Pengaruh Kinerja Keuangan Terhadap Return Saham Dengan Inflasi Sebagai Variabel Moderasi (Studi Empiris Pada Perusahaan Sub Sektor Farmasi Yang Terdaftar Di BEI Periode 2017-2023)

Wulandari, Anishah (2024) Pengaruh Kinerja Keuangan Terhadap Return Saham Dengan Inflasi Sebagai Variabel Moderasi (Studi Empiris Pada Perusahaan Sub Sektor Farmasi Yang Terdaftar Di BEI Periode 2017-2023). Sarjana (S1) thesis, Universitas Islam 45.

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Abstract

This study aims to prove the effect of Current Ratio, Debt to Equity Ratio, Return on Assets, total assets turnover, on stock returns with inflation as a moderating variable in pharmaceutical sub-sector companies listed on the IDX for the period 2017-2023. The method used in this study is a quantitative method. The sample of this study uses a purposive sampling method with data sources obtained from annual financial reports, with a population of pharmaceutical sector companies that have been listed on the Indonesia Stock Exchange during the period 2017-2023, as many as 7 companies for seven years, so that 49 data samples were obtained used in the study. Data analysis was carried out using the data analysis method using panel data regression and using Moderated Regression Analysis (MRA) with a Fixed effect model and processed using the help of Eviews 12 software. The results of the hypothesis test show that CR has an insignificant positive effect on stock returns, while DER, ROA, TATO have a significant positive effect on stock returns. Simultaneously, financial performance significantly affects stock returns. The results of the MRA test show that inflation, as a macroeconomic factor, can moderate the relationship between DER, ROA and TATO on stock returns, but cannot moderate the relationship between CR and stock returns.

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