The Effect of Market Value Added, Return on Equity, Earning Per Share, and Stock Return in Property and Real Estate Companies

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.