Determinants of stock returns: evidence from property and real estate companies in Indonesia

Abstract

This study examines the effect of the current ratio, debt-to-equity ratio, return on assets, and dividend payout ratio on stock returns in property and real estate companies listed on the Indonesian stock exchange for 2018-2022. This research employs a quantitative approach using secondary data from the companies' annual financial reports. The sample covers 11 property and real estate companies listed on the Indonesian stock exchange. The results show that the current ratio, debt-to-equity ratio, and return on assets do not significantly affect stock returns, whereas the dividend policy does.