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The long-term goal to be achieved in this research is to analyze stock prices by using firms performance and earnings management in the consumption sector manufacturing companies on the Indonesia Stock Exchange. Firm performance uses profitability proxies measured through Return On Assets (ROA) and leverage measured through Debt to Equity Ratio (DER), while the proxy for earnings management used is the actual specific model, namely working capital accruals. The stock price used in this study is the stock price one week after the publication date of the 2016-2018 financial statements. The results of the study indicate that the performance of companies proxied through ROA and DER is able to have a significant positive effect on stock prices in registered manufacturing sector manufacturing companies on the Indonesia Stock Exchange. The results of this study prove that investors are very concerned about the information contained in the financial statements published by the company, especially information about profits or profits obtained by the company and the debt used by the company for its operations, while earnings management is able to give an influence but not significant on stock prices. This means that investors do not respond to information, including accruals in the financial statements.

EFFECTIVENESS OF FIRM PERFORMANCE AND EARNINGS MANAGEMENT TO STOCK PRICES