Analisis Pengaruh Sentimen Investor, Likuiditas, Solvabilitas, dan Economic Value Added (EVA) terhadap Return Saham dengan Corporate Social Responsibility (CSR) sebagai Variabel Moderasi pada Perusahaan Sektor Kesehatan (Healthcare) yang Terdaftar dalam Bursa Efek Indonesia (BEI) Periode 2018 -2022

Abstract

This research aims to examine how investor sentiment, liquidity, solvency, and economic value-added affect stock return moderated by corporate social responsibility disclosure in healthcare sector companies listed on the Indonesia Stock Exchange (IDX) for the period of 2018-2022. The information about the healthcare sector companies listed in IDX for the period of 2018-2022 are collected from IDX website, www.idx.com. A purposive sampling technique is conducted to select a sample of 13 companies from a population of 33 healthcare companies. The test is performed by using data panel regression analysis and Moderated Regression Analysis (MRA) with the E-view statistic software. The research finds that the variables of investor sentiment, liquidity, and economic value-added do not significantly affect the stock returns. Furthermore, Corporate Social Responsibility disclosure has no capacity in moderating the correlation between investor sentiment, liquidity, solvency, and economic value-added towards stock returns.