<![CDATA[AbstrakPenelitian ini bertujuan untuk menganalisis pengaruh likuiditas dengan proksi current ratio (CR) terhadap leverage dengan proksi debt to equity ratio (DER); pengaruh leverage dengan proksi debt to equity ratio (DER) terhadap return saham; pengaruh likuiditas dengan proksi current ratio (CR) terhadap terhadap return saham; pengaruh likuiditas dengan proksi current ratio (CR) terhadap terhadap return saham dimediasi leverage dengan proksi debt to equity ratio (DER). Penelitian ini menggunakan pendekatan kuantitatif dengan jenis penelitian eksplanatori. Data yang digunakan adalah data sekunder yang bersumber dari data keuangan Bursa Efek Indonesia (BEI). Sampel penelitian ini adalah 28 perusahaan dikalikan 5 tahun, sehingga diperoleh 140 sampel data keuangan perusahaan perbankan periode 2016-2020 dengan menggunakan teknik purposive sampling. Teknik analisis data dalam penelitian ini menggunakan analisis jalur. Hasil penelitian ini menunjukkan bahwa likuiditas dengan proksi current ratio (CR) berpengaruh negatif signifikan terhadap leverage dengan proksi debt to equity ratio (DER); leverage dengan proksi debt to equity ratio (DER) berpengaruh positif tidak signifikan terhadap return saham; likuiditas dengan proksi current ratio (CR) berpengaruh positif tidak signifikan terhadap return saham; leverage dengan proksi debt to equity ratio (DER) tidak memediasi pengaruh likuiditas dengan proksi current ratio (CR) terhadap terhadap return saham.Kata Kunci: Likuiditas, Leverage, Return Saham AbstractThis study aims to analyze the effect of liquidity with proxies are the current ratio (CR) on leverage with proxies are the debt to equity ratio (DER); the effect of leverage with proxies are the debt to equity ratio (DER) on stock returns; the effect of liquidity with proxies are the current ratio (CR) on stock returns; the effect of liquidity with proxies are the current ratio (CR) on stock returns mediated by leverage with proxies are the debt to equity ratio (DER). This study uses a quantitative approach with this type of explanatory research. The data used are secondary data sourced from financial data of the Indonesia Stock Exchange (IDX). The sample of this study was 28 companies multiplied by 5 years, in order to obtain 140 sample financial data for banking companies period of 2016-2020 using purposive sampling technique. The data analysis technique in this research is using path analysis. The results of this study indicate that liquidity with proxies are the current ratio (CR) has a significant negative effect on leverage with proxies are the debt to equity ratio (DER); leverage with proxies are the debt to equity ratio (DER) has no significant positive effect on stock returns; liquidity with proxies are the current ratio (CR) has no significant positive effect on stock returns; leverage with proxies are the debt to equity ratio (DER) does not mediate the effect of liquidity with proxies are the current ratio (CR) on stock returns.Keywords: Liquidity, Leverage, Stock Returns]]>
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