Mukhsinah, Syifa Shadinda
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Pengaruh Rasio Keuangan terhadap Return Saham Industri Farmasi di Indonesia Mukhsinah, Syifa Shadinda; Fadila, Arif
Jurnal Akuntansi, Keuangan dan Perpajakan Vol. 8 No. 2 (2025): Edisi Agustus
Publisher : Politeknik Negeri Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51510/jakp.v8i2.2395

Abstract

This study aims to analyze the effect of current ratio, return on equity, return on investment (DuPont), and debt to equity ratio on the stock returns of pharmaceutical companies listed on the Indonesia Stock Exchange during the period 2019–2023. The research employs a quantitative method with a descriptive-verificative approach and purposive sampling applied to 9 companies. Data analysis is conducted using panel data regression with the Ordinary Least Squares (OLS) model via STATA. The results indicate that these four financial ratios do not have a significant impact on stock returns, suggesting that investors tend to focus more on external factors than on the company's internal financial performance.   Abstrak Penelitian ini bertujuan untuk menganalisis pengaruh current ratio, return on equity, return on investment (DuPont), dan debt to equity ratio terhadap return saham perusahaan farmasi yang tercatat di Bursa Efek Indonesia selama periode 2019–2023. Metode yang digunakan adalah kuantitatif dengan pendekatan deskriptif-verifikatif serta teknik purposive sampling yang diterapkan pada 9 perusahaan. Analisis data dilakukan menggunakan regresi data panel dengan model Ordinary Least Squares (OLS) melalui STATA. Hasil penelitian menunjukkan bahwa keempat rasio keuangan tersebut tidak berpengaruh signifikan terhadap return saham, yang mengindikasikan bahwa investor lebih memerhatikan faktor eksternal daripada kinerja keuangan internal perusahaan.