The Effect of Current Ratio, Debt to Equity Ratio, Return on Equity and Total Asset Turnover on Stock Returns (Empirical Study on Automotive Sub-Sector Issuers for the Period 2019–2023)
DOI:
https://doi.org/10.000000/belacoss.v1i5.431Keywords:
Current Ratio, Debt to Equity Ratio, Return on Equity, Total Asset Turnover, Stock Return, AutomotiveAbstract
The automotive sub-sector is one of the manufacturing industries that plays a crucial role in supporting national economic growth, particularly through the production and distribution of motor vehicles. However, fluctuations in the stock prices of automotive companies during the 2019–2023 period indicate that internal financial factors may influence investor decisions. This study aims to analyze the effect of Current Ratio, Debt to Equity Ratio, Return on Equity, and Total Asset Turnover on stock returns. The research design used is quantitative with a causal approach. The population in this study consists of 16 automotive sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the 2019–2023 period, with 12 companies selected as the sample using purposive sampling. Data analysis was carried out using panel data regression with the assistance of Eviews 13 software. The results show that Current Ratio, Return on Equity, and Total Asset Turnover have a significant effect on stock returns, while Debt to Equity Ratio does not have a significant effect. This research is expected to serve as a reference for investors and companies in making investment decisions and improving the efficiency of financial performance management in the automotive sub-sector.
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