Perngaruh Kinerja Keuangan terhadap Return Saham (Studi Empiris Pada Perusahaan Real Estate Dan Property Yang Terdaftar Di Bursa Efek Indonesia Periode 2015-2019)

Abstract

The purpose of this study was to determine the effect of financial performance taken from Debt to Equity (DER) and ROE (Return on equity) empirically on stock returns. This study examines the independent variable, namely profitability taken from Debt to Equity (DER) and ROE (Return on equity), and the dependent variable, namely Stock Return. This research was conducted on Property, Real Estate and Building Construction sector companies listed on the Indonesia Stock Exchange for the 2015-2019 period. The study was conducted on 74 companies in the Property sector and only 10 companies met the sampling criteria. The research data is secondary data in the form of financial statements of 10 property sector companies published on the IDX. The study analyzed the relationship between financial performance and the variables Debt to Equity (DER) and Return on Equity (ROE) with stock returns. The statistical method used is multiple linear regression by testing the classical assumptions first. Partial test results (t test) obtained Debt to Equity (DER) known t-count (-0.561) < t-table (2.0117) and Sig. (0.577)>0.05. This means that the Debt to Equity (DER) variable has no effect on stock returns. while Return On Equity (ROE) is known t-count (1.260) < t-table (2.0117) and Sig. (0.214)>0.05, which means that the Return On Equity (ROE) variable has no significant effect on stock returns in Property, Real Estate and Building Construction sector companies listed on the Indonesia Stock Exchange for the 2015-2019 period. The results of the multiple linear regression test are Y = -13.790+ (-0.015)X1+ 0.921X2 + e, it is known that the value of constant (a) is -13,790 and the value of the DER variable is (-0.015) where every one unit increase in stock return will decrease the performance value. financial value of (-0.015), and ROE of 0.921 where each increase in ROE of one unit will increase the value of stock returns by 0.921. The results of the R Square test are known that the R Square value is 0.034or 3.4%, which means that the DER and ROE variables only affect stock returns of 3.4%. The rest of 96.6% is influenced by other variables that are not included in the study