The Influence of Capital Structure, Company Size and Company Profitability on Stock Returns in Transportation and Logistics Sector Companies (K211) Listed on the IDX
DOI:
https://doi.org/10.31851/jmwe.v23i1.19873Keywords:
Capital Structure, Firm Size, Profitability, Stock ReturnsAbstract
The purpose of this study is to analyze the effect of capital structure, company size, and profitability on stock returns for hypothesis testing. This study covers all financial reports listed on the Indonesia Stock Exchange (IDX). This study used a population consisting of transportation and logistics companies listed on the IDX. The sample selection method used in this study was purposive sampling, with the following conditions: companies must present financial reports for three years; companies that have information related to capital structure, company size, profitability, and stock returns; companies operating between 2021 and 2023; companies with zero stock returns were excluded from the sample to maintain data accuracy; and companies that publish financial reports in rupiah. In accordance with the criteria, 17 company financial reports were selected for the three years of observation, resulting in a total of 51 data sets. This study analyzed the data using classical assumption tests, which include normality, multicollinearity, heteroscedasticity, and autocorrelation tests. Next, multiple linear regression analysis, determination coefficient testing, and hypothesis testing were conducted using t-tests and F-tests. Based on the hypothesis testing results, it was found that capital structure, company size, and profitability variables simultaneously had no effect on stock returns. Partially, each of the capital structure, company size, and profitability variables also showed no significant effect on stock returns.
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