Analisis Kinerja Keuangan Terhadap Return Saham Pada Perusahaan Konstruksi

Abstract

Construction companies are one of the investment sectors in Indonesia in the country's economy. However, in recent years, construction sector stocks have experienced fluctuations, which has caused many construction sector issuers to sell their shares. This study aims to examine potential factors in influencing the influence of stock returns on the construction sector listed on the Indonesia Stock Exchange (IDX) in the 2016-2021 period. This research obtained data obtained from financial statements on companies listed on the IDX. Purposive sampling was used in this study in obtaining research samples. Nine companies were used in this study that met the criteria in purposive sampling. Based on the results of chow testing and hausman testing, and for the data analysis method, namely by using panel data regression with fixed-effect models, the results of this study show that the current ratio and total asset turnover have a significant effect on stock returns. However, the return on assets and debt to asset ratio have no effect on stock returns.

Pengaruh Rasio Keuangan, Firmsize dan Makroekonomi Terhadap Return Saham

“…2022;Hariyani dkk. 2018;Saragih & Tan, 2022). Berdasarkan hasil tersebut, hipotesis penelitian ini: H1: CR berpengaruh positif terhadap return saham.…”

“…Semakin rendah tingkat DAR perusahaan, maka pemodal akan makin termotivasi untuk menuntut return saham yang besar, karena perusahaan dinilai mampu untuk menyelesaikan utangnya (Saragih & Tan, 2022). Tabel 7 uji regresi menunjukan bahwa pada uji variabel DAR nilai t-hitung sebesar -0,313 dengan nilai probabilitas sebesar 0,755.…”

“…Hasil analisis DAR ini secara parsial belum sesuai dengan teori sinyal, namun dari hasil ini menandakan bahwa investor juga perlu mempertimbangkan rasio keuangan lainnya dalam penentuan tempat investasinya. Hasil penelitian yang menunjukan arah DAR negatif dan tidak signifikan mendukung penelitian terdahulu (Ristyawan, 2019;Saragih & Tan, 2022;Wijaya dkk. 2020).…”