interest rate stable and create regulations that support investment in the stock listed in IDX, which will give confidence to the investor and can favor economic growth which will finally create economic and social stability.

Item Type: Thesis (Graduate)
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Thesis > Master of Business Administration
Depositing User: sandra margaretha
Date Deposited: 30 Apr 2025 06:43
Last Modified: 30 Apr 2025 06:43
URI: http://repository.ipmi.ac.id/id/eprint/2714

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