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One of the reasons why a firm chooses to go private is the significant amount of cash flows which can exacerbate agency costs: this can indicate poor growth opportunities and make external resources less required. In line with both knowledge economy and financial literature, the paper aims to indagate the relationship between agency costs, firm's performance, and delisting. Despite there is evidence in finance that highlights the role of exchange regulators in the going private processes, just few studies focus on the voluntary delisting and its antecedents. Starting from the knowledge economy setting, this paper aims to define how firm's financial performance moderates the relationship between agency costs and delisting choices. Based on a sample of non-financial firms delisted from the most important European stock markets between 1997 and 2017, we applied an OLS regression to analyze the main variables that influence the going private processes. We find that a high level of stock market performance, associated with high level of free cash flows, promotes going private as a means of anticipating and preventing future value decreases. Finally, the paper provides practical implications for the development of new approach of delisting choice. [ABSTRACT FROM AUTHOR]

This paper develops an equilibrium model featuring heterogeneity in investor risk tolerance across different risk sources. Using Australian data, it confirms the theoretical predictions of the model by showing that a higher imputation credit yield in one year leads to a lower stock return in the next year. This negative relationship between imputation credit yield and stock return is weaker for stocks with higher idiosyncratic risk, larger size, and higher trading turnover. Our theoretical and empirical evidence favours the aggregation approach in explaining the capitalization effect of imputation credits over the marginal investor approach. [ABSTRACT FROM AUTHOR]

This research investigates the short-term and long-term performance and volatility of publicly traded firms engaged in blockchain business. In particular, it examines how ownership structure impacts performance and volatility in such firms. We manually collected the data of Chinese A-listed companies participating in blockchain development during 2013–2018 as samples, and find that both short- and long-term performance and volatility significantly decrease among these firms after involvement in blockchain business. Ownership concentration has a positive correlation with stock returns, return on assets, and volatilities, whereas the state as a controlling shareholder strengthens these positive links. [ABSTRACT FROM AUTHOR]

This paper studies the relationship between accounting information reflected in financial statements and stock return in Vietnam Stock Market. The authors propose a research model to define the relationship. Besides, machine learning algorithms are used in researching and forecasting, with data obtained from observed firms during the period from 2009 to 2020. Research results show that gradient boosting algorithm has the best self-reporting performance and financial ratios also have great impact on stock returns, including operating income growth, stock earnings volatility, dividend yield, earnings before tax-to-equity ratio, cash holding ratio, and accrual quality. Based on the research results, the authors make some recommendations for investors, firms, and policy makers. [ABSTRACT FROM AUTHOR]

This study aims at the impact outbreak of COVID-19 influence Chinese currency and stock market over the period December 2, 2019, to January 04, 2021. The Generalized Autoregressive Conditional Homoscedastic approach captures the most common stylized fact about index returns (such as multivariate to capture the Shanghai and Shenzhen stock exchange). Our finding shows the explosive process and risk premium for the Shenzhen stock exchange (SSE) and Shanghai stock exchange (SZSE) index. And the standard deviation depreciation of the Chinese currency during the COVID-19 equivalent to 0.46% improved stock market return by 81% average returns. These results explain that high volatility of index returns is present in the Chinese stock market over the sample period. According to the analysis results, it can be concluded that the number of new cases and the number of recent deaths have a significant effect on the stock market, causing uncertainty in the sustainability. [ABSTRACT FROM AUTHOR]

Determining the event type is one of the main tasks of event extraction (EE). The announcement news released by listed companies contains a wide range of information, and it is a challenge to determine the event types. Some fine-grained event type frameworks have been built from financial news or stock announcement news by domain experts manually or by clustering, ontology or other methods. However, we think there are still some improvements to be made based on the existing results. For example, a legal category has been created in previous studies, which considers violations of company rules and violations of the law the same thing. However, the penalties they face and the expectations they bring to investors are different, so it is more reasonable to consider them different types. In order to more finely classify the event type of stock announcement news, this paper proposes a two-step method. First, the candidate event trigger words and co-occurrence words satisfying the support value are extracted, and they are arranged in the order of common expressions through the algorithm. Then, the final event types are determined using three proposed criteria. Based on the real data of the Chinese stock market, this paper constructs 54 event types (p = 0.927, f = 0.946), and some reasonable and valuable types have not been discussed in previous studies. Finally, based on the unilateral trading policy of the Chinese stock market, we screened out some event types that may not be valuable to investors. [ABSTRACT FROM AUTHOR]

