Earnings EFFECT ON RECEIVED BY RETURN SHAREHOLDERS

Earnings EFFECT ON RECEIVED BY RETURN
SHAREHOLDERS.
Based on the test results have found that the earnings variable
significant effect on the return received by shareholders. Population
consumer goods manufacturing companies in the three years studied,
showed improved earnings. In 2000, there were 9
The company has negative earnings, but in 2001 and 2002
The company has negative earnings respectively is only 5 and 4
company. Relatively good condition can be understood, because the companies
These products are consumed daily by consumers
end, so the relative value of the company sales are not decreasing.
Difficulties many companies relied on funding issues and costs
losses. Sales of relative stability makes it easier for companies to
accelerate the process of debt restructuring with creditors, so that the load
statements arising from bank loans can be quickly resolved.
In addition, the depreciation of the rupiah against the U.S. $ for three years
The last also shows current progress. In 2000,
Rupiah weakens about 2,500 points (from Rp 7,100 = U.S. $ 1 = Rp 9595
U.S. $ 1). In 2001, the rupiah depreciated by about 1,000 points (Rp 10,400
= U.S. $ 1). At the end of 2002, the rupiah strengthened to Rp 8,940 =
U.S. $ 1.
This improved the condition of earnings that was also a real impact on
stock performance. Earnings have been prepared under the accounting standards and see
directly in earnings. Publication of earnings is often directly
positive impact on share price development. Earnings
positive also allows companies distribute dividends to shareholders
shares. But keep in mind that high earnings are not necessarily
reflect the large cash. At the time of economic crisis, corporate cash
has a very high value. By having a big cash, the company
jams can be quickly settle debts, because creditors will be directly
give certain discounts (cash settlement). On the other hand, many companies
customers are experiencing liquidity problems, resulting in terms of sales
credit generally is longer. Companies should continually
find a faster and more efficient to produce and sell
stuff.
Based on the above conditions, can be understood to awareness of the
investors that higher earnings will not necessarily reflect the conditions
profitable in the next period. At this time, cash
more value to guarantee the future performance of the company.

Referensi: