Pengaruh Kinerja Keuangan Terhadap Return Saham Dampaknya Terhadap Financial Destress Pada Perusahaan Sektor Logam Terdaftar Di Bei Tahun 2014 - 2018

Abstract

This study aims to determine the effect of the independent variables on the dependent variable, namely financial performance (return on assets, earnings per share, net profit margins, debt equity ratio) and stock returns the impact on financial distress (bankruptcy) on metal manufacturing companies listed in The Indonesia Stock Exchange in 2014-2018 was good. The analysis method uses the path analysis method with stock return variable as a mediating variable. The results showed that financial performance variables (ROA, EPS, NPM, DER) simultaneously had a positive and significant effect on stock returns based on the value of Fcalculate, where F arithmetic> F table (43,908> 2.58) and a significant value of sig 0 .00 <0.05. Financial performance variables (ROA, EPS, NPM, DER) simultaneously have a positive and significant effect on Financial Destress (Z-core) based on the calculated F. value, where F count> F table (15.761> 2.58). Stock Return variable partially has a positive and significant effect on the Financial Destress variable based on the value of t arithmetic where t arithmetic> t table (2.505> 1.666), a significance of 0.015 <0.05.