Previous studies document a strong organization capital effect in stock returns. We investigate whether and how research and development (R&D) activities affect this organization capital effect. We find that the organization capital effect is stronger in firms with R&D activities. The annual abnormal return of the hedge portfolio sorted by organization capital is 2.41% for R&D firms but only 0.41% for non‐R&D firms. Further analyses show that the organization capital effect can be attributed to R&D characteristics rather than R&D risk factors. [ABSTRACT FROM AUTHOR]

We give the highest-priced stock an eye-catching heading, "Stock King," and refer to the event that a new stock becomes the stock with the highest share price as the Stock King change event. Using data from Taiwan Stock Exchange, we divide news media into local and global media and examine how these two media react to Stock King change events, thereby affecting the return of the whole financial market and the Stock King itself. The novel finding of our study is that local and global media have very different implications on the return of the market and the Stock King. Specifically, local media coverage is more effective in increasing the whole market return, while global media coverage has a significant effect on the Stock King's return. Finally, as for the relationship between these two media, when Stock King change events occur, our results show that local media reports have a spillover effect on global media coverage. [ABSTRACT FROM AUTHOR]

This study investigates the relationship between COVID-19 measured by growth in number of weekly confirmed new cases and stock returns of the major indices in selected Middle East and North Africa (MENA) countries. To test the influence of COVID-19 on stock returns, this study uses panel data methodology using weekly data between 19 March 2020 and 31 December 2020. Contrary to expectations, our findings fail to demonstrate a significant link between stock market index returns and COVID-19, which is proxied by the growth in weekly confirmed new cases. Additionally, regarding the control variables, whereas no relationship is documented between Chicago Board Options Exchange Volatility Index (VIX) and selected countries' stock index returns, 5-year Sovereign Credit Default Swap (CDS) figures of the selected countries are found to be negatively and significantly related with the main variable of interest. [ABSTRACT FROM AUTHOR]

Financial indicators are ratios that summarize corporate performance, enable comparison of companies in the same sector, and reveal the general trend of corporate performance. Financial ratios are also indicators that provide information about firm profitability, liquidity status, capital structure and financial structure. It is also one of the basic criteria in stock selection. The purpose of this study is to determine the financial ratios associated with stock returns and contribute to the selection of stocks with high returns. In this context, the relationship between the returns of stocks traded in the BIST100 index and financial ratios was analyzed by panel quantile regression analysis. As a result of the study, leverage, stock turnover, return on assets, return on equity, acid-test, current ratio and asset turnover ratios are effective on share returns with a significance level of 5%. These effects were negative on leverage, liquidity, ROA, ITR (at 0.75 quantile) and current asset turnover rate. The positive and significant effect is seen in the current ratio, ROE, ATR and ITR (at 0.25 quantile) rates. [ABSTRACT FROM AUTHOR]

Introduction: Investors need to understand the company's financial performance and other factors to make the right investment decisions. This study aims to analyze the effect of profitability, liquidity, leverage, and firm size on stock returns. Methods: This research is a quantitative study. A sample of 16 companies was taken purposively from 28 retail companies for the 2016-2020 period. The analytical technique used is multiple linear regression Results: Profitability (return on assets), liquidity (quick ratio), and firm size have no significant effect on stock returns, while leverage (debt to equity ratio) has a significant positive effect on stock returns. Conclusion and suggestion: Further researchers can add other variables that are not included in this research model in order to find out the variables that can affect stock returns. [ABSTRACT FROM AUTHOR]

