Pengaruh Earning Per Share, Return on Equity, Liquidity, dan Price Earning Ratio terhadap Cumulative Abnormal Return pada Perusahaan Sektor Consumer Non Cyclical di Bursa Efek Indonesia 2018-2023

Abstract

This study aims to determine the effect of earning per share, return on equity, liquidity, and price earning ratio on cumulative abnormal return. This research is a quantitative study using population data from consumer cyclical sector companies listed on the Indonesia Stock Exchange during 2018-2023. In this study, the sample was determined using a saturated sampling technique, resulting in a sample of 70 companies with a total of 420 observations. The study uses secondary data obtained from the official websites of the companies, the official website of the Indonesia Stock Exchange (www.idx.co.id), and finance.yahoo.com. The analytical methods employed include descriptive statistical analysis, classical assumption tests, multiple regression analysis, and hypothesis testing using IBM SPSS Statistics Version 26 software. The findings of this study reveal that return on equity and liquidity have a partially positive effect on cumulative abnormal return. Meanwhile, earning per share and price earning ratio were found to have no partial effect on cumulative abnormal return.