DETERMINAN RETURN SAHAM SEKTOR PROPERTI YANG TERDAFTAR DI BURSA EFEK INDONESIA
Abstract
Penelitian ini bertujuan untuk menganalisis pengaruh faktor mikro yang berasal dari internal perusahaan yang terdiri dari Return on Equity (ROE) dan Earning Per Share (EPS) serta faktor makro yang berasal dari eksternal perusahaan yaitu faktor makro ekonomi yang terdiri dari pertumbuhan ekonomi, tingkat suku bunga, dan harga minyak dunia terhadap return saham perusahaan sektor properti yang terdaftar dalam Bursa Efek Indonesia (BEI). Metode purposive sampling digunakan untuk menentukan sampel dalam penelitian ini dengan periode 2012 – 2021 dan data yang dipakai adalah data sekunder. Uji hipotesis yang diaplikasikan dalam penelitian ini adalah teknik analisis regresi data panel dengan program Stata 17 serta tingkat signifikansi yang digunakan adalah 5%. Secara simultan hasil uji hipotesis mengungkapkan bahwa kelima variabel bebas secara bersama – sama berpengaruh signifikan terhadap return saham perusahaan sektor properti yang terdaftar di BEI. Secara parsial ROE dan harga minyak dunia berpengaruh signifikan terhadap return saham perusahaan sektor properti yang terdaftar di BEI, sedangkan EPS, pertumbuhan ekonomi, dan suku bunga tidak berpengaruh terhadap return saham perusahaan sektor properti yang terdaftar di BEI.
This study aims to analyze the influence of micro factors originating from internal companies consisting of Return on Equity (ROE) and Earning Per Share (EPS) as well as macro factors originating from external companies, namely macroeconomic factors consisting of economic growth, interest rates, and world oil prices on stock returns of property sector companies listed on the Indonesia Stock Exchange (IDX). The purposive sampling method was used to determine the sample in this study with the period 2012 - 2021 and the data used was secondary data. The hypothesis test applied in this study is the panel data regression analysis technique with the Stata 17 program and the significance level used is 5%. Simultaneously, the results of the hypothesis test reveal that the five independent variables together have a significant effect on the stock returns of property sector companies listed on the IDX. Partially, ROE and world oil prices have a significant effect on stock returns of property sector companies listed on the IDX, while EPS, economic growth, and interest rates have no effect on stock returns of property sector companies listed on the IDX.
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Copyright (c) 2023 Maulida Armanusa Ramadhafani, Aswin Rivai
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