Jurnal Pengembangan Wiraswasta
Vol 24, No 3 (2022): JPW Edisi Desember 2022

Pengaruh Leverage terhadap Earnings Per Share dan Implikasinya terhadap Return Saham yang dimoderasi Nilai Tukar

Rina Nurjanah (Universitas Pelita Bangsa)
Agus Fuadi (Universitas Pelita Bangsa)
Nisa Zhafira (Universitas Pelita Bangsa)



Article Info

Publish Date
30 Jan 2023

Abstract

Return yang diterima investor atas investasinya merupakan return saham, dalam teori pasar modal biasa disebut payout rate yang diterima investor dari saham yang diperdagangkan di pasar modal. Penelitian ini bertujuan untuk menguji pengaruh tangible assets debt coverge (TADC) terhadap earning per share (EPS), dan pengaruh EPS terhadap return saham dengan nilai tukar sebagai variabel moderasi.  Populasi penelitian ini adalah perusahaan yang ada di Jakarta Islamic Index (JII)) yang terdaftar di Bursa Efek Indonesia. Sampel penelitian ini diambil menggunakan teknik purposive sampling, dengan menggunakan data sekunder. Metode analisis data yang digunakan dalam penelitian ini adalah analisis regresi linear berganda, dan analisis MRA (Moderated Regression Analysis). Penelitian ini menunjukkan hasil bahwa TADC berpengaruh positif signifikan terhadap return saham, sedangkan EPS tidak berpengaruh terhadap return saham. Variabel nilai tukar tidak dapat menjadi variabel moderasi antara EPS terhadap return saham.The return received by investors on their investment is a stock return, in capital market theory it is usually called the payout rate that investors receive from shares traded on the capital market. This study aims to examine the effect of tangible assets debt coverage (TADC) on earnings per share (EPS), and the effect of EPS on stock returns with the exchange rate as a moderating variable. The population of this study are companies in the Jakarta Islamic Index (JII)) which are listed on the Indonesia Stock Exchange. The research sample was taken using a purposive sampling technique, using secondary data. The data analysis method used in this study is multiple linear regression analysis, and MRA (Moderated Regression Analysis) analysis. This study shows the results that TADC has a significant positive effect on stock returns, while EPS has no effect on stock returns. The exchange rate variable cannot be a moderating variable between EPS and stock returns.

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Journal Info

Abbrev

jpw

Publisher

Subject

Economics, Econometrics & Finance Social Sciences

Description

Jurnal Pengembangan Wiraswasta is a national journal intended to develop entrepreneurship. This journal contains articles on various issues in the field of social sciences and humanities in the economic field. In particular, this journal raises various management issues related to entrepreneurship ...