The concept of liquidity has been widely discussed in the literature of financial management to determine its influence on the different aspects of company's financial performance. In a firm, there is a deficit and surplus in liquidity related to stock and it needs to be monitored to control the equity of a company. Deficit liquidity arises from a shortage in stocks and this can cause the profitability to below and this can cause a cashflow concern for the company. Hence, it is critical to evaluate the impact of liquidity on the returns and value of the study. Therefore, the following research is mainly conducted to investigate the effect of liquidity on the stock return from the context of two markets which are Pakistan and the United Kingdom. The data is gathered from total of 60 companies where the 30 companies belong to Pakistan whereas the remaining 30 companies are from UK. The time frame from which the data is collected is from 2005 till 2019 which makes a total time period of 15 years. With respect to the results of regression of the Pakistani data, it was determined that the illiquidity has significant and negative influence on the stock return whereas interest rate and HML has significant and positive influence on stock return. It is clear that the investors are highly concerned with the liquidity of the Pakistani companies as the increase of liquidity would cause reducing the stock return. While reflecting to the results of regression on UK data, it was identified that illiquidity has insignificant influence whereas the book to market, SMB, HML, IR and LNGDP has significant influence. Book to market and interest rate has negative influence on stock return whereas SMB, HML, interest rate and GDP have positive effect on stock return. Furthermore, recommendation and limitations are also highlighted in the study. [ABSTRACT FROM AUTHOR]

This paper has tried to assess the impact of COVID-19 on stock return in different sectors listed under Dhaka Stock Exchange in Bangladesh during the period from 08 March 2020 to 15 September 2020. To measure the impact of COVID-19 on stock return, daily change in number of confirmed cases and deaths have been used as independent variables and DSE stock return has been taken as variable of interest. Data were collected from Bangladesh Government’s official portal, DSE archive and annual reports of listed firms. Sample is selected using two stage sampling method which is a probabilistic model. To test the validity of the used model, Pearson’s correlations analysis, Breusch and Pagan’s heteroscedasticity test, White’s homoscedasticity test and Hausman’s fixed random tests are conducted. After testing the validity, fixed effect method of panel data regression model has been used to test the two hypotheses. The result reveals that most of the sectors responded negatively to the growth in COVID-19 confirmed cases. It is also observed that selected sectors reacted more proactively to the growth in number of deaths as compared to the growth in number of confirmed cases. Where banking and textile sectors are the most sufferers to the growth of both confirmed cases and deaths, pharmaceuticals & chemicals industry proved out to be the gainers. The findings will have policy implications for the regulators as well as for the investors to design the optimum portfolio of investment. The study will add new dimensions to the existing literature.

This research was conducted to determine the effect of Operating Cash Flow, ROA Net Profit and ROE on the movement of Stock Return, data or information obtained through financial statements. And the method of data collection is done with Purposive Sampling there are 21 companies in a period of 3 years, therefore the total sample of this study should be 63 samples. But because the data of this study using outliers then the total sample became 41. Then analyzed using multiple linear regression using SPSS 20 software. From this research, the researchers obtained results, namely: Operating Cash Flow, Net Income, and ROA individually had no significant effect on Stock Return. ROE individually affects and is significant to the Return of Shares. Operating Cash Flow, Net Income, ROA and ROE are simultaneously concurrently and significantly impacted on Stock Return. Keywords: Operating Cash Flow, Net Income, Return on Assets, Return on Equity, Share Return.

In recent years, issues of infrastructure development and economic growth have become very popular topics during President Jokowi’s administration. Infrastructure development is expected to have an impact on economic growth. The purpose of this study was to examine the effect of fundamental values on the stock returns of infrastructure companies listed on the Indonesia Stock Exchange in 2015-2017 with economic growth as a moderating variable. This research uses a purposive sampling technique. The analytical method used is partial least squares with WarpPLS software version 6.0. the results show that EPS has a positive effect on stock returns while DER, PER, and NPM do not affect stock returns. Furthermore, it also indicates that economic growth does not moderate the effect of EPS and DER on stock returns. However, the results of the study prove that economic growth can moderate the effect of PER and NPM on stock returns. This research implies that government policy that sets priorities for infrastructure development needs to be supported because it is proven that the government policy has a positive effect on the profits and stock returns of infrastructure companies.

This study aims to analyze the effect of Green Intellectual Capital, Conservatism, and Real Earning Management on Future Stock Returns and their Implications on Stock Returns on Mining companies listed on the Indonesia Stock Exchange Period 2014 - 2019. This type of research is quantitative research in which this research is done by explaining the results of data from the calculation of numbers that are calculated and analyzed. The analysis used in this research is regression analysis, where regression analysis estimates the magnitude of the coefficients resulting from a linear equation involving one independent variable to be used as a predictor of the value of the dependent variable. The results of this study indicate that Intellectual capital has a significant effect on future stock returns, Conservatism has a significant effect on future stock returns, earning management has a significant effect on future stock returns, Implications future stock return on stock returns. These findings indicate that in sample companies, future stock returns on stock returns have no implication.

