THE INFLUENCE OF SALES GROWTH FACTORS, FIRM SIZE, AND MARKET CAPITALIZATION VALUE ON STOCK RETURNS IN MANUFACTURING COMPANIES LISTED ON THE IDX IN 2020-2022

Abstract

The purpose of this study is to conduct testing and analysis of the influence of sales growth, firm size, market capitalization value on stock returns in manufacturing companies listed on the Indonesia Stock Exchange in 2020 and 2022. The research methodology is quantitative, with 177 companies being sampled using purposive sampling techniques. The information collected varies regarding ratios and comes from the financial records of manufacturing companies. To evaluate the data, multiple linear regression analysis is used. The research findings show how market capitalization value, company size, and sales growth affect returns in manufacturing companies listed on the Indonesia Stock Exchange in 2020-2022. Sales growth has an impact on stock returns, meaning that an increase in a company's income shows the impact of the profits the company has earned, so that the stock returns received by investors will also increase. Firm size influences stock returns because a large company size indicates a high asset value so that it can provide large stock returns to investors. Market capitalization affects stock returns, high market capitalization will indicate a higher potential for company growth and can have an impact in the form of stock returns with low risk.