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Journal : KEUNIS

THE EFFECT OF FUNDAMENTAL FACTORS, EARNING PER SHARE AND EXCHANGE RATE ON STOCK RETURNS WITH DIVIDEND POLICY AS INTERVENING VARIABELS Agustina, Sri; Purnomo, Listiya Ike
KEUNIS Vol. 10 No. 2 (2022): JULY 2022
Publisher : Finance and Banking Program, Accounting Department, Politeknik Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1170.015 KB) | DOI: 10.32497/keunis.v10i2.3463

Abstract

The purpose of this study was to determine the effect of fundamental factors on earnings per share, exchange rate and dividend policy as intervening variables on stock returns. In this study, fundamental factors are measured using financial ratio. The higher the stock return, the higher the welfare of the shareholders. Increased stock returns will affect potential investors to invest in the company. This study uses a sample of banking companies indexed by infobank15 which are listed on the Indonesia Stock Exchange during the 2016-2020 period. The sampling technique used in this research is the purposive side method, the sample obtained is 9 banking companies indexed by infobank15, using the Eviews.12 analysis method. Based on the results of the study, it shows that the fundamental factors which are proxied by the debt to equity ratio (DER), the exchange rate have an effect on stock returns. While the fundamental factors that are proxied by return on assets, earnings per share and dividend policy have no effect on stock returns. The dividend policy variable is able to mediate the relationship between the fundamental factor variables which are proxied by return on assets and the exchange rate to stock returns. Meanwhile, the dividend policy variable is not able to mediate the relationship between the fundamental factor variables which are proxied by the DER and earnings per share to stock returns.
Co-Authors Abdullah, Umar Husein Adhania, Safira Afdhal, Muhammad Afriani, Sari Agus Atmadipoera Agustin, Weni Akmal, Aulia Al Aziz, Muhammad Daffa Al-Ihsan, Muhammad Tareqh Alia Badra Pitaloka, Alia Badra Altisa, Reysa Previana Anh, Nguyen Thi Mai Ansari, Marzuki Apriani, Sahra Arief Rahman Atikah Adyas Aulia, Rian Aulisti, Elsa Azhary, M. Ichsan Bahari, Yunus Bantali, Ampun Bhakti Yudho Suprapto Cahyani, Yenni Calista, Avisa Chitra Octavina Choiriyah Choiriyah CN, Yudhinanto Cut Husna Daniel Happy Putra Defrian, Angga Dewi Yana, Dewi Dwi Lestari Edri Sumindra emelda, emelda Endiyani, Endiyani Erial Bahar FADILA, NUR Fadlia, Faradilla Fajri, Nova Farinza, Mila fatimah Fatimah Firman Muhammad Nur, Firman Muhammad Fithri, Anjenny Syfha Nabhila Fitri Wulandari Fitria, Syarifa Fransiska, Imelda Gama Satria Gentari, Katri Ginting, Anggi Piramida H, Yohanes Rezky Andrian H.A, Umar Halawa, Irena Mei Darnis Haloho, Kristina Sri Devi br Hamid Hamid Hanifa, Kayyisa Haposan Sirait Hariswan Putera Jaya Hasdi, Hasrul Hera Hikmarika, Hera Heriyana Heriyana Herlina Herlina Herlina Hermawati HERNANI - Hilman Syarif Hodairiyah, Hodairiyah Holiawati, Holiawati Hudri, Zonny Husain, Al Husein Abdullah, Umar Husniah Ika Rezvani Aprita Ilham Ilham Ilvan Zaid Muhlasim Inda Mariana Harahap Indah, Putri Dian Irhami, Irhami Irmawan Irmawan Isnaini, Nadia Izzaty, Nur Jaenudi, Jaenudi Jayawarsa, A.A. Ketut Julianto, Dimas Prastama Kacaribu, Andriy Anta Karsadi, Karsadi Khairun Nisa Khairunnisa Khairunnisa Khotimah, Maryatus Kusnul Koko Ondara, Koko Kurniawan, M. Fakih Linawati Linawati Liria, Giza Lukmawati, Puji Putri Lukmawati, Putri Puji Luthfiah, Yussi Dwi Luthfiyah, Yussi Dwi Luvito, Andi Maqfirah, Siti Mardiani, Diah Margolang, Hikma Kasih Maria Ulfah Marta Pramudita, Marta Martina Martina Martunis, Lukman Masyitah Masyitah Meilisa, Ocha Dwi Mellyzar, Mellyzar Moh. Wardi Mohammad Alwi Ashari Mubarok, Alif Nabil Muh Yusuf Muhammad Hafizin Muhammad Irsad, Muhammad Muhammad Yusup Mulyanti Mulyanti Mulyanti Munthe, Andre Christian Musmulyadi, Musmulyadi Muzakir Nabila Nabila, Agillia Nahadi Nazlia, Suraiya Nilanur, Rania Nisa, Raisatun Niswatul Hasanah, Niswatul Niwatana, Julya Noviansyah Noviansyah, Noviansyah Novitasari, Angel Nur Anissa Nurfadillah Nurfadillah Nurhasanah Nurhasanah Nurkhatijah, Nurkhatijah Nurul Ummi Nuzlia, Cut Oktiana, Oliq Otong, Muhammad Padeli Prajaputra, Vicky Pramesty, Meta Pratama, M. Akbar Pratama, Miftahunajah Aditiya Priyatna, Aufa Irsyad Puji Rahayu Purnomo, Listiya Ike Puspita, Kana Putera Jaya, Hariswan Putri, Dian Utama Pratiwi Putri, Dwi Kemala Rachma Wati, Rachma Rahadatul'aisy, Nadiya Rahayuningsih, Sri Intan Rahma, Elvira Aulia Rahmadi, Silvi Rahmawati, Aryani Rakhmalina, Ika Ramadhaniaty, Mutia Rendyansyah Reza Salima Rizki Rizki Rizki, Sri Ayu Rizkia, Mira Rizqillah, Fahmi Robby Cahyadi Ronauli, Angelita Rosalina Rosalina Royani, Muhamad Ruhiyat, Endang Said Ali Akbar Salih, Yasir Salsabilla, Tania Salsani, Mayang Kurnianing Sandora, Lisna SARIMAN Septiana, Nenty Sinambela, Laisa Sara Sabrina Siregar, Timotius Ferdana Siregar, Yulisa Dewi Siregar, Yusuf Satria Siti Hamidah Siti Nurhalimah Sofyatuddin Karina Suci Dwijayanti sufriani, sufriani Sugiyanto - Sumahiradewi, Luh Gede Syahrul Purnawan Tambunan, Ronaldo Teguh Kurniawan Tuti Mutia Ulfa Ulfa Ulung Jantama Wisha Wurdiyantho, Rio Yohanes, Rudy Yusran Akbar yusran, yusran akbar Yusron Abda'u Ansya Zakiah, Mutiara Zulfakri