This paper studies the role of corporate social responsibility (CSR) performance on corporate financial performance during the COVID-19 by examining a sample of Chinese listed firms. Based on the PSM-DID methodology, we find that the pandemic-induced decline in stock returns is stronger with more CSR engagement. The results remain robust even after the dynamic effect test and placebo test. It means CSR performance does not improve Chinese corporate immunity to the pandemic. This inadequate response of CSR could be due to the “relatively few good things effect”. Furthermore, our study indicates that increasing awareness of responsible investment and improving the quality of CSR disclosure could facilitate CSR engagement in China.

ABSTRAK Seorang investor pada umumnya berharap untuk membeli suatu saham dengan harga yang rendah dan menjual saham tersebut dengan harga yang lebih tinggi untuk memperoleh imbal hasil yang tinggi. Namun, kapan waktu yang tepat melakukannya menjadi tantangan tersendiri bagi para investor. Oleh sebab itu, dibutuhkan suatu model yang mampu menduga imbal hasil saham dengan baik, salah satunya adalah model autoregressive moving average (ARMA). Tujuan dari penelitian ini adalah untuk menerapkan model autoregressive (AR), model moving average (MA), atau model autoregressive moving average (ARMA) pada data observasi untuk menduga imbal hasil saham bank central asia (BCA). Terdapat empat prosedur dalam membangun sebuah model AR, MA atau ARMA. Pertama, data yang digunakan harus weakly stationary. Kedua, orde dari model harus diidentifikasi untuk memperoleh model yang terbaik. Ketiga, parameter setiap model harus ditentukan. Keempat, kelayakan model harus diperiksa dengan melakukan analisis residual untuk memperoleh model yang terbaik. Pada akhirnya, model ARMA (1,1) adalah model terbaik dan akurat dalam menduga imbal hasil saham BCA. ABSTRACT Generally, investor always wish to be able to buy a stock at a low price and sell it at a higher price to obtain high returns. However, when is the best time to buy or sell it is a challenge for investor. Therefore, proper models are needed to predict a stock return, one of them is autoregressive moving average (ARMA) model. The first purpose of this paper is to apply the autoregressive (AR), moving average (MA) or ARMA models to the observations to predict stock returns. There are four procedures which is used to build an AR, MA, or ARMA model. First, the observations must be weakly stationary. Second, the order of the models must be identified to obtain the best model. Third, the unknown parameters of the models are estimated by maximum likelihood. Fourth, through residual analysis, diagnostic checks are performed to determine the adequacy of the model. In this paper, stock returns of BCA are used as data observation. Finally, the ARMA (1,1) model is the best model and appropriate to predict the stock returns BCA in the future.

The unprecedented COVID-19 pandemic has ripped down the worldwide economies since the beginning of 2020. The stock market was one of the economic sectors that experienced depression and crashed during the pandemic. In this study, we mount an investigation on how Indonesia's large-scale social restrictions (known as "PSBB"), the announcement of the daily growth in total confirmed and death cases by COVID-19 affect the dynamic of Islamic stock returns in the Jakarta Islamic Index. This study used panel regression to test the effect between variables with market-to-book ratio and market capitalization ruled as a control variable. This study concluded that the announcement of daily growth in total confirmed cases by COVID-19 and the implementation of PSBB has a negative effect on the deterioration of the Islamic stock market's stability. Therefore, the higher growth of the total confirmed cases by COVID-19 and the tightening of the PSBB that was announced and implemented by the government would impact on the volatility of market and shareholders returns negatively. Interestingly, this study also found that there was a positive and significant relationship between the daily growth of death cases and stock return. Furthermore, the sectors of consumer goods, mining, and trading counted as the most performed market during the pandemic crisis.

