Pengaruh Kinerja Keuangan dan Suku Bunga Terhadap Return Saham Pada Perusahaan LQ45 Yang Terdaftar Di BEI Tahun 2020-2022

Abstract

The COVID-19 pandemic, initially emerging as a global health crisis, has also affected social, economic, and financial conditions at both national and global levels. In early 2020, a significant correction occurred in the Composite Stock Price Index (IDX Composite), resulting in notable fluctuations in the LQ45 Index. Several LQ45-listed companies experienced sharp declines in net profit, particularly in the construction and property sectors. These sectors were severely impacted due to declining sales of houses and apartments, the temporary closure of shopping centers to curb the spread of COVID-19, and the suspension of construction projects, which disrupted cash flows while business liabilities remained unavoidable. This study aims to examine the effect of financial performance, specifically current ratio, return on equity, debt to equity ratio, total assets turnover, and interest rates on stock returns of LQ45 companies listed on the Indonesia Stock Exchange during the period 2020–2022. This research employs a quantitative approach using secondary data. The population consists of LQ45 companies listed on the Indonesia Stock Exchange from February 2020 to August 2021. A saturated sampling technique was applied, resulting in 30 sample companies. Data were collected through documentation methods and analyzed using multiple linear regression with SPSS version 26 to evaluate the relationships among variables and assess the model’s adequacy. The findings indicate that return on equity has a positive and significant effect on stock returns, while current ratio, debt to equity ratio, total assets turnover, and interest rates do not have a significant effect.