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Email this article Pengaruh Struktur Modal Terhadap Return Saham Melalui Manajemen Risiko dan Total Efisiensi Manajemen
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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DOI: http://dx.doi.org/10.26623/jreb.v15i1.4107
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