The Effect of Financial Ratio, EVA and Exchange Rate on Stock Return in Fishery Subsector

Abstract

The purpose of this study is to find the relationship between financial ratio and EVA with fishery subsector stock return in Indonesia. The finacial ratio used in this study are  Current Ratio, Debt to Equity Ratio (DER), and Return on Equity (ROE) who are represent liquidity, solvency, and companies profitability. Other factor that has to be measured is Economic Value Added (EVA). EVA has been used for years to measure companies performance, however there are a lot of diferent result among researcher around the world about EVA as the best finacial peformance indicator for companies and can affect companies stock return. One of the macroeconomic factor that expected to have significant effect on stock return is exchange rate. The activity of fishery industries are circle around export and import, therefore exchange rate are expected to be the macroeconmic factor that could affect stock return. The result of this research shown that there are no significant relationship between finacial ratio, EVA, and exchange rate with stock return in fishery subsector.