YURSALDI, RIYADH (2025) PENGARUH CURRENT RATIO, DEBT TO EQUITY RATIO, DAN RETURN ON ASSETS TERHADAP RETURN SAHAM (Studi Pada Perusahaan Go Public Sektor Property dan Real Estate yang Tercatat di Bursa Efek Indonesia pada Tahun 2018 - 2023). S1 thesis, Universitas Mercu Buana Jakarta.
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Abstract
This research aims to analyze the effect of Current Ratio (CR), Debt to Equity Ratio (DER), and Return on Assets (ROA) on stock returns in property and real estate companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2023. The approach used in this study is a quantitative approach with a causality research design. The research sample was determined using a purposive sampling method, and obtained 12 companies from a total of 92 listed companies. The data analysis technique used is panel data regression with the help of EViews 13 software. The results show that the DER variable has a positive and significant effect on stock returns, indicating that the higher the level of leverage, the higher the return received by investors. Meanwhile, the ROA variable has a positive but insignificant effect on stock returns, indicating that profitability has not been a major factor considered by investors in this sector. Meanwhile, the CR variable has a negative and insignificant effect, which means that the level of company liquidity does not directly affect stock returns in property and real estate companies. Keywords: Current Ratio, Debt to Equity Ratio, Return on Assets, Stock Return. Penelitian ini bertujuan untuk menganalisis pengaruh Current Ratio (CR), Debt to Equity Ratio (DER), dan Return on Assets (ROA) terhadap return saham pada perusahaan sektor properti dan real estate yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2018 hingga 2023. Pendekatan yang digunakan dalam penelitian ini adalah pendekatan kuantitatif dengan desain penelitian kausalitas. Sampel penelitian ditentukan menggunakan metode purposive sampling, dan diperoleh sebanyak 12 perusahaan dari total 92 perusahaan yang terdaftar. Teknik analisis data yang digunakan adalah regresi data panel dengan bantuan software EViews 13. Hasil penelitian menunjukkan bahwa variabel DER berpengaruh positif dan signifikan terhadap return saham, yang mengindikasikan bahwa semakin tinggi tingkat leverage, semakin tinggi pula return yang diterima investor. Sementara itu, variabel ROA memiliki pengaruh positif namun tidak signifikan terhadap return saham, yang menunjukkan bahwa profitabilitas belum menjadi faktor utama yang dipertimbangkan investor dalam sektor ini. Sedangkan variabel CR berpengaruh negatif dan tidak signifikan, yang berarti tingkat likuiditas perusahaan tidak secara langsung memengaruhi return saham pada perusahaan sektor properti dan real estate. Kata Kunci: Current Ratio, Debt to Equity Ratio, Return on Assets, Return saham
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