摘要：This research aimed at identifying both the simultaneous and partial influence of such variables as: return on equity (X1),net sales (X2),current ratio (X3),debt to equity (X4),inventory turnover (X5),total assets turnover (X6),and net profit margin (X7),on earnings per share. To examine such influence,this research investigated the food and beverages industries listed at the Jakarta Stock Exchange. The sample investigated included: 9 firms of 1992,15 firms of 1993,19 firms of 1994,20 firms for 1995 and 20 firms for 1996. Results of this research indicate some important findings. First,such variables as: return on equity (X1),net sales (X2),current ratio (X3),debt to equity (X4),inventory turnover (X5),total assets turnover (X6),and net profit margin (X7),simultaneously influence the variability of earnings per share. Second,among these independent variables,it was only X5 which did not significantly influence the variability of earnings per share. This finding is highly related to the fact that the food and beverages industry in Indonesia,to ensure the supply and quality of raw material purchased,the firm must help the local suppliers with technical assistance and working capital. The industry is to provide capital or soft loan to maintain sound and beneficial cooperation. On the other hand,raw material for the food and beverages industry,in practice,is influenced by the successful and fail harvest of suppliers. Finally,as a consequence of the constraints faced by food and beverages industry,lack of raw material is evident in a one period and abundance of raw material is evident in another. Accordingly,high inventory turnover did not indicate the firm’s efficiency. Among the significantly influencing independent variables net sales (X2) and current ratio (X3) showed negative influence on earnings per share. Negative correlation was found between net sales (X2) and earnings per share and was due to the increase of operating expenses and the number of outstanding stock each year. The increasing number of outstanding stock and net sales (X2) which was not sustained by the efficiency of operating expenses,will decrease the earnings per share. On the other hand,the negative correlation between the current ratio (X3) and earnings per share was due to the increase of current asset components,namely,cash,account receivables,and inventory. This indicates over investment in current assets,which in turn,deteriorates the operating efficiency of the firms..
其他摘要：Tujuan penelitian ini adalah untuk mengidentifikasi pengaruh variabel-variabel return on equity (X1),net sales (X2),current ratio (X3),debt to equity (X4),inventory turnover (X5),total assets turnover (X6),dan net profit margin (X7) terhadap earnings per
关键词：earnings per share;food and beverages industry
其他关键词：earnings per share;industri makanan dan minuman.
