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All Journal International Journal of Public Budgeting, Accounting and Finance
Ginting, Andreasta
Asosiasi Dosen Akuntansi Indonesia
Economics, Econometrics & Finance

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ANALYSIS OF RETURNS OF FACTORS TO SHARE RETURNS WITH DIVIDEND POLICY AS A VARIABLE OF MODERATION OF COMPANY CONSUMER GOODS REGISTERED IN INDONESIA STOCK EXCHANGE Ginting, Andreasta
International Journal of Public Budgeting, Accounting and Finance Vol 2 No 2 (2019): Journal of Public Budgeting, Accounting and Finance
Publisher : Asosiasi Dosen Akuntansi Indonesia

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Abstract

This study was conducted to test and analyze fundamental factors on stock returns with dividend policy as a moderating variable in consumer goods companies listed on the Indonesia Stock Exchange (IDX) for the period 2011-2015. The type of research used by researchers is causal research. The population in this study amounted to 36 companies listed on the Indonesia Stock Exchange in the period 2011-2015 with a total sample of 26 companies, Data analysis techniques used in data processing using multiple linear regression analysis techniques and residual tests with the least squares equation and hypothesis testing using F-statistics to test the effect simultaneously and t statistics to test the partial regression coefficient with a significant regression level of 5%. The results showed that Fundamental Factors (Current Ratio, Debt to Equity Ratio, Return On Assets, Earning Per Share and firm size) simultaneously had an effect on stock returns. Partially Fundamental Factors (Return On Assets) have a significant effect on stock returns, while Fundamental Factors (Current Ratio, Debt to Equity Ratio, Earning Per Share and Firm Size) do not significantly influence stock returns. Dividend policy is able to moderate the relationship of Fundamental Factors (Current Ratio, Debt to Equity Ratio, Return On Assets, Earning Per Share and Firm Size) to the stock returns of consumer goods companies.
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