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Analysis of the Influence of Macro Fundamentals, Company Growth, Capital Structure on Stock Returns with Dividend Policy, Financial Performance in Consumer Non-Cyclicals Sector Companies Listed on the Indonesia Stock Exchange in 2021-2024 Linda Afifah; Hwihanus
Socio-Economic and Humanistic Aspects for Township and Industry Vol. 3 No. 2 (2025): Socio-Economic and Humanistic Aspects for Township and Industry
Publisher : Tinta Emas Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59535/sehati.v3i2.523

Abstract

This study aims to analyze the impact of macroeconomic fundamentals, company growth, and capital structure on stock returns, considering dividend policies and financial performance, with a focus on the consumer non-cyclicals sector listed on the Indonesia Stock Exchange from 2021 to 2024. Using quantitative methods, the research employs data from five consumer non-cyclicals companies, analyzed through Smart PLS 4 software. The findings reveal that macroeconomic fundamentals, such as inflation, GDP, and exchange rates, significantly affect stock returns but do not significantly influence dividend policies or financial performance. Company growth, measured by total asset turnover, has a significant negative effect on dividend policies, while it positively influences financial performance, especially Return on Assets (ROA) and Return on Equity (ROE), and negatively affects stock returns. The capital structure, represented by the Debt to Equity Ratio (DER), does not show a significant impact on dividend policies, financial performance, or stock returns. Additionally, financial performance, particularly ROA and ROE, has a significant positive effect on stock returns. This research provides valuable insights for investors and company management in making informed decisions within the consumer non-cyclicals sector. Future studies could explore other sectors and extend the research period for broader applicability.
The Role of Financial Education, Additional Income and Consumption Patterns in Improving the Financial Resilience of Surabaya City Students Feriona Ayurizta Iliyas; Amalia Tizka Zhahrina; Linda Afifah; Devi Nadia Agustina; Maria Yovita R. Pandin
Economy and Finance Enthusiastic Vol. 3 No. 1 (2025): January-June
Publisher : Tinta Emas Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59535/efe.v3i1.511

Abstract

Seeing the development of today's times, quite a lot can be a factor that affects the financial resilience of students. Looking at the facts, the majority of students still have difficulty in managing their consumption patterns and financial arrangements. Therefore, we compile this research to be able to provide understanding as well as useful insights for students in the process of financial management, managing additional income, consumption patterns to hopefully increase financial resilience for students. This research uses a quantitative approach through the Google form survey method that we have distributed to the scope of the city of students in the Surabaya City area. The place of our research and the preparation of this research is in Surabaya, East Java. The results of this study show that there is a relationship between the role of financial education, additional income and consumption patterns in increasing the financial resilience of students. Therefore, it is necessary to teach financial education as early as possible, so that it will increase understanding related to financial literacy for both children, students and adults.