PENGARUH CURRENT RATIO, DEBT TO EQUITY RATIO, DAN RETURN ON ASSET TERHADAP RETURN SAHAM DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN SUB SEKTOR TRANSPORTASI YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2016-2020

Abstract

Return is one of the indicators to assess the prosperity (wealth) of a company and
shareholders. The purpose of this study was to determine the effect of the current ratio, debt to
equity ratio and return on assets on stock returns with firm size as a moderating variable in the
transportation sub-sector companies listed on the Indonesian stock exchange in 2016-2020. The
sampling method of this research is purposive sampling and obtained as many as 10 samples that
meet the criteria of 47 companies that become observation data. The analytical technique used in
this research is Moderated Regression Analysis. The results of this study indicate that the current
ratio, debt to equity ratio, return on assets and company size partially affect stock returns. Firm
size significantly weakens the effect of the current ratio on stock returns, significantly strengthens
the effect of the debt to equity ratio on stock returns and significantly weakens the effect of return
on assets on stock returns. The results of the coefficient of determination test showed that the
independent variable, moderating variable and the interaction of the two variables were only able
to explain the dependent variable by 50.6%, while the remaining 49.4% was explained by other
variables not explained in this study.