PENGARUH EARNING PER SHARE, DEBT TO EQUITY RATIO DAN RETURN ON EQUITY TERHADAP RETURN SAHAM DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN BIDANG PELAYARAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2016-2019

Abstract

This study aims to determine the effect of earnings per share, debt to equity ratio, return on equity and dividend policy partially on stock returns, the effect of earnings per share, eebt to equity ratio and return on equity partially on dividend policy, the effect of earnings per share. On stock returns through dividend policy, the effect of debt to equity ratio on stock returns through dividend policy, the effect of return on equity on stock returns through dividend policy in shipping companies listed on the Indonesia Stock Exchange for the 2016-2019 period. The population in this study were all shipping companies listed on the Indonesia Stock Exchange for the 2016-2019 period as many as 34 companies, with a total sample of 32 companies. The sampling technique is by using purposive sampling technique. Based on the results of this study, it is known that EPS partially has a significant effect on DPR, DER and ROE partially has no effect on DPR, EPS partially has no effect on stock returns, DER and ROE partially has an effect on stock returns. Path analysis test explains that dividend policy (DPR) can be a mediating variable between EPS variables on stock returns, while dividend policy (DPR) cannot be a mediating variable between DER and ROE variables on stock returns.