This paper presents empirical evidence that a firm's refinancing risk affects its income-increasing earnings management. We find that refinancing risk is positively associated with discretionary accruals and that interaction between leverage and refinancing risk aggravates the incentive to manage earnings. We also find that the firm's cash holdings attenuate the adverse effect of the refinancing risk on the earnings management. In addition, we document that the discretionary accruals of firms with high refinancing risk are negatively associated with one-year-ahead stock returns. Our results suggest that firms with higher refinancing risk have opportunistic incentives to inflate earnings to appear financially healthy, but the effect of earnings management is temporary. [Display omitted] • Using US data over the period of 1988–2021, we find that firms with higher refinancing risk engage in more income-increasing accruals management. • We document that the firm's cash holdings attenuate the adverse effect of the refinancing risk on earnings management. • The income-increasing accruals management of the firms with high refinancing risk decreases one-year-ahead stock returns. • The firms' earnings management to increase stock prices has a temporary effect and seems to be unsuccessful. [ABSTRACT FROM AUTHOR]

• We construct a measure of managerial optimism using textual and nonparametric estimation. • We explore the impact of managerial sentiment on company operational efficiency. • Managerial optimism positively influences stock price returns over the subsequent year. • This research offers practical implications for management at the firm-level. This study constructs a measure of managerial optimism using textual and nonparametric estimation methods, exploring its impact on company operational efficiency and market reactions. Findings indicate that managerial optimism positively influences stock price returns over the subsequent year by enhancing internal operational efficiency and reducing analyst forecast dispersion, with a more pronounced effect in state-owned enterprises. Utilizing information from the MD&A (Manager Discussion and Analysis) section of annual reports, this research demonstrates the role of managerial optimism in company operations and market reactions, offering empirical evidence for corporate behavioral finance research and practical implications for management practice. [ABSTRACT FROM AUTHOR]

This paper investigates the cross‐sectional relation between media coverage of industry and expected stock returns. Using abnormal industry‐level news volume as a proxy for industry‐level media coverage, we find that stocks in industries with lower media coverage earn significantly higher future returns than stocks in industries with higher media coverage. This finding is robust even after controlling for well‐known stock characteristics and proxies for stock‐specific attention. Moreover, the return premium of lower industry‐level media coverage experiences continuation in the following 2 months, only to be followed by a reversal in the third month, due to the erosion of media coverage. [ABSTRACT FROM AUTHOR]

The purpose of this study is to find the impact of macroeconomic (inflation, BI rates, economic growth, world oil prices, and the money supply) on stock return in Indonesia. A sampling of 251 listed companies listed on the Indonesia Stock Exchange (IDX) was carried out using a purposive sampling technique. The data used in this study is panel data, namely cross-section data and time-series data, for the period 2007-2017. While the data analysis technique uses panel data regression and processed by Eviews Software. The results showed that inflation and the Rate does not significantly influence stock returns. While, economic growth, world oil price, and money supply significantly influence stock return. The result of our study gives the implication that macroeconomic variables must be controlled to maintain the stability of stock returns. [ABSTRACT FROM AUTHOR]

This essay expands the theory on value versus growth stocks by adding another component to growth stocks. The new component is the substantial size growth (sg) (market capitalization growth). As shown in the financial literature, growth stock returns are lower than value stock returns. When sg is exploding, the growth stock returns are even substantially lower. This new variable is highly significant both statistically and economically. [ABSTRACT FROM AUTHOR]

Copyright of Brazilian Business Law Journal / Administração de Empresas em Revista is the property of Administracao de Empresas em Revista and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of this research study is to test whether coal stock prices have an influence relationship with stock return volatility during the Covid-19 pandemic. The sampling technique in this research use the purposive sampling technique, where the object of research used is sharing, which are shares of coal companies. The research data processing was carried out using Excel. Results showed that in the period of the research conducted by the researcher, it was found that the January Effect occurred in 2017, 2018, 2019 and 2022. The benefit of this research is to find out whether there is a January effect in the research period, which begins from 2017 – to 2022, so that investors are aware of the information and know the right time when they want to buy coal shares. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Management & Systems is the property of Business Administration Association of R.O.C. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Macroeconomic factors and sentiments affect investors' decisions and thus stock returns. However, do sentiments on macro‐economic news explain stock returns? This article proposes a theoretical model to explain the relationship between stock returns and the market misperception which is driven by investors' sentiments. Then, microblogs regarding the macro‐economy posted on Sina Weibo, a mainstream Chinese Social Network Site, are extracted to measure investors' macroeconomic sentiments (IMSs) through machine learning approaches. A preliminary event study suggests that IMSs capture the development of influential macroeconomic events. Empirical results demonstrate that orthogonalized IMSs including anger, disgust, fear, joy and sadness exert heterogeneously significant effects on the Shanghai Composite Index (SHCI), and no reverse effect is found. Thus, the IMS contains additional information related to the macro‐economy; but cannot be explained by macroeconomic factors. IMSs improve the in‐ and out‐of‐sample predictabilities of SHCI returns. Thereby, investors' sentiment can be an important channel through which the macro‐economy affects the stock market. [ABSTRACT FROM AUTHOR]

