PENGARUH INFLASI, SUKU BUNGA, RETURN ON ASSET (ROA) DAN DEBT TO EQUITY RATIO (DER) TERHADAP RETURN SAHAM

(STUDI EMPIRIS PADA PERUSAHAAN PROPERTY DAN REAL ESTATE YANG TERCATAT DI BURSA EFEK INDONESIA PERIODE 2011 – 2016)

Abstract

ABSTRACT
The purpose of this research is to determine the effect of Inflation, Interest Rate, Return on
Assets (ROA) and Debt to Equity Ratio (DER) on Stock Returns on Property and Real Estate
Companies Listed on the Indonesia Stock Exchange for the Period of 2011 to 2016.
The number of samples is 29 companies with the purposive sampling method to choose
the samples.
This research is using multiple regression analysis technique. Before analyzing the
regression results, descriptive statistics, classical assumption tests (the most suitable test are
normality, multicollinearity and heteroscedasticity tests) and coupled test to decide the
regression model ( a suitable test is a random effect model).
The results shows that based on ANOVA test, Inflation, Interest Rate, Return On Assets
(ROA) and Debt to Equity Ratio (DER) together has a significant influence on Stock Returns.
The large contribution of Inflation, Interest Rate, Return on Assets (ROA) and Debt to Equity
Ratio (DER) to Stock Return is 6.6987% and the remaining 93.3013% are affected by another
variable by another than used on this research