Muhammad Fadhil Ilyaasa, ILYAASA,Muhammad Fadhil (2025) PENGARUH LEVERAGE, OPERATING EXPENSE RATIO, PROFITABILITAS TERHADAP RETURN SAHAM SEKTOR JASA KEUANGAN NON-BANK SUBSEKTOR PERUSAHAAN ASURANSI YANG TERDAFTAR DI BEI. S1 thesis, Universitas Islam Nusantara.

	Text SKRIPSI FADHIL FIX 3_.pdf - Submitted Version Restricted to Repository staff only Download (1MB)
	Text LEMBAR PENGESAHAN (4).pdf - Published Version Download (774kB)

Abstract

This study aims to analyze the influence of leverage, operational efficiency, and profitability on stock returns in general insurance companies listed on the Indonesia Stock Exchange (IDX). Leverage is proxied by Debt to Equity Ratio (DER), Operating Expense Ratio with Operating Costs to Operating Income (BOPO), and profitability with Return on Equity (ROE). Stock return is measured using Capital Gain. This research is motivated by the phenomenon of fluctuations in stock prices in the insurance sector and differences in financial performance between companies. This research uses a quantitative approach with descriptive and verifiable methods. The data used is secondary data in the form of annual financial statements and stock prices. Data analysis was carried out by regression of panel data using the Common Effect Model (CEM) model through the EViews 12 application. The tests used include the determination coefficient test (R²), simultaneous test (F test), and partial test (T test). The results of the study show that simultaneously the three independent variables have a significant effect on stock returns. However, partially, DER and BOPO do not have a significant effect on stock returns, while ROE has a significant positive effect. These results support the signaling theory which states that good financial performance is a positive signal for investors. Keywords: Capital Gain, Indonesia Stock Exchange, Leverage (DER), Operating Expense Ratio (BOPO), Profitability (ROE), Stock Return.

Actions (login required)

View Item