ALFIANSYAH, AHMAD (2025) PENGARUH LIKUIDITAS DAN SOLVABILITAS TERHADAP RETURN SAHAMDENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI (Studi pada Perusahaan Minyak dan Gas yang Tercatat di Bursa Efek Indonesia pada Tahun 2019-2023). S1 thesis, Universitas Mercu Buana Jakarta.
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Abstract
The research goals is to analyze the impact of liquidity and solvency on stock returns with profitability as mediator. The research uses a sample of 8 oil and gas companies listed on the Indonesia Stock Exchange from 2019 to 2023, selected from a total population of 21 companies. Data were analyzed using panel regression methods with the assistance of EViews 12 software. The findings indicate that liquidity does not have a complex impact on stock returns. In contrast, solvency and profitability show a positive impact. Further testing on profitability reveals that only solvency plays a significant role, while liquidity does not. Path analysis shows that liquidity influences stock returns through profitability, but the effect of solvency becomes insignificant when mediated by profitability. Keywords: oil and gas, liquidity, solvency, profitability, stock return. Studi ini bertujuan menganalisa dampak likuiditas dan solvabilitas terhadap return saham dengan profitabilitas sebagai variabel mediasi. Menggunakan sampel 8 perusahaan minyak dan gas yang tercatat di Bursa Efek Indonesia selama tahun 2019- 2023, dari total populasi berjumlah 21 perusahaan. Data diolah dengan regresi panel dengan bantuan perangkat lunak EViews 12. Temuan menandakan likuiditas tidak memengaruhi return saham. Sebaliknya, solvabilitas dan profitabilitas memperoleh hasil positif. Uji hipotesis pada profitabilitas menyatakan hanya solvabilitas yang memberikan pengaruh positif, tidak dengan likuiditas. Analisis jalur mengungkapkan likuiditas memengaruhi return saham melalui profitabilitas, namun pengaruh solvabilitas menjadi tidak signifikan saat dimediasi profitabilitas. Kata Kunci: minyak dan gas, likuiditas, solvabilitas, profitabilitas, return saham.
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