Faktor – Faktor Yang Mempengaruhi Return Saham Dengan Harga Saham Sebagai Variabel Moderating Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia

Abstrak

The objective of the research was to find out and to analyze the influence of Return on Equity, Current Ratio, Debt to Assets Ratio, and Return on Assets simultaneously and partially on Stock Return with Stock Price as moderating variable in 144 manufacture companies listed in the Indonesia Stock Exchange in the period of 2012-2016, and 87 of them were used as the samples. The data were processed by using Kaiser-Meyer-Olkin (KMO) test and analyzed by using multiple linear regression analysis. The result of the research showed that Return on Equity, Current Ratio, Debt to Assets Ratio, and Return on Assets simultaneously had significant influence on Stock Return. Partially, Return on Equity had positive but insignificant influence on Stock Return, Debt to Assets Ratio had negative and insignificant influence on Stock Return, Current Ratio had negative but significant influence on Stock Return, and Return of Assets had positive but significant
influence on Stock Return. From the result of the test on moderating variable, it was concluded that Stock Price was not able to moderate the correlation of Return on Equity, Current Ratio, Debt to Assets Ratio, and Return on Assets with Stock Return.