| LQ-45 is a list of 45 best companies from various line of business which are listed in Bursa Efek Jakarta (BEJ) and Bursa Efek Surabaya (BES). They assumed to be the best for their liquidity values and capital market size. The aim of this research is to explore the effect of company values to the return rate using price earning ratio as moderate variable. Samples are drawn from companies listed in LQ-45 index, from 2002-2005. This research found that market book ratio had a significant effect to companies' return, while price earning ratio was on the opposite. Price earning ratio was not considered as moderate variable, based on this research. |