ANALYSIS OF BASIC FACTORS AFFECTING STOCK RETURNS OF PROPERTY AND REAL ESTATE COMPANIES IN THE INDONESIAN STOCK MARKET
Keywords:
Stock Return, Debt to Equity Ratio, Total Asset Turn Over.Abstract
This study aims to determine the effect of fundamental factors, namely the Debt to Equity Ratio (DER) and Total Asset Turn Over (TATO) on stock returns on the Indonesia Stock Exchange for the 2016-2020 period. The research design is a causality study. The population of this study uses property and real estate companies that have been and are still listed on the Indonesia Stock Exchange for the 2016-2020 period. The sampling technique was purposive sampling and a sample of 15 companies was obtained. Methods of data collection using documentation techniques. Research data were analyzed using multiple linear regression. Based on the results of data analysis using the partial test (t- test) the Debt to Equity Ratio variable has no effect on stock returns with a significance value of the DER variable that is equal to 0.484 which is greater than 0.05. DER has a negative relationship with returns. The higher the DER ratio, the lower the return generated by the company. Total Asset Turn Over has a positive effect on stock returns with a significance value of the TATO variable which is 0.014 which is smaller than 0.05. The ability of the independent variables in this study to affect the dependent variable by 6.4%, while the remaining 93.6% is explained by variables other than the independent variables in the study.
References
Anggraini, R.D. & Wijayanto, A. (2021). The Influence of Fundamental Factors on Stock Returns with Exchange Rate as Moderation Variable, Management Analysis Journal, 10( 3).
Chhajer et al (2020). Factors Influencing Stock Returns: Evidence From National Stock Exchange, India. International Journal of Management, 11 (5), 2020, pp. 631-643.
Husnan, Suad. (2009). Teori Portofolio dan Analisis Sekuritas, Edisi Keempat. Yogyakarta: STIM YKPN.
Kurniawan, Yohanes Jhony, (2013). “Analisis Pengaruh Earning Per Share (EPS), Debt To Equity Ratio (DER), Return On Asset (ROA), Return On Equity (ROE) Terhadap Return Saham”. Jurnal Universitas Dian Nuswantoro Semarang.
Rahmawati, I. & Asteria, B. (202 1). Analisis Faktor-faktor yang Mempengaruhi Margin Laba Bersih pada Perusahaan, 11 (2), 178-186.
Kusumo, Gian Ismoyo. (2011). “Analisis Pengaruh Rasio Keuangan terhadap Return saham pada perusahaan non-Bank LQ 45”. Jurnal Universitas Diponegoro.
Nathael, Nicky. (2009). “Analisis faktor-faktor yang mempengaruhi Return Saham”. Jurnal Universitas Diponegoro.
Mustaufidah, N & Waluyo, D.E (2022). Pengaruh Net Profit Margin, Return On Equity dan Debt To Equity Ratio Terhadap Harga Saham Pada Perusahaan Property dan Real Estate yang Terdaftar di BEI Periode 2015-2021. Jurnal Mirai Management. Vol 7, No 2 (2022)
Tandelilin, Eduardus. (2001). Analisis Investasi dan Portofolio, Edisi Pertama. Yogyakarta: BPF
Widiastuti, D.A. & Asteria, B. (2019). Faktor Determinan Kemampulabaan Saham Blue Chip Di Bursa Efek Indonesia. Jurnal Kajian Bisnis, 27(1), 1-12.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Muhammad Faiz Fernando, Muhammad Iqbal, Muhammad Hilmy, Muhammad Baihaqi, Beta Asteria
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
