Analisis Pengaruh Rasio Likuiditas, Profitabilitas, Dan Solvabilitas Terhadap Return Saham Pada Perusahaan Non Bank LQ 45

Abstract

This research was conducted to analyze the influence of liquidity, profitability, and leverage ratios on stock returns of non-bank companies listed in the LQ 45 index during the period of 2020-2022. The sample data for this study consists of 16 companies. This study employs a quantitative approach with panel data regression analysis. The three ratios analyzed in this study are the Current Ratio (CR) as an indicator of liquidity, Return on Equity (ROE) as an indicator of profitability, and Debt to Equity Ratio (DER) as an indicator of leverage.

The results show that CR has a significant positive effect on stock returns, ROE has a significant positive effect on stock returns, and DER also has a significant positive effect on stock returns. These three ratios simultaneously have a significant impact on the stock returns of non-bank companies in the LQ 45 index, with an Adjusted R² of 54.67%. This indicates that these three financial ratios can explain 54.67% of the variability in stock returns, while the remaining percentage is influenced by other factors outside the research model. This study provides valuable insights for investors in considering financial ratios when making investment decisions. Additionally, this study contributes theoretically by reinforcing empirical evidence on the impact of financial ratios on stock returns.