Pengaruh Fixed Assets Turnover Ratio (FATO), Debt to Equity Ratio (DER), dan Price to Sales Ratio (PSR) terhadap Return Saham dengan Harga Komoditas Batubara sebagai Variabel Moderasi

Abstract

This study aims to determine the effect of fixed assets turnover ratio (FATO), debt to equity ratio (DER), and price to sales ratio (PSR) on stock returns with coal commodity prices as a moderating Variabel in coal mining companies listed on the Stock Exchange. Indonesia (IDX) from 2017 to 2020. The population of this study is the coal mining sub-sector companies listed on the Indonesia Stock Exchange (IDX) in 2017-2020 totaling 25 companies. Purposive sampling technique was used in this study as a sampling technique and there were 9 selected companies that met the criteria for being sampled with a total of 36 financial reports. The research method used in this study is a quantitative method and the analytical method used is panel data regression and moderating regression analysis (MRA). Based on the results of the partial research that the fixed assets turnover ratio (FATO) and debt to equity ratio (DER) has a significant effect on stock returns, price to sales ratio (PSR) have no effect on stock returns, simultaneously fixed assets turnover ratio (FATO), debt to equity ratio (DER), and price to sales ratio (PSR) have a significant effect on stock returns. The results of the partial interaction test of coal commodity prices cannot moderate the effect of the fixed assets turnover ratio (FATO) on stock returns, coal commodity prices cannot moderate the effect of the debt to equity ratio (DER) effect on stock returns, and coal commodity prices cannot moderate the effect of the effect of the price to sales ratio (PSR) on stock returns, simultaneously the commodity price of coal is able to moderate the effect of fixed assets turnover ratio (FATO), debt to equity ratio (DER), and price to sales ratio (PSR) on stock returns