Pengaruh Struktur Modal Terhadap Return Saham Melalui Manajemen Risiko dan Total Efisiensi Manajemen

Jurnal Riset Ekonomi dan Bisnis Pub Date : 2022-04-28 DOI:10.26623/jreb.v15i1.4107

Auliyana Yanuar Annisa, Supramono Supramono, I. Indarto

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Abstract

This research aims to analyze the effect of Capital Structure on Stock Return with Risk Management and Total Management Efficiency as Intervening Variables so that it aims to determine the factors influencing Stock Return that investors need to pay attention to in determining their investment decisions. The population used in this study are banking companies listed on the Indonesia Stock Exchange which are included in the Infobank15 index for the period July-December 2019. The sampling technique used is purposive sampling. The analytical tool used is SPSS Version 25. The results of this research indicate that the Stock Return is only able to be significantly influenced by Total Management Efficiency. The Capital Structure is not able to significantly influence Risk Management, but is able to significantly influence Total Management Efficiency. The intervening variables of Risk Management and Total Management Efficiency are both unable to mediate the relationship between Capital Structure and Stock Return.Penelitian ini bertujuan untuk menganalisis pengaruh Struktur Modal terhadap Return Saham dengan Manajemen Risiko dan Total Efisiensi Manajemen sebagai Intervening Variable sehingga bertujuan untuk mengetahui faktor-faktor pengaruh Return Saham yang perlu diperhatikan investor untuk menentukan keputusan investasinya. Populasi yang digunakan dalam penelitian ini adalah perusahaan perbankan yang terdaftar di Bursa Efek Indonesia yang termasuk dalam indeks Infobank15 periode Juli-Desember 2019. Teknik pengambilan sampel yang digunakan yaitu purposive sampling. Alat analisis yang digunakan adalah SPSS Versi 25. Hasil dari penelitian ini menunjukkan bahwa Return Saham hanya mampu dipengaruhi secara signifikan oleh Total Efisiensi Manajemen. Struktur Modal tidak mampu mempengaruhi secara signifikan terhadap Manajemen Risiko, tetapi mampu mempengaruhi secara signifikan terhadap Total Efisensi Manajemen. Variabel intervening Manajemen Risiko dan Total Efisiensi Manajemen keduanya tidak mampu memediasi hubungan antara Struktur Modal dan Return Saham.

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资本结构通过风险管理和总管理效率对股票回报率的影响

本研究以风险管理和总管理效率为中介变量，分析资本结构对股票收益的影响，从而确定投资者在进行投资决策时需要注意的影响股票收益的因素。本研究中使用的人口是在印度尼西亚证券交易所上市的银行公司，这些公司被纳入2019年7月至12月期间的Infobank15指数。使用的抽样技术是有目的的抽样。使用的分析工具是SPSS Version 25。本研究结果表明，股票收益只会受到总管理效率的显著影响。资本结构对风险管理没有显著影响，但对总管理效率有显著影响。风险管理和总管理效率这两个中介变量都不能中介资本结构与股票收益之间的关系。Penelitian ini bertujuan untuk menganalis pengaru strucktur Modal terhap Return Saham dengan management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management management managementPopulasi yang digunakan dalam penelitian ini adalah perusahaan perbankan terdattar di Bursa Efek Indonesia杨termasuk dalam指数2019年7月至12月期间。泰克彭甘比兰取样杨地纳肯雅图目的取样。气象分析杨迪纳坎adalah SPSS version 25。Hasil dari penelitian ini menunjukkan bahwa Return Saham hanya mampu dipengaruhi secara signfikan oleh Total Efisiensi management(总管理)。结构、模态、模态、模态、模态、模态、模态、模态、模态、模态、模态、模态、模态。变量干预管理人员Risiko dan Total Efisiensi管理人员keduanya tidak mampu memediasi hubungan antara Struktur Modal dan Return Saham。

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Jurnal Riset Ekonomi dan Bisnis

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