The Effect of Liquidity and Profit Management of Stock Returns in Manufacturing Companies that have been an IPO with its Size as a Moderated Variable 2012-2017

This purpose of this study was to examine the effeect of liquidity and earnings management on stock returns with company size as a moderating variable. The total population of this study is 142 companies with a total sample of 57 manufacturing companies listed on the Indonesia Stock Exchange and have conducted an IPO for the period 2012-2017. The data used is secondary data from various trusted sources. The sampling technique used was the purposive random sampling method. Including the independent variables are liquidity and earnings management while the dependent variable is stock returns and moderator variables are company size. Data collection in this study uses the documentation method. The method of analysis of this study uses multiple linear regression analysis and t test. Based on the t test shows that (1) liquidity has a significant effect on stock returns (2) earnings management has an effect on stock returns (3) liquidity that is moderated by company size has an influence on stock returns and (4) earnings management moderated by company size does not affect stock returns.