This study aims to analyze stock returns influenced by the Investment Opportunity Set and Earnings Quality by using Technology moderation as urgency, in the Property & Real Estate company sector as one of the most profitable sectors for investors to invest. The population in this study are property & real estate companies listed on IPOs from 2015 to 2019 as many as 65 companies and the number of samples that meet the characteristics of the study are 19 companies. The research method used is quantitative with E-Views 10 software program. The results show that the six hypotheses are accepted that the investment opportunity set has a positive effect on stock returns, earning quality has a positive effect on stock returns, technology has a positive effect on stock returns, and investment opportunity set and earning quality has a simultaneous effect on stock returns, technology moderates the effect of IOS on stock returns, and technology moderates the effect of EQ on stock returns. [ABSTRACT FROM AUTHOR]

This paper evaluated the impact of Covid-19 in Indonesia. The total samples used in this observation were 140,864 samples from Indonesia, collected from March 05, 2020, until December 30, 2020. The regression used was STATA 13.1, and the independent variable was the stock return. Meanwhile, the other variables used to measure the impact of Stock return during Covid-19 are Trading volume, Exchange rate, and Friday. The result revealed that Stock returns in Indonesia were negatively affected by Covid-19, the impact being carried away from the investors' uncertainty and anxiety about Covid-19. On the other hand, trading on Friday makes investors less suffering from negative returns. [ABSTRACT FROM AUTHOR]

This study examines the time-varying impact of the Novel Coronavirus (COVID-19) on stock returns by employing the bootstrap rolling window causality test. For this purpose, we use the daily data of COVID-19 confirmed cases and stock returns of six most hard-hit developed countries from the COVID-19 pandemic, namely France, Germany, Italy, Spain, the United Kingdom, and the United States. Before investigating the time-varying impact of COVID-19 on stock returns, we first examine the long-run relationship between COVID-19 confirmed cases and stock returns with the Kao panel cointegration method and we find that there exists a long-run relationship between variables. The bootstrap rolling window causality test results show that confirmed cases of COVID-19 have a time-varying impact on stock returns for each country. We also find that among the six developed countries in this study, the impact of daily COVID-19 confirmed cases on stock returns is the least in Germany, while it is the most in Italy. These results are thought to provide important information to market participants.

Investors become jittery when they do not earn return on their hard earned money. In the same time, they want to make their investment in safe place rather than losing it. For better return, they also want to estimate the volatility in stock market. The basic purpose of the present study is to forecast the volatility in stock return of emerging economies. For the same, the adjusted daily closing price of eleven countries is considered for five years. Generalized Autoregressive Conditional Heteroscedasticity (GARCH) has been applied to predict the stock return of these countries. The different orders of GARCH have been applied in predicting the volatility. It is found that the volatility of every stock return can be forecasted.

Disclosure of Enterprise Risk Management, Profitability and Financial Leverage is an important instrument to provide information to investors, thereby attracting interest in investing in companies that affect the company's stock returns. This study examines the effect of Enterprise Risk Management Disclosure, Profitability, Financial Leverage on Stock Return. The sample in this study using the purposive sampling method was obtained as many as 65 companies from the Manufacturing Sector listed on the Indonesia Stock Exchange in 2020. The data analysis techniques used were descriptive analysis and multiple linear regression analysis. The results of this study indicate that ERM disclosure has no effect on Stock Return, while Profitability and Financial Leverage has an effect on Stock Return. The results of this study indicate that investors in making investments do not pay attention to whether the company's risk management has been managed properly or not. Investors are more concerned with financial information, such as profitability and leverage. Financial information such as profitability and leverage can provide confidence for investors in placing their capital.

