Telecom Companies' Stock Returns Boosted by Key Financial Indicators in Indonesia.
The study looked at factors influencing stock returns of telecommunications companies on the Indonesia Stock Exchange from 2012 to 2016. They found that debt to equity ratio (DER) and return on assets (ROA) had a positive impact on stock returns, while earnings per share (EPS) and market share (MS) did not. When considered together, these factors explained 82.44% of the variation in stock returns during the period studied.