Pengaruh Nilai Tukar, Profitabilitas, dan Leverage terhadap Return Saham Perusahaan Pertambangan di Indonesia
DOI:
https://doi.org/10.69533/jurilma.volume3number1.589Keywords:
Kurs, Return on Assets (ROA), Debt-to-Equity Ratio (DER), Return SahamAbstract
Hasil penelitian menunjukkan bahwa Return on Assets (ROA) berpengaruh positif dan signifikan terhadap return saham, yang membuktikan bahwa peningkatan profitabilitas perusahaan dapat meningkatkan return yang diperoleh investor. Debt to Equity Ratio (DER) tidak berpengaruh signifikan terhadap return saham, sehingga tingkat leverage perusahaan belum menjadi faktor yang secara langsung memengaruhi perubahan return saham pada perusahaan sektor pertambangan. Sementara itu, Nilai Tukar berpengaruh positif dan signifikan terhadap return saham, yang menunjukkan bahwa perubahan kondisi nilai tukar memiliki keterkaitan dengan pergerakan return saham perusahaan pertambangan. Secara simultan, ROA, DER, dan Nilai Tukar memberikan kontribusi dalam menjelaskan variasi return saham. Nilai koefisien determinasi (R²) sebesar 15,26% menunjukkan bahwa ketiga variabel independen tersebut secara bersama-sama mampu menjelaskan 15,26% variasi return saham, sedangkan 84,74% lainnya dijelaskan oleh faktor-faktor lain di luar model penelitian. Temuan ini menunjukkan bahwa profitabilitas dan kondisi makroekonomi, khususnya nilai tukar, merupakan faktor yang perlu diperhatikan investor dalam menganalisis return saham perusahaan sektor pertambangan.
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Copyright (c) 2026 Muhammad Qustur Fais, Isni Andriana, Taufik, Kemas Muhammad Husni Thamrin (Author)
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