PENGARUH EFISIENSI DAN EFEKTIVITAS ASSET TERHADAP RETURN SAHAM DENGAN TINGKAT RESIKO SEBAGAI PEMODERASI

Lusiana Widiyanti; Nurmala Ahmar; Mulyadi

Lusiana Widiyanti Sekolah Pascasarjana Universitas Pancasila
Nurmala Ahmar Sekolah Pascasarjana Universitas Pancasila
Mulyadi Sekolah Pascasarjana Universitas Pancasila

Keywords: Efficiency, Asset Effectiveness, Stock Return

Abstract

This study aims to find out and analyze the effect of efficiency and effectiveness of assets on stock returns with risk levels as moderating. The population in this study were 9 (nine) companies engaged in coal mining which were listed on the Indonesia Stock Exchange for the Period of 2010-2017. The study uses a quantitative approach and data processing using Warp-PLS 6.0 software. The results show that efficiency (Net Profit Margin) has a significant effect on stock returns. Asset effectiveness (Total Asset Turn Over) has no significant effect on stock returns. The efficiency (Net Profit Margin) which is moderated by the level of risk (Debt To Equity Ratio) shows a non-significant effect on stock returns, Asset Turn Over which is moderated by the level of risk (Debt to Equity Ratio) shows a significant effect on stock returns.