The Effect of Profitability, Solvency, And Systematic Risk on Stock Returns with Moderating Variables by Audit Quality

IF 2.5 4区管理学 Q2 BUSINESS, FINANCE

Abacus-A Journal of Accounting Finance and Business Studies Pub Date : 2023-04-25 DOI:10.47153/afs32.6532023

Harsono Yoewono, Satish Verenathan

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引用次数: 0

Abstract

Return is one of the factors that motivate investors to invest and is also a reward for the courage of investors to take risks on the investments made. Stock returns are influenced by three factors, namely internal factors, external factors and market factors. This study aims to determine the profitability, solvency, and systematic risk variables affect stock returns with moderating variables by audit quality. This study uses a quantitative approach. The population in this study is companies engaged in the mining sub-sector in Indonesia in 2011 – 2020 which are listed on the Indonesia Stock Exchange (IDX) or the Indonesia Stock Exchange (IDX). The results in this study are that profitability and solvency have an effect on stock returns, systematic risk has no effect on stock returns, while the audit quality variable as a moderating variable strengthens the return on equity, debt equity ratio and systematic risk variables on stock returns in mining sub-sector companies listed in Indonesia Stock Exchange 2011-2020 period.

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盈利能力、偿付能力和系统性风险对具有审计质量调节变量的股票收益的影响

回报是激励投资者进行投资的因素之一，也是对投资者承担投资风险的勇气的奖励。股票收益受三个因素的影响，即内部因素、外部因素和市场因素。本研究旨在确定盈利能力、偿付能力和系统风险变量对股票收益的影响，并以审计质量为调节变量。本研究采用定量方法。本研究中的人口是2011 - 2020年在印度尼西亚证券交易所(IDX)或印度尼西亚证券交易所(IDX)上市的从事矿业分行业的公司。研究结果表明，盈利能力和偿付能力对股票收益有影响，系统风险对股票收益无影响，而审计质量变量作为调节变量强化了2011-2020年印尼证券交易所上市矿业细分行业公司的净资产收益率、债务权益比和系统风险变量对股票收益的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Abacus-A Journal of Accounting Finance and Business Studies BUSINESS, FINANCE-

CiteScore

3.30

自引率

4.80%

发文量

期刊介绍： Since 1965 Abacus has consistently provided a vehicle for the expression of independent and critical thought on matters of current academic and professional interest in accounting, finance and business. The journal reports current research; critically evaluates current developments in theory and practice; analyses the effects of the regulatory framework of accounting, finance and business; and explores alternatives to, and explanations of, past and current practices.