Pengaruh Rasio Profitabilitas dan Solvabilitas Terhadap Return Saham dengan Tingkat Inflasi Sebagai Variable Moderasi Pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia

Abstract

Stock Return is the rate of return received by shareholders for investments made in the company in the form of dividends. Profitability ratios are the company's ability to produce what is seen from share capital, the level of sales and assets (assets) owned. The solvency ratio is the company's ability to pay off long-term and short-term liabilities in financing company assets. The rate of inflation is the tendency of increasing prices of goods in general and continuously resulting in the price of other goods immediately rising. This study aims to determine the effect of Profitability and Solvability Ratios on Stock Returns both partially and simultaneously with the Inflation Rate as Moderation Variables in Food and Beverage Companies listed on the Indonesia Stock Exchange. The type of research used in this study is associative research, namely research conducted to find the relationship between a variable with other variables. The type of data used is Quantitative Data. The data source used in this study is Secondary Data. The population used in this study is 16 food and beverage companies listed on the Indonesia Stock Exchange in 2012-2016. A sample of 10 food and beverage companies with criteria reported their financial statements for 5 consecutive years. The company data must be complete and in accordance with the variables studied. Data collection techniques used in this study are Documentation Techniques. Data Analysis Techniques used in this research are Classic Assumption Test, Simple Linear Regression, Multiple Linear Regression, and Hypothesis test (R2 Test, T-Test, F-Test). The results of this study show partially the Profitability Ratio (ROE) has no effect on the Calculated Stock Return <Ttable ie (0.082 <2.01174), Solvency Ratio (DER) does not affect the Calculated Stock Return <Ttable ie (0.089 <2.01174) . Simultaneously Ratio Profitability and solvency do not affect the Stock Return Fcount 2.021 <Ftable 2.79. Inflation rate cannot moderate the Profitability Ratio to Stock Returns. The Inflation Rate cannot moderate the Solvency Ratio to Stock Returns.