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This research aims to determine the influence of return on assets, return on equity, and net profit margin against stock valuation reflected with the price earning ratio and its impact on the price to book value of retail trade companies listed on the Indonesia Stock Exchange period 2009-2018. The method used in this research is a descriptive method of analysis with a quantitative approach. The type of data used in this study is secondary data. The population in this research is a trade retail company listed on the Indonesia Stock Exchange period 2009-2018, consisting of 31 retail trade companies. Sampling technique used in this research is purposive sampling technique, with certain predefined criteria, which obtained 11 trade retail companies that meet the criteria. The analytical technique that will be used in this study is a double linear regression analysis technique that expanded by a method of pathway analysis to obtain a thorough picture of the relationship between one variable and another variable. The results found that a partial return on asset variable, return on equity, and net profit margin had a significant influence on the price earning ratio, and the price earning ratio also had a significant influence on price to book value.

This research aims to determine the influence of macroeconomic variables on stock return and its impact on corporate values. The population in this research is the sector of agriculture because based on the results of the sector's observation, the most severe decline in performance among others. Further sampling is done by the purposive sampling method, so from 22 companies that listings only 15 companies that meet the criteria. The analytical technique to be used in this study is to use a double linear regression analysis technique expanded with a pathway analysis method to obtain a comprehensive picture of the relationship between variables of one variable with other. We find is an inflation and interest rate negatively and significantly affecting the return of shares. The exchange rate positively and significantly affects the stock return and the influential stock return rate positively and significant to the corporate values.

Universal banks combine commercial loan services and public deposit functions with investment, and other services such as home and auto financing, mutual funds, pension and insurance to name a few. The importance of universal banks have been recognized in emerging economies, and its growth spur economic growth and development of many countries in the world. Most universal banks are listed in stock exchanges, and as financial intermediaries, not only these banks expand their already wide portfolios but they allow more global investors into the fold, almost like a foreign direct investor, the difference only is, the investor don’t have to leave the home country. Since these banks are considered to be among the key players in stock markets, and this study seeks to understand what factors drive their performance in stock exchange so that global investors be aided in making investment decisions on universal banks.

Universal banks are important economic drivers in the Philippines since they provide the financial backbone for businesses and investments. Universal banks comprise 90% of the country’s banking system resources. Eleven [11] of the twenty-one [21] universal banks in the country are listed in the Philippine Stock Exchange, and these banks are the top universal banks based on capitalization. Price to Earnings Ratio [PER] is a commonly utilized investment assessment tool and this ratio indicates how much investors are willing to pay for a stock and is calculated as the ratio of the stock price over earnings per share. Since the stock price is dictated by the stock market, this paper seeks to determine if the P/E ratio of universal banks in the Philippines is correlated to its stock returns, the implication of which is how to form an appropriate balance between stock price volatility and banks’ valuation. The paper uses panel data of the 11 listed universal banks from 2010 to 2018, using Pearson Correlation. The study resulted in a generally weak correlation, however, there were banks that exhibited strong, positive, significant correlation.

Price-Earning Ratio or P/E Multiple is a widely used, straightforward investment assessment tool in developed countries. However, the method has not been utilized as much in stock market performance analysis in developing countries such as the Philippines. Using the top ten universal banks in the country, this paper utilized Price-Earnings Ratio [PER] as valuation tool and dependent variable, and sought to determine its value drivers. Used as independent variables are macroeconomic variables gross domestic product [GDP] growth rate, inflation rate, annual interest rate; stock market index Philippine Stock Exchange [PSEi]; and firm-specific variables return on equity [ROE], growth rate of ROE, growth rate of earnings per share, dividend payout ratio [DPO, growth rate of income, and price-book value [PBV] ratio. Results showed that among the independent variables, ROE, PBV ratio, and PSE index are statistically significant. The model’s (R2) is 63.7%, which is a fairly good fit.