PENGARUH KEBIJAKAN HUTANG TERHADAP TINGKAT PENGEMBALIAN SAHAM PADA PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI)

ABSTRACTThis research aims to investigate the simultaneous and partial influencesDebt to Equity Ratio (X1) and Debt to Asset Ratio (X2) on the banking companieslisted in Indonesia Stock Exchange period 2011 to 2015.The data obtained from the study ICMD, IDX, Stocks Ok, Yahoo Financeand Financial Statements. Total population in this study were as many as 41companies and sample results obtained 8 companies that meet the criteria. Theresearch sample was determined by purposive sampling of banking companieslisted in Indonesia Stock Exchange during the period from 2011 to 2015 wereissued rate of return (return) respectively which tended to decline each year. Dataanalysis techniques in this research using multiple linear regression analysis.Based on the results of multiple regression analysis of the conclusionsthat can be drawn from this study is the result of simultaneous test (F test)concluded that simultaneous Debt to Equity Ratio (X1) and the Debt to AssetRatio (X2) no significant effect on stock returns since F count < F table, so thefirst hypothesis stating Debt to Equity Ratio (X1) and the Debt to Asset Ratio (X2)simultaneously there is an effect not proven true. The result of partial test (t test)concluded that partial Debt to Equity Ratio (X1) obtained t table > t count andthe Debt to Asset Ratio (X2) obtained t table > t count, it can be concluded thatthere is partial effect with stock returns so that the second hypothesis which statesthat the Debt to Equity Ratio (X1) and the Debt to Asset Ratio (X2) is partiallyaffected by stock returns are also unsubstantiated .Keywords : Debt to Equity Ratio , Debt to Asset Ratio and Stock Retur