DETERMINANTS OF SHARE RETURN OF MANUFACTURING COMPANIES BEFORE AND DURING THE COVID-19 PANDEMIC
Investasi merupakan salah satu komponen dalam mengetahui kondisi perekonomian Indonesia. Sebelum melakukan investasi, investor akan mempertimbangkan return yang akan diperoleh. Umumnya investor akan melaksanakan analisa terhadap laporan keuangan untuk menilai kinerja perusahaan. Berdasarkan hasil empiris yang telah ada masih terdapat inkonsistensi maka penelitian ini dilaksanakan guna mengetahui pengaruh Return on Equity (ROE), Debt to Equity Ratio (DER), Current Ratio (CR), Earning Per Share (EPS), serta Total Asset Turnover (TATO) terhadap Return Saham pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2017-2020 sebelum dan pada masa pandemi covid-19. Sebelum melakukan uji hipotesis, dilakukan uji asumsi klasik (uji autokorelasi, uji heteroskedastisitas, uji multikolinieritas, uji normalitas). Hasil penelitian menyatakan bahwasannya tidak ada perubahan signifikansi CR, DER, EPS, ROE, serta TATO tidak berpengaruh signifikan terhadap Return Saham pada perusahaan manufaktur sebelum masa pandemi dan pada masa pandemi covid-19. Manfaat praktis bagi perusahaanmanufaktur guna meningkatkan kinerja perusahaan dengan memperhatikan berbagai faktor yang ada sehingga mampu menarik perhatian investor.
Investment is one component in knowing the condition of the Indonesian economy. Before making an investment, investors will consider the return to be obtained. In general, investors will analyze the financial statements to assess the company's performance. Based on existing empirical results, there are still inconsistencies, this research was conducted to determine the effect of Return on Equity (ROE), Debt to Equity Ratio (DER), Current Ratio (CR), Earning Per Share (EPS), and Total Asset Turnover (TATO)) on stock returns in manufacturing companies listed on the Indonesia Stock Exchange for the 2017-2020 period before and during the covid-19 pandemic. Before testing the hypothesis, the classical assumption test was performed (autocorrelation test, heteroscedasticity test, multicollinearity test, and normality test), The results showed that there was no significant change in , CR, DER, EPS, ROE, and TATO. CR, DER, EPS, ROE, and TATO have no significant effect on stock returns in manufacturing companies before the pandemic and during the covid-19 pandemic. Practical benefits for manufacturing companies to improve company performance by taking into account the various factors that exist so as to attract the attention of investors.