Analysis of the Probability of Financial Distress as a Moderating Variable that Influences Stock Returns in Coal Companies (2018-2022)
Journal Title: International Journal of Current Science Research and Review - Year 2023, Vol 6, Issue 12
Abstract
This research was conducted to examine and analyze the influence of operating activity cash flow, investing activity cash flow, financing activity cash flow, liquidity, and total asset turnover as independent variables on stock returns as the dependent variable, along with the ability of probability financial distress to moderate the relationship between the independent variable and the variable dependent. The research method in this research is quantitative research with panel data regression analysis using the EViews application. The research object in this study is coal companies listed on the Indonesia Stock Exchange for the 2018-2022 period. The sampling technique used purposive sampling and found 130 observations. The research results show that operating activity cash flow has a positive effect on stock returns. Meanwhile, investing activity cash flow, financing activity cash flow, liquidity, and total asset turnover have no effect on stock returns. The probability of financial distress is unable to moderate the relationship between operating activity cash flow, investing activity cash flow, financing activity cash flow, liquidity, and total asset turnover with stock returns.
Authors and Affiliations
Devina Loman, Erlina . , Khaira Amalia Fachrudin,
Keywords
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- EP ID EP725245
- DOI 10.47191/ijcsrr/V6-i12-45
- Views 54
- Downloads 0
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