The Effect of Profitability, Liquidity, Dividend Policy, Stock Price Volatility, and Inflation on Stock Returns in the Primary Consumer Goods Sector

This study aims to analyze the influence of internal factors (profitability, liquidity, and dividend policy), external factors (stock price volatility), and microeconomic factors (inflation) on stock returns in primary consumer goods sector companies listed on the Indonesia Stock Exchange (IDX). The method used in this study is panel data regression analysis with a common effect model (CEM) approach. The research sample involved 15 companies in the primary consumer goods sector that were selected using purposive sampling techniques based on specific criteria during a certain period. The results of the study show that dividend policies and stock price volatility have a significant effect on stock returns, while profitability, liquidity, and inflation do not have a significant effect on stock returns of companies in the primary consumer goods sector.