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This researh aims to determine the effect of ROE, NPM, entity size on stock returns using dividend policy as a moderator. The type of this research is associative. The population were 179 manufacturing entities listed on the IDX for the period 2015 to 2019. The samples were 36 entities for 5 years of observation with a total of 180 data. Purposive sampling is a method in selecting samples. Data was collected by the documentation method. The researh data is sourced from the annual report of manufacturing entities listed on the IDX for period 2015 to 2019. Multiple linear regression testing and moderated regression analysis ( MRA) are the methods of analyzing data. Data was processed using the SPSS variant 22 aplication program. The results of data testing are ROE, NPM, entity size does not have significant effect on stock returns. Dividen policy was not able to moderate the relationship between ROE, NPM, entity size on stock returns in manufacturing entities listed on the IDX for the period 2015 to 2019.Penelitian ini bertujuan untuk mengetahui pengaruh ROE, NPM, ukuran entitas terhadap return saham menggunakan kebijakan dividen sebagai pemoderasi. Jenis penelitian ini adalah asosiatif. Populasi sebanyak 179 entitas manufaktur terdaftar di BEI periode 2015 hingga 2019. Sampel berjumlah 36 entitas selama 5 tahun pengamatan dengan jumlah data 180 data. Purposive sampling menjadi metode dalam pemilihan sampel. Data dikumpulkan dengan metode dokumentasi. Data penelitian bersumber dari annual report entitas manufaktur listing di BEI periode 2015 hingga 2019. Pengujian regresi linear berganda dan moderated regression analysis (MRA) menjadi metode dalam menganalisis data. Pengolahan data diproses menggunakan program aplikasi SPSS varian 22. Hasil pengujian data yaitu ROE, NPM, ukuran entitas tidak mempunyai pengaruh signifikan terhadap return saham. Kebijakan dividen tidak mampu memoderasi hubungan antara ROE, NPM, ukuran entitas terhadap return saham pada entitas manufaktur terdaftar di BEI periode 2015 hingga 2019. |
