The Effect of Financial Performance, Capital Structure, and Firm Size on Stock Returns

This study aims to analyze the effect of financial performance, capital structure, and firm size on stock returns in technology sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2019–2023. The research sample was selected using the purposive sampling method, and after removing outlier data, a number of companies met the research criteria. The analysis method used is panel data regression with the EViews 12 application. The results show that, simultaneously, financial performance, capital structure, and firm size significantly affect stock returns. Partially, capital structure and firm size have a significant impact on stock returns, while financial performance does not have a significant effect. These findings indicate that investors in the technology sector consider capital structure and firm size as key factors in making investment decisions.