Paper Title
Indonesian Defensive Shares Evidence on Firm Size, Dividend Payout Ratio and Stock Returns

The aims of this research is to find evidence on Indenesian Defensive sector shares behaviour regarding Firm Size, Cash Flow Performance and their effect to stock returns. Firms Size is measured by Log Total Asset, whilst Financial Performance is proxied with Devidend Payout Ratio. This research took samples from consumer goods subsector in Indonesian Stock Exchange for the period 2013 to 2016. Multiple Linear Regression Analysis is used to investigate the relationship among those variables. Findings on this research shows that there is no significant influence of Firm Size and Dividend Payout Ratio overStock Returns. Keywords - Firms Size, Cash Flow, Devidend Payout Ratio, Stock Returns, Defensive Sectors