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Pengaruh leverage, efisiensi dan ekspektasi pertumbuhan laba pada market-beta

This paper empirically investigates the determinants of stocks' market-beta. Based on previous research and our predictions, we develop a pooled regression model to test the impact of operating leverage, financial leverage, firm efficiency, and firm expected growth on market-beta. The sampel consists of stocks consistently included in the LQ45 index for the period of 2000-2004. The results indicate that operating leverage and expected growth both show significat positive impact on market-beta. Firm efficiency shows significat negative effect on market-beta, while financial leverage does not show any significant impact on market-beta.Printed Journal

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