FAKTOR YANG MEMPENGARUHI RETURN SAHAM DENGAN MODERATOR KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR
Main Article Content
Abstract
This research aims to see how the influence of firm size, leverage, and investment
opportunity settings on stock returns with dividend policy as a moderating variable in
manufacturing companies listed on the Indonesia Stock Exchange during 2017-2019. The
sample was selected by purposive sampling method and the valid data were 52 companies.
The data processing technique uses multiple regression analysis assisted by the EViews 10
and Microsoft Excel 2010 programs. The results of this study indicate that the influence
and investment opportunities have a significant effect on stock returns, and dividend policy
is able to moderate the effect of established investment opportunities on stock returns. The
implication of this research is the need for investors to pay attention to the level of debt that
the company uses in financing the company's operating activities, as well as the size of the
set of investment opportunity set the company has which can affect the stock returns that
investors will receive.
Article Details
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