Adien Husnun Nabila, 7211418017 (2023) PENGARUH DEBT TO EQUITY RATIO (DER), DEVIDEN PAYOUT RATIO (DPR) DAN NET PROFIT MARGIN (NPM) TERHADAP RETURN SAHAM DENGAN PRICE EARNING RATIO (PER) SEBAGAI VARIABEL MODERASI (Studi Empiris pada Perusahaan Manufaktur Subsektor Makanan dan Minuman yang terdaftar di Bursa Efek Indonesia (BEI) periode tahun 2016-2020. Under Graduates thesis, UNIVERSITAS NEGERI SEMARANG.

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Abstract

Stock return is the result of investment. Investors make investments aiming to maximize returns, without forgetting the investment risk factors they face. Return is the motivation of investors to invest and rewards for investors' courage in investing. The purpose of this study was to analyze the effect of Debt to Equty Ratio (DER), Dividend Payout Ratio (DPR) and Net Profit Margin (NPM) on Stock Returns with Price Earning Ratio (PER) as a moderating variable. The population in this study are 25 Food and Beverage companies listed on the Indonesia Stock Exchange (IDX) in the 2016-2020 period. The selection of samples using purposive sampling technique obtained as many as 13 companies with a many of 65 units of analysis. This study uses secondary data in the form of annual reports with documentation techniques. The data analysis technique used is descriptive statistics and inferential statistics. The results showed that Debt to Equity Ratio (DER) had no effect on stock returns, Dividend Payout Ratio (DPR) had no effect on stock returns, Net Profit Margin (NPM) had no effect on stock returns, Price Earning Ratio (PER) was able to moderate the relationship between the Debt to Equity Ratio (DER) to stock returns, the Price Earning Ratio (PER) is able to moderate the relationship between the Dividend Payout Ratio (DPR) to stock returns and the Price Earning Ratio (PER) is not able to moderate the relationship between Net Profit Margin (NPM) to stock returns. The conclusion of this study is that the Debt to Equity Ratio (DER), Dividend Payout Ratio (DPR) and Net Profit Margin (NPM) have no effect on stock returns. The Price Earning Ratio (PER) is able to moderate the effect of the Debt to Equity Ratio (DER) and the Dividend Payout Ratio on stock returns. Price Earning Ratio (PER) is not able to moderate the effect of Net Profit Margin (NPM) on stock returns. Future studies are expected to be able to use samples from other sector companies, as well as to expand the research timeframe and are expected to be able to use other measuring instruments to measure shareholder equity

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