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Nicholas Oktavianus
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Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Electrical & Electronics Engineering

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EPS Memediasi Pengaruh ROE Terhadap Return Saham LQ45 Periode 2019-2024 Nicholas Oktavianus; Faradila Meirisa
MDP Student Conference Vol 5 No 1 (2026): The 5th MDP Student Conference 2026
Publisher : Universitas Multi Data Palembang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35957/mdp-sc.v5i1.15379

Abstract

Abstract: This study aims to analyze and explain the effect of Return on Equity (ROE) on Stock Returns with Earning Per Share (EPS) as an intervening variable in companies listed in the LQ45 index during the period 2019-2024. The research population includes 73 companies, with a purposive sampling technique resulting in 28 sample companies (168 observations). The data analysis method uses path analysis and Sobel test assisted by IBM SPSS 26. The results of the study indicate that partially, ROE has a positive and significant effect on both EPS and Stock Returns. However, it was found that EPS does not have a significant effect on Stock Returns. The mediation test results using the Sobel test show that EPS is unable to mediate the effect of ROE on Stock Returns, because the direct effect value is much greater than the indirect effect. This indicates that investors in liquid stocks (LQ45) are more likely to respond directly to equity profitability performance than to earnings per share information in determining their expected returns.
Co-Authors faradila meirisa