The Effect of Current Ratio, Debt to Equity Ratio, and Return on Assets on Stock Returns (Study of Publicly Listed Property and Real Estate Companies Listed on the Indonesia Stock Exchange in 2018-2023)
DOI:
https://doi.org/10.000000/belacoss.v1i5.397Keywords:
Current Ratio, Debt to Equity Ratio, Return on Assets, Stock ReturnsAbstract
This research aims to analyze the effect of Current Ratio (CR), Debt to Equity Ratio (DER), and Return on Assets (ROA) on stock returns in property and real estate companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2023. The approach used in this study is a quantitative approach with a causality research design. The research sample was determined using a purposive sampling method, and obtained 12 companies from a total of 92 listed companies. The data analysis technique used is panel data regression with the help of EViews 13 software. The results show that the DER variable has a positive and significant effect on stock returns, indicating that the higher the level of leverage, the higher the return received by investors. Meanwhile, the ROA variable has a positive but insignificant effect on stock returns, indicating that profitability has not been a major factor considered by investors in this sector. Meanwhile, the CR variable has a negative and insignificant effect, which means that the level of company liquidity does not directly affect stock returns in property and real estate companies.
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