Pengaruh Inflasi, Leverage, Dan Ukuran Perusahaan Terhadap Profitabilitas Dan Return Saham
Keywords:
investor; profitabilitas; return saham.Abstract
Return saham dapat dipengaruhi oleh penerapan analisis fundamental dalam investasi di pasar modal. Konteks analisis fundamental makro menempatkan inflasi sebagai peran sentral yang memiliki dampak signifikan terhadap daya beli masyarakat, kebijakan moneter, dan arah strategi investasi. Pada analisis fundamental mikro, variabel leverage (utang perusahaan), ukuran perusahaan, dan profitabilitas yang menjadi fokus utama penelitian ini. Penelitian ini menggunakan Analisis Jalur (Path Analysis) yang dapat digunakan untuk menghitung pengaruh langsung dan tidak langsung antar variabel. Inflasi dan leverage berpengaruh negatif terhadap return saham, ukuran perusahaan dan profitabilitas berpengaruh positif terhadap return saham, inflasi dan leverage berpengaruh negatif terhadap profitabilitas, ukuran perusahaan berpengaruh positif terhadap profitabilitas. Serta profitabilitas memediasi pengaruh inflasi, leverage, dan ukuran perusahaan terhadap return saham.
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