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Abstract

This study examines the effects of Market Value Added (MVA), Return on Equity (ROE), and Earnings Per Share (EPS) on stock returns of property and real estate subsector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The research is motivated by fluctuations in stock returns and inconsistent findings regarding the relationship between financial performance indicators and stock returns. A quantitative associative research approach was employed using secondary data obtained from annual financial statements and stock price information. The population consisted of 92 companies in this subsector. Using purposive sampling, six companies that remained listed and provided complete data were selected, resulting in 30 observations. Data were analyzed using panel data regression with EViews 13. The results indicate that EPS does not have a significant effect on stock returns (t-statistic -0.637467, probability value 0.5307). In contrast, MVA (t-statistic 3.431978, probability value 0.0025) and ROE (t-statistic 2.603972, probability value 0.0166) have positive and significant effects. However, simultaneous testing reveals that these three variables do not jointly have a statistically significant effect on stock returns at the 5% significance level (Prob. F 0.061987). The adjusted R-squared value of 0.261440 indicates that the three independent variables explain 26.14% of the variation in stock returns, while the remaining 73.86% is attributed to other factors.

Keywords

Market Value Added Return on Equity Earning Per Share Stock Returns Panel Data Regression

How to Cite

Citation Format
Putri, G. A. O., & Dumilah, R. (2027). The Effect of Market Value Added, Return on Equity, Earning Per Share, and Stock Return in Property and Real Estate Companies. Jurnal EMT KITA, 11(1), 491-499. https://doi.org/10.35870/emt.v11i1.8600

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Author Biographies

Ghea Arribah Octaria Putri, Universitas Pamulang

Department of Management, Faculty of Economics and Business, Universitas Pamulang, South Tangerang Regency, Banten Province, Indonesia.

Ratna Dumilah, Universitas Pamulang

Department of Management, Faculty of Economics and Business, Universitas Pamulang, South Tangerang Regency, Banten Province, Indonesia.

License

Copyright (c) 2027 Ghea Arribah Octaria Putri, Ratna Dumilah

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This work is licensed under a Creative Commons Attribution 4.0 International License.

This is an open-access journal distributed under the Creative Commons Attribution 4.0 International License (CC BY 4.0), which permits unrestricted use, distribution, reproduction, and adaptation in any medium (even commercially), provided appropriate credit is given to the original author(s), a link to the license is provided, and any changes made are indicated. Authors retain copyright without restrictions and grant the journal the right of first publication as well as non-exclusive publishing rights for archiving, indexing, and scholarly dissemination.

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