ANALISIS PENGARUH PROFITABILITAS DAN LIKUIDITAS TERHADAP RETURN SAHAM SYARIAH DENGAN RISIKO INVESTASI SEBAGAI VARIABEL INTERVENING

Abstract

This research aims to determine the effect of profitability and liquidity on stock returns sharia investment risk as an intervening variable. This research object is the entire Islamic stocks listed in the List of Islamic Securities (DES) at the Indonesian Stock Exchange (BEI) in the period 2012 - 2014. The determination of the sample in this study using purposive sampling based on the availability of data during the study period and the type of data is secondary data, while analysis method used is the model path analysis (path analysis). The results showed that the partial profitability, liquidity and investment risk positive effect on stock returns sharia; positive effect on the profitability of the investment risk, liquidity does not affect the investment risk. The results showed the risk of investment profitability mediating influence on stock returns significantly sharia; investment risk mediate the effect of liquidity on stock returns significantly sharia. It is concluded that the investment risk may mediate the relationship between profitability and liquidity of the stock return of sharia