PENGARUH DEBT TO EQUITY RATIO, RETURN ON EQUITY, DAN NET PROFIT MARGIN TERHADAP RETURN SAHAM PADA PERUSAHAAN YANG TERDAFTAR DI INDEKS LQ45 PERIODE 2018-2021
DOI:
https://doi.org/10.25170/wpm.v16i1.5904Keywords:
debt to equity ratio, return on equity, net profit margin, return sahamAbstract
This study analyzes the impact of the Debt to Equity Ratio (DER), Return on Equity (ROE), and Net Profit Margin (NPM) on stock returns using secondary data from the LQ45 index for the period 2018 - 2021, available on the Indonesia Stock Exchange (IDX). The sampling technique used was purposive sampling, encompassing 27 companies with a total of 106 data samples. The analytical techniques employed included descriptive statistics and multiple linear regression using SPSS software version 29. The results of the study indicate that the Debt to Equity Ratio (DER) has no significant effect on stock returns, the Return on Equity (ROE) has a significant negative effect on stock returns, and the Net Profit Margin (NPM) has a significant positive effect on stock returns.
References
Anderson, J., Giordani, S. A., Kangnata, S., & Francisca, D. (2021). The Effect of Current Ratio (CR), Debt To Equity Ratio (DER), and Net profit margin (NPM) on Stock Returns in Manufacturing Companies in the Trade, Services, and Investment Sector on the Indonesia Stock Exchange in the 2017-2020 Period. In Enrichment: Journal of Management (Vol. 12, Issue 1).
Darwin, M., Mamondol, R. R., Sormin, S. A., Nurhayati, Y., Tambunan, H., Sylvia, D., et al (2021). Metode Penelitian Pendekatan Kuantitatif. Bandung: Media Sains Indonesia dan Penulis https://www.researchgate.net/publication/354059356
Davidson, C., Hadu, J., Manafe, H. A., & Bibiana, R. P. (2021). Analisis Pengaruh ROA, ROE, dan NPM Terhadap Return Saham (Literature Review Manajemen Keuangan Perusahaan). Jurnal Ilmu Multidisiplin, 5(6), 573–577. https://doi.org/10.38035/jim.v1i4
Dirman, A. (2020). Financial Distress: The Impacts of Profitability, Liquidity, Leverage, Firm Size, and Free Cash Flow. International Journal of Business, Economics and Law, 22(1).
Fredirick Nathanael, R., & Ria Panggabean, R. (2020). Pengaruh Struktur Modal, Profitabilitas, Leverage, Dan Growth Opportunity Terhadap Nilai Perusahaan. BALANCE: Jurnal Akuntansi, 17(2), 175–200. https://doi.org/10.25170/balance.v17i2
Halim, A., Ermaini, E., & Setiawan, A. (2022). Analisis Pengaruh Debt to Equity Ratio (DER), Return on Equity (ROE) dan Nilai Perusahaan Terhadap Return Saham pada Subsektor Property dan Real Estate yang Terdaftar di Bursa Efek Indonesia Periode 2015-2019. J-MAS (Jurnal Manajemen Dan Sains), 7(1), 372. https://doi.org/10.33087/jmas.v7i1.410
Laulita, N. B., & Yanni. (2022). Pengaruh Return On Asset (ROA), Return On Equity (ROE), Debt To Equity Ratio (DER), Earning Per Share (EPS) dan Net profit margin (NPM) terhadap Return Saham pada Perusahaan Yang Terdaftar Di Indeks LQ45. YUME: Journal of Management, 5(1), 232–244. https://doi.org/10.37531/yume.vxix.467
Machali, I. (2021). Metode Penelitian Kuantitatif Panduan Praktis Merencanakan, Melaksanakan dan Analisis dalam Penelitian Kuantitatif (3rd ed.). Yogyakarta:Universitas Islam Negeri (UIN) Sunan Kalijaga Yogyakarta.
