PENGARUH LIKUIDITAS DAN GROWTH OPPORTUNITY TERHADAP RETURN SAHAM YANG DIMODERASI OLEH KURS (STUDI KASUS PADA PERUSAHAAN BARANG KONSUMSI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2015-2019)

Abstract

This study aims is to examine empirically the factors that influence the stock return. Factors tested in this study include liquidity and growth opportunity. Researchers added exchange rates as moderating variables in the study.The study population is a manufacturing company in the consumer goods sector that listed on Indonesia Stock Exchange in the period 2015-2019. The sample of this study was selected with purposive sampling criteria so that 26 non-financial companies were selected from 2015-2019. To test the factors that contribute to the company's value, this study was conducted with Moderated Regression Analysis. The results of this study showed that liquidity and growth opportunity affects the stock return, but the exchange rate has no effect on the stock return. Exchange rates can moderate liquidity against the stock return, but can not moderate the growth opportunity against the stock return.

Keywords: liquidity, growth opportunity, exchange rates, stock return