摘要：Imbal hasil saham masa datang menjadi faktor pertimbangan investor untuk melakukan investasi. Penelitian ini bertujuan untuk mengetahui pengaruh modal intelektual,manajemen laba,dan imbal hasil saham terhadap imbal hasil masa datang pada perusahaan manufaktur sub sektor industri makanan dan minuman yang terdaftar di Bursa Efek Indonesia periode 2012 - 2017. Metode yang digunakan adalah kuantitatif dengan sampel 7 perusahaan berdasarkan purposive sampling. Data sekunder digunakan dengan analisis regresi data panel melalui software Eviews 10. Hasil penelitian ini menunjukkan bahwa secara simultan modal intelektual,manajemen laba,dan imbal hasil saham berpengaruh terhadap imbal hasil masa datang sebesar 76,15%. Secara parsial,modal intelektual berpengaruh positif dan tidak signifikan,manajemen laba berpengaruh negatif dan signifikan,sedangkan imbal hasil saham berpengaruh positif dan signifikan terhadap imbal hasil masa datang.
其他摘要：Future stock returns are factors for investors to consider investing. This research aims to identify the influence of intellectual capital,earning management,and stock return toward future stock return in manufacturing companies of sub sectors food and beverages industry listed in Indonesia Stock Exchange period 2012 to 2017. This research used quantitative research methods with the sample as many as 7 companies. The sampling technique is used,as well as purposive sampling done based on certain criteria. The type of data used is secondary with analysis using panel data regression model with Eviews 10. The result shows that simultaneosly intellectual capital,earning management,and stock returns gave influence on future stock returns as much as 76.15%. Partially,intellectual capital had a positve but not significant,earning management had a negative and significant,stock returns had a positive and significant effects to future stock returns.
关键词：modal intelektual;manajemen laba;imbal hasil saham;makanan minuman
其他关键词：intellectual capital;earnings management;stock returns;food and beverages