Mardiatmoko, G. (2020). Pentingnya Uji Asumsi Klasik Pada Analisis Regresi Linier Berganda. BAREKENG: Jurnal Ilmu Matematika Dan Terapan, 14(3), 333–342. https://doi.org/10.30598/barekengvol14iss3pp333-342
Murdijaningsih, T., Retnowati, D., Jufri, A., & Hadiwibowo, I. (2022, December 7). Pengaruh Earning Per Share, Economic Value Added, Market Value Added, Return On Equity, dan Debt to Equity Ratio Terhadap Return Saham. Majalah Ilmiah Manajemen & Bisnis (MIMB), 19(2), 78–79.
Muslimim, K. (2023). Jurnal Mirai Management Pengaruh DER, ROE, Dan TATO Terhadap Return Saham Perusahaan Metal And Mineral Mining Yang Terdapat Di Bursa Efek Indonesia. Jurnal Mirai Management, 8(1), 219–228.
Pauziantara, I. I., Enas, & Kasman. (2020). Pengaruh Net profit margin (NPM), Earning Per Share (EPS) Dan Return On Asset (ROA) Terhadap Return Saham (Suatu Studi Pada PT Perusahaan Gas Negara Tbk Yang Terdaftar Di BEI Periode 2009-2018). Business and Management Anda Entrepreneurship Journal, 2(3).
Penman, S. H. (2013). Financial Statement Analysis and Security Valuation. (5th ed.) Singapore: McGraw-Hill Irwin.
Pradiana, N., & Yadnya, I. P. (2019). Pengaruh Leverage, Profitabilitas, Firm Size, dan Likuiditas Terhadap Return Saham Perusahaan Sektor Industri Barang Konsumsi. E-Jurnal Manajemen, 8(4), 2239–2266. https://doi.org/10.24843/EJMUNUD.2019.v8.i4.p13
Putu, N. L. A., & Rika, I. C. (2024). Pengaruh Struktur Modal, Profitabilitas, Dan Likuiditas Terhadap Return Saham Perusahaan Sektor Consumer Goods Di Bursa Efek Indonesia. E-JURNAL EKONOMI DAN BISNIS UNIVERSITAS UDAYANA, 12(06), 1207–1215. https://ojs.unud.ac.id/index.php/EEB/
Reschiwati, R., Syahdina, A., & Handayani, S. (2020). Effect of liquidity, profitability, and size of companies on firm value. Utopia y Praxis Latinoamericana, 25(Extra 6), 325–332. https://doi.org/10.5281/zenodo.3987632
Sari, D. I., & Maryoso, S. (2022). Pengaruh DER, ROA dan NPM Terhadap Return Saham Perusahaan Properti Terdaftar Di BEI Periode 2017-2020. YUME: Journal of Management, 2(1). http://jurnal.bsi.ac.id/index.php/profitabilitas
Sovita, I., & Lidia Rosa, M. (2022). Pengaruh Return On Equity (ROE), Debt To Equity Ratio (DER), Dan Net profit margin (NPM) Terhadap Return Saham (Studi Empiris Pada Perusahaan Sub Sektor Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia 2016-2020). Jurnal Penelitian Dan Pengkajian Ilmiah Sosial Budaya, 1(1), 27–45. https://doi.org/10.47233/jppisb.v1i1.371
Suhara, E., Sutisna, E., & Rastini, A. (2022). Pengaruh Profitabilitas Dan Dividend Payout Ratio Terhadap Return Saham. Jurnal Penelitian Multidisiplin Ilmu, 1(3), 491–504. http://melatijournal.com/index.php/Metta
Parawansa, D. S., Rahayu, M., & Sari, B. (2021). Pengaruh ROA, DER, dan SIZE terhadap Return Saham Pada Perusahaan Yang Terdaftar di BEI. Jurnal IKRA-ITH Ekonomika, 4(2).
