THE INFLUENCE OF MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) ON INVESTOR REACTIONS FROM AN ISLAMIC ECONOMIC PERSPECTIVE (Study of Food and Beverage Companies Registered in BEI Period 2020-2022)
DOI:
https://doi.org/10.24127/jf.v7i2.2347Keywords:
Management discusion and analisys (MD&A), Return on equity (ROE) dan Debt To Equity Ratio (DER), Return Saham, Trading Volume ActivityAbstract
MD&A (Management Discussion and Analysis) is part of a company's annual report where management provides analysis and explanation of the company's financial performance and risks. It is an important part of financial reporting as it allows gaining insight into a company's operations and decisionmaking processes. Indications of investor reactions are influenced by internal company factors, namely Management discussion and analysis. This research aims to determine the influence of Management discussion and analysis on Investor Reactions in Stock Returns and Trading Volume Activity. The type of research used is associative quantitative research. The data collection technique used is documentation. The population of this research is 18 food and beverage companies listed on the Indonesian Stock Exchange (BEI) in the 2020-2022 period. The sampling technique used was purposive sampling, and the total sample obtained was 45 data sourced from 15 company annual reports. The data analysis technique used in this research is panel data regression analysis with the help of eviews 12 software The research results show that Y1, it can be concluded that Management discussion and analysis has no significant effect on Stock Returns in food and beverage companies listed on the IDX in 2020-2022. And Y2 Management discussion and analysis has no effect on Trading Volume Activity in food and beverage companies listed on the IDX in 2020-2022. Keywords: Management discussion and analysis (MD&A), Return on equity (ROE) and Debt To Equity Ratio (DER), Stock Returns, Trading Volume Activity
References
Esra, Martha Ayerza. "Analysis of Differences in Stock Returns and Stock Trading Volume Before and After the Holiday Effect in Lq-45 Index Companies for the 2012-2016 Period."Journal of Corporate Economics24, no. 2 (2018): 177–85. https:// doi.org/10.46806/jep.v24i2.444.
Gultom, Sondang Berliana, Lindrianasari, and Liza Alvia. "Management Discussion and Analysis (MD & A) and Investor Reaction (Empirical Study of Companies Going Public on the IDX)."XVIII National Accounting Symposium. Medanno. September (2015): 1–24.
“Husein Umar, “Research Methodology_Application,â€
Puspitaningtyas, Zarah, and Agung Widhi Kurniawan.Quantitative Research Methods. Yogyakarta: Pandiva Books, 2016.
Sugiyono.Evaluation Research Methods (Quantitative, Qualitative and Combination Approaches). Bandung: Alfabeta, 2018.
Quantitative, Qualitative, and R&D Research Methods. Bandung: Alphabeta, 2019.
Surata, Putu Aldhi, and Ida Bagus Putra Astika. "Market Reaction to the Management Discussion and Analysis Disclosure."Accounting E-Journal28, no. 2 (August 10, 2019): 987. https://doi.org/10.24843/eja.2019.v28.i02.p08.
Adelin, Dessy. "Determinants of Earnings Management and Their Implications for Integrity," 2014.
Alejos, Henry. "The Influence of Debt Policy, Company Growth and
Voluntary Disclosure on Earnings Response Coefficient in Manufacturing Companies."PGRI Nusantara University Kediri01 (2017): 1–7. http://www.albayan.ae.
Amruddin, Priyanda Roni, Tri Siwi Agustina, Sri Nyoman Ariantini, and Ni Gusti Ayu Lia Rusmayani.Quantitative Research Methods. Sukoharjo: Pradina Pustaka, 2022.
Andreas, Hans Hananto, Nosy Sis Sucahyo, and Delima Elisabeth. “Corporate Social Responsibility and Environmental Conservation.â€Management Journal15, no. 1 (2015): 119–36.
“Arabic,†n.d
Astuti, 2016. "The Effect of Using Yellow Pumpkin Paste (Cucurbita Moschata) to Substitute Wheat Flour with the Addition of Angkak Flour in Making Dry Noodles."The Effect of Using Yellow Pumpkin Paste (Cucurbita Moschata) to Substitute Wheat Flour with the Addition of Angkak Flour in Making Dry Noodles15, no. 1 (2016): 165–75.
Badawi, Ahmad, Supardi, Jufri Jacob, Sumeidi Kadarisman, Antonius Siahaan, Ani Nuraini, Resista Vikaliana, and Syifa Pramudita Faddila. “Applied Research with Statistical Applications.â€Wdina, 2022, 82–95.
Baltagi, Badi Hani.Econometric Analysis of Panel Data. Berlin: Springer, 2008.
Basuki, Agus Tri.Regression Analysis in Economics and Business Research. Jakarta: Rajawali, 2019
Downloads
Published
Issue
Section
License
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.  Creative Commons Attribution 4.0 International License.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
- The author warrants that the article is original, written by stated author(s), has not been published before, contains no unlawful statements, does not infringe the rights of others, is subject to copyright that is vested exclusively in the author and free of any third party rights, and that any necessary written permissions to quote from other sources have been obtained by the author(s).
Creative Commons License
FIDUSIA : JURNAL KEUANGAN DAN PERBANKAN is licensed under a Creative Commons Attribution 4.0 International License.
