Pengaruh Return on Assets (ROA), Return on Equity (ROE), Debt Equity Ratio (DER), dan Price Earnings Ratio (PER) terhadap Return Saham Perusahaan Consumer Goods

Dora Gunawan, Indra Widjaja
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Abstract

The purpose of this study was to determine the effect of Return on Assets (ROA), Return on Equity (ROE), Debt Equity Ratio (DER), and Price Earnings Ratio (PER) on stock returns of consumer goods companies. The data in this study were taken from 10 consumer goods companies listed on the Indonesia Stock Exchange. The research period is 4 years, namely 2017 until the second quarter of 2020. The method used in this study is to compare the elements in the financial statements. In this study, the method used to analyze the data is multiple linear regression and hypothesis testing between the dependent variable and the independent variable. ROA, ROE, DER, and PER are independent variables, and stock returns are the dependent variable. Based on hypothesis testing, it can be concluded that ROA and DER have a significant positive effect on stock returns. ROE has a significant negative effect on stock returns. And PER has no significant effect on stock returns. While collectively all variables have a significant effect on stock returns. By knowing financial performance as an indicator for investors before investing in the capital market, fundamental analysis is still an effective tool for investors in selecting stocks.

 

Tujuan dari penelitian ini adalah untuk mengetahui pengaruh Return on Assets (ROA), Return on Equity (ROE), Debt Equity Ratio (DER), dan Price Earnings Ratio (PER) terhadap return saham perusahaan barang konsumsi. Data dalam penelitian ini diambil dari 10 perusahaan consumer goods yang terdaftar di Bursa Efek Indonesia. Periode penelitian selama 4 tahun yaitu tahun 2017 sampai dengan triwulan II tahun 2020. Metode yang digunakan dalam penelitian ini adalah membandingkan unsur-unsur pada laporan keuangan. Dalam penelitian ini metode yang digunakan untuk menganalisis data yaitu regresi linier berganda dan pengujian hipotesis antara variabel dependen dan variabel independen. ROA, ROE, DER dan PER adalah variabel independen, dan return saham sebagai variabel dependen. Berdasarkan pengujian hipotesis, diperoleh hasil yang dapat disimpulkan bahwa ROA dan DER berpengaruh signifikan positif terhadap return saham. ROE berpengaruh signifikan negatif terhadap return saham. Dan PER tidak berpengaruh signifikan terhadap return saham. Sedangkan secara bersama-sama semua variabel berpengaruh signifikan terhadap return saham. Dengan mengetahui kinerja keuangan sebagai indikator bagi investor sebelum berinvestasi di pasar modal, maka analisis fundamental masih menjadi salah satu alat yang efektif bagi investor dalam memilih saham.

Keywords

Return on Assets (ROA); Return on Equity (ROE); Debt Equity Ratio (DER); Price Earnings Ratio (PER); Stock Return

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