ANALISA PENGARUH KINERJA KEUANGAN TERHADAP RETURN SAHAM SEBELUM DAN SESUDAH IMPLEMENTASI PSAK 70 (TAX AMNESTY) (Investigasi pada saham-saham Sektor Industri Dasar dan Kimia, Sektor Aneka Industri dan sektor Barang Konsumsi di Bursa Efek Indonesia 2015-2
Abstract
This study examines the effect of financial performance on stock returns before and after the implementation of PSAK 70 (Tax Amnesty) on shares of Basic and Chemical Industry, Various Industries and Consumer Goods sector in Indonesia Stock Exchange (BEI) in 2015-2016. Sampling technique used was puposive sampling with total sample of 60 companies. Data analysis technique used multiple linear regression with assisted SPSS program which includes classical assumption test and comparison test with Chow Test. Based on the results of the data before the implementation of PSAK 70, the ratio of EPS, PER and BV have a significant effect on stock return and the ratio of CR, ROE, NPM, DER and PBV no significant effect on stock return. While based on the data after the implementation of PSAK 70, the ratio of EPS and PER have a significant effect on stock return and the ratio of CR, ROE, NPM, DER, BV and PBV no significant effect on stock return. Based on the calculation of Chow test, it is concluded that there are differences in the effect of financial performance on stock returns before and after the implementation of PSAK 70 where F-count shows larger results than F-tables.