The influence of liquidity, profitability, leverage and operating cash flow toward stock return in consumer goods companies listed at Indonesia Stock Exchange

Anggara, Vella (2020) The influence of liquidity, profitability, leverage and operating cash flow toward stock return in consumer goods companies listed at Indonesia Stock Exchange. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

/ The development of Indonesian stock market has encouraged many companies to publicly issue their stocks. Stock return is the source of motivation for the investors to invest in a company. Stock return can be in the form of actual return, in which an investor can benefit by selling the stock in a higher price. However, the stock for each company has different return. One of the methods to select a company with good performance and financial health is through financial ratio. This research is conducted with the intention to study the influence of current ratio, Debt to Equity Ratio (DER), Return on Equity (ROE) and operating cash flow (OCF) on stock return. This research itself will be conducted in consumer goods industry sector listed in Indonesian Stock Exchange (IDX) main board during the period of 2016 – 2019. This research uses quantitative method with secondary data such as financial statements as the source of data. This research used purposive sampling technique to obtain the 47 selected samples. The data analysis method used in this research is multi linear regression. This research showed the result that ROE has a significant positive influence towards stock return, while DER and OCF have insignificant positive influence towards stock return. Current ratio has an insignificant negative influence towards stock return. Another result also shows that current ratio, ROE, DER, and OCF have significant positive influence towards stock return simultaneously./Perkembangan pasar saham Indonesia telah mendorong banyak perusahaan untuk menerbitkan sahamnya secara publik. Return saham adalah sumber motivasi bagi investor untuk berinvestasi di sebuah perusahaan. Return saham bisa dalam bentuk keuntungan aktual, di mana seorang investor bisa mendapat keuntungan dengan menjual saham di harga yang lebih tinggi. Namun, saham setiap perusahaan menghasilkan return yang berbeda-beda. Salah satu cara untuk memilih sebuah perusahaan dengan performa dan kondisi keuangan yang bagus adalah dengan rasio keuangan. Penelitian ini dilakukan untuk mempelajari pengaruh current ratio, Debt to Equity Ratio (DER), Return on Equity (ROE), dan arus kas operasi (AKO) terhadap return saham. Penelitian ini sendiri berfokus pada perusahaan papan utama di sektor industri barang kosumsi yang terdaftar di Bursa Efek Indonesia (BEI) periode 2016-2019. Penelitian ini menggunakan metode kuantitatif dengan data sekunder seperti laporan keuangan perusahaan sebagai sumber data. Penelitian ini juga menggunakan teknik purposive sampling untuk memperoleh 47 sampel. Metode analisis data yang digunakan dalam penelitian ini adalah regresi multilinear. Hasil penelitian menunjukkan bahwa ROE berpengaruh positif dan signifikan terhadap return saham, sedangkan DER dan AKO berpengaruh positif dan tidak signifikan terhadap return saham. Current ratio berpengaruh negatif dan tidak signifikan terhadap return saham. Hasil lainnya juga menunjukkan bahwa current ratio, ROE, DER, dan AKO secara simultan berpengaruh positif dan signifikan terhadap return saham.

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