Analisis Pengaruh ROA Terhadap Stock Return Dengan Family Ownership Sebagai Variabel Moderasi: Bukti Empiris dari IDX 2019–2023
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Abstract
Penelitian ini bertujuan untuk menganalisis pengaruh ROA terhadap stock return serta peran Family Ownership sebagai variabel moderasi pada perusahaan non-keuangan yang terdaftar di Bursa Efek Indonesia (BEI) periode 2019–2023. Hasil penelitian menunjukkan bahwa ROA berpengaruh positif dan signifikan terhadap stock return, yang berarti profitabilitas yang lebih tinggi mendorong peningkatan return bagi investor. Selain itu, Family Ownership terbukti memperkuat hubungan antara ROA dan stock return, menunjukkan bahwa pasar lebih merespon positif profitabilitas perusahaan keluarga. Kebaruan penelitian ini terletak pada pengujian peran moderasi family ownership dalam hubungan profitabilitas dan stock return dalam konteks pasar berkembang Indonesia, sehingga memperkaya literatur kepemilikan keluarga dan keputusan investasi.
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Licensed under 
a Creative Commons Attribution-NonCommercial 4.0 International License
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