Pengaruh Kinerja Keuangan dan BI Rate terhadap Return Saham Sektor Otomotif Indonesia

Abstract

Penelitian ini bertujuan mengetahui pengaruh kinerja keuangan profitabilitas (return on equity-ROE dan net profit margin-NPM), solvabilitas (debt to equity ratio-DER) dan proxy macro-risk (BI rate) terhadap return saham otomotif di Indonesia. Penelitian menggunakan laporan keuangan triwulan perusahaan otomotif di Bursa Efek Indonesia. Penyampelan menggunakan metode purposive sampling dan analisis regresi berganda. Hasil analisis menunjukkan bahwa variabel ROE berpengaruh positif dan signifikan terhadap return, NPM tidak memengaruhi return, DER dan BI rate berpengaruh negatif terhadap return. Konklusi: profitabilitas berpengaruh positif terhadap return menunjukkan apresiasi investor terhadap kinerja manajemen; sedangkan solvabilitas memberikan efek negatif karena struktur modal sudah melebihi target optimalnya; dan BI rate juga berpengaruh negatif karena meningkatkan beban bunga perusahaan

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