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Journal : indo-mathedu intellectuals journal

Pengaruh Tingkat Suku Bunga dan Nilai Tukar Terhadap Return Saham dengan Profitabilitas Sebagai Variabel Intervening pada Perusahaan Perbankan yang Terdaftar di BEI Periode 2020–2024 Irawan, Fajar Rayhan Putra; Yenni, Zefri; Yeni, Fitri
Indo-MathEdu Intellectuals Journal Vol. 7 No. 2 (2026): Indo-MathEdu Intellectuals Journal
Publisher : Lembaga Intelektual Muda (LIM) Maluku

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54373/imeij.v7i2.5237

Abstract

This study aims to analyse the effect of interest rates and exchange rates on stock returns with profitability as an intervening variable in banking companies listed on the Indonesia Stock Exchange for the period 2020–2024. This study uses a quantitative approach with an explanatory research type. The research population includes all banking companies listed on the IDX, with purposive sampling techniques resulting in a sample of 27 companies. The data used is secondary data obtained from annual financial reports and related official publications. The data analysis method used path analysis with the help of statistical software to test the direct and indirect effects between variables. The results showed that interest rates did not have a significant effect on profitability, while exchange rates had a significant effect on profitability. Interest rates and exchange rates did not have a significant direct effect on stock returns. Profitability was found to have a significant effect on stock returns. Furthermore, interest rates have a significant effect on stock returns through profitability as an intervening variable, while exchange rates do not show a significant indirect effect through profitability. These findings indicate that profitability plays an important role in bridging the influence of macroeconomic factors on banking stock returns.
Co-Authors ', M. Nababan Afriany, Afriany Afriza Afuan, Muhammad Agam Mei Yudha Agung Ramadhanu Al Faisal, Aldy Al Fitasari, Anggi Alfiana, Yulia Amellia Putri Willyam Andre Ilyas Anggraini, Nova Annisa Rama Jufri Ardian Adi Putra, Ardian Adi Arsyabil, Trisya Ashri Rahmatika Firdaus Asmaria Putri, Della Astrid Putri Pratama Aulia Fitri, Nadha Azizi, Putri Charli, Chintya Ones Crefioza, Omia Daturrahmi, Sayyi Dian Mawaddah Naibaho Dianda, Alya Maghfira Diyah Feronika Dodi Suryadi Dona Meidini Edriani, Devi Elfiswandi, Elfiswandi Eliza Eliza Eliza Emil Salim Erwin H Harahap Fadly Azhar Fahimah , Etsa Farel Olva Zuve Gusnadi Erwin Gustika, Roza Hadi Irfani Hadi Syahputra Hadi, Hamdy Hamdy Hadi Hanifah Rifqia Zain Hanna Pratiwi Hapzi Ali Harmelia Haryani Haryani Hasmaynelis Fitri Heri Retnawati Hutapea, Noftalia Irawan, Fajar Rayhan Putra Irfandi Saputra Irma Elfia Isfita, Vinda Juita Sukraini Jumailis, Mutia Fitri Kafrianti, Fredella Azaria Khairunnisa Zahira Asri Latifah, Jihan Lusiana Lusiana Maison, Witra Manja Amanda Mardhiah Masril Mayliza, Riri Melani Putri, Risa Melta, Diki Jasrizal Miftahul Khair Monit, Ardian Tri Muhammad Fikri Ramadhan Muhammad Ridwan Muhammad Yasri Mulyani, Siti Rizki Mulyani, Sitti Rizki Mutia Rahmi Putri mutiara mutiara Nabila Aufa Zahira Nasution, Hendra Neldi, Mondra Nelvia Nelvia Neni Sri Wayuni Ningsih Ningsih, Selfi Hastria Noftalia Hutapea Nola, Silvia Nur Hidayanto Pancoro Setyo Putro Nurhamzah Nurul Syahira Nuryati, Arnita Ohca Marcita Ovie Syafna Putri pitoyo, rubianto Putra, Ramdani Bayu Putri, Nabila Ulfa Maharani Putri, Rita Dwi Rahmadani, Nurul Rahmadhani, Intan Rahmi Atul Ahda Resyelly Viona Rian Safitri Riche Fermayani Rika Wahyuni Risetadi, Aslan Hari Rodi Rodi Ronni Andri Wijaya Rosa Citra Dewi Ryan Sukandi Sarumaha Sari, Lola Fitria Sari, Rr Putri Intan Permata Sari, Selvia Yona Seftiyani, Friska SELFI HASTRIA NINGSIH Selvi Yona Sari SIGIT SANJAYA, SIGIT Silva Andani Prita, Silva Siti Sarah, Siti Sitti Rizki Mulyani Sitti Rizki Mulyani Sumiarti, Marila Susriyanti, Susriyanti T. Romi Marnelly Tri Rahayuningsih Trinanda, Zikri Unpris Yastanti Vinda Isfita Wijaya3, Roni Andri Winanda, Dea Jenia Yagus Valentino Harefa Yasir Alsamiri Yasri, Muhammad Yerismal Yesriva Nursyam Yosi Puspita Sari Yulasmi Yulia Yosi Yuliza, Mai Yusvi Diana Zefri Yenni Zefri Yenni Zerni Melmusi Zulbadri, Zulbadri Zulfani Sesmiarni Zulvianti, Nora