PENGARUH LIKUIDITAS, PROFITABILITAS, LEVERAGE TERHADAP RETURN SAHAM DENGAN KEBIJAKAN DEVIDEN SEBAGAI VARIABEL MODERASI

  • Ermita Cindy Krismandari
  • Lailatul Amanah
Keywords: liquidity, stock return, dividend policy

Abstract

This research aimed to examine the effect of liquidity, profitability, and leverage on stock return, with dividend policy as an intervening variable while liquidity was referred to Current Ratio, profitability was referred to return on asset, leverage was referred to debt to equity ratio, and dividend policy as an intervening variable which was referred to dividend payout rasio. The research was quantitative with secondary data of companies which were listed on Indonesia stock exchange during 2016-2019 moreover the data collection technique used purposive sampling in line with there were 84 sampels from 21 observations which fulfilled on criteria given furthermore the data analysis technique used multiple linear regression. The research result concluded that liquidity affected stock return on the other hand, profitability did not affect stock return likewise, leverage did not affect stock return meanwhile, dividend policy could not intervene in the effect of profitability on stock return similarly, dividend policy could not intervence in the effect of leverage on stock return on the other hand, dividend policy could not intervene in the effect of liquidity on stock return.
Keywords: liquidity, stock return, dividend policy

Published
2021-09-13