PENGARUH FUNDAMENTAL PERUSAHAAN TERHADAP RETURN SAHAM PERUSAHAAN SUB SEKTOR MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA
DOI:
https://doi.org/10.24843/EJMUNUD.2026.v15.i8.p08Keywords:
leverage; liquidity; market valuation; profitability; stock returnsAbstract
Investasi saham termasuk dalam investasi dengan potensi return yang tinggi searah dengan adanya risiko kerugian dan ketidakpastian. Aspek fundamental yang baik dinilai mencerminkan sinyal positif kinerja manajemen perusahaan yang pada akhirnya berdampak pada meningkatnya return saham. Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas, leverage, likuiditas dan penilaian pasar terhadap return saham. Populasi pada penelitian ini terdiri atas 68 perusahaan sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia selama periode 2022-2024. Metode penentuan sampel yang digunakan dalam penelitian ini adalah metode non-probability sampling dengan teknik purposive sampling sehingga didapat sebanyak 46 sampel perusahaan dan periode penelitian 3 tahun. Data dikumpulkan dari laporan keuangan yang dipublikasikan oleh perusahaan dan situs resmi Bursa Efek Indonesia pada tahun 2022-2024. Teknik analisis data yang digunakan dalam penelitian ini yaitu analisis regresi linear berganda dengan bantuan software SPSS. Hasil penelitian menunjukkan bahwa profitabilitas dan penilaian pasar berpengaruh positif terhadap return saham; leverage berpengaruh negatif terhadap return saham; serta likuiditas tidak berpengaruh terhadap return saham. Hasil penelitian ini dapat menjadi dasar pertimbangan dalam pengambilan keputusan investasi saham bagi investor dan pengambilan keputusan strategis yang berkaitan dengan upaya meningkatkan kinerja fundamental bagi perusahaan guna meningkatkan kepercayaan investor.
Stock investment is a high-return investment with the inherent risk of loss and uncertainty. Good fundamentals are reflect positive signals of company management performance, ultimately leading to increased stock returns. This study aims to analyze the effect of profitability, leverage, liquidity, and market valuation on stock returns. The population in this study is 68 food and beverage sub-sector companies listed on the Indonesia Stock Exchange during the 2022-2024 period. The sampling method used in this study was a non-probability sampling method with a purposive sampling technique, resulting in a sample of 46 companies over a three-year study period. Data were collected from financial reports published by the companies and website Indonesia Stock Exchange for the 2022-2024 period. The data analysis technique used in this study was multiple linear regression analysis with SPSS software. The results show that profitability and market valuation have a positive effect on stock returns; leverage has a negative effect on stock returns; and liquidity has no effect on stock returns. These results can be used as a basis for investors in making stock investment decisions and strategic decisions related to efforts to improve company fundamental performance to bolster investor confidence.
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