The significance of ensuring a consistent return on stocks for publicly traded companies cannot be overstated. This is due to the fact that returns inform investors about managerial and market performance and enable them to forecast the company's future earnings. However, global corporate scandals at the turn of the century, as well as the global financial crisis, eroded investor confidence. Seven firms were dropped from the study, which included all 23 consumer goods firms, during the filtration process. Data was extracted from the annual reports of the sampled companies (2010 to 2019) as well as the Nigerian Stock Exchange as of 2020. The ex-post facto approach with agency theory was chosen because the event under consideration has already occurred. Stock returns are the profits or gains made by investors in the stock market. Managers may view the payment of investor returns as a positive indicator of the company's market prospects. The significance of ensuring a consistent return on stocks for publicly traded companies cannot be overstated. The purpose of this research is to look into the effects of three corporate properties on the stock returns of publicly traded consumer goods firms in Nigeria. It was discovered that concentration of ownership, institutional ownership, and ownership all have a significant impact on Nigerian stock returns. It also implies that the SEC should provide an incentive to firms that disclose accounting information in the form of a commendation.

A lot of investors are currently focusing on corporate earnings information, resulting on stock market reacts more strongly to unexpected earnings. The reaction is caused by several factors such as Earning Surprise (ES) and Earning per Share (EPS). Based on these, the research was conducted to find out how ES and EPS affect on stock return of manufacturing companies listed on Indonesia Stock Exchange in 2016-2018. This research is quantitative descriptive with associative research methods. The data used in this research were annual reports of manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period 2016-2018. Sampling in this research was conducted using a purposive sampling method. The results showed that simultaneusly and partially EPS and ES variables have no effect

The condition of manufacturing companies that experienced a bad impact due to the weak value of operational activities resulted in a decrease in company profits so that the impact on the portion of corporate social responsibility disclosure was reduced. The Covid-19 pandemic has caused several manufacturing companies to be unable to generate profits that have been determined at the General Meeting of Shareholders (GMS) so that the return on investment is lower. This study aims to examine in depth the systematic risk that will affect stock returns in changing the relationship between investor sentiment, trading activity, market factors and stock return responses during the Covid 19 Pandemic. The population used in this study are manufacturing companies listed on the Indonesia Stock Exchange. as many as 169 companies. Of the 169 companies listed on the Indonesia Stock Exchange, there were 39 companies that were delisted during 2020 and 45 companies that did not have complete data on the required research variables, so the number of sample companies used was 85 companies. The data analysis technique uses Structural Equation Modeling (SEM) analysis with PLS smart software. The results of the study show that CSR has a negative effect on ROA with a significance level of 0.000. CSR has a positive effect on stock returns with a significance level of 0.000. ROA has a positive effect on Stock Return with a significance level of 0.000. [ABSTRACT FROM AUTHOR]

The aim of this study is to determine whether the Q-Factor Model can be used in the estimation of the stock returns of the companies on the Borsa Istanbul manufacturing industry sector. For this purpose, quarterly data of 141 companies that are on the Borsa Istanbul Industry between 31.12.2013 and 31.12.2018 and traded continuously between these dates have been used. Market risk premium, firm size, investment and return on equity factors are used in the model used to explain the stock returns. Whether factors affect stock returns or not is tried to be determined by panel data analysis. According to the analysis results, it has been determined that the market risk premium and investment factors are statistically significant and the other factors that affect the stock returns are not statistically significant. [ABSTRACT FROM AUTHOR]

This research is a quantitative research that has the aim of identifying the effect of profitability (Return on Assets) and Debt Policy (Debt to Equity Ratio) on stock returns with inflation as a moderating variable in the manufacturing industry (Consumer Goods) listed on the IDX 2016-2020. The illustrations used in this research are the manufacturing industry (Consumer Goods) listed on the IDX for the period 2016–2020. The illustration method used in this study is a purposive sampling procedure. Research illustration of 36 industries with 180 observations. Hypothesis testing in this research using regression analysis as well as Moderate Regression Analysis (MRA) with the E-View 9. 0 program. The results of the test obtained (1) there is a significant effect profitability on stock returns, (2) there is no significant effect of debt policy on stock returns, (3) partially inflation cannot moderate the effect of profitability, and debt policy on stock returns. [ABSTRACT FROM AUTHOR]