Impact of Current Ratio (CR), ROA, and ROE on Coal Subsector Stock Returns, IDX 2020–2023
Keywords:
Current Ratio, Return on Assets, Return on Equity, Stock Return , Coal SubsectorAbstract
This study aims to analyze the influence of Current Ratio (CR), Return on Assets (ROA), and Return on Equity (ROE) on stock returns in the coal subsector listed on the Indonesia Stock Exchange (IDX) for the 2020–2023 period. The research method used is associative quantitative with secondary data obtained from annual financial statements, stock prices, and other official publication sources. Data analysis was carried out using multiple linear regression with classical assumption tests including normality, multicollinearity, autocorrelation, and heteroscedasticity tests. The results of the study show that simultaneously CR, ROA, and ROE do not have a significant effect on stock returns. Partially, CR and ROA have no significant effect on stock returns, while ROE has a positive and significant effect. The adjusted R square value of 24.5% indicates that the independent variable is only able to explain the variation in stock returns of 24.5%, while the rest is influenced by other factors outside of this study. This finding implies that investors in the coal subsector should pay more attention to equity profitability indicators rather than liquidity or asset efficiency in making investment decisions.
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References
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