Analisis Pengaruh Financial Leverage, Managerial Ownership, Price to Book Value, Price to Earning Ratio, dan Window Dressing Terhadap Return Saham pada Perusahaan Index Lq45 Periode 2018-2022

Abstract

This study aims to analyze the effect of financial leverage, managerial ownership, price to book value, price to earning ratio, and window dressing on stock returns of companies listed in the LQ45 Index during the 2018–2022 period. The research is motivated by the importance of internal fundamental factors and financial reporting practices in influencing investors’ stock returns. This study employs an associative research design with a quantitative approach. The population consists of 45 companies included in the LQ45 Index, and through purposive sampling, 10 companies were selected, resulting in a total of 60 observations over five years. Secondary data were obtained from annual financial statements sourced from the Indonesia Stock Exchange and other relevant sources. Data analysis was performed using panel data regression with E-Views software. The findings are expected to provide empirical evidence on the influence of fundamental factors and window dressing practices on stock returns, as well as to serve as a reference for investors in making investment decisions.