Overall of rate of realized return

Overall of rate of realized return entire pharmaceutical companies were positive, this indicates that the stock price increase was greater than the decline, so it will be beneficial for investors. In other words, shares of pharmaceutical company can be an option to invest

Calculation of the market return in this study using market index data is Composite Stock Price Index (CSPI) during the observation period were obtained from reports Indonesia Stock Exchange (IDX) . Composite stock price index is the sum of all shares listed on the exchange
. The market return can be calculated using the following formula :

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Overall of rate of realized return entire pharmaceutical companies were positive, this indicates that the stock price increase was greater than the decline, so it will be beneficial for investors. In other words, shares of pharmaceutical company can be an option to investCalculation of the market return in this study using market index data is Composite Stock Price Index (CSPI) during the observation period were obtained from reports Indonesia Stock Exchange (IDX) . Composite stock price index is the sum of all shares listed on the exchange. The market return can be calculated using the following formula :

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