Inovbiz : Jurnal Inovasi Bisnis
Vol 13 No 1 (2025)

The Effect of Return on Asset, Debt to Equity Ratio, and Current Ratio on Stock Returns with Dividend Policy as an Intervening Variable

Eva Emilia Suci Helmiawati (Panca Marga University)



Article Info

Publish Date
30 Jun 2025

Abstract

This research aims to examine the influence of return on asset, debt to equity ratio, and current ratio on stock returns with dividend policy as an intervening variable in mining companies listed on the IDX for the 2020-2022 period. The type of research used is quantitative research with a descriptive approach. The population in this research are mining companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2022 period. Sample determination was carried out using the purposive sampling method. The data source used in this research comes from secondary data in the form of company financial reports. The data collection technique uses the documentation method. The data analysis technique used is the outer model test and inner model test. The result of this test show that return on asset and debt to equity ratio have an effect on stock returns, the current ratio has no effect on stock returns. Return on asset, debt to equity ratio, and current ratio have no effect on dividend policy, dividend policy has an effect on stock returns, and dividend policy as an intervening variable cannot mediate return on asset, debt to equity ratio, and current ratio on stock returns.

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Journal Info

Abbrev

IPB

Publisher

Subject

Description

Jurnal Inovasi Bisnis (Inovbiz) focuses on how we gain knowledge through innovation and how knowledge encourages the innovation both in economics and business. It is provided for writer, researcher, professor, and practitioner who want to publish their research reports or articles, theoritical or ...