Faktor-Faktor yang Mempengaruhi Return Saham dengan Corporate Social Responsibility sebagai Variabel Moderating pada Perusahaan Properti Real Estate dan Building Construction di Bursa Efek Indonesia

Abstract

The purpose of this research is to know and analyze the effect Return On Assets, cash flows from financing activities, Leverage, of company age and proportion of independent commissioners simultaneously and partially to stock returns in Property, Real Estate and Building Construction companies listed on the Indonesia Stock Exchange, and CSR Disclosure as a moderating variable strengthens or weakens the relationship between Return On Assets, cash flows from financing activities, Leverage, company age and the proportion of independent commissioners with stock returns in Property, Real Estate and Building Construction companies listed on the Indonesia Stock Exchange. The population for this research is 51 Property, Real Estate and Building Construction companies that are listed on the Indonesia Stock Exchange from 2018 - 2022. The sample was selected using the purposive sampling method, totaling 35 companies with 155 units of analysis. The data were processed using the panel data regression analysis model for the first hypothesis and the residual test for the moderating variable using STATA. The results of this study prove the first hypothesis that simultaneously and partially Return On Assets, cash flows from financing activities, Leverage of firm age and the proportion of independent commissioners have a significant effect on stock returns. The results of the moderation test show that CSR Disclosure does not moderate the relationship between Return On Assets, cash flows from financing activities, Leverage, company age and the proportion of independent commissioners and stock returns.